Bovis shrugs off Brexit concerns as it eyes full-year profits ahead of expectations January 16, 2019 Housebuilder Bovis today said it expects profits to beat market consensus thanks to an increase in new homes and a wider margin. The number of new homes delivered rose three per cent on last year to 3,759, which the company said was in line with expectations. Read more: Persimmon boss picked pub for first big purchase [...]
Coronavirus dividend cuts produce £4.4bn hit to investor portfolios March 27, 2020 With more UK firms announcing coronavirus-fuelled dividend cuts this week, the total loss of investor income so far this year is now £4.4bn. The pace of dividend cuts is accelerating as coronavirus wreaks havoc on world economies. In March 116 companies have suspended their dividends totalling £4.2bn, according to investment fund AJ Bell. That compares [...]
Tesco turnaround marks the milestone for Drastic Dave April 10, 2019 In the never-ending debate about executive pay, examples of failure are cited more frequently than cases of good value for money. Recently the likes of WPP, Persimmon and Ted Baker have all demonstrated how the actions of the top boss can dent the fortunes of a company and frustrate shareholders. But despairing investors now have [...]
Generation Rent needs more help to buy property, not Help to Buy April 2, 2019 Britain is not yet a nation of renters – but it’s getting there. Half of children are now born in rented accommodation, versus a third back in 2003-4. The number of families renting with children has doubled in a decade, according to the insurance provider Royal London. Meanwhile, new analysis shows that the government’s Help [...]
Housebuilders lead the way as FTSE climbs to four-week highs January 9, 2019 The FTSE 100 has climbed one per cent in early trading as US-China trade talks and a housebuilder boost continued the index’s bright start to the year. The blue chip index has now risen 2.6 per cent so far this year as the third day of trade negotiations between the world’s two largest economies further [...]
Wates Group profits on the rise as construction firm battles Brexit fallout March 21, 2019 Construction firm Wates Group’s profits rose slightly last year as it battled against a downturn in work caused by Brexit. The UK’s largest family owned construction firm said it had continued improving profit by sticking to its core sectors and regions, as it went into 2019 with a record order book. Read more: MJ Gleeson [...]
Keep an eye on these shares during General Election November 8, 2019 The UK is holding a general election on 12 December. All the political parties are keen to return discussion to domestic policies after years of neglect because of Brexit, but the UK’s proposed departure from the EU will continue to dominate the debate. Still, whichever party wins (or parties, if it results in a hung parliament) [...]
Persimmon produce stable 1H numbers August 23, 2018 Persimmon shares are higher this week after the company registered a strong set of first-half results on Tuesday. Revenue jumped by 5% and pre-tax profit rose by 13%. The average selling price of a new home rose by 1%, which is a slight decrease on the 1.2% growth achieved in the first-quarter. The underlying new housing [...]
Help-to-Buy fuels rise in Persimmon’s profits August 21, 2018 Persimmon reported a 13 per cent rise in pre-tax profits for the first half of 2018 yesterday, as boosts from low interest rates and the government’s Help-to-Buy scheme eased fears that the housebuilder would be hit by a slowdown in the property market. Profits before tax rose to £516.3m in the six months leading up [...]
Executive pay is undermining the public’s faith in capitalism November 26, 2018 Question: what connects the leader of a York-based housebuilder with a car executive in Tokyo? Answer: both have recently been embroiled in scandals over top pay. Carlos Ghosn, chairman of Nissan, is under criminal investigation in Japan for under-reporting his remuneration to the Tokyo Stock Exchange and misusing company assets. Nissan removed him from post [...]