Reckitt Benckiser announces strong revenue growth as it tackles inflation in the first half July 27, 2022 Reckitt Benckiser reported strong revenues and performance in the first half of 2022 as it continues to tackle the challenging inflationary pressures gripping the global economy. The consumer goods company reported a revenue growth of 8.6 per cent to £3.5bn and saw continued broad-based growth across all of its business units and geographies. Adjusted operating profit [...]
Tesla’s Bitcoin holdings lead to £141.5m impairment charge and £53.3m profit July 26, 2022 Tesla had an impairment charge of $170m (£141.5m) on the carrying value of its Bitcoin holdings, while making a $64m (£53.3m) profit from selling the cryptocurrency in the first half of 2022, the company reported. In a filing with the Securities and Exchange Commission on Monday, the electric automaker said that it must recognise impairment [...]
Bridgepoint boasts success despite economic challenges and announces solid first half of 2022 July 26, 2022 Shares in private growth investor Bridgepoint surged today after it shrugged off recessionary fears to post a jump in pre-tax profits for the first half of the year. The FTSE-250 firm said revenues topped £140.1m in the six months to the end of June, up from £122.2m in the same period last year, as underlying pre-tax [...]
Investment in London’s commercial property market drags as economic woes deepen July 25, 2022 London’s commercial property market took a hit in the second quarter of 2022 as investment declined amid a weakening economic outlook, according to data by BNP Paribas. Central London properties experienced an eight per cent investment drop at £4.5bn compared to Q2 last year, with the number of office deals transacting at less than half [...]
Macro challenges, climate change and digitisation drive growth for tech firm SThree July 25, 2022 Macro-economic challenges, digitisation and the fight against climate change provided a major boost to science and tech firm SThree. The company reported a 64 per cent rise in profit before tax to £44.3m in the first half of 2022 compared 2021’s first half. SThree also made progress towards ESG targets with more than 16,540 people [...]
Office attendance continues to climb – and it helps if you’ve got a Pret nearby July 25, 2022 Office attendance is up by a third compared to January, new data from workplace provider IWG shows. The group also said its data contained evidence that having a branch of Pret a Manger nearby might boost attendance at work. The group said that there had been major hikes in visits to its office and co-working [...]
Ukrainian poultry and grain giant faces ‘complex challenges and disruptions’ amid Kremlin’s war July 22, 2022 MHP SE, the parent company of a major international poultry and grain producer based in Ukraine, announced it is experiencing “complex challenges and disruptions” following the Russia-Ukraine war. The company suffered an 11 per cent decline in poultry production from 63,735 tonnes to 63,735 tonnes in June 2022 compared to a year ago and an [...]
Ericsson acquires Vonage for £5.2bn July 22, 2022 Telecommunications company Ericsson has completed its $6.2bn (£5.2bn) acquisition of American cloud communications company Vonage. Vonage is now a wholly-owned subsidiary of Ericsson and will become a separate business area within Ericsson. Vonage common stock has stopped trading and will not be listed on the Nasdaq Global Select Market now. Vonage will still operate under its [...]
FRP announces higher revenue and growth despite economic uncertainties July 22, 2022 FRP Advisory Group announced higher revenues and a growth in team size and market share despite a weakening economic outlook. For the year ended 30 April 2022, revenue rose 21 per cent to £95.2m from £79m in 2021, with a 15 per cent increase in FRP’s team size by 66 to 504 (excluding consultants). FRP Corporate [...]
Microsoft slashes open job listings as hiring slows down July 21, 2022 Microsoft is cutting several open job listings as it slows hiring amidst a gloomy economic outlook. The tech giant is expanding the hiring slowdown first announced in May and will continue this for the foreseeable future, Bloomberg reported, as a weakening economy dents confidence. Hiring will slowdown in the company’s Azure business and security software [...]