Economists are not concerned by the lastest GDP figures. They should be September 11, 2024 The growth party was always going to end sooner or later. In the first half of 2024, the economy exceeded expectations month after month, making the UK the fastest-growing economy in the G7. One statistician at the ONS even said the economy was growing “gangbusters“. Alas, nothing lasts forever. Figures out this morning showed that the [...]
Deliveroo shares hop to two-year high as it aims for upmarket move September 11, 2024 Deliveroo shares bounded to a two-year high on Wednesday after the food delivery company announced plans to switch the category of its stock listing, in a move that could attract a wave of new investors. The company is proposing to move its shares from the Equity Shares (Transition) category to the Equity Shares (Commercial Companies) [...]
WH Smith shares jump on buyback plan after pension buy-out frees up cash September 11, 2024 WH Smith has announced strong revenue growth, driven by a boost in its airport and train station stores and a £50m share buyback programme. It also announced a £85m cash benefit as the result of its pension fund buy-out. Shares in WH Smith rose more than 12 per cent in early trades. Revenue at the [...]
Boohoo makes major US change in bid to broaden appeal September 11, 2024 Boohoo has announced significant changes to its operations in the US market as it looks to broaden its product offering across the Atlantic. The Manchester-headquartered group will stop supplying US customers from its distribution centre in Pennsylvania, as the company’s management look at ways to drive a more sustainable and profitable business. Orders will instead [...]
Trustpilot shares jump on earnings beat and £20m buyback September 11, 2024 Shares in Trustpilot have jumped after the global review platform reported higher-than-expected earnings for the first half of 2024 and unveiled a new share buyback. The FTSE 250 firm gained as much as 9.3 per cent in early trading on Wednesday. Its stock price has surged 157 per cent over the last 12 months. Trustpilot [...]
Rentokil shares plunge as group issues profit warning September 11, 2024 Rentokil shares have plunged in early trading this morning after the firm issued a profit warning for the year. The pest-control firm said it would take a £80m hit to its operating profit after expanding its US workforce to meet peak season demand, which fell short of expectations. The Crawley-based company, which is listed in London [...]
London leading the way as housing market ‘normalises’, Winkworth says September 11, 2024 Pretax profit climbed 26 per cent to £1.0m from just over £810,000 last year.
Epwin expects demand for building products to ‘remain subdued’ in 2024 September 11, 2024 Building products supplier Epwin has posted a slide in revenue for the first half of 2024 and said demand would likely "remain subdued" through the rest of the year.
Asos slashes £500m debt pile as refinancing deals revealed September 11, 2024 Asos has announced the successful refinancing of the majority of its £500m debt due in 2026, with only just over £70m outstanding. The online fast-fashion retailer, which has struggled with post-pandemic shopping trends, had £500m in convertible bonds due 2026. The London-headquartered company has now exchanged £253m into convertible bonds due in 2028 rather than [...]
Dunelm prepares to open first London stores as sales and profit rise September 11, 2024 London-listed homeware retailer Dunelm has seen its sales tick up despite its customers facing “competing demands” for their disposable income. The Leicester-headquartered firm saw its overall revenue climb to £1.7bn in the 12 months to 29 June 2024, up from £1.64bn the previous year—growth of 4.1 per cent. This increase was largely driven by 6.2 [...]
