By: Rupert Hargreaves

Managing Editor Rupert Hargreaves is City AM's Managing Editor. He also edits Whisky Business: City AM's monthly look at the world of whisky and covers the insurance sector, including Lloyd's of London. Before joining City AM, he helped lead the digital team at MoneyWeek, the UK's best-selling financial magazine. Rupert has over 15 years of experience in financial journalism and holds qualifications from the CFA Institute and the Chartered Institute for Securities & Investment (CISI).

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Hiscox: Profit hits record at Lloyd’s of London insurer

February 27, 2025

Lloyd’s of London insurer Hiscox has reported a record profit for the year ended 31 December 2024, with pre-tax earnings reaching $685.4m (£541.5m), a 9.5 per cent increase from the previous year. The insurance group’s net insurance contract written premiums rose to $3.7bn (£2.9bn) in 2023, up from $3.6bn (£2.8bn) in 2023. Insurance contract written [...]
Haleon launches buyback and hikes dividend after strong year

February 27, 2025

Consumer healthcare giant Haleon has reported a strong financial performance for 2024, with organic revenue growth of five per cent. However, revenue declined by 0.6 per cent on a reported basis to £11.2bn, while adjusted operating profit increased 9.8 per cent to £2.5bn. Haleon focuses on over-the-counter medicines, oral health, and vitamins, minerals and supplements. [...]
Serco’s profit jumps as defence arm grows

February 27, 2025

Serco has posted revenue of £4.8bn for 2024, in line with prior guidance, thanks to a notable improvement in organic growth, particularly in its North American Defence business. Serco, the global provider of public services, reported underlying operating profit growth of 10 per cent to £274m, with a sharp 30 per cent increase in the [...]
Morgan Sindall hikes dividend as revenue hits record

February 26, 2025

Morgan Sindall, the UK-based construction and regeneration group, has reported record results for the year ending 31 December 2024. The group recorded a 10 per cent increase in revenue to £4.55bn, while adjusted operating profit rose 15 per cent to £162.6m. Adjusted profit before tax grew by 19 per cent to £172.5m, with adjusted earnings [...]
Hikma’s profit jumps as demand for generic medicines booms

February 26, 2025

Hikma Pharmaceuticals reported a strong financial performance for 2024, with revenue rising nine per cent to $3.13bn (£2.47bn) and operating profit up 67 per cent to $612m (£483m). Profit attributable to shareholders nearly doubled, reaching $359m (£284m), while earnings per share rose 88 per cent. The multinational pharmaceutical company that develops, manufactures, and markets a [...]
Croda International’s profit slumps as sales take a hit

February 25, 2025

Croda International reported a slight decline in sales for 2024, with revenue falling one per cent at constant currency to £1.63bn. Excluding Covid-19-related lipid sales from 2023, underlying sales rose two per cent, led by strong growth in the consumer care business. Consumer care sales rose seven per cent at constant currency, driven by demand [...]
Smith+Nephew’s profit jumps as transformation play pays off

February 25, 2025

Smith+Nephew reported revenue growth for 2024, as the company’s 12-Point Plan delivered improved financial performance, better margins, and stronger cash flow. The medical technology reported revenue of $5.81bn (£4.59bn) up 5.3 per cent on an underlying basis, with further acceleration expected in 2025. Fourth-quarter revenue rose 8.3 per cent year-on-year to $1.57bn (£1.24bn), bolstered by [...]
Conduit Holdings shrugs off catastrophe losses

February 19, 2025

Despite rising catastrophe claims, Conduit Holdings, the Bermuda-based reinsurance business, has reported a jump in gross premiums written for the 2024 financial year. Gross premiums written reached $1.16bn (£917m), a 24.8 per cent increase on the prior year, while the firm delivered a return on equity of 12.7 per cent, down from 22 per cent [...]
Antofagasta: Copper miner’s profit jumps amid booming demand

February 18, 2025

Mining giant Antofagasta has reported a five per cent increase in revenue for 2024, driven by higher copper prices, although growth was partially offset by lower sales volumes. The group posted revenue of $6.6bn (£5.2bn) while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 11 per cent to $3.4bn. Profit before tax climbed five [...]
BHP: Mining giant hit by lower iron ore prices

February 18, 2025

Mining giant BHP has reported a jump in profit for the half-year ended 31 December 2024, despite a drop in revenue due to lower iron ore prices. Attributable profit surged to $4.4bn (£3.5bn), up 376 per cent from $0.9bn in the previous half-year. Underlying attributable profit, however, fell 23 per cent to $5.1bn due to [...]

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By: Rupert Hargreaves

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