Page 12 - Ivan Edwards News Today : Breaking News, Live Updates & Top Stories | Vimarsana

OSB writes down GBP20 million in fraudulent loan case, earnings fall Thu, 8th Apr 2021 11:48 (Alliance News) - OSB Group PLC on Thursday reported a decline in underlying profit in 2020, after recording a GBP20 million impairment because of potential fraud by a third party. Underlying pretax profit fell 9.2% to GBP346.2 million from GBP381.1 million in 2019. In the first full year after the merger with Charter Court Financial Services in October 2019, statutory pretax profit increased 25% to GBP260.4 million from GBP209.1 million. Net interest income rose 37% to GBP472.2 million from GBP344.7...

IN BRIEF: Simec Atlantis Energy distances itself from Gupta Wed, 7th Apr 2021 12:34 Simec Atlantis Energy Ltd - Edinburgh-based renewable energy producer - Says it is an independent company, it is not a member of the Gupta Family Group Alliance, and has no connection with any of the GFG Alliance's funding mechanisms, following media "misstatements". Says Simec UK Energy Holdings, a member of the GFG Alliance, is its largest shareholder with an approximately 43% stake. Shares in Simec Atlantis Energy rise 14%. GFG Alliance is facing a financial crisis following the collapse of its lender, Gree...

Flutter vows to defend itself after Fox sues over FanDuel deal Wed, 7th Apr 2021 09:17 (Alliance News) - Flutter Entertainment PLC on Wednesday said it would "vigorously" defend itself against Fox Corp after the US company sued in a dispute over a stake in FanDuel Group. Shares in Dublin-based gambling firm Flutter were down 1.5% to 15,510.00 pence in London. On Tuesday, Fox said it filed an arbitration suit against Flutter to enforce its right to buy an 18.6% stake in FanDuel, at the same price Flutter paid for the stake in December. But Flutter said Fox's position is "incorrect" and that ...

Pharos Energy swings to loss as low oil prices take toll Wed, 7th Apr 2021 10:18 (Alliance News) - Pharos Energy PLC on Wednesday reported a swing to a loss and a drop in revenue in 2020 as low oil prices hit the exploration and production company. The company made a pretax loss of USD241.2 million, after a pretax profit of USD11.7 million in 2019. Revenue fell 25% to USD142.0 million from USD189.7 million. Shares were down 2.3% to 23.90 pence in London. Low oil prices and an impairment charge were the key drivers of the loss, Pharos said. The company recorded a USD198.1 million impairmen...

Tullow Oil starts Ghana drilling campaign, sees cash flow potential Tue, 6th Apr 2021 09:56 (Alliance News) - Tullow Oil PLC on Tuesday said it started a drilling campaign in offshore Ghana. London-based explorer and producer Tullow expects to drill four wells this year in the Jubilee and TEN Fields, which have a large resource base with extensive infrastructure already in place. The assets have the potential to generate material cash flow over the next decade, the company said. The campaign is the first part of Tullow's 10-year business plan announced in November. Shares were up 3.4% at 50....