News And Announcements
Poisoned chalice: Why the East Coast franchise keeps failing
Wednesday’s news that the East Coast rail franchise would once again fall into government hands marks the third time since privatisation that the high-speed route between London and Scotland has failed.
Malvern International to buy Communicate English School for £2.3m
Learning and skills development partner Malvern International has announced plans to buy Manchester-based Communicate English School for £2. 34m, in a deal that will broaden its UK footprint.
Smurfit slumps as International Paper says it won't make hostile bid
Shares in Smurfit Kappa slumped on Wednesday as US rival International Paper said it would not be making a hostile bid for the paper and packaging company.
Stagecoach-Virgin East Coast franchise to be renationalised
One of the two high-speed rail routes between London and Scotland will be renationalised for the second time in less than a decade, after franchise holder Virgin Trains East Coast said it could no longer make payments on its £3. 3bn contract with the government.
Burberry profits and cashflow outstrip forecasts
Burberry presented a smart first set of full year results under new chief executive Marco Gobbetti, pinning on a £150m buyback buttonhole as well as outstripping City forecasts despite a slight wrinkle in revenues.
Carillion directors, auditors lambasted in parliament report
Directors and auditors of failed UK government outsourcer Carillion were lambasted in a scathing parliamentary report on Wednesday with all sides accused of complicity in the company's demise last January.
Goldman Sachs and Citi downgrade Evraz
Following the recent strong share price performance from Evraz, analysts at Goldman Sachs and Citi both saw fit to downgrade their ratings for the Russian steelmaker on Wednesday.
Zoetis to buy veterinary diagnostics group Abaxis for $2bn
US animal health company Zoetis Inc has agreed to buy veterinary diagnostics group Abaxis for $83 per share in cash, or around $2bn.
Thalassa buys back another 40,000 shares
Thalassa announced on Wednesday that, on 15 May, it purchased 40,000 of its shares at a price of 84p per share.
FastForward authorised as a closed-ended investment scheme in Guernsey
FastForward Innovations has been authorised as a closed-ended investment scheme by the Guernsey Financial Services Commission, it announced on Wednesday.
Augean makes moves to shutter Colt division
Specialist waste management company Augean updated the marker on its ongoing programme to optimise business units and turn around those that were underperforming on Wednesday.
Best of the Best ends year in line as it expands luxury prize catalogue
Luxury prize competition organiser Best of the Best updated the market on its trading on Wednesday, saying the 12 months ended 30 April had been “encouraging”, with profit before tax “comfortably” in line with management's expectations.
Mortgage Advice Bureau adds advisers and grows business, investors told
Investors in Mortgage Advice Bureau were told how adviser numbers had continued to grow on Wednesday, increasing to 1,116 advisers as at 11 May, as they gathered for the company’s annual general meeting.
Volex to buy cable harness manufacturer Silotec in EUR 18m deal
Cable assemblies supplier Volex announced the proposed acquisition of the business and assets of Silcotec Europe, a manufacturer and seller of cable harnesses, for a total consideration of up to €18. 1m on Wednesday.
Idorsia begins MODIFY study in patients with Fabry disease
Idorsia announced on Wednesday that the first patient has been enrolled in a registration study to investigate the effect of lucerastat as an oral monotherapy for the treatment of adult patients with genetically confirmed Fabry disease, irrespective of their genetic mutation type.
LoopUp to buy MeetingZone for £61.4m in cash
AIM-listed remote meetings company LoopUp Group has agreed to buy Warwick Holdco, the holding company for conferencing services provider MeetingZone, for £61. 4m in cash.
Marston's underlying profits bubble up, but writedowns hit bottom line
Marston's reported strong revenues throughout the first six months of the trading year, however, the pubs group swung to a statutory loss as a result of write-downs on its income statement.
National Express Q1 boosted by solid US performance
Transport operator National Express reported 6. 2% growth in first-quarter revenue on Wednesday, with its North American business the standout performer.
Moss Bros trading improves, chairman to retire next year
Menswear specialist Moss Bros announced the retirement of its chairman on Wednesday as it reported an improvement in trading.
TI Fluid Systems Q1 revenues hit by currency headwinds
TI Fluid Systems said first quarter revenues fell 3. 8% to €869m due to currency headwinds.