Sofa chain DFS hails bumper half-year profits March 23, 2016 Shoppers are in the market for a new sofa and they are coming to buy them at DFS, according the furniture chain which posted a jump in first half profits. The company, which trades under its eponymous brand as well as Sofa Workshop and Dwell, said it made a pre-tax profit of £16.2m in the six [...]
Premier Foods’ share price soars as Mr Kipling owner rejects £500m takeover approach by US food giant McCormick March 23, 2016 Shares in Premier Foods have rocketed by 65 per cent today after the Mr Kipling and Bisto gravy owner confirmed it has rejected a second £496m takeover approach from US rival McCormick, saying the offer significantly undervalued the company. The food company said it was was first approached on 12 February regarding a possible cash offer of 52 p per share, which [...]
BHS landlords and creditors approve crucial CVA vote to slash rents March 23, 2016 Struggling department store chain BHS will live to fight another day after creditors and landlords today voted in favour of a restructuring deal to slash the rent bill for its 164 UK stores. The company said 95 per cent of creditors approved a Company Voluntary Arrangement (CVA) for 125 stores at a meeting at the Novotel Hotel in Hammersmith this morning – [...]
Bond film Spectre boosts fourth quarter box office takings at cinema chain Vue International March 22, 2016 Cinema chain Vue International has hailed record full-year results as blockbusters such as James Bond movie Spectre helped to boost box office takings in the fourth quarter. In a presentation to bondholders, Vue's parent company Vougeot Bidco said group turnover increased by 17.4 per cent to £180.6m in the three months to 26 November, taking full-year sales to £697.9m. The company, which [...]
The City’s Walkie Talkie skyscraper is finally full after CISI snaps up last remaining floor March 22, 2016 The developers behind the Walkie Talkie skyscraper have let the last remaining floor in the building two years after completion in a milestone moment for the City. The Chartered Institute of Securities and Investment (Cisi) has agreed to take the third floor of the Rafael Vinoly-designed building at 20 Fenchurch Street at a rent of around £65 per square feet, City A.M. [...]
EU referendum: A Brexit would make average Briton $30,000 better off by 2020, says report March 22, 2016 The average UK citizen could be $30,000 (£21,000) better off by 2020 than they are today if Britain voted to leave the EU, research by New World Wealth (NWW) has claimed. In a note out today, the wealth intelligence group estimates that the average wealth per person would rise from $147,000 to $180,000 by 2020 if a Brexit went [...]
Primary Health Properties launches £120m equity raising to fund buying spree March 22, 2016 Primary Health Properties (PHP) has launched a £120m equity raising to help pay down debt and increase its war chest for healthcare property acquisitions. The listed-company will issue of up to 120m shares at a discounted price of 100p a share compared with yesterday's closing price of 110.50p. It can also decided to increase the size of the Issue [...]
Bellway’s share price rises as profits smash expectations March 22, 2016 Bellway shares rose 3.6 per cent in morning trading after the UK housebuilder beat analyst expectations, reporting a near 43 per cent jump in profits to £226.6m in the first half to 31 January. The family-owned group's better-than-expected profits was largely due to its operating margin, which came in at 21.4 per cent compared with 19.9 per cent the same [...]
Majestic-owned Naked Wines raises glass to record £100m sales March 22, 2016 It has been a challenging year for Majestic Wine with a lack of good news to toast to. However, the company had reason to cheer today after announcing that its younger crowdfunding business Naked Wines has hit a milestone £100m of sales. Majestic bought Naked Wines for £70m in April last year to help boost its online presence [...]
John Lewis Partnership hires British Airways boss Keith Williams as new deputy chairman March 22, 2016 The John Lewis Partnership has appointed British Airways' outgoing boss Keith Williams to take over Mark Price as its new deputy chairman. Williams is already a member of the Partnership board after joining in March 2014 and will succeed Price on 4 April, who is leaving his dual role as deputy chairman and Waitrose managing director to take up [...]
