Morrison (Wm) Supermarkets (MRW) heralded its best sales growth in almost a decade as customers flocked to snap up British produce. Defying retail gloom and threats posed by budget German rivals Lidl and Aldi, the supermarket smashed expectations in the six months to August 5 in a transformation led by chief executive David Potts. Former shop assistant Potts, 61, put the strong figures down to demand for its British products, which make up two-thirds of Morrisons’ sales.
Anglo American (AAL) – Jewellery lovers aged under 40 are the biggest buyers of diamonds, according to the world’s top seller of the gems. They accounted for two-thirds of global diamond jewellery sales in 2017, De Beers’ annual report into the industry shows. That means they spent more than £40billion on diamonds, out of a total of £62bn.
The World Cup football tournament helped gambling giant GVC Holdings (GVC) enjoy an 8% rise in sales in the six months to 30 June. The group, which owns Ladbrokes Coral, saw operating profits rise 17 per cent to £278million over the period. Pre-tax profits stood at £113.6million by the end of June, against a loss of £22.8million a year earlier.
Morrison (Wm) Supermarkets (MRW) is dishing out £91million to its shareholders after seeing sales in the second quarter rise to a nine-year high. Investors in the supermarket will be receiving an additional special interim dividend boosted by 2p, or 132%, of 3.85p a share. This is more than double what the supermarket paid its investors at the same point a year ago
Creo Medical Group (CREO) motored 21p higher to 188.5p after the medical device company yesterday announced the successful first use of its Speedboat endoscopic advanced energy device in patients in South Africa. It allows doctors to carry out surgical procedures without puncturing the skin. Craig Gulliford, Creo’s chief executive, said: ‘The use of Speedboat in procedures and in a setting outside the UK is a key step in the commercialisation of our technology.’
Shares in Debenhams (DEB) tanked after Mike Ashley, the billionaire owner of , dashed hopes that he is preparing a takeover bid. Soaring costs, squeezed household incomes and the shift towards online shopping have hit sales at most retailers, forcing department stores chain Debenhams to issue a string of profit warnings this year. Debenhams’ plight wasn’t helped by John Lewis reporting a 99 per cent plunge in half-year profits. Marks & Spencer Group (MKS) was dragged lower too, with the food-and-clothes retailer dropping 2.1%, or 6.1p, to 287.2p, having climbed on Wednesday on the back of Zara’s solid start to autumn trading.
Metals prices picked up on news that President Trump and his team had reached out to China to schedule more trade talks between the two superpowers. De Beers owner Anglo American (AAL), which mines everything from iron ore to diamonds, topped the Footsie, rising 24.6p, to 1510.6p, although Chilean copper miner Antofagasta (ANTO) wasn’t far behind, up 13.2p, to 772p, helped by a reported upgrade in rating from HSBC.
Heading lower were UK tobacco stocks, which went up in smoke as market watchers took in news that US regulators are looking to clamp down on some of their vaping products. Among those on the end of the tongue-lashing were British American Tobacco (BATS), owner of the Vuse e-cig brand, and Imperial Brands (IMB), which is the company behind Blu.
Attraqt Group (ATQT) was en vogue after it won a £640,000 contract with an unnamed British luxury brand. It caps off a lucrative couple of months for the software group, which announced two other deals worth £1.2million in July.
Investors put Malvern International (MLVN) in detention after another six months of losses. Improvements in London and Singapore offset a decline in Malaysia, pushing revenue for the six months to June up to £2.61million from £1.65million a year ago. But it still posted a loss of £370,000.
