LONDON (Reuters) – Britain’s Premier Foods announced a 1.13 billion pound refinancing plan on Tuesday as part of an ongoing restructuring aimed at reducing its debts and reviving the business.
The maker of Mr Kipling cakes and Bisto gravy has spent the past few years selling assets, reshaping its business and cutting costs to help reduce debt built up during an acquisition spree, switching its focus to growing its top grocery brands.
LONDON, March 4 (Reuters) – Britain’s Premier Foods
announced a 1.13 billion pound ($1.89 billion) refinancing plan
on Tuesday as part of an ongoing restructuring aimed at reducing
its debts and reviving the business.
The maker of Mr Kipling cakes and Bisto gravy has spent the
past few years selling assets, reshaping its business and
cutting costs to help reduce debt built up during an acquisition
spree, switching its focus to growing its top grocery brands.
LONDON, March 4 (Reuters) – Embattled British outsourcing
group Serco said it was braced for another tough year as
it recovers from government contract failures, profit warnings
and management exits that pushed 2013 annual profit down 6
The firm, which on Friday named Aggreko Chief
Executive Rupert Soames as its new boss, said on Tuesday yearly
adjusted pretax profit fell to 254.4 million pounds ($425
million), slightly below an average analyst forecast of 257
LONDON, March 3 (Reuters) – Mike Ashley’s Sports Direct empire began in 1982 on a quiet high street in southeast England, with the help of a 10,000 pound ($16,800) loan from his parents.
Thirty-two years on, the company dominates Britain’s sports retail market and Ashley is a billionaire whose unconventional image and management style, and penchant for a quick deal, have earned him admirers, as well as critics, along the way.
LONDON (Reuters) – British outsourcer Serco named Rupert Soames, a grandson of former Prime Minister Winston Churchill, as chief executive on Friday to restore profits and its reputation following high-profile government contract failures.
Serco shares have lost 40 percent since July when it, along with G4S, was shown to have charged for tagging criminals who were not being monitored, in prison or dead. The government imposed a ban on new work the same month.
LONDON, Feb 28 (Reuters) – Embattled British outsourcer
Serco named Rupert Soames as its new group chief
executive on Friday as it focuses on rebuilding a business
rocked by high-profile government contract failures and profit
Soames, the grandson of former British Prime Minister
Winston Churchill, is joining Serco from British temporary power
provider Aggreko where he served as CEO for 11 years.
LONDON, Feb 27 (Reuters) – Madame Tussauds waxworks is
coming to Beijing while Dubai will get a Legoland theme park
under an international expansion drive by Britain’s Merlin
Entertainments, which announced its maiden results as a
listed company on Thursday.
Merlin, the world’s second-biggest operator of visitor
attractions behind Walt Disney, currently makes over 60
percent of its revenue in Britain and continental Europe.
LONDON, Feb 27 (Reuters) – Domino’s Pizza said a
spike in orders from customers staying in to escape Britain’s
wet weather was behind a 14.6 percent jump in sales in 2014,
although the strong start was tempered by setbacks to its
expansion into Germany.
Domino’s, the UK’s biggest pizza delivery firm with nearly
800 stores, has grown rapidly via promotions and online sales
and has expanded into Ireland, Switzerland and Germany. But in
Germany, where it has 23 stores, roll-out plans have been hit by
weak trading and higher-than-expected labour costs.
LONDON, Feb 25 (Reuters) – Britain’s Tesco, the
world’s third-largest retailer, is to focus on cheaper pricing
as it relaxes its view on operating margins and steps up its
store revamp programme and investment in online and convenience
Outlining his plans at an investor and analyst seminar on
Tuesday, Chief Executive Philip Clarke said the measures
accelerate a turnaround plan aimed at countering increased
competition in the British retail market, but which has so far
failed to boost its languishing sales.
LONDON, Feb 12 (Reuters) – English soccer champions
Manchester United will ramp up spending on new players
to improve their ailing squad and boost the team’s chances of
winning the trophies that have been key to their financial
United, slumped in 7th place in the Premier League in a
tough debut campaign for new manager David Moyes, on Wednesday
posted an 11.6 percent rise in second-quarter revenue showing
their on-pitch difficulties had not yet effected business.