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Crest Nicholson craters as flat house prices, rising costs hit margins
Housebuilder Crest Nicholson reported strong sales growth for the first half of the year but profit margins are being squeezed by the softer housing market, sending its shares to 16-month lows.
SSP profit up 40% in first half as air passenger numbers grow
Food and beverage outlets operator SSP posted a jump in first-half profit and revenue on Wednesday as it reaped the benefits of growing air passenger numbers, new contract openings across the world and its ongoing programme of operational improvements.
Brewin Dolphin profit rises as discretionary funds, net inflows grow
Wealth manager Brewin Dolphin posted a 20% jump in interim pre-tax profit on Wednesday as discretionary funds and net inflows grew.
Coats threads together solid start to 2018
Thread maker Coats said group sales in the quarter to April 30 for the period grew 5% year-on-year on a constant currency basis, driven by a strong performance in its industrial business, which rose 6%.
London open: Stocks edge up despite geopolitical concerns as Micro Focus, Burberry gain
London stocks edged higher in early trade on Wednesday, with solid updates from the likes of Micro Focus and Burberry and deal news for Paddy Power helping to offset geopolitical worries.
Diageo launches $2bn bond transaction overnight
Diageo has launched and priced an SEC-registered $2bn bond transaction, it announced on Wednesday morning.
Playtech takes steps to protect Asia gaming arm
Playtech said business-to-business gaming revenues had mostly improved in recent months though it was having to take steps to protect its position in Asia as revenues were hit by strong competition.
Black Panther, Avengers help boost Cineworld revenues
The box office blockbuster movies "Black Panther" and "Avengers: Infinity War" helped boost revenue at Cineworld by 6. 7% in the five months to May 13.
Micro Focus flags better-than-expected revenues in first half
Software group Micro Focus International updated the market on its trading performance for the six months ended 30 April on Wednesday, saying it expected to report revenues better than the management guidance of -9% to -12% on a constant currency basis, compared to the proforma six months ended 30 April 2017.
Paddy Power confirms talks with FanDuel over US merger
Paddy Power Betfair confirmed it is in talks over a potential merger of its US business and US-based FanDuel to target the US sports betting market.
London pre-open: Stocks seen muted after downbeat US session
London stocks were set for a muted open on Wednesday following a downbeat session in the US amid rising interest rate expectations, and as North Korea suspended talks with South Korea.
Mondi sees Q1 operating profits up 15% yr-on-yr
Paper products maker Mondi said it expected first quarter underlying operating profit to be 15% higher year on year at €295m and 6% up on the fourth quarter of 2017.
Wednesday newspaper round-up: Carillion, Amazon, Thomson Reuters
Carillion collapsed as a result of “recklessness, hubris and greed” among directors who put their own financial rewards ahead of all other concerns, according to an excoriating report into the firm’s demise that spreads the blame between board members, the government, accountants and regulators. The company, which managed huge construction projects and provided government services ranging from school meals to prison maintenance and NHS cleaning, slumped into insolvency in January.