Company News
Victoria offloads Turkish subsidiary Graniser in £31m deal
Flooring specialist Victoria announced the sale of its Turkish ceramic tile subsidiary Graniser on Tuesday, for total consideration of €36. 8m (£30. 9m).
Genuit YTD revenues down amid 'subdued' conditions
Plastic piping manufacturer Genuit said on Tuesday that it has delivered a "resilient performance" year-to-date, despite operating in "subdued market conditions".
Nestle takes wraps off CHF 2.5bn cost-cutting plan
Nestlé unveiled an ambitious cost-cutting initiative and reduced its profit outlook on Tuesday, as new chief executive Laurent Freixe charted a turnaround strategy for the world’s largest food company.
GSK's linerixibat meets primary endpoint
Drugmaker GSK said on Tuesday that its linerixibat candidate had shown "positive" Phase III results in cholestatic pruritus in primary biliary cholangitis.
Big Yellow forecasts return to EPS growth in second half
Self-storage warehouse operator Big Yellow Group has predicted a return to earnings per share growth in the second half after a slight reduction in the first six months of its financial year as higher operating costs weighed on the bottom line.
Diploma revenue, profits rise amid 'tougher environment'
Controls, seals, and life sciences distributor Diploma reported a 14% rise in revenue in its preliminary results on Tuesday, to £1. 36bn, as adjusted operating profit increased 20% to £285m.
Petershill Partners reports solid third-quarter performance
Petershill Partners, a global investor in alternative asset managers, reported a solid third-quarter performance in an update on Tuesday, supported by strong partner fee-related earnings (FRE) and significant capital returns.
Thyssenkrupp writes down EUR 1bn from steel business
Thyssenkrupp announced a €1bn writedown on its steel division on Tuesday, as the company navigated a costly transition to low-carbon production.
Tullow Oil reaches deal to extend $250m credit facility
Tullow Oil has reached agreement with its lenders to extend the maturity of its revolving credit facility (RCF) to June 30, 2025, the company said on Tuesday.
Vesuvius confident despite weaker market conditions
Molten metal flow engineering specialist Vesuvius said in a trading update on Tuesday that it anticipated trading profit for the 2024 financial year to be slightly below 2023 levels on a constant currency basis, maintaining a return on sales margin of around 10. 2%.
Marshalls targets 15% operating margin under new strategy
Landscaping and building supplier Marshalls on Tuesday unveiled a new strategy targeting an operating margin of 15% and outperformance the wider construction market by 2 – 4%.
Imperial Brands FY profits rise as new product revenues surge
Cigarette and maker Imperial Brands on Tuesday posted a 4. 5% rise in full-year adjusted operating profit as revenues from new products such as vapes and nicotine pouches surged by more than a quarter.
Bodycote sees FY operating profit in line despite 'challenging' end markets
Bodycote said on Tuesday that full-year operating profit was set to be in line with market expectations as it hailed a "resilient performance in challenging end markets".
Informa reaffirms annual guidance as revenue grows 10.7%
Events and digital services group Informa on Tuesday reaffirmed its recently upgraded full-year guidance as revenues in the first 10 months of the year grew 10. 7% and said strong forward booking were providing momentum into 2025.