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GCM Resources extends memorandum of understanding with PowerChina

25 May 2021 | 07:32am StockMarketWire.com - Electrical and industrial products group Electrocomponents reported a fall in annual profit as lower margins offset a rise in revenue. For the year ended 31 March 2021, pre-tax profit fell 19.5% to £160.6 million year-on-year, while revenue climbed 2.5% to £2.0 billion. Gross margin fell 1% to 42.7%, driven by 'increased freight costs, inventory provisions and regional mix,' the company said. The company raised its full-year dividend by 3.2% to 15.9 pence per share. Looking ahead, the company said it had carried 'strong momentum into the new finan...

23 April 2021 | 12:05pm StockMarketWire.com - The FTSE 100 was down 0.4% to 6,907.48 by midday as investors continued to weigh Covid risks and even as US futures markets suggested a recovery on Wall Street later. US stocks were materially weaker on Thursday on the Biden administration's latest tax plans. Back in the UK, retail sales jumped by 5.4% in March from February, the Office for National Statistics said. Public transport company FirstGroup rose 11.5% to 96.85p after entering into an agreement to sell its First Student and First Transit businesses to EQT Infrastructure for £3.3 billio...

23 April 2021 | 07:37am StockMarketWire.com - Commercial property investment firm UK Commercial Property REIT Limited has reported a net loss for the year of £10.3 million – a consequence of the Covid-19 pandemic. The loss was driven by downturns in the leisure, office and retail sectors, although the majority of the firm’s retail portfolio is in retail warehouses and supermarkets – sectors that have proved more resilient through the COVID-19 pandemic. The company is to issue a further interim dividend in relation to 2020, of 0.531p which will be paid on 21 May 2021 to shareholders on ...