London Stock Exchange Boss Says IPOs On The Way As Shein And Raspberry Pi Ready Floats

There's so much happening in the world of business that it can be hard to keep up. That's the motivation behind my weekly Brave Bold Brilliant ? business news, to keep you informed of what’s happening globally? – the movers, the shakers, the ones to watch and so much more!

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GENERAL?

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London Stock Exchange boss says IPOs on the way as SHEIN and Raspberry Pi ready floats - City grandees are talking up a potential rebound for the beleaguered London Stock Exchange this year as fast fashion giant Shein and computer firm Raspberry Pi reportedly plot bumper listings in the capital. The two big-ticket listings would come as a much-needed boost for London’s struggling stock market, which has been hit by a dearth of IPOs, heavy investor outflows and an exodus of firms delisting or being taken private.

ON THE UP?

Britvic plc , the brand behind UK Pepsi distribution cheers bumper growth as canned Lipton Ice Tea booms - Britvic has reported a strong six months thanks to the strength of Lipton Ice Tea, with the canned version’s launch bumping the brand’s revenue up 27.6%.?The British soft drink manufacturer reported a revenue jump 11.2% over the last six months, with profit after tax rising 10.1%.?Revenue growth was especially strong outside the UK, with new market Brazil increasing 34.7%

Experian results reflect strong consumer spending and mortgage demand drive solid growth - In the company’s results for the year to 31 March 2024, Experian said total revenue growth from ongoing activities was 8% at actual exchange rates and 7% at constant exchange rates. Organic revenue growth was 6% and the company generated $1.9bn (￡1.5bn) of operating cash flow thanks to strong profit margins.

Vodafone turnaround shows progress as it sweats on Three UK merger decision - Vodafone’s turnaround efforts are showing signs of success after it posted growth across all of its markets in Europe and Africa in full year results, as it continues to await a decision from the regulator on its potential merger with Three UK.?The telecoms giant reported an increase in group service revenue of 6.3% in 2024 to €29.9bn (￡25.7bn). Full year adjusted EBITDAaL (earnings before interest, taxes, depreciation, amortization, and adjusted loss) was €11bn (￡9.5bn), slightly above a forecast based on the average consensus of 10 analysts. In 2025 it expects around the same number.

Currys plc shares soar to 14-month high after electrical retailer raises profit guidance - Currys has raised its earnings guidance for the last financial year, expecting a smaller dip in profit compared to the previous year as it enjoyed a return to sales growth in 2024.?The FTSE 250 electrical retailer’s shares soared as much as 9% in early trading on Tuesday to their highest level since last March following the news.?The firm said in a trading update that it expected its adjusted pretax profit for the year ending on 27 April to come in at between ￡115m and ￡120m, up from a previously guided range of ￡105m to ￡115m.

On the Beach labelled ‘cash machine’ following Ryanair partnership -?The group issued its first dividend since the pandemic.?The company has reported revenue growth of 11% in the last six months thanks, in part, to its partnership with low-cost carrier Ryanair - Europe's Favourite Airline .?The Manchester-based travel agent and Ryanair, which had been at loggerheads over cancellation refunds, entered a partnership earlier this year.

Greggs reports bumper sales growth as consumers snap up iced drinks - Greggs shrugged off the wet weather in the first few months of the year to report sales growth of 7.4%.?The baker booked ￡693m in sales for the first 19 weeks of the year, compared to ￡609m at this point last year. It credited “delivery sales, evening trade and increased participation in the Greggs App” for the bump in transactions. The fast food joint also announced it had reached a landmark of 2,500 shops for the first time.

Superdrug to open 25 new stores this year - Superdrug celebrates its 60th year on the UK high street. The expansion of the store estate is expected to create over 500 jobs nationwide. The move means that Superdrug will be launching some of its biggest ever stores throughout the year. This will include three best-in-class shops opening soon at St David’s in Cardiff, Bluewater Shopping Centre and Westfield Stratford City.

