‘Covid-19 cliff edge’: Lateral flow test maker suffers major blow to revenue July 7, 2022 Clinical diagnostics specialist Novacyt has suffered a major blow to its revenue, as the feared ‘Covid-19 cliff edge’ comes into focus “faster than expected”. The London-listed company, which provides lateral flow tests, has seen its revenue crumble more than 70 per cent to £16.5m in the first half of this year, compared to £52.2m a year [...]
Wood Group returns to revenue growth as bosses promise of more gains to come July 7, 2022 Wood Group has returned to revenue growth of $3.2bn (£2.6bn) over the past six months following strong demand in its consulting and operations and a billion-dollar disposal. While the FTSE group noted a decline in projects in the six months ended 30 June, it hailed a strong order book, which has grown 18 per cent [...]
Supply chains and lack of labour are slowing building, says Persimmon boss July 7, 2022 The boss of Persimmon, one of the UK’s largest housebuilders, has cautioned that planning system delays, disruption in material supply chains and challenges in securing labour have weighed on completions. The housebuilder completed 6,652 homes in the six months to 30 June, down from 7,406 in the same period last year, according to its latest [...]
UK house prices hit average of £294,845 in largest growth spurt since 2004 July 7, 2022 House prices leaped in June in the largest increase of monthly growth since 2004, hitting an average of £294,845 after months of declining growth. Climbing ever-closer to the £300,000 mark, house prices jumped 1.8 per cent in June, after climbing one per cent in May, when the average cost of a home was £289,099, according [...]
GSK shareholders give Haleon split the green light July 7, 2022 Shareholders in British pharmaceutical giant GlaxoSmithKline (GSK) gave its historic demerger the “expected” seal of approval yesterday, meaning its consumer division will be able to list on the London Stock Exchange as a separate entity later this month. In the most significant corporate change at GSK for the last two decades, the split will see [...]
Investors pour £22m into real estate trust Impact Healthcare July 6, 2022 Investors have poured more than £22m into a London-listed healthcare real estate investment trust (REIT), the company’s board announced today. Impact Healthcare REIT, which specialises in care home investments, has grown its market capitalisation north of £450m since listing on London’s main market in 2017. The funds from a share placing, which the board announced [...]
Rising mortgage costs already eating into a third of annual income, research finds July 6, 2022 The rising cost of a mortgage is already eating into nearly a third of homeowners’ annual income, according to new research, casting even more concern over looming rates rises. UK households are this year facing a historic cost of living squeeze, which is expected to prompt the Bank of England to hike interest and mortgage [...]
Chairman of abrdn’s Chinese investment vehicle blames ‘zero-Covid-19’ policy for collapsing returns July 6, 2022 The chairman of abrdn’s Chinese investment vehicle has pinned collapsing returns on Beijing’s controversial ‘zero-Covid-19’ stance and geopolitical woes. While the country is still considered to have significant growth prospects in the long-term, returns on assets in the country have plunged 23 per cent in the six months to 30 April, reversing a nearly 19 [...]
Majority of Tory voters think Boris Johnson should resign, YouGov poll finds July 6, 2022 The majority of Conservative voters think prime minister Boris Johnson should resign, amid continued party turmoil and shock resignations last night. The number of Tory voters now disapproving of the current party leader has leaped 20 per cent since 9 June, according to the latest poll by YouGov. Rishi Sunak quit as chancellor on Tuesday, [...]
Topps Tiles’ commercial business to climb into profitability next year July 6, 2022 The UK’s largest tile retailer, Topps Tiles, has said its historically loss-making commercial business will climb into profitability next year, as it continues to navigate falling consumer confidence, supply chain challenges and historic levels of inflation. “We remain confident that the business will break even in the second half of the year and then move [...]