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.... The firm also set aside £7m to rectify build issues and, in a few cases, pay compensation after it emerged homeowners were pressured to move into incomplete homes before Christmas. It issued a profit warning in late December and its then-chief executive, David Ritchie, quit not long after. ... [Read full article on Guardian ]
Saturday 24th of June 2017 06:00:00 AM
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Latest Finance News related to Profit Warning

Frustrated homebuyers in a fight to the finish with Bovis image
Source : Guardian [Read Article] Saturday 24th of June 2017 06:00:00 AM
.... The firm also set aside £7m to rectify build issues and, in a few cases, pay compensation after it emerged homeowners were pressured to move into incomplete homes before Christmas. It issued a profit warning in late December and its then-chief executive, David Ritchie, quit not long after. ...
Morrisons' indignation over shareholder rebellion is misplaced | Nils Pratley image
.... But the general downturn in consumers’ mood tallies with what many retail bosses have been expecting for months. Do not be surprised if we see more profit warnings. ...
UK retail sales dive sparks biggest FTSE 250 fall since last summer image
Source : Guardian [Read Article] Thursday 15th of June 2017 10:13:53 AM
....”. The slump in retail sales, combined with the profit warning from sofa chain, has seen shares in the sector drop back sharply, with Next, Marks & Spencer and Kingfisher all down more than 3%. ...
DFS warns over profits in latest sign of UK spending squeeze image
Source : Guardian [Read Article] Thursday 15th of June 2017 09:32:26 AM
. A surprise profit warning from sofa chain DFS has sent shockwaves through the high street, as concerns grow that Britons’ spending power is being squeezed by higher living costs. ...
BT chief's pay package slashed by £4m over Italian accounting scandal image
.... BT’s European head, Corrado Sciolla, lost his job as a result of the controversy and was replaced by Luis Alvarez, who is also now leaving. The profit warning pointed to a sharp slowdown in sales to corporate and public service clients in the UK. ...
Pearson: two-thirds of shareholders reject pay package image
Source : BBC [Read Article] Friday 5th of May 2017 04:38:28 PM
....News of the pay award had drawn criticism from the Institute of Directors and a high pay campaign group. Long-suffering investors have seen Pearson's share price sink amid profit warnings about the health of its operation in the US. ...
FTSE 100 boosted by Pearson and IAG image
Source : BBC [Read Article] Friday 5th of May 2017 08:08:03 AM
....The US business has proved problematic recently as students have been renting textbooks instead of buying them. As a result, Pearson has issued five profit warnings in four years. ...
KPMG's audits of Rolls-Royce accounts probed by regulator image
Source : BBC [Read Article] Thursday 4th of May 2017 08:31:07 AM
....Often described as "a jewel in the UK's industrial crown", Rolls-Royce makes engines for military and civil planes, as well as for trains, ships, nuclear submarines and power stations. But in addition to the corruption claims, the company has been hit by a string of profit warnings that sparked a tumble in the share price in the past couple of years. ...
Apple’s addiction to iPhone shows no sign of waning image
Source : Guardian [Read Article] Sunday 30th of April 2017 06:00:21 AM
....6bn. Still, that didn’t stop Pearson awarding chief executive John Fallon – who has presided over five profit warnings since taking over from Marjorie Scardino in 2013 – a 20% increase in his total pay to £1. ...
Boohoo online fashion retailer sees its profits double image
Source : BBC [Read Article] Wednesday 26th of April 2017 06:17:43 AM
.... The Boohoo brand has achieved outstanding revenue growth and increased profitability margins during the year," said joint chief executives Mahmud Kamani and Carol Kane. Its only temporary misstep was a profit warning in 2015 that unnerved investors and sent its share price down by some 40% - something the online retailer has now put behind it. ...
Hornby directors defend chairman Roger Canham image
Source : BBC [Read Article] Tuesday 25th of April 2017 07:23:45 AM
....It revealed in 2016 that it planned to cut more than half of the toys it made after discovering that it generated 90% of its profits from only 50% of its range. This came after its shares fell by more than 50% early last year following a profit warning. ...
