Vescent, a company that develops and manufactures quantum technology solutions, has secured $5 million in Series Seed funding from Corporate Fuel and Caruso Ventures. The funding will help Vescent accelerate its new product development, scale up its manufacturing capacity, and expand its market reach. Vescent’s products include Frequency Combs, Lasers, and Controls for various quantum…
Entain reports strong results for 2023 and announces strategic priorities
LONDON: Entain plc, the global sports betting and gaming group, announced its results for the year ended 31 December 2023, showing a 14% increase in net gaming revenue and a 1% increase in EBITDA. The group also announced its revised strategic priorities, focusing on driving organic growth, expanding online margins, and increasing US market share….
ITV reports resilient results despite ad slump
LONDON: ITV Plc, the UK’s largest commercial broadcaster, announced its full year results for 2023, showing a robust financial performance despite a challenging advertising market. The company saw a 2% drop in total revenue and a 32% fall in adjusted EBITA, but also achieved record revenues in ITV Studios and 19% growth in digital revenues….
Permanent TSB Group reports strong profits and capital position for 2023
LONDON: Permanent TSB Group Holdings plc (PTSB), one of the leading retail banks in Ireland, announced its annual results for the year ended 31 December 2023, showing a significant improvement in its profitability, capital and market share. The bank reported an underlying profit before tax of €166 million, up from €45 million in 2022, and…
Aviva Plc reports 9% increase in operating profit to £1.46 billion in 2023
LONDON, UK: Aviva Plc, the UK’s largest insurer, announced its 2023 annual results on Thursday, showing a 9% increase in group operating profit to £1,467m and a 12% increase in solvency II operating own funds generation to £1,729m. The company also declared a final dividend of 22.3 pence per share, up 8% from the previous…
Duke Capital exits Fabrikat with 36% IRR and equity gain
LONDON, UK: Duke Capital Limited, a leading provider of hybrid capital solutions for SMEs, has announced the successful exit of its investment in Fabrikat, a UK manufacturer of street lighting columns and guard rails. The exit delivers an internal rate of return (IRR) of 36% for Duke, with the possibility of further gains from deferred…
Harbour Energy reports 2023 results
LONDON: Harbour Energy plc, an independent oil and gas company, today announced its results for the year ended 31 December 2023 and provided an update on its outlook and acquisition plans. Harbour financial highlights The company reported a production of 186 kboepd, within guidance, and operating costs of $16/boe, in line with guidance, for 2023….
Hansard Global reports 32% rise in profit amid higher fees and interest rates
LONDON, UK: Hansard Global plc, the specialist long-term savings provider, announced its results for the six months ended 31 December 2023, showing a 32% increase in profit before tax to £4.1m, compared to £3.1m in the same period last year. Hansard Global attributed the improved performance to higher fee income, especially from its international business,…
ORR approves new Grand Union Trains Services between London and Stirling
The latest access decision by the Office of Rail and Road (ORR) provides more services for rail passengers travelling between London and central Scotland. LONDON: ORR has given the go-ahead for Grand Union Trains, an open access operator, to start a new train service between London and the city of Stirling, from June 2025. ORR’s…
HSS Hire Group to sell ABird Limited and APEX Generators Limited for £23.25 million
LONDON, UK: HSS Hire Group has entered into an unconditional agreement to sell ABird Limited and APEX Generators Limited, the Group’s power solution providers, to CES Global for an enterprise value of £23.25 million. The cash proceeds from the disposal will further strengthen the Group’s balance sheet, a company announcement on London Stock Exchange noted….
Nationwide Building Society to buy Virgin Money for £2.9 billion in cash
LONDON, UK: Nationwide Building Society has agreed to acquire Virgin Money UK PLC for £2.9 billion in cash, in a deal that would create the UK’s second largest mortgage and savings provider. Virgin Money shareholders would receive 220 pence per share, including a dividend of 2 pence, which is a 38% premium to the market…
Envipco reports record revenues and profits in Q4 23, driven by European expansion
OSLO: Envipco, a global leader in recycling systems and reverse vending machines, announced its Q4 23 results on Thursday, March 7, 2024, showing a remarkable growth in revenues and profits, mainly due to its successful expansion in Europe. The company reported a 165% year-on-year increase in group revenues to EUR 35.4 million, with Europe accounting…