Property law transactions at historic lows but firms ‘must prepare’ for growth August 8, 2024 Transactions at property law firms have sharply slid back to pandemic-era lows this year, but firms expect Labour’s housing reforms, as well as falling interest rates, to create an onslaught of cases in the coming years. New research by legal data supplier Search Acumen, shared exclusively with City A.M., has found that total transactions across [...]
Flight to quality gets underway as half of London offices set to be ‘unlettable’ by 2027 August 7, 2024 Changes to energy efficiency requirements mean that a majority of office spaces in the capital won’t meet the minimum standard for leasing within the next four years, making it a race to re-fit before 2027. Minimum energy efficiency standards (MEES) currently require that rented commercial properties in England and Wales have a minimum EPC rating [...]
Tritax Big Box: Profit up as market reaches ‘inflection point’ August 7, 2024 Tritax Big Box, a real estate investment trust (REIT), reported strong first-half trading results and expressed optimism about investment opportunities in the strengthening UK real estate market. Tritax Big Box specialises in managing and investing in logistics-oriented real estate – also known as “big box” properties – which have become especially popular REITs since the pandemic. [...]
Property Franchise Group heralds ‘transformational’ growth after Belvoir deal August 7, 2024 The Property Franchise Group (TPFG), which operates brands including Hunter’s and Ellis & Co, has announced booming revenue following the acquisition of Belvoir and Fine & Country. Aim-listed TPFG, which merged with Belvoir earlier this year in a £110m deal , is the UK’s largest multi-brand property franchiser. The deal appears to have paid off, with group revenue [...]
Coca-Cola HBC raises guidance after strong half despite currency headwinds August 7, 2024 Coca-Cola HBC AG has raised its guidance after the company reported another strong six months of growth, despite currency headwinds eating into the group’s profits in emerging markets. The bottling giant behind Coca Cola and other major soft drinks reported revenue growth of 3.1 per cent in the six months to 24 June. Sales of [...]
Are you really better off investing in Manchester property over London? August 7, 2024 It seems a universal truism that Londoners will complain about house prices in the capital, and grumble about not having invested twenty years ago (even when they’re barely mid-twenties themselves). It is true that the housing market is London would have been a brilliant investment in the year 2000: prices have risen by more than [...]
Uber reports better-than-expected results as food delivery drives growth August 6, 2024 Uber reported stronger-than-expected second quarter results on expansion in its core business and increased orders for food and trips via membership subscribers. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) at the NYSE-listed company grew by 71 per cent year-on-year to $1.6bn (£1.3bn) in the quarter ended June 30. Monthly active consumers of Uber [...]
Domino’s Pizza shares slump despite buyback as company lowers guidance August 6, 2024 Domino’s has reported a strong second quarter boosted by the Euro 2024 championship, as the fast-food giant announced a share buyback programme of £20m. However, the firm has also warned about future prospects. In a statement this morning, the company said that it expected earnings to fall at the lower end of its guidance for [...]
Zalando: Online fashion giant reports strong growth after push into AI August 6, 2024 Online shopping giant Zalando reported strong growth in the second quarter as it leaned into artificial intelligence (AI) in search of a bigger share of the e-commerce fashion and lifestyle market. Adjusted earnings before interest and taxes (EBIT) rose to €171.6m (£147.3m), an 18 per cent rise from £144.8m year on year in the second [...]
Ramsdens: Pawnbroker ups guidance on high gold price August 6, 2024 Pawnbroker Ramsdens reported good trading momentum in its third quarter, with profit before tax expected to come in ahead of expectations, mainly thanks to higher gold prices. The company said it expected profit to rise eight per cent this year, from £10.1m in 2023 to £11m. Revenue was helped by the high gold price, which [...]