News And Announcements
Franchise Brands shares drop on 2024 outlook, CFO exit
Shares in Franchise Brands dropped sharply on Thursday despite the B2B van-based services group meeting expectations with its full-year results, as the company gave a cautious outlook for 2024 and announced the departure of its chief financial officer.
Time Out to beat profit forecasts after strong Q4
Shares in Time Out Group gained on Thursday morning after the media and hospitality company said full-year profits are expected to beat forecasts on the back of a strong fourth quarter.
Sainsbury's sells core banking unit to NatWest
Sainsbury's has announced it is selling its core banking business, comprising £2. 5bn of outstanding credit card, unsecured personal loan and saving accounts, to NatWest and plans to return a tenth of that amount to shareholders.
Phoenix Group completes first phase of deleveraging programme
Phoenix Group announced on Thursday that it has successfully completed the initial phase of its deleveraging programme, including a significant debt redemption and refinancing exercise.
Tate & Lyle acquires specialty ingredients firm CP Kelco for $1.8bn
Food and beverage products group Tate & Lyle is to buy Atlanta-based pectin, gums and specialty ingredients firm CP Kelco from JM Huber Corporation for $1. 8bn, giving the latter a 16% stake in the business.
Alpha FMC to be taken over by Bridgepoint in £626m deal
Alpha Financial Markets Consultancy said on Thursday that it has agreed to be bought by private equity firm Bridgepoint for 505p per share in cash.
DS Smith profits fall on weak demand, inflation
Paper and packaging company DS Smith reported a fall in annual profits driven by weak volumes and high inflation, but said it expected higher prices and demand would boost a recovery in the second half of the current year and into 2026.