Ifa News Round-Up
Rotork profits rise on higher prices, volumes
Industrial flow control maker Rotork on Tuesday reported a rise in full-year earnings as higher prices and volumes offset cost inflation.
Travis Perkins profits fall 16% as housing market slows down
UK builders merchant Travis Perkins on Tuesday reported a fall in annual profit due to a tougher housing market and restructuring costs, which offset a rise in sales.
Ocado losses widen to £500m as retail operations hammered
UK online grocer and technology company Ocado Group posted wider losses as the cost of living crisis and return to normal shopping habits after the Covid pandemic hammered its joint venture with Marks & Spencer .
Abrdn swings to annual loss as inflation bites
UK asset manager abrdn swung to a full-year loss citing volatile markets and surging investments in what the company called “one of the hardest investing years in living memory”.
Primark owner ABF lifts guidance as consumer spending holds up
Primark owner Associated British Foods lifted full-year guidance consumer spending proved to be more resilient in the first half, with Britons buying early for the summer.
Bunzl profits, dividend rise on price, volumes
International distribution group Bunzl reported a rise in annual earnings, driven by product cost inflation, volume recovery in the first half and growth from acquisitions.
Ericsson to slash 8,500 jobs - report
Telecoms giant Ericsson is to lay off 8,500 staff in a bid to slash costs, according to media reports on Friday.
IAG swings to FY profit, to buy out rest of Air Europa for €400m
British Airways owner IAG swung to a full year profit as international travel recovered from the Covid pandemic and said it had agreed to buy out the 80% of Air Europa it does not own for €400m in a move to turn Madrid into a major airport hub.
Rolls-Royce shares surge as travel rebound boosts annual profits
Aerospace and defence company Rolls-Royce posted a better than expected rise rise in operating profit as the post-pandemic recovery in international travel continued, sending shares in the company up 19%.
Mondi shares slump on demand, prices warning
Paper and packaging group Mondi more than doubled full-year profits on higher prices but warned that it continued to see softer demand and pricing, despite input costs declining, sending the shares lower on Thursday.
Serco wins $690m US govt health contract
Government outsourcer Serco has won a $690m contract by the US Department of Health to continue working on whether people are eligible for federal health insurance.
AstraZeneca, KYM sign licensing deal on gastric cancer treatment
AstraZeneca and KYM Biosciences have agreed a global exclusive licence agreement for a potential gastric cancer treatment known as CMG901.
Hays CEO Cox to step down
Recruitment company Hays said chief executive Alistair Cox was stepping down after discussions with the board.
Lloyds Bank posts flat profit on higher impairment charge
Lloyds Bank reported flat annual profits with higher net income and lower costs were offset by impairment charges due to the worsening economic outlook.
Stellantis shares gain on record FY profits, €1.5bn buyback
Shares in carmaker Stellantis on Wednesday reported record full-year profits along with a large jump in global battery and electric vehicle sales.
IHG in $750m share buyback as FY profits rebound from Covid
Global hotel chain operator IHG on Tuesday posted a rise in annual profits aided by higher room prices and announced a $750m share buyback as travel continued to rebound from the Covid pandemic.
HSBC Q4 profits surge on global interest rate hikes
HSBC said quarterly profits almost doubled, driven by the rise in global interest rates, and unveiled a special dividend.
NatWest shares slump despite profit surge, £800m buyback
Shares in Britain’s NatWest slumped on Friday despite the bank reporting annual profits up by more than a third and unveiling an £800m share buyback as it cashed in on surging interest rates.
British Gas owner Centrica posts record profit as energy bills soar
British Gas owner Centrica on Thursday reported record profits of £3. 3bn, driven by soaring wholesale gas prices in the wake of Russia’s invasion of Ukraine as Britons struggle with household energy bills.
Atos shares surge as Airbus offers to buy stake in cyber business
Shares in French Atos surged on Thursday after aircraft maker Airbus offered to become a major investor in the IT firm’s soon-to-be spun-off division Evidian.