London venture capital firm pumps cash into British AI robotics business August 15, 2024 Sure Valley Ventures, a London-listed investment firm which specialises in helping early-stage software companies to scale up, is set to expand its AI robotics portfolio with two new investments worth more than £2m. The venture capital firm led a £2m funding round for PHINXT Robotics, an AI-led robotics company that creates software to allow warehouse [...]
Gooch and Housego: Profit to be £1.5m lower than expected after delivery delays August 15, 2024 Photonics engineering and manufacturing firm Gooch and Housego (G&H) said it expects its profit for the year to be lower than previously predicted as delivery delays hit its revenue. The London-listed company, which saw its revenue fall in the first half of the year, said that it was likely to see its pre-tax profit come in at [...]
Mecca Bingo owner The Rank Group surges back to profit as people return to casinos August 15, 2024 The owner of Mecca Bingo, The Rank Group, has surged back into the black with profit that outstripped previous expectations. The London-listed group, which is headquartered in Maidenhead, saw its net gaming revenue grow by nine per cent year on year to £734.4m in the 12 months ending June 30, 2024, up from £671.4m in [...]
Ultimate Products: Russell Hobbs seller hit by overstocking woes August 14, 2024 Consumer goods giant Ultimate Products, which owns Britain’s oldest homeware brand Salter and sells certain Russell Hobbs items under license, has seen its profit dip after supermarket overstocking issues. The London-listed group, which is headquartered in Oldham, reported an adjusted pre-tax profit of £14.5m in the 12 months ending July 30, 2024, down from £16.8m [...]
Leeds-upon-Thames? How the West Yorkshire heartland is luring British institutions away from London August 14, 2024 Over the past few years Leeds has emerged as a go-to destination for British institutions looking to venture beyond the M25. Since 2018 Channel 4, the Bank of England, the Financial Conduct Authority and the UK Infrastructure Bank have all opened hubs or expanded their presence in the city, adding hundreds of new jobs and [...]
Flutter Entertainment: Paddy Power and Betfair owner ups guidance as US demand soars August 14, 2024 Flutter Entertainment, the gaming giant behind Paddy Power and Betfair, has upped its guidance amid booming demand from its US audience. The Dublin-headquartered firm, which is listed in New York but has a secondary listing in London, has projected a 20 per cent year-on-year increase in group revenue and a 34 per cent rise in [...]
Crest Nicholson shares slump as Bellway walks away from £720m takeover August 13, 2024 London-listed housebuilder Bellway has announced it will not make a firm offer to buy rival Crest Nicholson with the company stating that its “strong balance sheet” and land bank would be sufficient to fuel growth independently. Following the announcement Crest Nicholson’s shares slumped by just over 16 per cent to 221p per share. Bellway first [...]
Synthomer rebounds to profit as £13m cost cuts offset sluggish demand August 13, 2024 Chemicals group Synthomer has surged back into the black, defying sluggish demand by banking £13m through cost-cutting measures. The London-listed firm, which is headquartered in Essex, made an underlying profit of £2.5m in the first six months of 2024, up from an underlying loss of £6.7m in the same period of 2023. Its shares jumped [...]
Gem Diamonds reports revenue jump despite plummeting demand for mined stones August 13, 2024 Mining company Gem Diamonds has reported a strong start to its financial year after uncovering eight diamonds over 100 carats in the first six months of 2024. The London-listed firm, which mines in the Maluti Mountains of Lesotho, said the high-carat finds had helped its revenue soar to $77.9m (£60.8m) compared to $71.6m (£55.9m) in [...]
Safestay: Hostel group continues European expansion with new Budapest property August 13, 2024 Hostel group Safestay has acquired a new property in Budapest as part of its continued expansion into mainland Europe. The London-listed company, which is headquartered in the city, said the five-storey site, located near the Danube River and Budapest’s shopping district, will allow it to add an additional 150 beds to its network, bringing its [...]
