Exclusive: City fund managers on the impact of the third lockdown January 13, 2021 In this 2-part series, City A.M. asked UK-focused fund managers what they make of post-Brexit trade arrangements, the impact of three lockdowns and the long-term outlook for the UK’s investment community. Yesterday, in part 1, the investment managers focused on the UK-EU deal and which sectors and companies may become the winners and losers from [...]
FTSE 100 sinks ahead of Brexit talks and US presidential debate September 29, 2020 The FTSE 100 lost momentum today as rising coronavirus cases kept investor sentiment subdued ahead of the next round of Brexit negotiations and the first US presidential debate. The blue-chip index had slipped 0.72 per cent by lunchtime after following global stocks higher yesterday in a so-called relief rally. Read more: Hotel Chocolat swings to [...]
Car dealer Pendragon returns to profit after first half loss September 29, 2020 Car dealer Pendragon said that trading had shown a “significant improvement” in July and August after the company posted a smaller loss for the first half of the year. The London-listed firm said that though the outlook for the rest of the year was uncertain, it was confident that it was “well-positioned” in the long [...]
Wolseley owner Ferguson resumes dividend despite pandemic-related profit hit September 29, 2020 Plumbing giant Ferguson — formerly known as Wolseley — announced a resumption of dividend payments today despite a less-than-watertight set of full-year results after activity was held back during the pandemic. The results Revenue slipped 0.9 per cent to $21.8bn for the 12 months to 31 July, down from $22bn in the same period last [...]
Hotel Chocolat swings to loss as pandemic bites into sales September 29, 2020 Luxury chocolatier Hotel Choclat swung to a statutory loss in the 52 weeks to June, after shuttered commuter hubs and store closures during the crucial Easter period swallowed up sales and hammered finances. The results Revenue rose three per cent for the 12 months to the end of June, after a 14 per cent hike [...]
Lloyds boss: Coronavirus business loan scheme was ‘painful’ and ‘flawed’ when launched May 4, 2020 The launch of the government’s coronavirus business loan scheme was “painful” and “flawed”, according to one of the top bosses of Lloyds Bank. David Oldfield, group director and chief executive of commercial banking at Lloyds, said today that the government’s emergency loan scheme was “cumbersome and onerous” when it launched. He added that he still [...]
Hotel Chocolat secures £25m coronavirus loan as disruption expected until end of 2020 May 4, 2020 Hotel Chocolat announced this morning it has secured a £25m coronavirus large business interruption loan (CLBIL) as it warned that the pandemic could continue to impact trading throughout the rest of 2020. The high street retailer said it had agreed a £35m revolving credit facility with Lloyds Bank, replacing its previous £10m overdraft facility. The [...]
Coronavirus: Hotel Chocolat scraps dividend after £20m share placing April 2, 2020 Hotel Chocolat is the latest company to cancel its dividend in a bid to save cash during the coronavirus crisis. The high street chain said this morning that it has scrapped the proposed interim dividend, which was due to be paid to shareholders on 15 April, after raising an extra £20m through a share placing [...]
Hotel Chocolat sales boosted by roll-out of new stores February 25, 2020 Shares in Hotel Chocolat are up nearly 10 per cent as its new locations helped deliver a double-digit rise in sales for the first half of the year. The figures Hotel Chocolat reported a 14 per cent increase in revenue to £91.7m, up from £80.7m in the comparable period a year before. Underlying Ebitda rose [...]
Rescue this: Last-minute Valentine’s Day gifts you can buy in the City February 14, 2020 You’ve left it late, but there’s still time. Here’s where to find everything you need for Valentine’s Day this year without leaving the Square Mile. Windsor Flowers 25 Old Broad Street; windsorflowerslondon.co.uk Nothing says Valentine’s Day quite as succinctly and warmly as a good bunch of flowers. Not your wilting supermarket affair that looks like [...]