House of Fraser posts record sales in first year under Nanjing Xinjiekou as it ramps up international expansion April 21, 2015 House of Fraser's new owners will be toasting their decision to acquire the business, which has revealed record like-for-likes for the year. The figures Like-for-like sales at the department store were up 5.8 per cent, with gross total value (GTV) rising to £1.3bn. Profits rose £29.6m to £460.2m while adjusted EBITDA rose seven per [...]
Payday lender Wonga slips into the red as regulatory crackdowns take their toll April 21, 2015 The figures Things aren't looking good for much-maligned payday lender Wonga. Figures posted today showed it slipped into a pre-tax loss in 2014, to the tune of £37.3m, down from a profit of £39.7m this time last year, as various regulatory crackdowns took their toll on its figures. That pushed it to a net loss [...]
Associated British Foods’ share price falls as Primark sales fail to sweeten sugar business April 21, 2015 The figures Primark owner Associated British Foods (ABF) felt the pinch from falling sugar prices in its first half, with pre-tax profit across the group halving to £213m for the six months to the end of February, compared with £434m during the same period last year. The news caused shares in ABF to open three per cent down. [...]
Arm Holdings share price jumps as revenues rise 22 per cent April 21, 2015 The figures One of the darlings of the UK's tech scene has reported revenues up 22 per cent to £227.5m in the first quarter, as sales in the phones its chips power jumped. Arm Holdings, which licenses its chip designs to the likes of Apple and Samsung, said pre-tax profits had jumped 24 per cent [...]
Pets at Home VIP club soars by 270,000 as revenue growth meets expectations April 21, 2015 The figures Like-for-like revenue growth at pet supplies retailer Pets at Home grew 4.2 per cent for the year to 26 March. Total revenue climbed 9.6 per cent to £729.1m while fee income from joint venture veterinary practices soared by 30.7 per cent to £28.2m. Merchandise like-for-like revenue grew steadily by 3.7 per cent but like-for-like [...]
Credit Suisse smashes expectations in first quarter April 21, 2015 The figures Credit Suisse smashed forecasts in the first quarter with net profits up 23 per cent to SFr1.054bn (£740m) with its private bank providing a boost to the bottom line. Analysts had expected that to come in at between SFr900m and SFr1bn Swiss francs for the first three months to the end of March. Net [...]
Everyman in £20m cinema buyout splurge with London screens in Gerrards Cross, Esher, Muswell Hill and Barnet April 20, 2015 Everyman Media Group raised £20m in a share placing yesterday, announcing it had successfully tapped up investors for funds to buy more cinemas. The group, which is listed on the Alternative Investment Market (Aim), is buying four cinemas across London, with a total of 14 screens. As a result, the group will increase the [...]
Consumer credit firms cut back lending on watchdog delays April 20, 2015 Payday borrowers could be left without credit, as lenders are forced to cut back business on delays to authorisation from the regulator, a former Financial Conduct Authority (FCA) worker said yesterday. The FCA took over regulating the 50,000 consumer credit firms last year, giving them all temporary licences and asking them meet tough new rules [...]
Nomad Foods tycoons swoop for Iglo-owned Birds Eye in €2.6bn deal April 20, 2015 Iglo Foods, the owner of Bird’s Eye fish fingers, was sold to a US consumer foods group chaired by former City minister Lord Myners in a €2.6bn (£1.9bn) deal yesterday. Nomad Foods, which was founded last April to launch consumer takeovers, has bought the group from London-based Permira. UK-headquartered Iglo is Europe’s biggest frozen food [...]
Tesco set to report record loss. Is new boss Dave Lewis the man to lead a turnaround? April 20, 2015 Dave Lewis arrived at Tesco with the nickname “Drastic Dave” – earned after he streamlined Unilever UK in 2007, cutting 40 per cent of costs and 300 jobs. When he took up the role of Tesco chief executive in September he had every reason to live up to that moniker. Facing a £263m accounting error, [...]