Biffa shares jump as it remains on track for full-year growth March 6, 2019 Shares in waste management firm Biffa jumped more than five per cent this morning after the company said it is on track to post underlying revenue growth in its full-year results. In a trading update the firm said trading for the second half of the year is expected to be in line with the board’s [...]
A clear choice for discerning investors March 6, 2019 | Sponsored Now nudging £5 billion a year, peer-to-peer and crowd lending platforms have entered the mainstream during a post-financial crisis era in which investors increasingly want a say in where and how their money is invested. Savers and investors now place a greater premium on transparency, choice and engagement – not to mention a (quite justified) [...]
Shepherd Neame’s exceptional costs take fizz out of profits March 6, 2019 Brewer and pub group Shepherd Neame posted a modest rise in profit before tax for the six months to the end of December, despite being hit by refinancing and contract losses. The figures Underlying profit before tax rose 1.4 per cent to £5.9m in the 26 weeks to 29 December 2018. Like-for-like sales in the group’s [...]
Brands have ‘Netflix envy’ and need expertise of advertising agencies, says WPP boss March 5, 2019 Brands are guilty of ‘Netflix envy’ and need the expertise of traditional advertising agencies, WPP chief executive Mark Read said today. Speaking at the Incorporated Society of British Advertisers (ISBA) conference, Read played down fears brands are increasingly moving their advertising in-house and defended the role of conventional ad shops. Read more: Profits plunge at advertising [...]
Bumper Persimmon fails to shake off uncertainty March 5, 2019 | City Talk Despite the housebuilder's £1 billion profit and generous dividend, Persimmon shares are under a cloud. Just when investors thought it was safe to go back into mortar, the government's reported review of the Help to Buy scheme has dealt another blow to the sector. Persimmon (LSE:PSN) 6% share price decline represented the brunt of the blow, [...]
Direct Line operating profits slip as it warns on impact of no-deal Brexit March 5, 2019 Direct Line posted a fall in full-year earnings this morning, with the blue-chip insurer striking a cautious tone over threats of a "disruptive Brexit". In outgoing boss Paul Geddes’ final annual results statement for Britain's largest motor insurer, operating profits dipped during the 12 months and the total dividend payout was slashed. "The increased focus on [...]
Government delays Financial Services Bill vote in tax havens dispute March 4, 2019 A government bill designed to protect the City in the event of a no-deal Brexit was pulled tonight in the face of almost certain defeat after MPs added an amendment that would have forced greater tax transparency on the Isle of Man, Guernsey and Jersey. The decision sparked an outcry among MPs and campaigners who [...]
‘Turbocharged’ IAG rides out airline storms March 4, 2019 | City Talk BA owner International Airlines Group continues to impress, helped by a "turbocharged" dividend yield. The British Airways parent International Consolidated Airlines Group (LSE:IAG) has produced an outstanding performance, which is particularly impressive given the difficulties being faced elsewhere in the airline industry. The company has, for some years, been concentrating on driving its business by [...]
Carmaker Porsche facing German tax investigation March 3, 2019 Luxury carmaker Porsche is facing an investigation over alleged tax debts. The sportscar manufacturer said on Sunday that it was cooperating with German prosecutors in relation to its tax treatment treatment of employees taking early retirement and benefits given to former executives. The benefits are reported to include parties, private plane trips and chauffeur services. [...]
Pimlico Plumbers boss Charlie Mullins takes home £4.9m in dividends March 3, 2019 Plumbing millionaire Charlie Mullins bagged £4.9m in dividends from his Pimlico Plumbers business last year, according to new accounts. The figure includes £1.6m in post year end dividends. In addition to dividends, Mullins and his son Scott, took home a combined £711,512 in pay for their work as directors of the company, taking their income [...]