Company News
Diversified Energy tumbles as Snowcap says dividend cut looks imminent
Diversified Energy tumbled on Tuesday after Snowcap Research said the company may not have enough funds to cover the cost of plugging its inactive wells and that a dividend cut looks imminent.
Wednesday preview: Global PMIs, EasyJet in focus
The market spotlight on Wednesday was expected to be on preliminary results for a raft of closely-followed economic surveys on either side of the Atlantic.
Primark Christmas sales up 2.1% despite warmer weather
Sales at clothing retailer Primark grew 2. 1% on a like-for-like basis over the Christmas period despite warmer weather, parent company Associated British Foods said on Tuesday, adding that it did not expect supply disruptions from attacks on commercial shipping in the Red Sea.
Johnson & Johnson reports robust quarter, but full-year earnings slip
Johnson & Johnson reported robust growth in sales and earnings in its fourth quarter numbers on Tuesday, with sales rising 7. 3% year-on-year to $21. 4bn.
3M forecasts underwhelm, shares fall
Shares in 3M came under pressure on Tuesday, after the industrial conglomerate forecast full-year profits and sales below analyst expectations.
B&M chairman Peter Bamford to retire
B&M European Value Retail said on Tuesday that chairman Peter Bamford plans to retire this year.
GE Q4 beats estimates ahead of split, but outlook hits shares
General Electric topped fourth-quarter earnings estimates but downbeat guidance for the three months of the current year sent shares in the jet engine maker lower.
Abrdn planning to axe hundreds of jobs in cost-cutting drive - report
Fund manager Abrdn is reportedly preparing to axe hundreds of jobs in a cost-cutting drive aimed at boosting its flagging performance.
Sales and profits slide at Ericsson
Sweden’s Ericsson reported a slide in quarterly profits and sales on Tuesday, as wary customers cut back on spending.
Crest Nicholson FY profits slump amid tough market; CEO to retire
UK housebuilder Crest Nicholson posted a bigger-than-expected fall in annual profits but said it was encouraged by an increase in customer inquiries as borrowing costs fell, while chief executive Peter Truscott announced he was stepping down to be replaced by Persimmon chief commercial officer Martyn Clark.
Hipgnosis investment manager refuses to drop controversial call option
The investment advisor to Hipgnosis Songs Fund has refused to drop a controversial call option, the troubled music rights owner confirmed on Tuesday.
Sanofi to take on lead Inhibrx candidate in $2.2bn deal
Inhibrx announced an agreement with Sanofi on Tuesday, under which Sanofi subsidiary Aventis will acquire all assets and liabilities associated with INBRX-101, a recombinant alpha-1 antitrypsin (AAT) augmentation therapy currently being trialled for alpha-1 antitrypsin deficiency (AATD) treatment.
Chapel Down reports strong year for English sparkling wine
Winemaker Chapel Down saw a slowdown in revenue growth in the second half of 2023 but said that English sparkling wine outperformed the Champagne market over the year.
Quiz Christmas sales drop 11% as inflationary pressures dent demand
Fast-fashion retailer Quiz reported a drop in sales over the Christmas period on Tuesday as it said inflationary pressures were denting consumer demand.
Boohoo appoints Stephen Morana as CFO as McCabe steps down
Boohoo said on Tuesday that trading remains in line with market expectations as it announced the departure of chief financial officer Shaun McCabe "by mutual agreement" and with immediate effect.
Revenue rises but profit falls for Staffline
Recruitment and training company Staffline Group reported 2023 revenue of £938. 2m in an update on Tuesday, up 1. 1% year-on-year, with gross profit at £80. 8m, which was down 2. 1%.
Everyman delivers bullish 2024 outlook after strong FY growth
Shares in Everyman Media Group jumped on Tuesday after the upmarket cinema chain delivered double-digit growth in both revenues and profits last year and pointed to an "improving film slate" in 2024.
Watkin Jones swings to loss amid uncertain market
Residential developer Watkin Jones reported full-year revenue of £413. 2m on Tuesday, marking a 1. 5% increase year-on-year.
Henry Boot warns 2024 performance will miss current consensus
Land, property and construction company Henry Boot reported a mixed full-year performance in an update on Tuesday, with profit before tax for 2023 set to align with market consensus, although its outlook for 2024 was much less optimistic.
H&T reports robust fourth quarter, disappointing full year
Pawnbroker and jewellery retailer H&T Group reported a robust fourth-quarter performance in an update on Tuesday, projecting a record profit increase of 40% year-on-year.