Financial News

UK Retail sales post middling April recovery

UK Retail sales post middling April recovery

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There was positive news for the retail sector, as sales rose by a better than expected 1.6% relative to March. However, the most recent three months’ sales were only up by 0.1% on the prior period, as underlying trends remained sluggish. Get the latest from Master Investor directly in your inbox – Sign-up HERE for…

Plus500 looks to move to main market
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Plus500 looks to move to main market

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Digital trading platform Plus500 (LON:PLUS) has announced that it intends to move its listing from AIM to the main market of the London Stock Exchange. The company said that it believes this move will provide a more appropriate platform for continued growth and benefit shareholders by introducing more stringent corporate governance requirements. Get the latest…

Intertek revenues fall despite underlying growth
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Intertek revenues fall despite underlying growth

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Revenues at FTSE 100 quality assurance specialist Intertek (LON:ITRK) dropped by 2.5% for the four months to 30th April. The group made solid progress in real terms but were severely hampered by changes to foreign exchange rates. The majority of the underlying improvement came from organic growth in the products division, with the other business…

Kingfisher Q1 sales cool in bad weather conditions
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Kingfisher Q1 sales cool in bad weather conditions

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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…

Magnolia Petroleum to cancel AIM listing

Magnolia Petroleum to cancel AIM listing

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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…

Britvic revenues grow but profits lack fizz
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Britvic revenues grow but profits lack fizz

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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…

Marks & Spencer profits plunge but shares tick up
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Marks & Spencer profits plunge but shares tick up

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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…

Topps Tiles slips in second quarter
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Topps Tiles slips in second quarter

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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…

Inmarsat loses 20-year monopoly on distress signals
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Inmarsat loses 20-year monopoly on distress signals

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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…