IN THE DOLDRUMS

Ray-Ban owner blames wet British summer for slower sales - “One of the wettest summers in recent history” dimmed the rise in sales at the owner of Ray-Ban in 2023, it has been revealed. The UK arm of Luxottica Group said that while its optical division had seen “continued good performance” in the year, its sunglasses business was impacted by the British weather. Newly-filed accounts with Companies House show that the company’s turnover increased from ￡165m to ￡168.1m in the 12 months while its pre-tax profits fell from ￡9.8m to ￡7.4m over the same period.

Burberry profit plunges 36% to ￡418m amid ‘challenging’ luxury market - It is grappling with a challenging economic environment amid its strategic repositioning efforts.?The luxury fashion retailer said its like-for-like sales fell 12% in the final quarter, wiping out gains made earlier in the year. While revenue was also down by 4% to ￡2.9bn.?

Converse cuts jobs as part of parent 耐克 ’s cost-savings plan -?Nike is undergoing a $2bn cost-cutting plan that includes slashing 2% of its workforce. Layoffs have hit its Oregon headquarters across two rounds, with the process expected to conclude by the end of its fiscal year.

Thames Water investors to quit boards amid spectre of bailout - Representatives of Thames Water's multinational syndicate of shareholders are poised to quit as directors of its corporate entities after refusing to inject the billions of pounds of funding required to bail it out. A?number of board members at companies connected to Kemble Water Finance, Thames's parent, are expected to resign in the coming days.

英国电信集团 slump in profit after tax plummets by 55% -?The British telecoms firm wrote down a significant chunk of its business, wiping ￡488m off the company’s value. While revenue for the group remained stable, at ￡20.8bn compared to ￡20.7bn in the year before, profit before tax fell 31%. In BT Group’s full-year results to 31 March, it included a significant non-cash impairment of goodwill, which, along with increased depreciation, amortisation and pension interest expense, pushed down profit.

Sage Group tumbles as growth was good but not good enough for the City - Shares were down over 10% to 1,070p. The stock had risen almost 50% over the past year and recently hit an all-time high of 1,285p.?Results for the six months to end-March showed underlying revenue grew 10% to ￡1.15bn. Organic growth of 9% was just shy of the consensus 9.5% forecast and recurring revenue growth of 11% was in line with expectations.

ONES TO WATCH

Virgin Money faces potential shareholder revolt over ￡2.9bn Nationwide deal - Virgin Money shareholders could be getting a better deal as part of a ￡2.9bn takeover bid from Nationwide, analysts have said, ahead of a crucial vote on the offer next week.?The two lenders agreed to an all-cash takeover in March, which stands to be the biggest UK banking merger since the financial crisis and create the country’s second-largest provider of mortgages and savings.?The building society’s offer must now be approved by at least 75% of Virgin Money’s shareholders.?

Diamonds aren’t forever as Anglo American to sell De Beers as part of strategy to ‘unlock significant value’ - Anglo American has set out what it has called a “clear, compelling and decisive plan” to unlock shareholder value – which will include selling off diamond business De Beers Group . The update followed yet another approach from peer BHP. The Australian group said it had offered ￡34bn to acquire its smaller, London-listed peer, or around ￡27.53 per share. That was up from approximately ￡25 per share in last month’s original offer.

Boots UK owner reignites ￡7bn sale plan - Walgreens Boots Alliance is working with consultants to begin talks with interested parties.?The US giant is believed to be seeking ￡7bn for the high street retailer, which has 2,200 stores in Britain and employs around 55,000 people.

Pret A Manger owner explores move away from sandwiches as consumer brands struggle - Pret A Manger’s owner is looking to make a major move into insurance after a tough trading period for its food and drink business. JAB HOLDING COMPANY LLC , which also owns Krispy Kreme doughnuts, has outlined plans to launch a global insurance platform and create an asset management business. The group has brought in veteran US insurance executive Anant Bhalla as senior partner and chief investment officer to oversee the move.

Royal Mail owner poised to accept ￡3.5bn takeover bid - It's poised to accept an improved takeover bid worth about ￡3.5bn from shareholder and Czech billionaire Daniel Kretinsky. International Distribution Services (IDS) said it had received a revised proposal of 370p a share from Mr Kretinsky's EP Group. It marks an improvement on the initial 320p-a-share cash bid made in April for the shares in IDS that it does not already own.

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