LONDON: Britain’s economy expanded by a stronger-than-expected 0.3% in the second quarter, preliminary data from the Office for National Statistics (ONS) showed on Thursday, as resilient services activity offset weakness in production and lingering trade uncertainty. Economists polled by Reuters had forecast a modest 0.1% rise in gross domestic product (GDP) for the April-June period,…
Stocks climb as Fed rate cut bets push indexes to record highs
Dow Jones jumps 409 points as rate cut bets fuel market surge NEW YORK: U.S. stocks rose Wednesday, extending their recent rally as growing expectations for a Federal Reserve rate cut in September propelled major indexes to fresh record highs. The Dow Jones Industrial Average jumped 409 points, or 0.9%, while the S&P 500 added…
Tencent Q2 earnings surge on gaming and AI investments
Chinese tech giant posted revenue of 184.504 billion yuan ($25.7 billion) for the quarter SHENZHEN: Tencent Holdings Ltd. on Wednesday reported a 15% rise in second-quarter revenue, driven by robust growth in its gaming division and strategic investments in artificial intelligence. The Chinese tech giant posted revenue of 184.504 billion yuan ($25.7 billion) for the…
Balfour Beatty half-year earnings rise on strong UK performance, order book hits £19.5 billion
Underlying profit from operations held steady at £77 million LONDON: Balfour Beatty Plc (BALF.L) reported a 7% rise in profit from its earnings-based businesses for the half year ended June 27, 2025, driven by robust UK operations and a growing order book that now stands at £19.5 billion. The infrastructure group said it remains on…
Hill & Smith posts record H1 profit, launches £100 million buyback amid strong us demand
Provider of infrastructure resilience solutions posted an 11% rise in underlying operating profit to £73.5 million LONDON: Hill & Smith PLC (HILS.L) reported record first-half results on Wednesday, buoyed by robust demand in its US infrastructure markets and improved profitability in the UK, prompting the company to announce a £100 million share buyback. “We have…
Persimmon reports strong H1 growth amid market challenges
For six months, the UK homebuilder completed 4,605 new homes, up 4%, while average sales price rose 8% to £284,047 LONDON: Persimmon Plc reported a resilient performance for the first half of 2025, with growth across key financial and operational metrics despite ongoing affordability constraints and geopolitical uncertainty. For the six months ended June 30,…
Winking Studios reports 27% revenue growth in 1H2025
Company expands global footprint with largest acquisition to date SINGAPORE: Winking Studios Limited (AIM / SGX: WKS), a leading global AAA game art outsourcing and development company, reported a 27.3% year-on-year revenue increase to US$19.4 million for the six months ended June 30, 2025, driven by resilient demand and strategic expansion. Gross profit rose 38.2%…
Commonwealth Bank of Australia reports strong full-year results, raises dividend
Company posted net profit after tax of $10.116 billion, an 8% increase from the prior year SYDNEY: Commonwealth Bank of Australia (CBA) announced strong financial results for the full year ended June 30, 2025, with an 8% increase in profit after tax. The bank also declared a final dividend of $2.60 per share, fully franked,…
AGL Energy reports FY25 loss, restructures for transition
Company’s underlying net profit after tax was $640 million, a decrease of 21% SYDNEY: AGL Energy Ltd. (AGL) announced a statutory loss of $98 million for the twelve months ending June 30, 2025, a result influenced by significant items totaling $596 million, including an increase in onerous contracts and costs for a retail transformation. The…
CLS Holdings reports half-year 2025 results amid strategic reshaping and leasing momentum
LONDON: CLS Holdings PLC (LSE: CLI), a leading office space specialist with a £1.75 billion portfolio across the UK, Germany, and France, announced its half-year financial results for the six months ended June 30, 2025, highlighting strategic progress in lettings, asset sales, and refinancing. The Group reported a net rental income of £53.3 million, down…
Beazley Plc reports first-half profit decline amid strategic growth
Company posted a profit before tax of $502.5 million for the first half of 2025, a 31% decrease LONDON: Beazley plc, the specialist insurance company, announced Wednesday a profit before tax of $502.5 million for the first half of 2025, a 31% decrease from the $728.9 million reported in the same period last year. The…
Bravura Solutions posts strong FY25 results, declares $21.1 million in dividends
The software provider posted underlying revenue of A$256.8 million, up 3.1% SYDNEY: Bravura Solutions Limited (ASX:BVS) reported a sharp rise in earnings for the fiscal year ended June 30, 2025, driven by recurring revenue growth and a one-off licence sale to Fidelity International. The software provider posted underlying revenue of A$256.8 million, up 3.1% year…