Latest News

Wetherspoons issues profit warning as costs increase


By Dan McGrath

Wetherspoons has stated that its profits may be slightly below market expectations as costs increase across the business.

The pub chain reported that in the 13 weeks to 26 April, like-for-like sales increased by 3.4% year-on-year, while its LFL sales in the year-to-date jumped by 4.3%


Story 2

Next beats expectations in Q1

Next has reported that its full price sales increased by 6.2% year-on-year, beating expectations of 4% set out in its full-year results

Story 3

Diageo reports 2.3% sales increase in Q3

Diageo has stated that its reported net sales increased by 2.3% to $4.5bn in the third quarter, reflecting a positive hyperinflation adjustment

Story 4

Vodafone takes ownership of VodafoneThree joint venture

Vodafone has agreed to take ownership of the VodafoneThree joint venture for £4.3bn via a cancellation of shares

Story 5

Santander completes £2.65bn TSB acquisition

Santander UK has completed the acquisition of TSB for an all-cash consideration of £2.65bn.

The takeover, which received regulatory approval from the Prudential Regulation Authority and the European Central Bank, represents the single largest investment in the UK banking sector for over 15 years

Story 6

NatWest profits increase 12% in Q1

NatWest has recorded an 11.6% quarter-on-quarter increase in its profit before impairment losses, totalling £2.3bn in the three months to 31 March

Story 7

HSBC reports profit hit following fraud-related exposure

HSBC has seen its profit before tax drop by just over 1% in the year to 31 March, totalling $9.37bn, following a $400m "fraud-related, secondary, securitisation exposure" with a UK financial sponsor in its corporate and institutional banking business

Story 8

Gleeson Homes records ‘resilient’ performance in latest trading update

Gleeson Homes has reported a "resilient" trading period in the 11 weeks to 24 April, as its net reservation rate increased from 0.86 per site per week to 0.88 year-on-year

Story 9

Rolls-Royce trading update ‘restores calm’ following geopolitical uncertainty

Rolls-Royce has seen its share price increase by over 6% after it was able to "restore some calm" after a turbulent few months following the beginning of the Middle East conflict.

The FTSE 100 engineering firm said it had a "strong start" to the year across all three of its divisions, with its defence sector recording a good beginning to 2026, following an improved aftermarket performance

Story 10

Bank of England holds base rate at 3.75%

The Bank of England (BoE) has chosen to hold interest rates at 3.75% as uncertainty continues surrounding the economic impact of the conflict in the Middle East

Unilever posts 3.8% USG in Q1

Unilever has recorded a 3.8% increase in its underlying sales growth (USG), totalling €12.6bn in the period, with volume growth jumping by 2.9%
Lloyds reaches £2bn in profit in Q1

Lloyds Banking Group has reported a 33% increase in its profit before tax year-on-year in the three months to 31 March, totalling £2bn.

The bank said the rise was a result of higher total income, which beat expectations to jump by 9% to £4.8bn, with return on tangible equity (RoTE) standing at 17%
Persimmon records no ‘material impact’ from Iran conflict

Persimmon said that it has not experienced "any material impact" from the heightened macroeconomic uncertainty on either its supply chain or sales rates in its latest trading update


View More News

BANNER

BANNER

FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Tick here to confirm you are happy to receive news and promotions sent by Corporate Finance News that you can opt out of at any time.


© 2019 Perspective Publishing     Privacy & Cookies