Now on sale: Jimmy Choo (the whole company) image
Source : Guardian [Read Article] Monday 24th of April 2017 08:25:28 AM
....“But Jimmy Choo needs to be careful not to get ahead of itself. Remember what happened to Mulberry, another niche British luxury brand, when it drifted too far from its comfort zone? One year sales were soaring, the next they were dropping amidst a spate of profit warnings. ...
Company profit warnings increase on previous quarter image
Source : BBC [Read Article] Sunday 23rd of April 2017 08:23:22 AM
. The number of profit warnings posted by publicly listed companies reached 75 in the first quarter of 2017, according to business consultants EY. ...
Sports Direct's £78m move into US retail stuns analysts image
Source : Guardian [Read Article] Friday 21st of April 2017 03:41:12 PM
.... This may be a step too far,” they said. Sports Direct issued a profit warning in December after a slide in sterling’s value made it more costly for the firm to source its branded goods from Asia. ...
Debenhams jobs at risk as stores close in 'social shopping' shakeup image
Source : Guardian [Read Article] Thursday 20th of April 2017 09:18:15 AM
....”. Bucher was brought into replace Michael Sharp in 2016 after shareholders pushed for a change at the top following a series of poor results and profit warnings. ...
Tesco to report a return to financial health image
Source : Guardian [Read Article] Sunday 9th of April 2017 04:14:41 PM
.... Last month Schroders and Artisan Partners, which between them own 9% of Tesco, revealed they had both written to the Tesco chairman, John Allan, to ask him to pull out of the deal. Lewis took the helm at Tesco in 2014 after a string of profit warnings under his predecessor, Philip Clarke. ...
Thousands of Tesco jobs at risk under plan to axe some night shifts image
Source : Guardian [Read Article] Wednesday 5th of April 2017 04:55:52 PM
.... Its sister chain John Lewis announced it was axing nearly 800 jobs in its customer restaurants and store administration. Lewis took the helm at Tesco after a string of profit warnings under his predecessor, Philip Clarke. ...
Bovis rejects Galliford Try bid – but hires rival's ex-boss as its new chief image
....Bovis is seeking to draw a line under its recent troubles by recruiting Fitzgerald, the highly regarded former chief executive and chairman of Gallliford, where he worked for more than 30 years. Bovis issued a shock profit warning in late December, prompting the departure of chief executive David Ritchie. ...
Apple exit sends UK chip firm's shares into freefall image
Source : Guardian [Read Article] Monday 3rd of April 2017 08:10:18 AM
....7m in licence fees and royalties from Apple last year, which is expected to rise to £65m in the year to 30 April. The struggling firm has been slashing costs, including the cutting of 350 jobs, and restructuring its business after a series of profit warnings. ...
Redrow walks away from Bovis takeover after offer is rejected image
Source : Guardian [Read Article] Tuesday 28th of March 2017 07:41:52 AM
....Redrow has walked away from buying Bovis Homes after deciding not to increase its takeover approach, clearing the field for rival housebuilder Galliford Try. Bovis, which is under pressure following severe criticism over the quality of its homes, a shock profit warning and the departure of its chief executive, confirmed on 12 March that it had received takeover approaches from Redrow and Galliford. ...
Redrow withdraws Bovis takeover offer image
Source : BBC [Read Article] Tuesday 28th of March 2017 07:36:53 AM
....Redrow added that its "strong land bank and disciplined approach to operations" had put it in a good position to continue to increase its profits. The chief executive of Bovis, David Ritchie, quit in early January after eight years in the job after the company issued a profit warning. ...
Pearson boss sees pay boost despite firm's struggles image
Source : BBC [Read Article] Friday 24th of March 2017 04:28:38 PM
....However, a slowdown in business from US college students has hampered growth. In January 2017, the firm was forced to lower its forecasts for this year in its fifth profit warning since Mr Fallon took over in 2013. ...
