Equinor unveils steep drop in profits as fossil fuel prices fall July 26, 2023 Equinor's profits have tumbled in line with falling oil and gas prices, signalling an expected industry-wide decline in earnings.
Reckitt: Durex maker’s sales swell as price hikes offset volume slump July 26, 2023 Durex-maker Reckitt Benckiser said ramping up its prices had helped soften the blow of a volume slowdown in the first half of the year as it topped analyst expectations. Reckitt, which also owns Cillit Bang and Dettol among other brands, posted a pretax profit of £1.64bn for the first half of the year, down from [...]
Heathrow narrows losses but blames CAA price cap for staying in the red July 26, 2023 Heathrow Airport said on Wednesday it remained loss making in the first half of 2023 despite soaring passenger figures, blaming a cap on the amount it can charge airlines for using the hub. For the six months to June, the west-London hub saw adjusted pre-tax losses halve to £139m but said that the airport “remains [...]
BAT: Lucky Strike maker reaps rewards of vape shift with 1.5m new customers as profit nears £6bn July 26, 2023 Lucky Strike maker British American Tobacco (BAT) has seen dramatic revenue growth in its ‘new categories’ division thanks to its acceleration of investment in ever-more popular cigarette alternatives. Its revenue from vaping and tobacco-free products hit £1.6bn, a 29 per cent increase from the first half of 2022, and BAT said it is making “good [...]
Ofgem toughens finance requirements for suppliers in latest market clampdown July 26, 2023 Ofgem has announced toughened capital requirements for suppliers, as it looks to ensure firms are resilient to future market shocks.
Higher interest rates lift Santander UK profit to £1.2bn, warns mortgage market is cooling July 26, 2023 Santander UK saw its profit rise significantly in the first half of the year, but the bank also noted that applications for mortgages had been hit by recent economic volatility. In the first half of the year pre-tax profit climbed 18 per cent to £1.2bn from £993m last year. This came thanks to a 10 [...]
Tottenham Hotspur owner Joe Lewis indicted for ‘orchestrating a brazen insider trading scheme’ July 26, 2023 British billionaire and Tottenham Hotspur owner Joe Lewis has been indicted in New York for “orchestrating a brazen insider trading scheme”, a US attorney said. Damian Williams, the US attorney for the Southern District of New York, said in a video released by his office: “Today I’m announcing that my office, the Southern District of New York, has [...]
Just Eat CFO steps down as group returns to profit July 26, 2023 Just Eat Takeaway has said its chief financial officer Brent Wissink will step down next May as the group revealed it made a profit in the first half of the year. Wissink, who has been with the company since 2011, will step down in May next year at the company’s AGM to puruse other “opportunities”, [...]
WANdisco: Crisis-hit tech firm calls in tech stalwart Stephen Kelly to steady the ship July 26, 2023 WANdisco has announced tech stalwart Stephen Kelly will stay on as its permanent chief today after the firm was readmitted to trading yesterday following a fraud scandal. The firm has been mired in crisis since revealing in April that over $115m in sales bookings would be written off its results due to “potentially fraudulent irregularities” [...]
Lloyds profit remains flat on last year despite boost from rising rates but guidance lifted for the year July 26, 2023 Lloyds’ profit remained flat on last year despite the benefit of rising interest rates as the bank set aside more than anticipated to cope with bad loans. In the second quarter the high street bank recorded a pre-tax profit of £1.6bn, flat with last year but slightly lower than company compiled consensus. However, the profit [...]
