Author: Scott Dylan

Petershill Partners has declared a special dividend of 9 cents (7p) per share following a series of successful deals and a lucrative asset-raising round, signalling a robust return to growth.Backed by Goldman Sachs and listed on the London Stock Exchange for the past three years, Petershill Partners reported an income increase to $146m (£111m) for the half-year ending on June 30, up from $138m (£105m) in the previous year. The firm achieved an adjusted profit after tax of $94m (£71m), rising from $68m (£51m). This contributed to an adjusted earnings per share of 8.5 cents for the first half of…

Exeter City Football Club has officially appointed Joe Gorman as the new Chief Executive, a role in which he will be responsible for steering the club’s strategic direction and overseeing its operational management.Joe Gorman joined the EFL League One side as its finance chief in October of the previous year, and he will be succeeding Jeremy Tipper, who served as the interim chief executive. Gorman’s responsibilities will include the oversight of business functions such as finance, marketing, and human resources. Additionally, he will collaborate closely with the board to develop long-term strategic plans.Nick Hawker, Chair of the Exeter City Supporters’…

The UK operator of Accor’s Novotel, Pullman, and Mercure brands demonstrated a strong return to profitability in 2023, with the Ibis division showing particularly notable gains according to recent financial filings.Recently published results indicate substantial growth in both turnover and profit for Accor UK’s Business & Leisure Hotels and Economy Hotels divisions. Specifically, the filings reveal increased occupancy rates and revenue per room over the last year.The Accor UK Business & Leisure Hotels division, which manages Novotel, Pullman, and Mercure brands, reported a significant increase in turnover, rising from £239.5 million to £282.3 million. This division also transitioned to a…

Amazon has announced its decision to require employees to return to the office five days a week starting January 2, 2024, marking an end to pandemic-era remote work policies.This move will see the cessation of hot-desking practices in favour of allocated individual desks, alongside a reduction in management layers to streamline operations and minimise unnecessary meetings. This decision underscores Amazon’s belief that in-person work fosters superior collaboration, learning, and company culture.Previously, Amazon required employees to be in the office at least three times a week, contingent on team requirements. Under the new policy, remote work will be allowed only under…

Marcegaglia Stainless Sheffield has announced a substantial investment of £50 million in a new Electric Arc Furnace (EAF), a move set to dramatically boost production capabilities and foster job creation within the region.The state-of-the-art EAF, expected to be operational by mid-2026, will significantly enhance the plant’s productivity. This upgrade will increase the annual capacity to over 500,000 tonnes of stainless steel products. Crucially, the new furnace will supplant the existing one, which has been in service since 1977 and has been pivotal in producing stainless steel by recycling scrap steel.This investment is not merely about expanding capacity. It represents a…

Wilshire-based renewable electricity supplier Good Energy has stated it is “well placed for growth” despite a significant decrease in half-year profits.Good Energy has experienced a 28% drop in gross profit, falling to £23.6 million for the six months ending June 2024, compared to £32.7 million during the same period the previous year. This decline is attributed to the normalisation of the energy market. Nevertheless, the company’s gross margin has increased from 20.9% in 2023 to 24.3%. Revenues decreased to £97.4 million from £156.1 million in the first half of the previous year, mirroring the reductions in wholesale costs since early…

Property group Henry Boot PLC is observing an improvement in its key markets, despite a notable fall in both revenues and profits for the first half of 2024.The Sheffield-based company reported a decline in revenues from £179.8 million in the same period last year to £106 million. Operating profit was also significantly reduced from £25.7 million to £5.9 million. Despite these figures, Henry Boot completed and exchanged on land and property sales worth over £150 million. However, a lower starting forward sales position resulted in the observed decline in revenues and profits.Chief Executive Officer Tim Roberts stated, “During the first…

Yorkshire-based development company Harworth Group has announced its entry into the FTSE250, marking a significant milestone in its growth trajectory.The Rotherham-based company achieved this recognition following a week in which it reported a substantial increase in its operating profit, which more than doubled to £21.1 million over the past six months. Since its re-listing on the London Stock Exchange in 2015, Harworth has grown its statutory net assets by 137% and achieved an average annual total accounting return of 10%.Chief Executive Lynda Shillaw remarked, “Entering the FTSE 250 is a significant milestone for Harworth, it’s a testament to the dedication…

A significant property transaction has transpired in Warwickshire, where a retail park spanning 159,000 square feet has been acquired for £58 million. The site hosts several prominent tenants, including M&S, Boots, Next, TK Maxx, and Halfords.Meanwhile, a Walsall teenager has been apprehended in connection with a cyber-attack that caused extensive disruption to TfL’s operations. This incident has stirred considerable concern among stakeholders and the public.In Coventry, a strategic acquisition of 500 plots marks a substantial development in the region’s mega-development plans. This move is poised to have a far-reaching impact on local infrastructure and housing availability.Additionally, a major manufacturing entity…

A significant transaction has taken place in Warwickshire, where a retail park valued at £58 million has been acquired. The 159,000 sq ft property features prominent tenants, including M&S, Boots, Next, TK Maxx, and Halfords.In a notable acquisition within the property sector, a Warwickshire retail park, spanning 159,000 square feet, has been purchased for a total of £58 million. The site, strategically located for both consumers and retailers, boasts a variety of well-known tenants, such as M&S, Boots, Next, TK Maxx, and Halfords.This acquisition represents a substantial investment in the region’s commercial infrastructure, highlighting the ongoing confidence in the retail…