Bonus for Pearson chief despite biggest loss in company's history image
Source : Guardian [Read Article] Friday 24th of March 2017 03:30:57 PM
....”. In January almost £2bn was wiped from Pearson’s stock market value after it issued fifth profit warning in two years. ...
Sainsbury's takes inflation hit on the chin as Aldi and Lidl loom | Nils Pratley image
....In 2014, Balfour Beatty was deemed in some quarters to be such a mess that a takeover by rival Carillion would be an act of mercy. Balfour had issued umpteen profit warnings and Carillion, lobbying for an all-share deal, was regarded as the sector’s slickest operator. ...
Bovis shares continue to climb on two takeover offers image
Source : BBC [Read Article] Monday 13th of March 2017 10:02:33 AM
.... . Bovis also lacks a chief executive after David Ritchie stepped down in January after eight years in the role, weeks after issuing a profit warning. ...
Bovis in talks with rival builder Galliford Try after rejecting £1bn offer image
.... Its shares have underperformed the rest of the sector since last summer’s Brexit vote clouded the future for housebuilders. In January, the Bovis chief executive, David Ritchie, departed after the housebuilder took the City by surprise over Christmas with a profit warning. ...
Standup chancellor shuns sit-down with Tyrie image
Source : Guardian [Read Article] Sunday 12th of March 2017 07:00:17 AM
....Yet in those same years, rivals seemed to clear those hurdles, despite the results being the same for everyone. In reality, a Cheltenham profit warning tells you more about the health of the bookmaker than if favourites have won. ...
BT's £1.2bn Champions League splurge is price of staying in Sky game image
....In January, BT stunned investors by admitting that an accounting scandal at its Italian arm was much worse than first thought, triggering one of its biggest ever one-day share price falls and wiping £8bn off its shares. The Italian crisis, as well as the revelation of a significant slowdown in UK public sector work and orders from international companies, prompted BT’s first profit warning in almost a decade. ...
Snap IPO: a 21st-century firm with a 19th-century structure image
Source : Guardian [Read Article] Thursday 2nd of March 2017 07:36:11 PM
....If you are paid splendidly (Parker got £2. 7m in 2015) and you produce the first two profit warnings in a company’s 25-year history, you cannot grumble when the executioner calls. ...
Capita boss to quit amid profit fall image
Source : BBC [Read Article] Thursday 2nd of March 2017 08:19:35 AM
....He added that this year was likely to be one of transition, with Capita not expected to return to growth until 2018. In September last year, the firm issued a profit warning after delays in implementing new IT systems for the congestion charge. ...
Mitie sells home healthcare business for £2 image
Source : BBC [Read Article] Wednesday 1st of March 2017 09:35:09 AM
. Outsourcing firm Mitie, which has issued three profit warnings in the past year, is selling its home healthcare business for just £2. ...
William Hill's potential next CEO backs curbs on TV gambling adverts image
Source : Guardian [Read Article] Friday 24th of February 2017 05:53:03 PM
....“You could say that we are a little bit more corporate, but we try and be responsible about what we promote,” he said. Bowcock, the interim CEO after the departure of James Henderson last July following successive profit warnings, is among the favourites to be named chief executive, with a decision due within weeks. ...
Education publisher Pearson reports biggest loss in its history image
Source : Guardian [Read Article] Friday 24th of February 2017 08:17:21 AM
....6bn for 2016, the biggest in its history, after a slump at its US education operation. The world’s largest education publisher, which in January saw almost £2bn wiped from its stock market value after issuing its fifth profit warning in two years, reported the record loss after taking a £2. ...
BA owner IAG's profits hit by weak pound image
Source : BBC [Read Article] Friday 24th of February 2017 07:53:02 AM
....The airline group said it intended to carry out a share buyback of 500m euros during the course of 2017. IAG issued a profit warning after the Brexit referendum in June, and in October it warned that ticket prices might have to rise as a result of sterling's fall. ...
