Ultimate Products appoints retail veteran and former Poundland CEO ahead of potential IPO next year December 12, 2016 NULL
Brexit vote hits deal numbers in third quarter December 6, 2016 The total number of mergers and acquisitions (M&A) involving UK companies in the three months to September almost halved from the previous quarter. The data from the Office of National Statistics is the first indication of how deal activity has been impacted following the UK’s decision to leave the European Union in June’s referendum. In total, [...]
Brammer’s board accepts bumper offer after tumultuous 2016 November 23, 2016 Shares in UK parts distributor Brammer soared nearly 70 per cent after receiving a premium offer from a US buy-out fund. Advent International, which has previously held stakes in Poundland, Fat Face and mental health provider the Priory Group, offered £222m to take the firm private. The offer is a 69 per cent premium to [...]
Sainsbury’s like-for-like sales fell for its first half, but statutory profit is up November 9, 2016 Sainsbury's like-for-like sales excluding fuel fell by one per cent in the its first half as the supermarket faces an uphill struggle to entice customers through its doors. The company eked out more profit however. Sainsbury's share fell at the open, ditching almost five per cent after it warned second half underlying profit is expected [...]
Toblerone bars in the UK have changed shape and no one is happy about it November 8, 2016 Fans of the Toblerone are bitterly disappointed after the company revealed a change to the shape and size of its popular chocolate bar. Mondelez International, who makes the product, has increased the gaps between the triangles to reduce the weight of two of its bars in the UK. It claims this is due to a rise in [...]
In for a pound: Sainsbury’s just poached the chief executive of Poundland November 7, 2016 Sainsbury's has gone bargain hunting for its new chief financial officer, after it announced this morning it has appointed Kevin O'Byrne, currently chief executive of Poundland, to the role. O'Byrne has been chief executive of B&Q UK and Ireland, as well as being its group finance director. He's also previously been group finance director at [...]
Someone is selling a jar of Marmite on eBay for £100,000 as the price war between Unilever and Tesco rolls on October 13, 2016 Someone is trying to sell a jar of Marmite on eBay for £100,000 amid fears that the stocks may run low due to a supply dispute between Tesco and Unilever. Tesco has pulled Marmite and all other Unilever brands from its website after Unilever attempted to increase its wholesale prices. At time of writing Tesco's share price [...]
Elliott Advisors reverses loss-making activities after cutting UK wage bill October 6, 2016 The UK arm of the activist fund manager involved in the likes of Poundland, SABMiller and Samsung has swung back into profit. Elliott Advisors UK, which runs British operations on behalf of its US parent, made a profit of £2.6m in the year to December 2015 after generating a loss of £2.7m the year before. [...]
Brexit negotiations will cost UK £1 per person September 29, 2016 Planning for Brexit is set to cost the government £65m a year and will require at least 500 extra civil servants, a Whitehall-watching think tank has concluded. The Institute for Government (IFG) said "time and energy is being wasted on political squabbles and turf wars", and added politicians had no idea how their departments and the civil [...]
Activist investor benefits from James Bond studio takeover September 13, 2016 Crystal Amber Fund’s share price bumped up today after the activist investor said its net asset value (NAV) per share had “recovered strongly” after the EU referendum. The investor was boosted after its full year, ending 30 June, by the takeover of James Bond filmmaker Pinewood Studios, which Crystal held a 5.7 per cent stake [...]