JD Wetherspoon’s share price dips as chair Tim Martin cautions of lower sales and added costs in the second half March 10, 2017 JD Wetherspoon's shares fell more than three per cent after the pub group reported half-year results slightly ahead of expectations but warned of a difficult second half to come. The figures The pub owner and operator said profit before tax and exceptional items jumped 42.8 per cent to £51.4m from £36m for the 26 weeks to 22 January. Like-for-like sales [...]
X-ray company Medica Reporting plots £150m-plus IPO as private equity firm CBPE Capital seeks exit March 7, 2017 A private equity-backed x-ray company is plotting a stock market flotation, City A.M. can reveal. Medica Reporting, the UK’s largest remote radiology reporting network, is planning an initial public offering (IPO) that could value the company at more than £150m. Read more: London IPO, New York or sale? Sources say Misys is keeping its options [...]
Chancellor Philip Hammond expected to bank £12bn from borrowing outperformance in his first Budget March 5, 2017 Budget-day forecasts from the independent Office for Budget Responsibility (OBR) are expected to give chancellor Philip Hammond a boost in his efforts to hit his new fiscal targets. Borrowing could undershoot previous targets by as much as £12bn during the 2016-17 tax year, according to the OBR’s analysis of government borrowing figures up to January. [...]
When will it stop? Boohoo upgrades sales forecast yet again February 28, 2017 Boohoo has upgraded its sales forecast yet again, saying this morning that sales will double this year. Previously, Boohoo said its sales growth would be in the range of 46-48 per cent for the full year to 28 February. The online retailer, which targets millennials, said it had also improved its operations, meaning its margins [...]
Easyjet set to be ejected in FTSE’s quarterly reshuffle this week February 26, 2017 Easyjet is on course to dive out of the FTSE 100 this week, as part of the index’s quarterly reshuffle. The airline has seen its value decline by 40 per cent over one year and issued a profit warning last month, sending its shares down nine per cent on the day. The firm blamed a [...]
FTSE reshuffle: Dixons Carphone, Easyjet, Capita and Intu all face relegation February 24, 2017 It's FTSE 100 reshuffle time again next week – and research suggests Dixons Carphone, EasyJet, Capita and Intu Properties could all be in the relegation zone. The Share Centre said potential replacements include the Scottish Mortgage Investment Trust, whose focus on international investments means it is making the most of a stronger pound, and asset [...]
Purplebricks reveals share placing to raise up to £50m to build on US plans February 22, 2017 Purplebricks Group this evening revealed it would be issuing a new slew of shares in a bid to raise up to £50m to support its dreams of expanding across the Atlantic. The placing shares have been priced at 220p, which represents a 0.6 per cent discount on Tuesday's closing price. The online estate agent, which [...]
UK growth revised upwards at end of year after manufacturing boost, but weaker first quarter drags on 2016 overall February 22, 2017 The UK economy grew faster than previously thought in the last three months of 2016, with the manufacturing sector delivering a late boost to growth after a weaker first quarter. Growth for the year was revised down to 1.8 per cent from two per cent after a slower performance in the first three months of [...]
Unilever share price drops after deal talks with Kraft Heinz fall apart February 20, 2017 Shares in Unilever finished more than seven per cent lower today after talks around a potential deal with Kraft Heinz were called off over the weekend. The proposed takeover was revealed on Friday, sending FTSE 100-listed Unilever's share price up 15 per cent, and Kraft's up by 4.3 per cent in pre-market trading in New York. [...]
Will Marine Le Pen’s Front National provide Europe with its next big political shock? February 19, 2017 With Marine Le Pen’s hard-right Front National leading the polls just over two months away from France’s presidential election, some have already marked May in their calendars as the next political shock in Europe. Is the result a foregone conclusion and what does it all mean for the UK in any case? Polling Day France [...]