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.
Italian gaming regulators have approved FTSE 250 gaming technology outfit Playtech’s (PTEC) €846 million acquisition of Snaitech.
Shares in drug maker AstraZeneca (AZN) rose had risen by 2.52% to 5,373p at 1100 BST after the US Food and Drug Administration approved Lokelma, which is designed to treat high blood potassium levels.
FTSE 100 miner Glencore (GLEN) has seen its shares tumble 4.56% to 380.60p this afternoon on the back of news that it will be investigated by the Serious Fraud Office.
Carpetright (CPR) has announced plans to raise net proceeds of £60 million via a placing of new shares. Roughly a third of these funds will be used to cover the costs of its company voluntary arrangement and repay outstanding short term debts while the remainder will satisfy the capital expenditure requirements of the firm’s Revised Business Plan.
