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Creston acquires majority stake at Splendid, full-year results in line

Wed, 22nd Apr 2015 12:03

Marketing communications group Creston expects full-year results to be in line with forecasts.The group said it expects revenues to increase by 2.7% to £76.9m and cash of £8.3m.Creston also announced on Wednesday the acquisition of a 51% stake at How Splendid, a London-based digital design consultancy.The acquisition will cost the group £8.7m in cash and a further £7m due in June 2017, based on the group's performance during the period.Splendid was founded in 2003 and works with a variety of blue-chip clients such as Boots, eBay and BarclaysCard. The company posted revenues of £4m and profits before tax of £1.2m in 2014.Chief executive Barrie Brien said: "As part of Creston Unlimited, Splendid's consultancy expertise, which focuses on evolving the way brands do business in the digital world, will complement the group's marketing communications strength and further evolve our compelling integrated digital services capability."Managing partner of Splendid Paul Bishop said the partnership will improve its core proposition of digital transformation and create bigger conversations with its clients.Shares in Creston were up 3.16% to 122.25p on Wednesday at 12:17.
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1 Apr 2019 07:11

Sports Direct holds back from Debenhams bid

(Sharecast News) - Rather than emerge with a full takeover bid, Sports Direct has prepared a template letter for other shareholders in Debenhams to use as part of boss Mike Ashley's push to install himself as chief executive of the troubled department store group.

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29 Mar 2019 09:45

Debenhams offers olive branch to Ashley after securing £200m refinancing

(Sharecast News) - Debenhams has secured £200m of cash from its lenders but said it remained open to Sports Direct making a takeover offer or underwriting a rights issue or a loan of its own.

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28 Mar 2019 09:20

Debenhams ploughs on with ?200m refinancing plan

(Sharecast News) - Debenhams said on Thursday that it had achieved the requisite level of consent from its bondholders to carry out the next stage of its refinancing plans, which it has warned could lead to shareholders being wiped out.

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25 Mar 2019 12:18

Braemar profits slip despite strong showing from shipbroking unit

(Sharecast News) - Braemar Shipping warned investors on Monday that annual profits would come in lower year-on-year despite a solid performance from its shipbroking unit in the second half of the year.

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25 Mar 2019 12:17

Mike Ashley lashes out at Debenhams after latest tilt rebuffed

(Sharecast News) - Sports Direct has criticised Debenhams, after the beleaguered department store refused to sell billionaire Mike Ashley its Danish business.

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22 Mar 2019 13:33

LMS Capital books loss as NAV stumbles

(Sharecast News) - LMS Capital on Friday reported that it swung to an annual loss after its net asset value declined with the company now pondering its investment options.

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22 Mar 2019 09:20

Debenhams shocks with ?200m loan plan, Sports Direct has other ideas

(Sharecast News) - Debenhams shares collapsed 64% to 1p on Friday as the department store group announced plans for a new fundraising, bringing a swift response from its largest shareholder, Sports Direct.

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21 Mar 2019 10:49

Sports Direct tries again with Debenhams EGM demand

(Sharecast News) - Sports Direct's Mike Ashley has for the second time requisitioned a general meeting of Debenhams as his first effort was declared null and void.

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21 Mar 2019 10:37

Game Digital scores profit rise despite revenue drop

(Sharecast News) - Computer games retailer Game Digital reported that cost-cutting had led to an increase in interim profits, despite a drop in revenue.

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20 Mar 2019 10:17

Centaur Media swings to losses in year of transformation

(Sharecast News) - Business information and specialist consultancy provider Centaur Media issues its preliminary results for the year ended 31 December on Wednesday, reporting a 9% improvement in group revenue year-on-year to £70.5m, although on an underlying basis, revenue declined 1.6%.

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19 Mar 2019 07:50

Bonmarche shares tumble as it issues another profit warning

(Sharecast News) - Shares in Bonmarche tumbled on Tuesday after the womenswear retailer warned of a worse-than-expected full-year loss - its third profit warning in six months - as trading since the beginning of March has been "significantly" weaker.

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19 Mar 2019 07:50

Bonmarche shares tumble as it issues another profit warning

(Sharecast News) - Shares in Bonmarche tumbled on Tuesday after the womenswear retailer warned of a worse-than-expected full-year loss - its third profit warning in six months - as trading since the beginning of March has been "significantly" weaker.

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18 Mar 2019 10:22

Moss Bros hires Joules CEO as new chairman

(Sharecast News) - Menswear retailer Moss Bros has hired the chief executive of fashion brand Joules, Colin Porter, as its new chairman.

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18 Mar 2019 08:19

Interserve's support services arm attracts Mitie, Serco

(Sharecast News) - Mitie and Serco are among interested suitors for a single part of Interserve, after their fellow oursourcer called in the administrators on Friday.

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