CMO hails early signs of recovery as consumer confidence softens sales fall August 9, 2024 Listed online-only building materials firm CMO said improved consumer confidence in the past few months has helped to soften the impact of declining sales. The firm, which is headquartered in Plymouth, said sales started to tick up in the three months ending July 31, 2024, after wet weather dampened demand in its first quarter. As a result, [...]
It’s over: FTSE 100 giant Hargreaves Lansdown receives £5.4bn private equity bid August 9, 2024 Hargreaves Lansdown has finally received an official bid from potential private equity buyers that management is prepared to recommend to shareholders. The £11.10 share bid, along with a dividend of 30 pence for the end of the financial year, came after months of negotiations between the DIY platform business and the consortium of private equity [...]
Derwent London upgrades rental guidance thanks to ‘world class’ London August 8, 2024 An acceleration in rental growth and a more stable investment environment has helped office giant Derwent London upgrade its rental guidance off the back of “really active demand”, its boss said. In its half-year results this morning, the FTSE 250 office specialist said its income grew but valuations continued their decline. Derwent, which owns flagship [...]
Helios Towers shares drop: Debt rises, revenue and profit lifts as guidance ‘tightened’ August 8, 2024 Shares in telecommunications tower company Helios Towers plunged more than 12 per cent in early trading on Friday after it said it has racked up a larger debt pile in its interim results. The London-listed company said net debt edged up three per cent to $1.76bn (£1.39bn) in the six months to 30 June. Results [...]
Savills hails ‘signs of market recovery’ as half-year sales and profit rise August 8, 2024 Sales and profit increased at estate agent Savills in the first half of 2024 as both commercial and residential markets begin to show signs of recovery. The FTSE 250-listed firm has reported a five per cent rise in its revenue, from £1.011bn to £1.063bn, in the six months ended June 30. Its underlying pre-tax profit [...]
Shawbrook: Underlying profit dips as challenger bank’s margins narrow August 8, 2024 Challenger bank Shawbrook has reported a dip in underlying profit for the first half of 2024 as looming interest rate cuts from the Bank of England narrowed its lending margins.
Property law transactions at historic lows but firms ‘must prepare’ for growth August 8, 2024 Transactions at property law firms have sharply slid back to pandemic-era lows this year, but firms expect Labour’s housing reforms, as well as falling interest rates, to create an onslaught of cases in the coming years. New research by legal data supplier Search Acumen, shared exclusively with City A.M., has found that total transactions across [...]
Slack continues to build in jobs market but employers look to ‘green shoots’ August 8, 2024 The survey pointed to a subdued demand for staff as a key reason for the decline in permanent placements, which extended the downturn to nearly two years.
Flight to quality gets underway as half of London offices set to be ‘unlettable’ by 2027 August 7, 2024 Changes to energy efficiency requirements mean that a majority of office spaces in the capital won’t meet the minimum standard for leasing within the next four years, making it a race to re-fit before 2027. Minimum energy efficiency standards (MEES) currently require that rented commercial properties in England and Wales have a minimum EPC rating [...]
Volvo: Record-breaking year for car maker as UK sales near £2bn August 7, 2024 Volvo's UK sales jumped closer to the £2bn mark after another record-breaking year, it has been revealed in newly filed accounts.