Shein parks tanks on Boohoo’s lawn as UK sales pass £1.5bn ahead of IPO October 8, 2024 UK sales at Shein, the Chinese-founded online retailer on track for a bumper IPO on the London Stock Exchange, passed £1.5bn last year, the company has revealed. The division generated a revenue of £1.55bn for 2023, up from the £1.12bn it achieved in 2022. Shein also posted an annual profit of £18.7m, a significant rise [...]
Leeds landmark sold for almost £80m in city’s biggest deal for over five years October 8, 2024 A landmark building in the heart of Leeds’ financial district has been sold for almost £80m in the city’s largest office deal for more than five years. Ashtrom Properties UK has acquired Central Square, which is home to the likes of M&S, PwC an Sky, for £78m. Central Square comprises 217,249 sq ft of office [...]
Meal deal maker Greencore hikes profit outlook October 8, 2024 Food manufacturer Greencore—which produces sandwiches for supermarket meal deals—has said it anticipates full year profit to be “ahead of current market expectations.” In a trading update issued today, the convenience food firm, which supplies all the UK’s major supermarkets with salads, sushi, sandwiches, snacks, ready meals, and soups, said like for like revenue growth for [...]
Selfridges: Saudi Arabia’s PIF invests in department store group October 8, 2024 Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
Why Georgia’s capital Tbilisi is the most fascinating city in Europe October 7, 2024 Towering over the Georgian capital of Tbilisi is Mtatsminda Park, a Soviet-era fairground and gardens set atop a craggy hill. Accessed by a funicular railway, you will find a host of terrifying, creaky old amusement rides, including the 65-metre-high Giant Wheel, which seems to bow outwards over the edge of a sheer cliff. Dotted around [...]
Applied Nutrition confirms plans to list this month October 7, 2024 It will be targeted at institutional investors in the UK as well as retail investors through the Retail Book platform. Following its IPO, the firm is targeting a free float of at least 25 per cent
Is Rachel Reeves about to force pension funds to back Britain? October 7, 2024 The prospect of Rachel Reeves forcing pension funds to back British stocks is being discussed as a more serious possibility, writes Charlie Conchie As the City grandees Nicholas Lyons and Peter Harrison gathered a room of executives for a workshop at the London Stock Exchange last month, a familiar gripe was on the agenda. The [...]
Build more data centres or lose AI race, London warned October 6, 2024 Britain can cement itself as a leader in generative AI, but it needs to scale up its digital infrastructure, according to the UK and Ireland managing director of data centre REIT giant Digital Realty. Speaking to City AM, Séamus Dunne said building more data centres in the capital is crucial to support the next phase [...]
Seedlip revolutionised alcohol free drinking. Now its founder has a new product: We tried it first October 6, 2024 Ben Branson birthed the alcohol free spirits scene when he launched Seedlip nearly ten years ago. Five years after selling his majority share, he’s ready to change the face of drinking. Again. He talks to Adam Bloodworth Through the launch of Seedlip, Ben Branson established a reputation as the founding father of the alcohol free [...]
Online retailer Shein to hold roadshows soon ahead of London IPO October 4, 2024 Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering (IPO), three sources with knowledge of the matter told Reuters, pushing ahead with preparations as it awaits UK regulatory approval. The China-founded online retailer plans to hold informal roadshows mainly across Europe, one of the sources [...]