News And Announcements
UK govt cuts FOBT maximum stake to £2
The UK government on Thursday cut the maximum stake on fixed-odds betting terminals (FOBTs) from £100 to £2 in a move that delighted anti-gambling campaigners and brought a mixed reaction from the industry.
Gresham House acquisition of FIM Services gets FCA green light
Specialist alternative asset manager Gresham House has received formal approval from the Financial Conduct Authority for the proposed acquisition of FIM Services by its wholly-owned subsidiary Gresham House Holdings, it announced on Thursday.
Repeat business and new lines a winner for Churchill China
Hospitality ceramics manufacturer Churchill China has made “good progress” against its objectives in the year-to-date, its shareholders heard on Thursday.
Ceramics and home fragrances drive growth at Portmeirion
Portmeirion Group reported a 15% rise in total group sales for the first four months of 2018 on Thursday, as its shareholders mustered for the company’s annual general meeting.
Staffline trading in line despite tight labour market
Recruitment company Staffline traded in line with board and market expectations in the first four months of 2018, it said on Thursday, as investors gathered for its annual general meeting.
Elecosoft starts 2018 strongly as revenue and profits rise
Elecosoft updated the market on its trading on Thursday, saying 2018 started “well” with revenue for the four months ended 30 April, based on unaudited management accounts, increasing by 7% year-on-year at both actual and constant rates of exchange.
Mothercare swings to loss, confirms store closures and announces refinancing
Beleaguered mother and child retailer Mothercare has confirmed the closure of 50 stores, announced a refinancing package and said it was re-hiring chief executive Mark Newton-Jones, who stepped down last month, as it swung to a full-year pre-tax loss.
UK govt launches fracking fund and planning service to help councils, developers
To speed planning permission for fracking projects in England, ministers have launched a fund to help local authorities deal with shale applications and a new 'planning brokerage service' to help both developers and local authorities with the application process.
Jefferies downgrades Softcat after share price strength
Softcat was under the cosh on Thursday as Jefferies cut the stock to 'hold' from 'buy' following recent share price strength.
Euromoney posts solid first half filled with M&A activity
Euromoney Institutional Investor reported a “good” first-half performance in its interim results on Thursday, with total revenues up 3% to £209. 6m, and underlying revenues up 4%.
Fevertree trading in line as UK remains strong, US going to plan
AIM-listed posh mixers maker Fevertree Drinks said on Thursday that the first four months of this year have seen further progress after 2017 proved to be another year of strong growth, with "impressive" rates of sale growth and market share gains.
William Hill says FOBT cut will hit profits by up to £70m
William Hill said the government's cut in fixed odds betting terminal (FOBT) stakes to £2 would hit operating profits by up to £100m and reduce gaming revenue by 35-45%.
Paddy Power Betfair says FOBT stake cut will hit gaming revenues by £35m-£46m
Paddy Power Betfair said the plan to cut the maximum stake on fixed odds betting terminals to £2 would hit gaming revenues by £35m-£46m, although it welcomed the change.
GVC sees £160m hit from UK govt betting stake changes
Ladbrokes Coral owner GVC said the planned new £2 maximum stake on gaming machines would cost it £160m, but said it would challenge the government's decision in court.
Tritax Big Box confirms Q1 dividend
Tritax Big Box REIT declared a first-quarter interim dividend of 1. 675p per share, to be paid on 11 June.
NHS outsourcing deal with Capita 'put patients at risk'
Outsourcing NHS services to private company Capita is resulting in “widespread failures”, the UK’s spending watchdog has said.
Foxtons warns of 'very challenging' London market as revenue drops
Estate agency Foxtons, famous for its aggressive sales practices, reported a drop in first-quarter revenue on Thursday as it cautioned that the London property market remains "very challenging".
Statutory profit down on constant currency basis at Investec
Investec saw a marginal improvement in its statutory operating profit before goodwill, acquired intangibles, non-operating items and taxation and after other non-controlling interests in its final results on Thursday, with the figure rising 1. 4% to £607. 5m.
Grainger sees solid rental income growth as it continues to invest
Grainger reported a 9% increase in its net rental income to £21. 8m in its half-year results on Thursday, along with a £756m secured private rented sector investment pipeline, up from £439m year-on-year.
Strong pound, weak UK hit Hill & Smith revenue, profit
A stronger pound and weak UK trading hit revenue and operating profits at engineering firm Hill & Smith in the first four months of 2018, the company said on Thursday.