Company News
Cabot Credit Management confirms reports of London float
One of Britain’s largest debt collectors was confirmed to be toying with the idea of a float this week, as reports emerged that three investment banks had been called in.
Facebook hiring 3,000 to combat inappropriate streaming
Social network Facebook announced on Wednesday that it would hire 3,000 employees to monitor content on its site after recent incidents of violence being live streamed by users.
Thursday preview: HSBC, Shell on tap; services PMI seen slipping
Thursday is gearing up to a busy day on both the corporate and macroeconomic fronts, with results due from oil giant Shell and banking behemoth HSBC.
Focus on customers sees Focusrite earnings surge
Music and audio hardware and software supplier Focusrite announced its half year results for the six months to 28 February on Wednesday, reporting “strong” organic growth across all key financial metrics and key performance indicators.
Prospex operating loss widens as development continues
Investment company Prospex Oil and Gas announced its final results for the year ended 31 December on Wednesday - another year in which it recorded nil revenue, and widened its operating loss to £0. 78m from £0. 6m in the prior year.
Indivior shoots off to strong start as generic trial outcomes loom
Indivior got off to a solid first quarter as sales of its Suboxone film for heroin addiction remained resilient and it waited on the outcome of patent challenge trials with Dr Reddy's, Actavis and Par that are expected in the second quarter.
Audioboom revenue up in final results
Spoken word audio on-demand platform Audioboom announced its final audited results for the 12 month period to 30 November on Wednesday, reporting that total revenue had increased by £1. 1m to £1. 3m.
Clipper Logistics signs eight year deal with Halfords
Value-added logistics solutions and e-fulfilment provider Clipper Logistics announced on Wednesday that it signed a new eight-year contract with Halfords to provide additional warehouse fulfilment and ancillary services from its distribution centre at Danes Way, Daventry.
Pennon drops as Manchester wants out of waste management contract
Utility infrastructure company Pennon was under pressure on Wednesday after the Greater Manchester Waste Disposal Authority confirmed that it was looking to exit its recycling and waste management contract with Viridor Laing.
Morgan Stanley downgrades Aggreko, prefers DDD and AA
Casting its critical eye over the larger UK business services groups, Morgan Stanley advised clients avoid Aggreko, Berendsen, Adecco and Capita, recommending investors own DCC, AA, Experian and Rentokil instead.
Kuwait Energy plots LSE listing to finance Iraq investment
Kuwait Energy announced its intention to float in London to raise $150m to finance its bid to become the leading independent oil and gas exploration company in the MENA region.
StanChart planning Frankfurt subsidiary
StanChart has made plans to set up a subsidiary in Frankfurt to conduct the business it will no longer be able to carry out from its headquarters in London after the UK leaves the European Union.
Project Icewine on track, reports 88 Energy
88 Energy updated the market on Project Icewine, located onshore North Slope of Alaska, on Wednesday, reporting that Icewine#2 drilling operations were on schedule and without incident, and Arctic Fox was drilling ahead in an intermediate hole.
Pieris Pharma rockets after inking deal with AstraZeneca
Pieris Pharmaceuticals shares rocketed after inking a multi-million dollar deal with AstraZeneca to develop drugs to treat respiratory diseases.
Supermarkets sales swell on Easter egg sales, discounter eat further share
Supermarkets enjoyed a £325m spent on Easter eggs over the last three months to help the sector grow at its fastest rate for three and a half years, while shop price deflation eased.
Centamin reiterates full-year 2017 production guidance
Centamin's profits caved in at the start of the year as production declined, but the company reiterated its full-year output guidance on expectations for a recovery in the grade of gold it mines at its main open pit mine and continued high productivity at its underground operations.
Carillion hails 'encouraging' start to year
Support services company Carillion said on Wednesday that trading conditions have remained largely stable since its full-year 2016 results in March and it has made a promising start to the year.
Trakm8 secures contract extension with Direct Line Group
Shares in Trakm8 Holdings advanced more than 7% as investors cheered a contract extension with motor vehicle insurer Direct Line Group.
Wednesday broker round-up
Burberry: RBC downgrades to Underperform with a target price of 1530p.
Intu pleased with rental progress, though Brexit risk looms
Shopping centre investor and operator Intu Properties posted a trading update for the period from 1 January to date on Wednesday, in preparation for the company’s annual general meeting, reporting continued active retailer demand with 42 long term leases agreed during the period.