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African Battery Minerals settles material creditor balances
Metals exploration and development company African Battery Metals has settled all of its material creditor balances following a three-month suspension from trading.
Allergy Therapeutics profits rise as it spends less on R&D
Specialty pharmaceutical group Allergy Therapeutics announced its unaudited interim results for the six months ended 31 December on Wednesday, reporting a 10. 6% improvement in revenue on both a reported and constant currency basis, to £46. 7m.
Vivo Energy earnings rise as full-year volumes increase
Africa-focussed Shell and Engen fuel retailer Vivo Energy announced a 4% improvement in volumes in its full-year results on Wednesday, to 9. 35 billion litres, as its total gross cash unit margin slipped to $73 per thousand litres, from $74 year-on-year.
Hill & Smith profits fall as board talks up resilience
Infrastructure products and galvanizing services provider Hill & Smith Holdings reported a 9% improvement in revenue in its final results on Wednesday, to £637. 9m, or a 10% rise at constant currency.
Provident Financial says regulatory issues resolved, reiterates NSF rejection
FTSE 250 doorstep lender Provident Financial said on Wednesday that it has "substantially resolved" its regulatory issues with the Financial Conduct Authority as it outlined its growth plans after rejecting a £1. 3bn takeover offer from smaller rival Non-Standard Finance.
DS Smith to sell plastics division, says trading remains 'strong'
DS Smith said on Wednesday that trading since 1 November has continued to be strong and in line with its expectations, as it announced the sale of its plastics division to Olympus Partners for an enterprise value of $585m (around £450m).
PageGroup profit rises as international strength offsets UK weakness
Recruiter PageGroup reported a jump in full-year profit on Wednesday as strength in the international business offset a weaker performance in the UK.
SysGroup inks £1m deal with unnamed financial institution
IT services and cloud hosting provider SysGroup has scored a £1m contract with an unnamed financial institution via its recently acquired Certus IT division.
Cake Box acquires warehouses in Bradford and Coventry
Egg-free cakes retailer Cake Box has acquired the freeholds of two warehouse and distribution centres in Bradford and Coventry for £1. 4m.
London open: FTSE edges higher as tobacco stocks rally
London equity markets edged up in early trade on Wednesday, led higher by tobacco stocks, but gains were limited as concerns about Brexit and Sino-US trade relations played on investors’ minds.
Ultra Electronics profit drops but revenue beats expectations
Ultra Electronics posted a drop in full-year profit on Wednesday but revenue beat expectations and the FTSE 250 defence company lifted its dividend.
Tritax Big Box confident in portfolio ahead of Brexit
Tritax Big Box reported an 8% uplift in its adjusted earnings per share to 6. 88p in its full-year results on Wednesday, as its EPRA net asset value per share increased by 7. 4% year-on-year to 152. 83p as at 31 December.
London pre-open: Stocks to edge lower amid caution over Sino-US trade relations
London stocks were set to edge down at the open on Wednesday following an uninspiring close on Wall Street, as investors eye news on Sino-US trade relations.
DS Smith to offload plastics division, Melrose selling assets acquired in GKN deal
London open The FTSE 100 is expected to open 12 points lower on Wednesday, having closed up 0. 69% at 7,183. 43 on Tuesday.
Wednesday newspaper round-up: Cashless society, ultra rich, carmakers, Goldman, Bentley
More than 8 million UK adults would struggle to cope in a cashless society, according to a major report which claims that the country’s “cash infrastructure” is in danger of collapsing. With Britons increasingly turning to digital payments, and bank branches and ATMs closing, the Access to Cash Review said companies and organisations providing “essential” services should be required to ensure that consumers can continue to pay by cash. – Guardian.
US close: Markets end red after China cuts growth forecasts
US stocks finished in the red on Tuesday, as investors continued to monitor developments in Sino-US trade relations and after China downgraded its economic growth targets for this year.