William Hill swings to £722m loss for 2018 after regulatory changes hit bottom line March 1, 2019 William Hill fell to a staggering loss of £722m last year, it confirmed today, as the bookmaker recommitted to meeting guidance for 2019. Read more: William Hill confirms likely 2018 profit drop The figures The gambling firm swung to a loss of £721.9m in 2018, down from 2017’s profit before tax of £146.5m. Revenue rose [...]
Revolution Bars issues profit warning as chain is shaken by ‘challenging’ trading conditions March 1, 2019 Bar chain Revolution’s shares plunged 14 per cent in early morning trading as it issued a profit warning and said it was putting new venues on hold because of a “challenging” market. The company, which runs 79 bars under both the Revolution and Revolucion de Cuba brands, said it had suffered a disappointing opening period in [...]
Fedex creates Segway-inspired delivery robot with Pizza Hut and Walmart February 28, 2019 Fedex has unveiled a pizza delivery robot that will hit the streets this summer. Read more: What’s on your tech radar for 2019? Pizza Hut and Walmart are both on board, with trials set to begin soon in cities across the US, including in Fedex’s hometown of Memphis. The autonomous bot, which is powered by an [...]
Business rate appeals dip as industry warns of ‘complicated’ process February 28, 2019 Frustrations over business rates were underlined this morning, with industry experts warning that new figures show the current process for appealing against property taxes is too complicated. Government data released today shows that there were roughly 65,000 appeals to dispute business rates between 1 April 2017, when a new system was introduced, and 31 December 2018, slumping [...]
Top financial PR firm cuts ties with Sir Philip Green amid conduct allegations February 27, 2019 Sir Philip Green’s financial PR firm is set to jump ship tomorrow in the latest corporate blow to the embattled mogul, just days after Baroness Karren Brady quit as chair of his retail empire. Morning Wire understands that Green’s communications consultancy Maitland/AMO is ending its relations with the scandal-hit tycoon tomorrow evening amid mounting public [...]
Sainsbury’s shares crash as Asda merger torpedoed February 27, 2019 | City Talk A strongly worded report from the regulator appears to have torpedoed this supermarket mega merger. What a difference a day makes. Until this morning, Sainsbury's (LSE:SBRY) was the best-performing supermarket stock over the past 12 months by some margin. Now, after the regulator's report on its proposed merger with Asda, it's the worst! After months [...]
Soft drinks maker Nichols boosts profits and payout as Vimto sales grow in 110th year February 27, 2019 Soft drinks maker Nichols boosted profits and hiked investor payout as Vimto proves popular in its 110th year. The figures Pre-tax profit grew four per cent to £31.8m for the full year compared with 2017, while group revenue rose seven per cent to £142m. Read more: Vimto adds some fizz to owner Nichols The final dividend for [...]
Poundland launches red and blue passport covers before Brexit February 27, 2019 There is no love lost between Leavers and Remainers over Brexit, but the two sides could come to blows in the aisles of Poundland as the retailer releases red and blue passport covers. The Brexit-inspired passport covers mean fierce Brexiters or lamenting Remainers can cling to the preferred colour of their choice even after blue [...]
Marks & Spencer investors suffer dividend blow as retailer nets food delivery service in £750m Ocado venture February 27, 2019 Shareholders hammered Marks & Spencer’s shares this morning as it became clear the retailer plans to hit up investors to fund a £750m food delivery venture with Ocado. M&S’s stock dropped 9.2 per cent to 303p as it confirmed plans to raise £600m through a rights issue as well as knocking down shareholders’ dividend. The [...]
Under-fire Ted Baker issues profit warning as shares plunge February 27, 2019 Ted Baker warned investors of a £10m hit to profits for its full year this morning, blaming a series of unexpected blows to its bottom line. Profit before tax for the year to the end of January is now expected to fall in the region of £63m, sending shares crashing 13 per cent to 1,734p. [...]