News And Announcements
House of Fraser risks collapse as rescue falls through
House of Fraser faces an uncertain future with a high risk of collapse after its potential new Chinese owner C. banner pulled out of the rescue.
Produce startup Oddbox to expand after £0.52m crowdfunding success
London based ‘wonky’ fruit and veg box firm Oddbox on Wednesday smashed its crowdfunding targets, raising £0. 52m to expand its services.
BAE Systems orders slip as some divisions disappoint
BAE Systems reported an order backlog of £39. 7bn at the end of its first half, with £9. 7bn of orders in the first half - down from £10. 65bn year-on-year.
Man Group AUM up as strong dollar, trade tensions make for tough H1
Hedge fund Man Group on Wednesday reported a 4. 2% jump in first half assets under management to $113. 7bn (£86. 68bn) despite a strong dollar and lower performance fee income.
Immotion opens latest virtual reality attraction in Yorkshire
Immersive virtual reality entertainment business Immotion Group has opened a new ‘ImmotionVR’ location at Xscape Yorkshire in Castleford, it announced on Wednesday.
Property Franchise Group confident in meeting market expectations
The Property Franchise Group updated the market on its trading on Wednesday, reporting “solid growth” during the six-month period ended 30 June, with revenues increasing by 11% to £5. 3m.
Mortice expects results to be broadly in line with prior year
Security and facilities management company Mortice updated the market on its trading for the 12 months ended 31 March on Wednesday, reporting a 21% improvement in revenue to $219m.
GetBusy loss widens despite improved revenue performance
Document management software business GetBusy announced its unaudited results for the six months ended 30 June on Wednesday, reporting a 14% improvement in total revenue in reported currency, and an 18% rise at constant currency, to £5. 16m.
Coral Products ends year in line, orders plastic recycling unit
Plastic products designer, manufacturer and supplier Coral Products updated the market on its trading on Wednesday, reporting that it made an operating profit in each of the four months to 30 April.
Next growth slows despite weather boost
Trading at Next slowed more than expected in the second quarter as the high street clothing group's online and overseas sales offset a persistent decline from its stores.
Caspian Sunrise makes progress at its deep wells
Caspian Sunrise updated the market on operations at its BNG Deep Wells on Wednesday, confirming that 75 metres of the identified intervals at deep well 801 had been perforated.
Arc Minerals identifies visible mineralisation at Kalaba
Arc Minerals updated the market on Wednesday, on the 11,000-metre drilling programme currently underway at the Kalaba prospect, part of its Zamsort Copper-Cobalt Project, reporting that visible copper and cobalt mineralisation had been identified.
Aggreko confident of hitting FY guidance after solid underlying first half
Temporary power supplier Aggreko said first half pre-tax profits fell 7% to £59m, with revenues up 10% to £857m.
Hammond wants more public sector spending cuts
The chancellor has told government departments to prepare for further spending cuts before next year’s spending review, putting him at odds with cabinet members who want to ease austerity.
Surge in deaths boosts Dignity in the first half
Dignity arranged 3,000 more funerals in the first half of its financial year as the company benefited from a surge in deaths caused by extreme winter weather.
Bank of Georgia signs loan agreement with Dutch bank FMO
Bank of Georgia Group announced on Wednesday that its bank subsidiary, JSC Bank of Georgia, had attracted more GEL-denominated funding as it signed a GEL 160m loan agreement with Dutch development bank, Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden (FMO), with a tenor of five years.
RHI Magnesita to merge its three Indian subsidiaries
Refractory products, systems and services supplier RHI Magnesita announced the proposed merger of its three Indian subsidiaries on Wednesday.
International PPL pouring £8.5m more into fibre-based network assets
Listed infrastructure investment company International Public Partnerships will make a further investment of up to £8. 5m into digital fibre-based network assets, it announced on Wednesday.
Kier Group promotes Claudio Veritiero to new COO position
Kier Group updated the market on its efficiency and streamlining programme on Wednesday, reporting that “good progress” had been made so far in identifying potential cost savings.
HICL says trading in line; progress on Carillion fallout
HICL Infrastructure Company on Wednesday said the portfolio has performed in line with expectations in the period since 1 April 2018.