After the Italian job, BT boss must make sure success doesn’t blow up in his face image
.... BT’s share price fell by more than 20% on Tuesday, their biggest ever fall in a single day, after it revealed an accounting scandal in its Italian division had cost £530m and warned of a slowdown in business from the UK public sector and international corporations. As profit warnings go, it was a monster. ...
How buying a Bovis home came with hundreds of snags image
Source : Guardian [Read Article] Saturday 28th of January 2017 07:00:48 AM
....The company faced accusations that it was pressuring customers to move into unfinished homes before Christmas with the offer of cash incentives. Then, days before the new year, it issued a profit warning, and soon after chief executive David Ritchie quit. ...
BT insists Italian scandal is under control as profits plunge image
Source : Guardian [Read Article] Friday 27th of January 2017 09:54:01 AM
....Patterson would not be drawn on whether he felt he should take some accountability by giving back any bonus payments. BT’s remuneration committee has launched an investigation into whether leading executives, including Patterson, should have any bonus payments clawed back for missing targets after the company delivered profit warnings for the next two years. ...
Tesco to buy Budgens and Londis owner Booker in £3.7bn deal image
Source : Guardian [Read Article] Friday 27th of January 2017 07:18:45 AM
.... In the years since, the grocer has been battered by the discounters and by the move to online and convenience shopping. Leahy’s successor, Philip Clarke, was forced to step down after a series of profit warnings and the grocer was then engulfed in an accounting scandal that is still the subject of a Serious Fraud Office investigation. ...
Hard times for luxury Swiss watches as sales drop 10% image
Source : Guardian [Read Article] Thursday 26th of January 2017 06:48:05 PM
....”. Pegoraro said the drop in sales had forced several of Switzerland’s most famous watchmakers to issue profit warnings and cut about 3,000 jobs over the past two years. ...
BT shareholders will remember profit warning for years | Nils Pratley image
Source : Guardian [Read Article] Tuesday 24th of January 2017 05:47:06 PM
.... All the gains in the share price on Patterson’s three-year watch have evaporated with Tuesday’s 21% tumble. This profit warning will be remembered for years. ...
Banks are moving workers, inflation is up. Project Fear is coming true | Simon Jenkins image
.... Farmers have warned that without a deal on immigration and trade in food, they face a collapse of half their income. There is a growing catalogue of profit warnings from trade-reliant firms such as Pearson and Premier Foods. ...
Mr Kipling maker's shares in exceedingly sharp fall as profits sliced image
Source : Guardian [Read Article] Wednesday 18th of January 2017 03:09:46 PM
.... The company unveiled a cost cutting plan, which aims to save £10m in each of the next two years. Outsourcing firm Mitie also blamed Brexit-related issues on Wednesday as it issued its third profit warning since September. ...
Pearson profit warnings wipe almost £2bn off its value image
Source : Guardian [Read Article] Wednesday 18th of January 2017 09:30:18 AM
. Almost £2bn was wiped from the stock market value of Pearson after the beleaguered FTSE 100 company issued profit warnings for the next two years and said it would cut its payout to shareholders. ...
Parody-defying World Economic Forum must do better image
Source : Guardian [Read Article] Wednesday 11th of January 2017 07:33:53 PM
.... Perhaps it is time to revisit this thesis – not the charmless part, naturally, but the idea that Foxtons is as slick as supposed. The latest profit warning on Wednesday revealed how far Foxtons has fallen in these “subdued” times for the London property market. ...
Bovis accused of pressuring buyers to move into unfinished homes image
Source : Guardian [Read Article] Wednesday 11th of January 2017 07:00:13 AM
. Bovis Homes has been accused of pressuring customers to move into unfinished houses before Christmas by offering them cash incentives, a week before it issued a profit warning. ...
Volkswagen confirms $4.3bn payment over diesel emissions image
Source : Guardian [Read Article] Tuesday 10th of January 2017 11:08:24 PM
.... The carmaker is due to announce 2016 results on 14 March. Porsche SE, the main shareholder of VW, issued a profit warning after the VW news. ...
