In June, Jose Calamonte joined Asos as its new CEO, while the company also appointed Jorgen Lindemann as chair.Īsos said that Dunn will continue in his role until at least October 31 and will remain employed until the end of the year to provide ‘transitional support’. At the time, the company said it intends to shake-up the board to ‘underpin delivery of the next phase of its global growth strategy’.įollowing Beighton's departure, Dunn, who joined Asos in April 2019 as CFO, took on the additional role of COO.
In October, Chief Executive Nick Beighton said he would step down after 12 years with Asos, including six as CEO. Pretax profit more than doubled to £83 million from £35 million.īalfour raised its dividend by 17% to 3.5 pence per share from 3.0p.Īt the other end of the mid-caps, Asos ended the worst performer, down 11%, after the online fashion retailer said Chief Operating Officer & Chief Financial Officer Mat Dunn will step down. In the FTSE 250, Balfour Beatty ended the standout performer, up 9.8%, after the construction company raised its profit outlook.įor the half year ended July 1, the firm's revenue was largely unchanged year-on-year at £4.15 billion. Rivals Barratt Developments, Taylor Wimpey and Berkeley closed down 3.6%, 3.1% and 3.0% respectively in a negative read-across. It continues to target around 10% growth in active outlets by the end of 2022. Pretax profit declined 8.4% to £439.7 million from £480.1 million.ĭespite the fall in profit, the housebuilder remained optimistic: ‘While near term uncertainties continue the longer-term fundamentals remain strong,’ it said. ‘Legal completions, as anticipated, were lower than the prior year and reflect delays in achieving planning consents on our new outlet openings,’ it said. Completions during the half amounted to 6,652 new homes, down from 7,406 a year earlier, as expected. The York-based company said revenue in the half-year to June 30 fell 8.3% to £1.69 billion from £1.84 billion a year ago. In the FTSE 100, Permission ended the worst performer, down 7.8%, after the housebuilder said half-year earnings declined. However, there has been an acceleration in annual inflation every month since last October.Įarlier this month, the UK central bank lifted borrowing costs by 50 basis points to 1.75% - marking its highest rate increase since 1995. Modelling would suggest the last time inflation was this red-hot was in 1982, 40 years ago.Ī year earlier, the inflation rate was just 2.0% - matching the Bank of England's target. The UK consumer price index surged by 10.1% on an annual basis in July, topping FXStreet-cited market consensus of 9.8% and quickening from 9.4% in June.Īccording to the Office for National Statistics, it was a fresh high for the annual inflation rate in the current series, which began in January 1997.
In Paris, the CAC 40 closed down 1.0%, while the DAX 40 in Frankfurt shed 2.0%. The Cboe Small Companies lost 0.2% at 14,418.18. The Cboe UK 100 index closed down 0.3% at 750.82. The AIM All-Share index closed down 4.87 points, or 0.6%, at 926.67. Stocks in London ended lower on Wednesday as UK inflation accelerated at the fastest pace in 40 years in July, while housebuilders weighed on the FTSE 100 on a profit drop from Persimmon.
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