Articles by Northern Financial Review


Maplin goes into administration

Rotherham and London-based electronics retailer Maplin Electronics Limited, owned by Rutland Partners, has gone into administration. Zelf Hussain, Toby Underwood and Ian Green of PwC have…



Biomass boost as Drax revenue hits £3.68bn

North Yorkshire-based power company Drax Group said its 2017 earnings before interest, tax, depreciation and amortisation (EBITDA) rose 64% to £229 million — more than analysts were…


Greggs sales up 7.4% to £960m

Newcastle-based bakery and “food-on-the-go” retailer Greggs said its 2017 sales rose 7.4% to £960 million and pre-tax profit excluding exceptional items edged higher to £81.8 million from…






Persimmon partially cuts executive bonuses

York-based housebuilder Persimmon said on Friday it will partially reduce controversial bonuses for its top executives following shareholder outrage at the package that could have…


Stobart Group confirms interest in Flybe

Stobart Group has address the recent speculation about a potential takeover of Flybe Group Plc by Stobart. In a stock exchange statement, Stobart Group said: “The…





Asda sales growth boosted by strong Christmas

Walmart said its Leeds-based subsidiary Asda chalked up its fourth consecutive “step on” in sales, reporting like-for-like sales growth of 0.5% in the fourth quarter to December…


Morrisons buys free range eggs firm Chippindale

Bradford-based supermarket group Morrisons said it has acquired Flaxby, North Yorkshire-based Chippindale Foods, a supplier of free range eggs. “The acquisition means that Morrisons will make…






Dorner completes Virgin Money female top team

Edinburgh and Newcastle-based Virgin Money has confirmed the appointment of former HSBC executive Irene Dorner as chair elect of the challenger bank. The appointment helps create the…








Revolution Bars names Rob Pitcher as new CEO

Manchester-based Revolution Bars Group plc announced the appointment of Rob Pitcher as its new chief executive Officer.   The joining date will be advised in due course. Pitcher has more…










SIG suspends staff after profit overstatement

Shares of Sheffield-based European building products distributor SIG plc fell 5% after it said it “identified a historical overstatement of profit relating to the year ended…



Cussons profit hit by margins in Europe and Africa

Manchester-based soaps and consumer products company PZ Cussons said its adjusted operating profit fell 10.3% to £37.5 million despite revenue rising 1.9% to £385.4 million in the six months to…




Conviviality shares sink 11% as profit falls

Shares of Crewe-based alcohol wholesaler and distributor Conviviality Plc — which owns Bargain Booze and Wine Rack — fell 11% on Monday after it said revenue for the 26 weeks…



Founder steps down at Durham’s Atom bank

Durham-based Atom bank, the UK’s first bank designed exclusively for mobile technology, said founder Anthony Thomson has announced his resignation as chair of Atom. Bridget…


Benchmark revenue up to £140m as loss narrows

Sheffield-based Benchmark Holdings, the aquaculture health, nutrition and genetics company, said its revenue increased 28% to £140.2 million in the year to September 30, 2017, and its loss for…



Sage shares fall after trading update

Shares of Newcastle-based software giant Sage Group fell more than 6% after investors were left underwhelmed with its trading update for the three months to December…








B&M quarterly revenue up 23% to £970m

Liverpool-based B&M European Value Retail said its total sales revenue increased 22.9% to £969.8 million in the quarter ended December 23. B&M CEO Simon Arora said: “B&M continues to…




Boohoo.com upgrades revenue growth forecast

Manchester-based online fashion giant Boohoo.com plc said revenue growth for its current financial year is now expected to be around 90%, ahead of its previous guidance…


Revenue up 16.6% at Bolton’s AO World

Bolton-based European online electrical retailer AO World said its group revenue was up 16.6% for the three months to December 31, 2017, year on year. In a trading update for…



Morrisons Xmas & New Year sales up 3.7%

Bradford-based supermarket group Morrisons said its like-for-like (LFL) sales excluding fuel for the 10 weeks to January 7 were up 2.8% “comprising contributions from retail of 2.1% and wholesale of…





Nisa Xmas period sales up 18% to £277m

Scunthorpe-based Nisa Retail, currently being acquired by Manchester-based Co-op Group, said its sales rose 17.7% to £277 million over the Christmas period — the 10 weeks…


Grainger to buy Sheffield development for £32m

Newcastle-based Grainger plc, the UK’s largest listed residential landlord, said it exchanged contracts with Abode Hallam Limited and agreed to forward fund and acquire a private…




Work starts on TransPennine bullet trains

Hitachi Rail Europe said production has started on new intercity trains for northern England, Scotland and the TransPennine Express. It said 19 new five-carriage trains harnessing Japanese…


Drax takes £10m hit from power station outage

Shares of North Yorkshire-based power company Drax Group fell more than 4% after it said biomass deliveries are currently restricted after an unplanned outage on the rail unloading facilities…