Majestic Wine sales up 7.5% over firm's 'biggest ever' Christmas period image
Source : Guardian [Read Article] Tuesday 10th of January 2017 01:53:14 PM
....4%. Analysts had feared Majestic would not achieve its expected sales growth of 6% after the company issued a profit warning in September because of a failed marketing campaign in the US and weak sales to business customers. ...
William Hill profits hit by 'customer friendly' results image
Source : BBC [Read Article] Monday 9th of January 2017 08:20:03 AM
...."The recent run of sporting results have not changed our confidence in a better performance in 2017," interim chief executive Philip Bowcock said. Its previous chief executive was ousted in July after a string of profit warnings. ...
Savings and pensions face festive boost as shares ‘bounce’ to an all-time high image
Source : Daily Express [Read Article] Wednesday 28th of December 2016 08:03:00 PM
....41 a barrel. But airlines and banks missed out on the festive rally, while a profit warning from Bovis Homes saw the housebuilder suffer share losses in the FTSE 250 Index. ...
Brexit, strikes and pay revolts: the year in business image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:00:27 AM
....Ruby McGregor-Smith stepped aside after a decade running outsourcing company Mitie. The company said she had doubled profits and revenues during her tenure – but the shine was taken off by a profit warning three weeks earlier that knocked 25% of the share price. ...
FTSE 100 extends gains to close up 1% image
Source : BBC [Read Article] Tuesday 13th of December 2016 09:15:09 AM
....In the FTSE 250, Paysafe Group fell 17% after it denied allegations from Spotlight Research that claimed the company was enabling both illegal gambling and Chinese capital control evasion. Shares in NCC Group dropped more than 7% after the cyber security firm issued a profit warning. ...
Capita capitalises on robots before new chair Powell powers in | Nils Pratley image
.... In the five months since Powell’s appointment was announced, Capita has blown its status as the star turn of the outsourcing sector. Thursday’s profit warning was the second in three months. ...
Capita shares dive to 10-year low after profit warning image
Source : Guardian [Read Article] Thursday 8th of December 2016 11:20:33 AM
. Shares in outsourcing group Capita have crashed to a 10-year low after the company issued a second profit warning in three months and said it would start to sell assets. ...
Capita shares plunge after profit warning image
Source : BBC [Read Article] Thursday 8th of December 2016 09:18:21 AM
. Shares in outsourcing group Capita have fallen more than 14% after the company issued another profit warning and said it would sell assets. ...
Carillion blames Whitehall upheaval after Brexit vote for orders fall image
Source : Guardian [Read Article] Wednesday 7th of December 2016 01:53:24 PM
....Carillion is the latest support services company to blame Brexit-related uncertainty for a slowdown in business. Mitie and Capita have issued profit warnings after customers delayed spending because of post-referendum jitters. ...
Daily Mail group refuses to rule out sale of newspaper titles image
Source : Guardian [Read Article] Thursday 1st of December 2016 10:05:25 AM
.... It has taken £55m in exceptional charges, £37m of which relates to organisational and headcount reduction costs. In May, DMGT issued a profit warning driven by a double-digit decline in its print advertising business in the first half. ...
Smoking crackdown in China burns hole in Essentra profits image
Source : Guardian [Read Article] Monday 21st of November 2016 01:13:22 PM
. A clampdown on smoking in China and problems with a big acquisition have prompted a second profit warning in four months from Essentra, the maker of packaging and cigarette filters. ...
FTSE 100 ends flat despite good gains for miners image
Source : BBC [Read Article] Monday 21st of November 2016 09:38:31 AM
....4%. In the FTSE 250, shares in outsourcing group Mitie were down nearly 10% after it issued a profit warning and reported a £100m half-year loss. ...
Mitie withdraws from healthcare as it issues second profit warning image
Source : Guardian [Read Article] Monday 21st of November 2016 09:37:09 AM
. Mitie has published its second profit warning in two months after the outsourcing company’s customers continued to reduce spending due to rising costs and economic uncertainty. ...
