B&Q and Screwfix owner Kingfisher (LON:KGF) saw like-for-like sales decline by 4.0% in constant currency terms over the quarter ended 30th April. Management attributed three quarters of the decline in sales to bad weather conditions which impacted footfall, sales of weather-related products, and caused temporary store closures in the UK. Get the latest from Master…
US-based resource specialist Magnolia Petroleum (LON:MAGP) saw its shares collapse by 77.20% to 0.52p after it announced it would be de-listing from AIM. The firm’s management said that it was finding it increasingly difficult to raise money on the market despite the recovery of oil prices. Get the latest from Master Investor directly in your…
UK Consumer Price Inflation fell to 2.4% in April, it’s lowest level in over a year. The largest source of downward pressure came from air fares, as the Easter season was not included in April this year, while rises in motor fuel, recreation, and culture costs partially offset the fall. Get the latest from Master…
Soft drinks manufacturer Britvic (LON:BVIC) saw revenues for the 28 weeks ended 15th April climb by 4.5% to £733.2 million, with strong growth through the second quarter despite rough weather in Britain, Ireland, and France. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE Margins improved by 50 basis…
Supermarket chain Marks & Spencer (LON:MKS) has reported that pre-tax profits for the year ended 31st March fell by 62.1% to £66.8 million, largely due to costs related to the group’s transformation plan and store closures. When those costs are excluded, profits before tax were down by 5.4% because of weaker margins within the food…
Retailer Topps Tiles (LON:TPT) suffered a sharp downturn during the second quarter, but said that trading had improved somewhat in recent weeks. Like-for-like sales rose by 0.6% over the six months ended 31st March but this was split between a 3.4% increase in the first three months and a 2.2% drop in the second quarter…
Satellite communications specialist Inmarsat (LON:ISAT) plunged 9.21% to 352.80p after the company lost its 20-year monopoly on international maritime distress signals. US rival Iridium Communications has been certified by the UN to also provide the service, in theory. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE Iridium’s ability…
Meat products specialist Cranswick (LON:CWK) has reported that revenues for the year ended 31st March were up by 17.6% at £1,464.5 million, helped by a 30.2% surge in export sales. Statutory pre-tax profits also rose by 13.5% to £88.0 million. Get the latest from Master Investor directly in your inbox – Sign-up HERE for FREE…
Halfords (LON:HFD) saw its pre-tax profits drop by 6% to £67.1 million over the year ended 30th March, as profit margins on its retail sales fell by 123 basis points. Total revenues were up by 3.7% at £1,135.1 million, but the bulk of this growth was in the lower margin retail division while autocentre sales…
Shares in commercial biotech company Allergy Therapeutics (AGY) had shot up by 7.76% to 26.40p at 1320 BST after the company announced positive top line results from phase II trials for a treatment for glass allergies.
