Topps Tiles reports mixed six months after lockdown closed stores May 18, 2021 In the six months to 27 March, Topps Tiles produced a profit before tax of £4m, after lockdown restrictions in the first three months of the calendar year heavily impacted the group’s performance. The retailer reported a half year of contrast this morning, with retail like-for-like sales up nearly 20 per cent in the first [...]
Robinsons owner Britvic reinstates dividend after tough but resilient six months May 18, 2021 Britvic’s revenue and profit slipped in the six months to 31 March, however the soft drinks retailer has decided to reinstate its dividend after a resilient performance despite Covid restrictions. Revenue at the company fell to £617.1m from £698.8m during the same period last year, and profit after tax slipped to £33.2m from £38.9m. Nevertheless, [...]
Medicago and GSK vaccine trial sees impressive Covid antibody response May 18, 2021 The vaccine being developed by Medicago in partnership with GlaxoSmithKline (GSK) has reported positive results in its Phase 2 clinical trial, with volunteers displaying antibody responses 10 times higher than people recovering from Covid-19. Biopharmaceutical company Medicago developed the plant-derived Covid-19 vaccine, which has been tested in combination with GSK’s pandemic adjuvant. The results of [...]
Footwear retailer Shoe Zone could close more stores after revenue takes a kicking May 18, 2021 Shoe Zone saw overall revenue drop to £40.4m in the six months to 3 April, down from £68.9m in the corresponding period a year earlier after lockdown measures saw revenue from physical stores plummet. In the first half of its financial year store revenue at the shoe retailer stood at just £22.8m, down from £63.3m [...]
‘The Big Short’ investor reveals $534m bet against Tesla May 18, 2021 One of the hedge fund managers made famous by the Oscar-winning film The Big Short has taken out a sizeable short position against Tesla. In a regulatory filing yesterday, Michael Burry’s Scion Asset Management said it had bearish put options worth $534m against the electric car firm’s stock. Put options give investors the right to [...]
Bringing home the bacon: Pork producer Cranswick raises dividend and Covid bonus after bumper year May 18, 2021 Bringing home the bacon: Pork producer Cranswick raises dividend and Covid bonus after bumper year
UK unemployment rate unexpectedly falls to 4.8 per cent May 18, 2021 Britain’s unemployment rate unexpectedly fell to 4.8 per cent between January and March, official figures showed this morning. Economists had expected the unemployment rate to hold at 4.9 per cent during the first quarter of the year, given that the country was in lockdown. The rate of employment in the UK increased for the fifth [...]
Emerging Asia-Pacific capital markets: challenges and opportunities May 18, 2021 CFA Institute has published ‘The Emerging Asia Pacific Capital Markets: Challenges and Opportunities’. The report, compiled by Larry Cao and Luis Garcia-Feijóo, presents perspectives from local authors on the financial history, current status and outlook for 11 countries. Their insights should be particularly valuable for prospective investors. Many have argued that the 21st century will [...]
Imperial Brands on track after solid first half May 18, 2021 Tobacco giant Imperial Brands today said that it was on track to hit its full year targets after it increased its revenue in the first half of the year. The FTSE 100 firm said that revenue was up 3.5 per cent at the half year at $15.6bn, driven by a 3.2 per cent in tobacco [...]
Phoenix confirms talks ‘ongoing’ to sell European business in £550m deal May 18, 2021 Life insurance consolidator Phoenix Group has confirmed it is in discussions to sell its European businesses, in a deal reportedly worth £550m. The group – which bought out the majority of Standard Life Aberdeen’s insurance business in 2018 – said that talks were ongoing and there was no certainty a deal will be struck. In [...]
