The company behind plans for a giant fertiliser mine under the North York Moors hopes to rescue the struggling project by raising $600m (£465m) from new investors by March. Sirius Minerals (SXX) has revised plans to finance the world’s largest potash mine of its type after the $5bn project was thrown into doubt in September when it abandoned a bond issue, blaming a lack of government support and Brexit uncertainty. The London-listed company said on Monday it was already in talks with potential investors to fund the first phase of the project’s development. The funds could provide an 11th-hour lifeline for what could prove to be the largest mine developed in the UK for a generation.
Greggs (GRG) has raised its profit guidance for the fourth time this year as the bakery chain continues to buck the high street slowdown. The company’s shares rose by more than 15% after reporting that total sales for the six weeks to 9 November were up 12.4%. The firm, which has more than 2,000 stores across the UK, has thrived despite the malaise afflicting many businesses. Sales in 2018 exceeded £1bn for the first time and the successful launch of its Quorn-filled vegan sausage roll has underpinned another strong year. Greggs’s market value has surged by about three quarters in the past 12 months. “Sales growth continues to be driven by increased customer visits and has been stronger than we had expected,” said Greggs in a trading update on Monday. “The board now anticipates that full-year underlying profit before tax will be higher than our previous expectations.”
