Ladbrokes share price slides profits hit by punters and new taxes April 22, 2015 The numbers Ladbrokes' share price is down two per cent this morning after reporting a fall in operating profits cent year-on-year of 22 per cent to £14.3m. Group net revenue rose 3.3 per cent for the quarter to 31 March. The digital side of the business continues to grow strongly with mobile betting up 62.7 per cent. Why [...]
Tesco racks up record £6.38bn loss in worst year in supermarket’s history April 22, 2015 Tesco has racked up a £6.38bn loss – the worst year in the supermarket's 96-year history. It's one of the biggest losses ever made by a UK company, and the biggest ever made by a British retailer. The beleaguered supermarket's pre-tax losses for the year are even higher than the £5bn markets had been expecting. One-off [...]
Payday lender Wonga to drop toxic name and advert puppets after losses April 21, 2015 Payday lender Wonga is planning to replace its toxic brand with a new name and a range of products beyond its core payday lending business, its bosses said yesterday. The online loans firm made a £37.3m loss in 2014 on falling lending and a sharp rise in costs. It is under financial strain as [...]
Wonga re-branding: Experts predict payday lender to pick a very boring new name April 21, 2015 Wonga is likely to pick a dull name to deflect attention in future, brand consultants told City PM The online payday lender ran a hugely successful branding campaign, rapidly becoming the most high-profile firm in its sector. “Its success was also its downfall,” said Sholto Lindsay-Smith from brand consultancy Industry. “It was the most catchy name [...]
Savills beefs up rural presence with Smiths Gore acquisition April 21, 2015 Property company Savills yesterday announced a deal to buy Smiths Gore – a rural property specialist. Smiths Gore has operated as a partnership with 532 staff, across 31 UK offices and 14 estate offices, all of whom will transfer into Savills Rural Energy and Projects (REP) division or its Country Residential Agency business. The takeover [...]
Sky share price touches 14-year high as profit and customers jump after splashing billions on Premier League rights April 21, 2015 Shares in Sky jumped as much as five per cent in early trading, touching a 14-year high, after the firm announced it had grown profit, revenue and customers The figures For the nine months to the end of March, Sky operating profit was up 20 per cent to £1.025bn on revenue of £8.453bn, which also grew five per [...]
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 [...]
