Company News
DS Smith trading in line, margins set to expand in H2
Packaging business DS Smith said on Tuesday that trading in the year to 30 April 2019 has been in line with its expectations, with ongoing growth in corrugated box volumes and market share gains.
LMS Capital portfolio gains offset by currency headwinds
Equity investment firm LMS Capital reported a broadly flat net asset value at the end of its first trading quarter.
Oilex preps for drilling at Cambay following turbulent quarter
Exploration and production outfit Oilex told investors on Tuesday that the 2019-20 work programme and budget for its Cambay asset were "well advanced" and now included the drilling of two vertical wells.
Lufthansa swings to a loss on fuel costs and lower fares
Deutsche Lufthansa blamed high fuel costs and pressure on fares as the German airline group swung to a first-quarter loss of more than €300m (£259m).
Animalcare swings to loss as costs outweigh revenue jump
Animalcare Group on Tuesday swung to an annual loss after delayed product launches and cost increases offset the impact of double-digit revenue growth.
Sirius Minerals shares crash after announcing heavily-discounted $3.8bn cash call
Sirius Minerals narrowed total losses in its last trading year as a result of a fair value re-measurement of derivatives associated with its convertible loans.
Countrywide's H1 earnings to take £5m hit from Brexit uncertainty
Integrated property services group Countrywide warned on Tuesday that first-half adjusted earnings will be down around £5m on the year as markets take a hit from Brexit uncertainty, but adjusted earnings for the year should be in line with the board's expectations.
Derwent London secures £9.7m pre-let deal for Soho development
Derwent London on Tuesday pre-let the top six floors of 1 Soho Place W1 to G-Research, with the research and software development company committing to a 15-year lease at a rent of £9. 7m per annum, with five-year rent reviews.
Just Group CEO Rodney Cook steps down after nine years
Just Group said on Tuesday that Rodney Cook has decided to step down as group chief executive officer with immediate effect in order to plan his retirement, after nine years at the retirement specialist.
StanChart posts better-than-expected Q1 profit, unveils share buyback
Asia-focused lender StanChart posted a 10% jump in adjusted pre-tax profits to reach $1. 38bn, beating the $1. 1bn anticipated by analysts at UBS and unveiled a $1. 0bn share repurchase programme.
Mirriad Advertising elevates John Pearson to chairman
AI platform designer Mirriad Advertising revealed on Tuesday that non-executive director John Pearson will succeed Roger Faxon in the post of chairman as the group's strategic refocus started to gather pace.
Wilmcote Holdings appoints Kevin Dangerfield as CFO
Chemicals sector investor Wilmcote Holdings appointed Kevin Dangerfield to the role of chief financial officer on Tuesday, effective 1 July.
Hochschild reiterates FY guidance after strong Q1
Strong contributions from Hochschild Mining's Inmaculada and Pallancata mines boosted first quarter output and left the company on track to meet full-year targets, it said on Tuesday.
Jupiter Fund Management AuM rise in Q1, outflows slow
Jupiter Fund Management reported a rise in first-quarter assets under management on Tuesday, as outflows slowed.
Weir reiterates FY revenue, profit guidance as Q1 orders rise 18%
Engineer Weir Group reiterated full year revenue and profit guidance as first quarter orders rose on the back of its Esco acquisition which offset a weaker performance in oil and gas operations.
Elementis says markets remain 'challenging', Coatings in particular
Specialty chemicals company Elementis said on Tuesday that it expects further progress this year, albeit slightly below expectations, as global market conditions remain "challenging", particularly in the coatings business.
Glencore cuts FY copper production guidance
Mining conglomerate Glencore cut its full year copper production guidance as first quarter output fell 7% due to several factors, including flooding in Australia and safety-related stoppages and smelter outages in Zambia.
Inflows help push St James's Place funds to record £103.5bn
St James's Place's funds under management reached a record £103. 5bn in the first quarter as the wealth management company attracted more investments.