Fashion retailer The Very Group refinances debt after raising £575m bond August 11, 2021 Online fashion retailer The Very Group has raised a £575m bond that will expire in 2026 to refinance its debt. The bond was raised through the issuing of senior secured notes due in 2026 and will be used to refinance and extend the group’s existing debt. The 6.5 per cent notes were rated “B3 stable” [...]
Gem Diamonds revenue drops slightly as forecast remains on track August 11, 2021 Gem Diamonds reported a 10 per cent fall in revenue for the first half of 2021 due to lower diamond prices and volumes. The firm made $104m (£75m) in revenue from its sale of rough diamonds, down from $115.1m (£83m). The diamond miner, who owns Letšeng mine in Lesotho, recovered 58,831 carats, a slight increase [...]
Provident losses widen as doorstop unit winds-down August 11, 2021 Lender Provident Financial reported swelling losses today as costs ballooned for the wind-down of its doorstep lending unit.. Provident said statutory pretax loss totalled £44.2m in the six months ending 30 June, compared to £28.1m the previous year. Away from its consumer credit division (CCD) however Provident saw adjusted profit jump a hefty from £4.9m [...]
Goodwin see positive final results despite the placement of large capital projects slowing August 11, 2021 Goodwin PLC has posted strong final year results as the impact of the pandemic on the firm appears to have been abated. The pre-tax profit for the engineering company saw an increase from £12.1m to £16.5m for the year up to the 30 April 2021. That was despite a slow down in capital building projects, [...]
No place like home: Staycations set to sizzle into 2022 August 11, 2021 Staycations are set to remain the holiday of choice for Brits seeking to avoid the hassle of Covid-19 regulations on international travel. Data from Square indicates almost half of UK holidaymakers plan to continue staycations in the UK instead of travelling abroad until the pandemic is over, or at least until 2022. Cornwall, the Lake [...]
DEBATE: Are too many people going to university? August 11, 2021 Another A-level results day has come and gone. After even more disruption during the school year, a record number of school leavers achieved an A or A*, prompting fears there would be too many students who make their grades and not enough places at university. Many have argued the traditional focus on university is outdated. [...]
Quilter announces robust interim results as net client cashflow doubles August 11, 2021 Quilter, a British wealth management company, has published robust interim results with net client cashflow doubling compared to the same period in 2020. Net Client Cash Flow saw a year on year increase of 127 per cent in the first half of 2021 reaching £2.5bn while adjusted profit before tax increased by 20 per cent [...]
Tech boss outlines £300m plan to reclaim UK chip plant if China deal blocked August 11, 2021 The former boss of tech firm Imagination Technologies has reportedly pledged to spend £300m on Britain’s biggest microchip factory should a Chinese-led takeover fall through. Six companies, led by Ron Black, are ready to make a bid for Newport Wafer Fab if the government blocks its sale to Shanghai-owned firm Nexperia, the Telegraph reported. Last [...]
NortonLifeLock to buy UK cyber firm Avast in $8bn deal August 11, 2021 US cyber firm NortonLifeLock has confirmed it will buy British rival Avast in a deal that values the London-listed company at up to $8.6bn (£6.2bn). In a statement yesterday the two companies said Avast shareholders will receive a combination of cash and newly-issued shares in Norton, with alternative options available. Based on the US firm’s [...]
Advanced manufacturing will be the cornerstone of Britain’s future economy August 11, 2021 This year marks the 10th birthday of the high value manufacturing catapult, a project to help companies of all sizes commercialise their cutting-edge ideas by giving them access to world class facilities, scientists and technology. British manufacturing and innovation is the future of our economy and it is now the largest advanced manufacturing research capability [...]
