Company News
Abrdn FY losses narrow; transformation programme underway
Fund manager Abrdn said on Tuesday that it has started work on its plans to cut around 500 jobs as part of a cost-reduction programme that is running ahead of targets, as it posted a narrowing of its full-year losses but warned of a hit to margins as clients shift to passive investing.
Victorian Plumbing confident despite fall in average order value
Bathroom retailer Victorian Plumbing said in a trading update on Tuesday that it had seen a 3% reduction in average order value in the first 21 weeks of the financial year.
Smith & Nephew revenue growth tops full-year forecasts
Medical device giant Smith & Nephew reported fourth-quarter revenue of $1. 46bn on Tuesday, marking a 6. 4% increase on an underlying basis compared to the prior year.
Ocean Harvest granted patent covering OceanFeed benefits
Ocean Harvest Technology announced the granting of a second patent on Tuesday, covering various claims related to the benefits of its ‘OceanFeed’ product.
On the Beach, Ryanair sign long-term distribution agreement
On the Beach said on Tuesday that it has signed a long-term distribution agreement with Ryanair, despite the latter having recently branded the online travel agent a "pirate" and accused it of marking up prices.
Endeavour expects first gold from Sabodala-Massawa in May
Mining group Endeavour has announced that wet commissioning activities are now underway at the Sabodala-Massawa Expansion project in Senegal, with first gold expected in early May.
Croda warns on margins as profits slump on weak demand
British speciality chemicals maker Croda International on Tuesday warned of lower operating margins this year after posting a slump in 2023 profits due to customers destocking and a weak macroeconomic environment.
Unite Group lifts rental guidance after solid 2023
Student accommodation provider Unite Group has delivered a confident outlook and upgraded guidance after seeing record adjusted earnings for 2023, though reported profits dropped by more than two thirds as a result of big losses related to changes in property valuations.