Burberry shares fall as transformation plan takes toll on growth May 16, 2019 Shares in Burberry fell 4.5 per cent this morning after the firm posted broadly flat revenue and profit in the first year of its major transformation plan. Read more: Burberry keeps momentum from China despite trade war fears The figures Revenue remained broadly flat at £2.72bn for the year to the end of March. Pre-tax profit [...]
Dark clouds gather as one-sixth of British businesses struggle financially April 29, 2019 Nearly a sixth of British businesses are in financial trouble, amid concerns the UK could suffer a wide-ranging economic slowdown in the coming months, according to research. Read more: Natwest increases small business loan programme amid Brexit uncertainty A report by a leading insolvency firm has revealed there are 484,000 UK firms in “significant financial [...]
Tesco doubles dividend as profits surge 30 per cent after turnaround success April 10, 2019 Tesco boosted profits by almost 30 per cent in 2018 as it beat expectations, leading the supermarket to almost double its dividend as its chief executive revealed the supermarket has met the “vast majority” of its turnaround goals since its 2014 accounting scandal. The figures Pre-tax profits rose 28.8 per cent year on year to [...]
Moss Bros wipes out dividend as it swings to a loss after ‘extremely challenging’ year March 26, 2019 Historic men’s tailoring firm Moss Bros moved into the red this morning, blaming a turbulent trading environment for its first losses in almost a decade. Shares tumbled more than five per cent in early morning trading. Read more: Joules boss Colin Porter to take on role as Moss Bros chairman The figures In its preliminary [...]
B&Q owner Kingfisher’s boss to depart as profits slump and stores close March 20, 2019 Kingfisher announced the surprise departure of its chief executive this morning, as a swathe of store closures and a double-digit drop in profits puts mounting pressure on the embattled DIY group. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag Veronique Laury, who is currently one of six female chief executives in the [...]
Just Eat shares fall on 2019 outlook despite jumps in profit and revenue March 6, 2019 Just Eat scored huge boosts to profit and revenue in 2018 to relieve shareholder pressure to merge with a rival, it revealed today, but warned losses will impact 2019 earnings. The figures Profit before tax rose to £101.7m after a loss of £76m in 2017. Revenue rose 43 per cent year on year to £779.5m, [...]
Corporate insolvencies boost puts Begbies Traynor on track to meet expectations March 5, 2019 Corporate insolvencies rose by ten per cent in 2018, consultancy firm Begbies Traynor said in a trading update this morning, as it reported it was on track to meet full-year expectations. The restructuring firm announced it had seen a “good flow” of insolvency appointments in the three months to the end of January this year, [...]
Chinese demand for medicines helps Astrazeneca return to growth February 14, 2019 Strong growth in Chinese demand for new medicines helped Astrazeneca return to growth in 2018, it said today. The figures Product sales grew four per cent in 2018 compared to 2017, to hit $21bn (£16.35bn) in revenue. Fourth quarter revenue grew to $5.77bn, up five per cent year on year. Read more: Bristol-Myers Squibb to [...]
Premier Inn owner Whitbread warns of stalling profits as it launches share buyback scheme January 17, 2019 Whitbread will kick off the process of giving £500m back to shareholders today after completing the £3.9bn sale of Costa, but warned that uncertainty would stall profits next year. It said Premier Inn has added over 2,000 new rooms since the financial year began in March. The company has grown sales in its accomodation business [...]
Boohoo shares drop despite retailer lifting 2019 guidance after strong sales growth January 15, 2019 Boohoo had no cause for tears this morning as it revealed rocketing revenue helped it end 2018 on a high, raising guidance for its full-year sales. Sales grew 44 per cent year on year to £328.2m in the four months to the end of December, up from £228.2m in the same period in 2017. Read [...]