Coronavirus: Angling Direct secures new credit facility to cope with outbreak April 6, 2020 Fishing supplies retailer Angling Direct announced this morning it has secured a new credit facility to help it cope with the impact of coronavirus. The company has agreed a £2.5m credit facility with Natwest after it was forced to furlough staff and close all of its stores after the UK entered a coronavirus lockdown. Angling [...]
UK construction sector has worst month since 2009 amid coronavirus lockdown April 6, 2020 UK construction sector output plunged at the fastest rate since the financial crisis in March as coronavirus containment measures shut down sites and caused new orders to slump, survey data has shown. The IHS Markit/Cips construction purchasing managers’ index (PMI) tumbled to 39.3 in March from 52.6 in February. This was the lowest since April [...]
Coronavirus: UK car registrations decline more than during 2008 financial crisis April 6, 2020 The total number of registrations of new cars fell 44.4 per cent in March, a steeper decline than during the financial crisis of 2008-2009, as car showrooms closed in line with the government’s guidance for tackling coronavirus. According to the Society of Motor Manufacturers and Traders (SMMT), 203,370 fewer cars were registered this year than [...]
Arrow Global shares jump despite scrapping dividend April 6, 2020 Debt purchasing group Arrow Global’s shares shot up almost 11 per cent today as it said it is well placed to survive the tumult of the coronavirus outbreak, despite cancelling its dividend. Arrow Global said it will not pay a final dividend of 8.7p for its 2019 financial year in order to shore up cash [...]
Eurozone construction activity falls at fastest rate for more than a decade April 6, 2020 Construction activity in the Eurozone contracted sharply in March as measures to contain the coronavirus outbreak hit activity and demand. The IHS Markit Eurozone construction PMI plunged from 52.5 in February to 33.5 in March, the steepest decline in construction activity since February 2009 during the financial crisis. The downturn in total activity was broad-based [...]
Coronavirus: The Restaurant Group boss to take 40 per cent pay cut April 6, 2020 The boss of Wagamama owner The Restaurant Group will take a 40 per cent pay cut as the casual dining company battles the financial impact of coronavirus. Chief executive officer Andy Hornby, who joined the company in August last year, will also forego his bonus of £98,000. The Restaurant Group finance chief Kirk Davis has [...]
Sage cancels £250m share buyback and scraps guidance April 6, 2020 Software company Sage Group today said it was cancelling a £250m share buyback and withdrawing its financial guidance after coronavirus hit its revenue, The company said it thinks organic recurring revenue growth will be below its guided range of eight-to-nine per cent and decline in other revenues will “accelerate significantly” in the second half, with [...]
Gresham House Strategic retains commitment to raising dividend April 6, 2020 Gresham House Strategic will raise its dividend as its board and manager insist the firm is “well-positioned” during the coronavirus crisis. In a statement, Gresham House Strategic’s board and manager say they “retain confidence” in the strategy and will retain their commitment to raising the dividend 15 per cent. The investment company said it had [...]
Coronavirus: What Olympians can teach us about working from home (seriously) April 6, 2020 After spending four years laser-focused on a single goal, last week world class athletes woke up to the news that the Olympic Games has been postponed as a result of the COVID-19 pandemic. Athletes will now have to keep up the momentum until June 2021 which will no doubt take some readjusting and a fresh [...]
