News And Announcements
Primark sees lower sales in H2 as wet UK summer hits footfall
Like‐for‐like sales at Primark were expected to fall by around 0. 5% in the second half of the financial year due to wet weather in the UK and Ireland which hit womenswear and footwear, said parent company Associated British Foods.
Court orders former Wirecard executives to pay €140m
Three former executives of Wirecard, including chief executive Markus Braun, have been ordered to pay €140m in damages by a Munich court.
Revenue falls but profits stable at Churchill China
Hospitality ceramics manufacturer Churchill China reported a 7. 8% decrease in revenue in its interim results on Thursday, totaling £40. 6m, compared to £44m in the same period last year.
Xeros shares tumble as it slashes revenue, earnings expectations
Textile industry environmental innovator Xeros Technology announced a delay in the mass market launch of a new nine-kilogram washing machine by its Indian licensee IFB Industries on Thursday.
Asos shares surge on outlook, Topshop stake sale to Heartland
Shares in Asos surged by a fifth on Thursday as the troubled online fashion retailer said it was offloading 75% of the Topshop group as part of a joint venture deal with major shareholder, the Danish fashion billionaire Anders Holch Povlsen.
EnQuest slams windfall tax as revenues slide
UK oil firm EnQuest hit out at the energy profits levy on Thursday, arguing that current conditions meant the windfall tax was no longer merited.
Verizon to buy Frontier Communications in $20bn cash deal
Verizon Communications said on Thursday that it has agreed to buy Frontier Communications, the largest pure-play fibre internet provider in the US, for $20bn in cash.
Fusion Antibodies strengthens financial position despite revenue decline
Preclinical antibody discovery and engineering specialist Fusion Antibodies said in its final results on Thursday that despite a challenging year with a decline in revenue, it had strengthened its financial position and expanded its pipeline of opportunities.
Safestay reports 23pc rise in first-half earnings
Hostel operator Safestay reported a 23% increase in first-half EBITDA on Thursday, reflecting significant operational progress and portfolio expansion.
Oriole Resources swings to first-half profit
West and Central Africa-focussed exploration company Oriole Resources reported a first-half pre-tax profit of £1. 15m on Thursday - a significant improvement compared to a loss of £0. 86m in the same period in 2023.
International PPL declares interim dividend in line with target
Infrastructure investor International Public Partnerships declared a fully cash-covered interim dividend of 4. 18p per share in its half-year results on Thursday, contributing to full-year target dividend growth of 3%, bringing the total to 8. 37p per share for 2024, up from 8. 13p in 2023.
Mkango raises £1.25m to expand magnet recycling operations
Mkango Resources announced on Thursday that it has completed a private placement, raising £1. 25m to support its efforts to expand its rare earth magnet recycling operations in the UK and Germany.
UK construction sector 'turns corner' - PMI
The UK construction sector's recovery continued in August, a closely-watched survey showed on Thursday, although the rate of expansion eased.
PPHE Hotel Group inks major refinancing deal
PPHE Hotel Group announced a major refinancing agreement with Aareal Bank on Thursday, extending the maturity of its existing loan for its Dutch hotel portfolio and the Holmes Hotel London.
Bakkavor posts strong first-half growth, CFO steps down
Fresh prepared food provider Bakkavor Group announced a strong set of first-half results on Thursday, highlighting revenue growth, improved margins, and debt reduction.
Genus reports mixed full year, warns of currency headwinds
Genus reported strategic progress amid challenging market conditions, particularly in China, in its preliminary full-year results on Thursday, although it warned of potential currency headwinds going forward.
Funding Circle swings into the black, shares soar
Shares in Funding Circle rocketed on Thursday, after the business lender unexpectedly swung into the black and boosted its full-year outlook.
Beowulf reports positive test-work results from Kallak Project
Beowulf Mining announced positive results from its 2024 metallurgical test-work programme for the Kallak Iron Ore Project in Sweden on Thursday.
Spectris buys Austria’s Piezocryst for €133.5m
Spectris said on Thursday that it has bought Austria’s Piezocryst from AVL for €133. 5m (£112. 2m).
WAG Payment Solutions upbeat despite profit slide
WAG Payment Solutions insisted trading remained on track on Thursday, despite a sharp fall in half-year profits.