British defence firm Meggitt posts humble growth as it gears up for £6.3bn US takeover April 21, 2022 Revenue for the British defence firm Meggitt was up a humble five per cent this morning as the company gears up for a US takeover. Whilst this was a slight boost from the previous year, revenue was still down 23 per cent compared to pre-pandemic levels. Meggitt stated that though it was pleased with the [...]
BHP: Mining giant slashes production guidance for copper and nickel April 21, 2022 Australian metals firm BHP has announced it is reducing total copper and nickel production for the full year yet is on track with previous iron ore estimates. In a nine month trading update on the London Stock Exchange, BHP said its production guidance for the 2022 financial year remained unchanged for iron ore, metallurgical coal [...]
Slipping revenue and breaking-even: Covid-19 knocks media group Bonhill April 21, 2022 Covid-19 has continued to knock media group Bonhill hard, as the company reports slipping revenue, operating losses and breakeven earnings. The London-listed company had its revenue dwindle eight per cent to £16.4m in the year to 31 December, while it swallowed an operating loss of £8.3m. The business-to-business focused media firm also reported a breakeven [...]
LadBible boosts revenue by 81 per cent following glowing London debut April 21, 2022 Ladbible owner LBG Media affirmed its immense growth yesterday, revealing revenue spiked 81 per cent to £54.5m since floating on the London Stock Exchange. Managing brands like SPORTbible and Tyla, the group reported direct revenue growth of 58 per cent to £22.4m thanks to significant increases in content marketing and direct display sales in the [...]
Investment platform AJ Bell has a boost in customers by a fifth April 21, 2022 Investment platform AJ Bell increased its number of customers by a fifth last year with an income of more than £1.5bn over the last three months. The company had an increase in the amount of assets under its guise to almost £75bn, which is an increase of nearly 15 per cent on the previous year, [...]
City of London Corp to decide whether to let black cabs back to Bank junction April 21, 2022 A motion to allow black cabs to cross through Bank junction 24/7 will be reviewed by the City of London Corporation today. Under the local authority’s current rules, only buses and cyclists are allowed to cross the busy City junction between 7am and 7pm on weekdays. A motion brought forward by alderman Tim Hailes, and [...]
THG boss Matt Moulding slams ‘numerous’ proposals from suitors as unacceptable April 21, 2022 E-commerce beauty firm THG has dubbed a number of approaches from potential bidders as “unacceptable.” There had been speculation that the online retailer – which owns brands including Cult Beauty and Lookfantastic – could be prime for a takeover, after experiencing a turbulent year. In a trading update, CEO Matthew Moulding said the board had [...]
Shell urges shareholders to reject activist calls for more stringent climate change targets April 21, 2022 Shell has called on investors to rejects calls from activists to ramp up its environmental targets, ahead of its annual general meeting next month.
Ed Warner: The higher the price for Chelsea, the sooner their new owners will feel the strain April 21, 2022 Unless the media have been blindsided by a canny investment bank, it seems that there are no sovereign wealth funds or squillionaires left in the running to buy Chelsea. No Musk, Bezos, Chinese tech magnate or gas-rich autocracy. The three remaining bidders, as reported, are all consortia. Let the game theory commence. The selling bank, [...]
City Moves: Who’s switching jobs in the Square Mile? April 21, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Future Specialist media platform Future has a new UK group commercial director, who brings more than three decades experience to the position. Clare Dove, who has held senior commercial roles at Condé Nast and Trinity Mirror, will help the company identify new [...]
