Morrison’s has today reported it may sell up to 10% of its properties after revealing disappointing figures over the festive period. The plan to sell off part of its £9bn property portfolio has resulted in shareholders warning it is incredibly dangerous to do so. At present, Morrison’s owns 90% of its properties which are worth £9bn.
Department store, Debenhams PLC, has today revealed Sports Direct International has bought a 4.6% stake in the firm. Debenhams has today released a statement that states the sports retailer has bought 56.8m shares for an undisclosed sum on Jan 8 and Jan 9 and has also said they are “open minded with regard to exploring operational opportunities to improve its performance, alongside its own existing and planned initiatives”.
Emergency maintenance firm, Homeserve, has today revealed they face a fine of £34.5m imposed by the Financial Conduct Authority for alleged mis-selling and poor handling of customer complaints. The fine, which follows an 18-month investigation into the alleged failures, is said to be significantly higher than expectations.
Active Energy Group +38.89%
Wood chip and timber supplier, Active Energy Group, has today reported a significant contract win to supply two Turkish MDF manufacturers with wood chip. This contract is to raise additional revenue of around $24m for the company.
Straight PLC +25.35%
Environmental products and services group, Straight PLC, has today told investors the firm has been re-appointed by Eastern Shires Purchasing Organisation and Central Buying Consortium. The re-appointment is to supply a range of different products under a two-year framework agreement.
Sports Direct International -0.99%
Sports Direct has today revealed it has purchased a 4.6% (56.8m shares) stake in Debenhams for an undisclosed sum. The company has today released a statement that says it “wishes to explore options at an operational level to work together with Debenhams”.
Dechra Pharmaceuticals -1.19%
Veterinary pharmaceuticals firm, Dechra Pharmaceuticals, has today said 1H operating profit for the six months to Dec 31 2013 is estimated to be in line with management expectations. Revenue for the company is up 4% from the same period last year.
Tullett Prebon -2.66%
Tullett Prebon has today been cut to “Neutral” from “Buy” by analysts at Goldman Sachs.
ICAP PLC -1.17%
ICAP PLC has today been cut to “Sell” from “Neutral” by analysts at Goldman Sachs.