BusinessReutersUK's Persimmon upbeat on 2024 housebuilding targets amid sector rebound hopes
The positive tone of the housebuilder chimes with policy set out by Britain's new Labour government, which wants to tackle the country's housing crisis by easing planning restrictions and boosting land supply. That and the first UK rate cut in more than four years have fostered optimism in country's housebuilding sector where demand has remained subdued for more than a year. Many of the top UK mortgage lenders lowered rates in February and July in anticipation of the long-awaited rate cut decision, although the delay in the monetary policy loosening averted continual reduction in home loan rates through the year.
BusinessEvening StandardDeliveroo shares jump as it posts first ever profit
Deliveroo today reported its first ever profit in a major milestone for the London-based business three years after its troubled IPO. The firm’s interim results showed a small profit of £1.3 million for the first six months of 2024, turning round a first-half loss of £82.9 million for the previous year, as well as its first period of cash flow positivity. “We’ve seen that we can improve profitability as we’re growing,” Shu said, adding: “We see less headwinds in the consumer markets.”
BusinessReutersLadbrokes owner Entain lifts annual forecast after football events boost Q2
(Reuters) -Entain raised a key annual revenue forecast on Thursday, encouraged by punters cashing in on high-profile football events in Europe in the second quarter, which boost shares in the British gambling group by more than 11%. The owner of Ladbrokes, Coral and Partypoker said it now expected a low single-digit positive growth in online net gaming revenue (NGR), up from a previous forecast of low single-digit negative growth for the full year, boosted by bets on the Euro 2024 Cup, European Champions League and the upcoming English Premier League. Entain enjoyed a boom during the pandemic, as punters working from home with more time on their hands placed bets.