Morrisons chairman Andrew Higginson adds Warburg Pincus to CV February 22, 2015 Private equity giant Warburg Pincus has signed up new Morrisons chairman Andrew Higginson as a senior advisor for the firm, it came to light yesterday. It is thought the experienced retailer will help Warburg identify possible acquisitions – not limited to the retail sector – in a part-time role. Higginson’s relationship with Warburg dates back [...]
Shapland is named Poundland chair in retail merry-go-round July 29, 2014 Poundland yesterday named Darren Shapland as its new chairman after losing its current boss to the troubled supermarket Morrisons in the latest round of retail musical chairs. Shapland joined the bargain chain’s board as a senior independent director ahead of its £750m float in March after a brief stint as chief executive of the flooring [...]
Best of the Brokers for 16 January 2015 January 15, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com 4IMPRINT WH Ireland reiterated the promotional products manufacturer’s “buy” rating, raising the target price to 925p. The broker said the firm’s most recent update “reconfirms the strong organic growth of the business” and said the increased target price reflected “the impressive ongoing business [...]
Toblerone and Red Bull a hit for Poundland in Spanish Dealz shop July 3, 2014 Poundland chief executive Jim McCarthy said yesterday its Dealz chain “could be bigger” in Europe than its sister chain in the UK, after kicking off its expansion by opening its first store in Spain on Wednesday. The company, which reported a 23.5 per cent jump in annual profits yesterday, said 2,700 people came [...]
B&M eyes more stores as sales jump by a third May 28, 2015 Bargain retail chain B&M has hiked its store expansion targets after reporting a near 30 per cent jump in revenue in its first year as a public company. The company, which sells everything from toys to electrical goods and furniture, yesterday said sales jumped 29.5 per cent to £1.6bn in the year to 28 March, [...]
Poundland sees profits dive but plans to add 60 new stores July 3, 2014 Budget chain Poundland has reported a fall in statutory pre-tax profits of 19 per cent to £21.5m, thanks largely to costs associated with its recent IPO. Underlying pre-tax profits rose a hefty 23 per cent to £36.8m. The company, which had its IPO in March, enjoyed growth in like-for-like sales of 1.9 per cent and [...]
JP Morgan gets Poundland gig May 6, 2014 JP MORGAN pulled further ahead in the corporate broking league tables yesterday as Poundland appointed the investment bank. It means JP Morgan now has 220 broking clients, including 34 of the FTSE 100 and 92 of the FTSE 250. Poundland is a FTSE 250-sized firm, but with its recent listing has not yet been added to the index [...]
Poundland’s sales near £1bn May 8, 2014 CASH conscious shoppers continued to flock to Poundland for bargain buys last year, boosting the discount retailer’s sales to just under £1bn. The chain, which has benefited from the polarisation in spending in the market, opened a net 70 stores in the year to 30 March, helping to deliver £998m revenues, up 13.3 per cent [...]
Investors feasted on £13.6bn in London-listed IPOs last year January 6, 2015 Hungry investors feasted on billions of pounds in initial public offerings (IPOs) on the London Stock Exchange last year. In 2014 around 104 plucky issuers raised a total of £13.6bn on London's main and AIM markets. This represented a 10 per cent increase from the previous year's activity according to data from Thomson Reuters. Throughout the [...]
Correction: Poundworld October 9, 2014 VALUE chain Poundworld was censured by the Advertising Standards Authority this week for failing to provide accurate pricing information – not Poundland, as initially reported by City A.M. on Thursday 9 October. Poundland has had no rulings made against it by the Advertising Standards Authority. We would like to apologise to Poundland for this mistake.