Barratt’s £2.5bn merger with Redrow now hinges on sale of 10 houses August 8, 2024 A £2.5bn merger between housebuilders Barratt and rival Redrow now hinges on the sale of 10 houses after the Competition and Markets Authority (CMA) said the deal could create local competition issues. In a ruling issued this morning the watchdog said the deal, announced in March 2024, could lead to a “substantial lessening of competition” [...]
Hostelworld: Travel agency starts to pay off pandemic debt after record bookings in Asia August 8, 2024 Backpacking Brits looking for cheap stays in Asia and Central America helped online travel agency Hostelworld achieve a record performance in the first half of its financial year. The Irish company, which is listed in London, reported record bookings in Asia and Central America in the six months to June 30. Net booking rose by [...]
Infrastructure firm Hill and Smith shares fall as UK business weighs on bottom line August 8, 2024 In a statement, the firm flagged challenges in its UK business, which has grappled with reduced demand from public sector customers.
Housing operator Mears ups guidance as Ministry of Defence extends contracts August 8, 2024 Affordable housing operator Mears has reported an “excellent” set of results driven by government social housing contract wins and high demand from immigration-related services. Mears, which manages 17,000 houses for local and central government, reported a 10 per cent rise in revenue for the six months ended June 30, to £580m up from £525.6m. Profit [...]
Helios Towers shares drop: Debt rises, revenue and profit lifts as guidance ‘tightened’ August 8, 2024 Shares in telecommunications tower company Helios Towers plunged more than 12 per cent in early trading on Friday after it said it has racked up a larger debt pile in its interim results. The London-listed company said net debt edged up three per cent to $1.76bn (£1.39bn) in the six months to 30 June. Results [...]
FTSE 100: London markets pare losses and US stocks surge after jobless figures August 8, 2024 London markets dropped on Thursday morning, unwinding much of their gains made on Wednesday following a massive sell-off earlier in the week triggered by fears of a US recession.
Beazley: Shares hit all-time high after insurer doubles profit and improves guidance August 8, 2024 Shares in Beazley have hit an all-time high after the Lloyd's of London insurer more than doubled its profit in the first half of 2024 and improved its outlook for a key measure of full-year profitability.
Assura: Group snaps up 14 private hospitals as firm gears up for Labour spending spree August 8, 2024 Healthcare property giant Assura has announced a £500m acquisition of a UK private hospital portfolio from Canadian group Northwest Healthcare Properties. The move comes following Labour’s commitment to use more private healthcare providers to help clear the NHS treatment backlog. The takeover includes 14 locations averaging 36 registered beds per hospital and is predominantly based [...]
FTSE 100 engineer Spirax misses expectations amid ‘weak’ macroeconomic backdrop August 8, 2024 Spirax Group has missed expectations as the FTSE 100 engineering firm highlighted challenging trading conditions in its key markets.
Savills hails ‘signs of market recovery’ as half-year sales and profit rise August 8, 2024 Sales and profit increased at estate agent Savills in the first half of 2024 as both commercial and residential markets begin to show signs of recovery. The FTSE 250-listed firm has reported a five per cent rise in its revenue, from £1.011bn to £1.063bn, in the six months ended June 30. Its underlying pre-tax profit [...]
