Double digit growth in gross profit Cash conversion misses target The seemingly permanent shift towards flexible working has sustained customer demand at Bytes Technology Group (BYIT), as has heightened awareness of cyber attacks. The software, security and cloud services business reported a 19 per cent increase in gross invoiced income …
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Concerted efforts to improve efficiency Weakened demand International Distributions Services (IDS) published its full-year results last week. As expected, they didn’t make for easy reading. The group reported a £748mn operating loss, down from a £577mn profit the previous year. A robust performance from European courier GLS did little to …
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Group-wide loss of £748mn £539mn hit to carrying value Royal Mail has reported an operating loss of over £1bn, after 12 months of strikes and inflationary pressures. International Distributions Services (IDS) as a whole – which also includes profitable European courier GLS – incurred a loss of £748mn. UK operations …
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The chief executive of Royal Mail, Simon Thompson, is to resign after a tumultuous period of industrial action. The courier said it was in advanced stages of appointing a new chief executive, and Thompson had agreed to remain with the business until 31 October 2023 as part of the transition. Thompson said he …
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No compulsory redundancies Results of vote to be announced in June Posties have been encouraged to accept a deal that will see Royal Mail increase their pay by 10 per cent over three years and share any operating profits until 2025. The Communication Workers Union (CWU) said members need to “back …
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News has emerged that Endeavor Group Holdings (US:EDR) is buying a majority stake in World Wrestling Entertainment (US:WWE) in a bid to create a $21.4bn (£17.5bn) business. Endeavor (formerly known as William Morris Endeavor and WME-IMG) already owns the Ultimate Fighting Championship and will hold a 51 per cent controlling …
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Farm-out of 50 per share in Greater Buchan Area (GBA) licenses Plan to target additional farm-out to retain a fully carried 20-25 per cent stake in project UK North Sea-focused upstream oil and gas company Jersey Oil & Gas (JOG:277p) has announced a farm-out of its GBA licenses to NEO, a major …
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Stocks in Europe rose in early trading on Thursday ahead of the Good Friday holiday and are on track to just about rise for the week. The FTSE 100 was just below 7,700, up around 0.5 per cent, while the DAX traded a little above 15,500, some 0.2 per cent …
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UBS says buyout of Credit Suisse is an “emergency rescue” Credit Suisse’s share price had plummeted, with market indicators pointing to collapse or resolution European and UK bank stocks slumped again on Monday morning after the weekend deal by the Swiss National Bank to fold Credit Suisse (US:CS) into UBS …
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Interim pre-tax profit falls 54 per cent to £4.3mn on flat revenue of £63.1mn Lower production in PGM and copper operations due to power and water supply issues Copper production guidance cut due to delayed ramp-up of Roan Concentrator Below par interim results from Jubilee Metals (JLP: 7.4p), an Aim-traded mining …
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