Ifa News Round-Up
Lloyds FY profit soars, puts aside £450m for motor finance probe
Lloyds Bank on Thursday reported a 57% jump in full-year profits and announced another £2bn share buyback, but also set aside £450m for the regulatory probe into UK motor financing.
Dr Martens shares up as guidance held despite Q3 sales slump
Shares in Dr Martens surged on Thursday as investors breathed a sigh of relief that the UK bootmaker held full year guidance after third-quarter revenues slumped by a fifth, driven by a poor performance in the US and from its wholesale channel.
EasyJet sees H1 losses narrowing despite £40m hit from MEast war
Budget airline easyJet said it had taken a £40m hit from the Middle-East conflict, but said it expected first-half losses to narrow and reported positive booking momentum for the summer.
Crest Nicholson FY profits slump amid tough market; CEO to retire
UK housebuilder Crest Nicholson posted a bigger-than-expected fall in annual profits but said it was encouraged by an increase in customer inquiries as borrowing costs fell, while chief executive Peter Truscott announced he was stepping down to be replaced by Persimmon chief commercial officer Martyn Clark.
FDJ makes €2.6bn offer for Kindred Group
French gambling company La Francaise des Jeux on Monday launched a €2. 6bn takeover bid for Sweden's Kindred Group.
Sainsbury's shares slide on guidance hold, weak merchandise sales
Shares in Sainsbury's fell on Wednesday after a broadly-upbeat Christmas trading update did not include any upgrade to full-year forecasts despite like-for-like sales at the UK supermarket chain rising 7. 4% in the key trading period.
Grifols board to meet as shares tank on Gotham City debt claims
Shares in Grifols plunged by almost a third on Tuesday after Hedge fund Gotham City Research alleged the Spanish drug company's debt ratios were much higher than officially reported, wiping billions off its stock market value.
Petrofac shares surge after contract deal with TenneT
Shares in Petrofac surged on Wednesday after the oilfield services company said it had secured performance guarantee for the first contract awarded under its agreement with Dutch electricity company TenneT.
UK borrowing up but gives Hunt room for tax policy changes
UK public borrowing came in less than expected in the first seven months of the financial year, according to official data published on Tuesday, a day ahead of finance minister Jeremy Hunt's autumn budget.
Ashtead shares slump as FY profit, revenue outlook cut on weak US
Shares in Ashtead slumped on Monday as the industrial equipment company lowered full year revenue and profit forecasts after a quieter hurricane season and the writers’ and actors’ strike in the US and revealed it would take a $2bn depreciation charge.
German October PPI falls 11% year-on-year
German producer prices fell 11% on an annual basis and in line with expectations in October, the federal statistics office Destatis said on Monday.
M&S cautious on H2 despite 52% jump in interim profit; Divi restored
UK retailer Marks & Spencer on Wednesday reinstated its dividend and delivered a 56. 2% rise in first-half profits, but warned sounded a note of caution about future trade in the run in to Christmas citing higher interest rates, weather and geopolitical events.
Maersk to cut 10,000 jobs; lowers profit guidance
AP Moller-Maersk is to cut more than 10,000 jobs worldwide, the shipping group confirmed on Friday, after demand and prices both fell sharply.
Lloyds Bank Q3 profits surge despite lower lending
Lloyds Bank reported a massive jump in third quarter profits as it continued to cash in on higher interest rates, despite a reduction in lending to customers amid tough macroeconomic conditions.
Indivior to pay $385m to settle Suboxone monopoly case
Addiction treatment drug maker Indivior said it had agreed to pay $385m to resolve the final lawsuit claims against it in the long-running Suboxone anti-trust case.
Future shares surge as annual guidance held despite 'mixed' markets
Shares in specialist media firm Future surged by more than 20% on Friday as it held annual earnings guidance despite volatile markets, and a warning that trading conditions remain mixed.
Rathbones CFO to become chief of staff to support Investec Wealth transition
Rathbones chief financial officer Jennifer Mathias is stepping down at the end of the year to become group chief of staff to support the integration of Investec Wealth & Investment Limited (IW&I), the company said on Friday.
Mitchells & Butlers sees FY at top end as cost pressures ease
Pub and restaurant chain Mitchells & Butlers said it expected full-year earnings would be at the top end of expectations after a strong rise in sales and easing of cost headwinds.
Morrisons CEO Potts to step down, replaced by former Carrefour boss
Supermarket chain Morrisons said David Potts was stepping down as chief executive after nine years in the role, to be replaced by former Carrefour boss Rami Baitiéh.
LandSec says demand holding up despite rising rates
Property developer Land Securities reported a rise in lettings over the first five months of the financial year as demand for office space held up, despite rising interest rates.