Friday, December 20

Tag: BUYB

Britain’s Virgin Money full-year profit misses market view
23Nov By adminNo Comments
Money

Britain’s Virgin Money full-year profit misses market view

People walk past a Virgin Money store in central London, Britain, July 27, 2021. REUTERS/Henry Nicholls/File Photo Acquire Licensing RightsNov 23 (Reuters) - Virgin Money UK (VMUK.L) on Thursday reported full-year profit below market estimates, pulled down by pressure on lending margins and stubborn inflation that squeezed British banks' returns.The British banking industry faces a tough economic outlook, higher risks of loan defaults amid a cost-of-living crisis, and margin pressure from fierce competition for savings and mortgage products.Virgin Money said its underlying profit before tax slumped 24% to 593 million pounds ($738.94 million) for the 12-month period, compared with a forecast of 625 million pounds by analysts in a company-compiled consensus.For the financial year 2024, Vir...
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Plus500 returns money to shareholders, eyes expansion despite profit drop
14Aug By adminNo Comments
Money

Plus500 returns money to shareholders, eyes expansion despite profit drop

Shareholder returns of $120 mlnHY core profit down 43% Y-O-YShares up as much as 6%Aug 14 (Reuters) - Online trading platform Plus500 (PLUSP.L) announced on Monday it would return $120 million to shareholders through dividends and share buybacks and said it was looking at further international expansion through acquisitions.The London-listed company posted a 43% slump in core profit in the first half as market volatility declined. However, earnings were up 17% sequentially from the second half of last year.Shares in the company rose by as much as 6%.Trading platforms are dealing with a slowdown in client activity, as market volatility eased from highs witnessed during Russia's invasion of Ukraine last year and the pandemic."We are very much positive about the future for the second half .....
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