IKEA to inject £1bn into London over the next three years February 24, 2022 IKEA is set to inject £1bn into London over the next three years, as it opens the doors to its first small store in Hammersmith. The Swedish furniture retailer, known for its large warehouse stores, is looking to branch out into city centres with a smaller, more accessible offering. The West London store, a quarter [...]
BAE Systems posts strong 2021 results on the back of global instability February 24, 2022 Weapons maker BAE Systems today posted “strong results,” on the back of mounting geopolitical tensions, after its sales jumped 2 per cent last year, to heights of £21.3bn. The London firm said its orders exceeded expectations in 2021 after its sales increased by £448m, as the firm said it expects “another year of good orders” [...]
Morgan Sindall doubles profits and share earnings in record results February 24, 2022 Morgan Sindall has doubled pre-tax profit in the past year, after the pandemic threw a spanner into British construction works. In a set of record results, the construction and regeneration group enjoyed a more than 100 per cent boost to earnings per share last year, which climbed from 108.6p to 226p. Shareholders has been left [...]
St James’s Place ups its dividend as bulging share prices bolster wealth manager’s coffers February 24, 2022 British wealth manager St James’s Place today posted record results, as bulging share prices saw the sums of money it manages grow by 19 per cent, to record heights of £154bn. The firm, which was established by South African financier Mark Weinberg and British banker Mike Wilson in 1991, after the pair received backing from [...]
WPP swings from £2.2bn loss with ‘fastest organic growth for over 20 years’ February 24, 2022 WPP has swung from the eyewatering £2.2bn loss it swallowed in 2020, pulling in £1.2bn in profit last year. In what CEO Mark Read has hailed as WPP’s “fastest organic growth for over 20 years”, the technology, media and communications heavyweight has returned more than £1bn to shareholders, it said in its preliminary results today. [...]
Outsourcing giant Serco posts ‘outstanding’ results on the back of ‘toughest’ year ever February 24, 2022 UK government contractor Serco today posted bumper profits, as it continued to capitalise on Covid and the impacts of the global pandemic. The Hampshire headquartered firm said its profits soared by 21 per cent, as contracts for work on the UK governments Covid-19 response lasted much longer than expected into 2021. Serco CEO Rupert Soames [...]
Rolls Royce boss Warren East to step down as profits rebound February 24, 2022 Rolls-Royce reported a rebound in performance this morning as underlying profits hit £414m after the firm implemented a wide ranging overhaul which saw 9000 jobs cut permanently.
Anglo American profits soar to $20.6bn as bosses prepare to hike dividends February 24, 2022 Mining giant Anglo American reported record full year earnings and prepared to more than triple its annual payout to shareholders, as it felt the lift of soaring commodity prices which have boosted profits across the sector.
British Gas owner Centrica reports jump in profit and calls for market shake-up February 24, 2022 Energy giant Centrica said it needs to see “significant change” to address underlying issues in the UK’s energy market today as it reported it had weathered the energy crisis so far, with a 112 per cent profits boost in 2021.
City Moves: Who’s switching jobs in the Square Mile this week? February 24, 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. Howard Kennedy London law firm Howard Kennedy has bolstered its contentious trusts and estates team with a new partner. Strengthening the firm’s private wealth offering, Monika Byrska joins from Thomson Snell & Passmore where she was a [...]
