Latest News

Debenhams returns to profit after five years


By Goran Nastic

Online retailer Debenhams Group reported its first pre-tax profit in five years and expects to be almost debt-free by year-end.

The company, formerly known as boohoo, reported a pre-tax profit of £28.3m for the six months to 31 August, compared with a £17.9m loss a year earlier


Highlighted Content

Why the most effective default pension investments are built to evolve

For most employees, pension saving happens in the background. Contributions are paid in each month, but few people make an active investment choice.


Story 2

Evoke revenue falls following shop closures

Evoke has reported that its group revenue fell by 7% year-on-year to £406m in Q3, following the closure of 270 retail shops and “particularly customer-friendly sports results” at the start of the football season

Story 3

Anthropic and Hg team up to launch European AI consultancy

AI developer Anthropic is expanding deeper into the corporate services market through a new European consultancy backed by UK private equity firm Hg, as demand grows for practical support in deploying AI across businesses

Story 4

Sainsbury’s raises profit outlook despite slowing sales growth

Sainsbury’s has raised its full-year profit guidance after reporting higher sales and underlying operating profit in the first half, driven by continued grocery volume growth and cost savings

Story 5

Fintel acquires Mortgage Brain Holdings

Fintel has announced the acquisition of Mortgage Brain Holdings as it looks to strengthen its software and data division and expand its presence in the mortgage market

Story 6

Barclays to cut 5,000 jobs in AI transformation

Banking giant Barclays has unveiled plans to cut around 5,000 jobs this year, roughly 5% of its global workforce, linked to linked to AI-driven efficiency measures, which overshadowed a strong rise in third-quarter pre-tax profit and £500m share buyback

The job cuts are expected to fall mainly on support and operational functions, including technology-related roles

Story 7

Rentokil launches $200m buyback with CFO stepping down

Rentokil Initial has approved a $200m share buyback and reaffirmed its full-year profit guidance after delivering 3.4% organic revenue growth in the third quarter, while announcing that CFO Paul Edgecliffe-Johnson will step down in January 2027

Story 8

LSEG acquires Octus for $3.5bn

London Stock Exchange Group (LSEG) has agreed to acquire the provider of credit intelligence, data and workflows, Octus, for just over $3.5bn

Story 9

Mobico shares soar after board backs potential takeover

Shares in FTSE 250 transport operator Mobico Group jumped 34% on Wednesday after the company formerly known as National Express revealed it had received a potential takeover approach from a consortium backed by its largest shareholder

Story 10

UK mid-market growth hits near two-year high

UK mid-market businesses recorded their fastest growth in almost two years in September, while employment rose at its strongest pace over the same period, according to NatWest

Ember Infrastructure to take Ashtead Technology private in £505m deal

Ashtead Technology has agreed a recommended cash takeover by a vehicle backed by Ember Infrastructure Management, in a deal valuing the offshore energy technology specialist at about £505m and bringing it into private ownership
Musk considers Tesla/SpaceX merger

Elon Musk is considering merging Tesla and SpaceX
Welsh National Opera pension scheme concludes £11.1m buy-in with Utmost

The Welsh National Opera Limited Pension Scheme has concluded an £11.1m buy-in with Utmost, securing the benefits of all 158 members of the scheme


View More News

BANNER

MPU

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