Reuters UK Business

By Raechel Thankam Job (Reuters) -British homebuilder Vistry on Thursday said it expects a near 34% slump in adjusted pre-tax profit for the first half of 2025, but backed its forecast of annual profit growth due to increased government funding for affordable homes. Britain’s construction industry has been slowly recovering after high interest rates and …

Vistry warns of first-half profit slump, expects UK home funding to drive growth Read More »

(Reuters) -Thames Water said it has received an offer while commenting on a Financial Times report about a last-ditch rescue bid from former Liberal Democrat energy spokesman Rupert Redesdale and investment firm Muinin Holdings. Without confirming the name of the bidder, a company spokesperson said the offer has “little credibility or viability to recapitalise the …

Thames Water confirms receiving a bid amid FT report on Redesdale move Read More »

By Marta Maciag and Julia Kotowska GDANSK (Reuters) -Pepco Group eyes accelerated growth in Continental Europe following the sale of Britain’s Poundland, the CEO of the Polish discount retailer said after it posted record-high third-quarter revenue on Thursday. Investment firm Gordon Brothers bought the struggling Poundland business in June, allowing Pepco to concentrate on its …

Pepco Group targets accelerated growth after Poundland sale, CEO says Read More »

By Sarah Young LONDON (Reuters) -Britain’s WPP named board member Cindy Rose as its new chief executive on Thursday, tasking the senior Microsoft executive with leading its recovery a day after a major profit warning showed the scale of the challenge at the ad group. Rose has been on the board since 2019 and will …

WPP taps Microsoft exec Rose to rebuild ad group Read More »

HAMBURG (Reuters) -Germany’s Suedzucker, Europe’s largest sugar producer, posted an 85% fall in quarterly operating profit on Thursday, hurt by low EU sugar prices. Suedzucker reported operating profits of 22 million euros ($25.82 million) for the first quarter to end-May, down from 155 million euros a year earlier. It confirmed its previous forecast for full-year …

Sugar producer Suedzucker’s profit drops 85% on weak prices Read More »

(Reuters) -Britain’s media regulator set new minimum acceptable delivery deadlines for Royal Mail on Thursday, changed some existing targets to prevent long delays, and launched a review of pricing and affordability to address concerns of rising stamp prices. Royal Mail, which is trying to modernise its business as it shifts its focus to parcels, has …

Ofcom revises Royal Mail targets, launches pricing review to reform postal service Read More »

LONDON (Reuters) -Britain’s government will not move to a zonal system for wholesale energy prices but instead seek to take greater control of the planning process to determine where clean energy infrastructure is built. Britain, which has some of the highest electricity costs in the world, is grappling with how to build new generation in …

UK rules out zonal energy pricing move Read More »