Company News
Friday preview: US inflation data, UK consumer confidence in focus
The financial market spotlight at the end of the week will be on the latest personal income and spending report for December due out in the States.
Boeing shares tank as FAA halts MAX production expansion
Shares in Boeing dropped on Thursday after the Federal Aviation Administration ordered the aerospace manufacturer to stop a production expansion of its 737 MAX model on the same day US airlines expressed anger at the company's recent quality failings.
Microsoft to lay off 1,900 from its gaming division
Microsoft is set to reduce its workforce in the gaming division by approximately 1,900 employees, it emerged on Thursday, according to an internal company memo reported by CNBC.
Lloyds Banking Group to cut 1,600 jobs across branch network
Lloyds Banking Group said on Thursday that it will cut around 1,600 jobs across branches as it continues to shift its focus to online banking.
CVS Group revenue jumps 11pc in first-half
Veterinary service provider CVS Group reported a positive first half in a trading update on Thursday, with total group revenue jumping 11. 4% year-on-year to £329. 9m as like-for-like sales increased 6%.
SigmaRoc set to top full-year expectations for 2023
Lime and limestone specialist SigmaRoc said in an update on Thursday that it was set to surpass consensus expectations for 2023, with full-year revenues reaching around £580m - an 8% increase year-on-year, despite a 4% reduction in volumes.
Strix describes challenging year, appoints new finance chief
Kettle safety and water technology company Strix Group said in a full-year trading update on Thursday that, despite facing persistent challenges stemming from the global economic and geopolitical landscape, it recorded adjusted profit after tax of £20. 6m on a constant currency basis, and £20. 1m on a reported basis for the full year.
Keywords Studios confident after year of revenue growth
Video games creative agency Keywords Studios reported full-year revenue of €780m in a trading update on Thursday, reflecting 13% growth year-on-year and a 17% increase on a constant currency basis.
Mortgage Advise Bureau ends year slightly ahead of forecasts
Mortgage Advice Bureau said in an update on Thursday that, despite its caution over activity levels and its annual outlook expressed in September, actual trading in the fourth quarter surpassed expectations, leading it to anticipate reporting an adjusted profit before tax slightly ahead of current market consensus.
Revenue declines as expected at Treatt
Food and beverage ingredients specialist Treatt said in an update on Thursday that during the first quarter, it experienced a year-on-year decline in revenue, in line with expectations.
NCC Group meets half-year expectations
Cybersecurity and software company NCC Group said in an update on Thursday that it achieved its half-year revenue, gross margin and profitability targets, with an adjusted operating profit of £4. 8m.
Liontrust Asset Management seeking new chairman - report
Liontrust Asset Management has reportedly embarked on a search for a new chairman months after it was forced to end its pursuit of rival GAM amid disquiet among shareholders.
Nokia posts slump in Q4 profit, announces €600m buyback
Nokia shares surged on Thursday as it posted a slump in fourth-quarter sales and profit but said there were signs of stabilisation in the market and announced plans for a €600m share buyback programme.
Conduit Re upbeat on January renewals performance
Bermuda-based reinsurer Conduit Re reported 38% growth in estimated ultimate premiums written in an update on Thursday, which now stood at $582. 4m, compared to $421. 2m during the January 2023 renewals season.
Fevertree revenue grows despite UK, Australia difficulties
Fevertree Drinks reported a 6% improvement in total revenue for 2023 on Thursday, reaching £364. 4m.
Elementis surges as PE firm KPS said to have explored takeover offer
Elementis surged on Thursday following a report that KPS Capital Partners recently explored a bid for the specialty chemicals firm.
Britvic hails 'strong' Christmas trading, Q1 revenues jump
Drinks company Britvic hailed a positive start to the year on Thursday as it posted a jump in first-quarter revenues.
Dr Martens shares up as guidance held despite Q3 sales slump
Shares in Dr Martens surged on Thursday as investors breathed a sigh of relief that the UK bootmaker held full year guidance after third-quarter revenues slumped by a fifth, driven by a poor performance in the US and from its wholesale channel.
Intermediate Capital hits fundraising target early as AUM grows in Q3
The share price of Intermediate Capital Group jumped on Thursday after the private equity investment firm reported a solid increase in fee-earnings assets under management (AUM) in its third quarter and reported that it had surpassed its medium-term fundraising targets early.
Mitie backs FY profit expectations after record Q3 revenues
Mitie backed its full-year profit expectations on Thursday as it reported a jump in third-quarter revenues.