Mitie issues profit warning as it reports £100m loss image
Source : BBC [Read Article] Monday 21st of November 2016 08:59:39 AM
. Outsourcing firm Mitie has issued another profit warning as it faces fresh hits from economic uncertainty and rising staff costs. ...
Ed Balls enters stage left with decent idea on central bank independence image
Source : Guardian [Read Article] Thursday 17th of November 2016 07:42:37 PM
.... But have ministers had a look at the current chaos in EDF’s home market of France?. EDF has issued two profit warnings in three months, prompted by an order by the French nuclear safety regulator that tests be conducted on 18 of the company’s 58 reactors. ...
FTSE 100 climbs as retail sales beat forecasts and Anglo American rises image
Source : Guardian [Read Article] Thursday 17th of November 2016 09:57:36 AM
.... Yet visibility into next year and beyond is clouded by uncertainty over the impact of restructuring the business to refocus on organic growth, the impact of cost reduction and the likely cost of this as well as markets which continue to be tough, in our view. We have taken a further look at our estimates post the September profit warning and have determined that these were too optimistic given the November statement on restructuring (in particular for 2017). ...
Rolls-Royce says cost cuts will be at top of target range image
Source : Guardian [Read Article] Wednesday 16th of November 2016 12:10:37 PM
. Rolls-Royce has said annual cost cuts will be at the top of its target range and it is increasingly looking to the future after a string of profit warnings. ...
Rolls-Royce increases cost-saving plans image
Source : BBC [Read Article] Wednesday 16th of November 2016 11:43:06 AM
.... George Salmon, equity analyst at Hargreaves Lansdown, said that would result in last year's profits being restated and adjusted down by £900m. "Five profit warnings in the 20 months up to November 2015 means Rolls-Royce shareholders have had anything but a smooth ride recently," he said. ...
Carney back to face the Conservatives image
Source : Guardian [Read Article] Sunday 13th of November 2016 07:00:12 AM
.... But things have got gloomier this year. The shares lost a quarter of their value in one day in September when Gormley unveiled a profit warning caused by a failed US marketing campaign and weak sales to business customers. ...
UK construction weakest in four years, ONS says image
Source : BBC [Read Article] Friday 11th of November 2016 10:38:33 AM
....3%, said the ONS. Further evidence of a slowdown in the construction industry came from building materials and insulation firm SIG on Friday, as it issued a profit warning and said its chief executive was stepping down. ...
Nintendo profits hit despite Pokemon Go popularity image
Source : BBC [Read Article] Wednesday 26th of October 2016 10:46:01 AM
. The popularity of Pokemon Go has failed to stop Nintendo from issuing a profit warning, which it blamed on poor Wii U sales and a strong yen. ...
Lower iPhone sales hit Laird profits image
Source : BBC [Read Article] Wednesday 19th of October 2016 12:31:04 PM
William Hill and Amaya abandon merger talks image
Source : BBC [Read Article] Tuesday 18th of October 2016 06:26:53 AM
....Ladbrokes reported a 12% rise in third-quarter revenue on Tuesday, boosted by online growth and poor results for fan-favourites Manchester United and Barcelona. William Hill, which ousted its chief executive in July after a string of profit warnings, saw off a takeover approach from casino firm Rank and online operator 888 two months ago. ...
Samsung slashes profit forecast over Galaxy Note 7 crisis image
Source : BBC [Read Article] Wednesday 12th of October 2016 01:35:58 AM
....The Note 7 was recalled last month after battery fires, but after replacement phones experienced the same problem, Samsung scrapped the device. Ahead of the profit warning, Samsung shares fell 0. ...
FTSE 100 eases back from earlier losses image
Source : BBC [Read Article] Friday 30th of September 2016 07:35:57 AM
....8 points. Capita was for the second day the biggest faller, ending 4% lower - having sunk 27% on Thursday after a profit warning. ...

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