Joules and Next Talks Collapse, Redrow Reports Final Results: Morning Roundup

Wednesday brings the latest news from some of the biggest London-listed stocks…

Joules/Next

  • Joules said on Tuesday it was no longer in talks with retailer Next over a potential £15 million equity investment.
  • Joules tumbled almost 50% following the announcement.
  • Joules has been struggling with its finances as consumers have been more cautious due to inflation. The company added it was developing a turnaround plan to drive higher profitability through better pricing and promotional strategy.

Redrow

  • Redrow reported its final results, which saw revenue reach £2.14 billion from £1.94 billion in 2021.
  • Underlying profit before tax came in at £410 million, up 31% from the previous year.
  • The company also raised its dividend to 22p per share from 18.5p per share.

Purplebricks

  • Purplebricks announced the appointment of Adrian Gill and Gareth Helm to its board as independent Non-Executive Directors.
  • They will both join the board from 1 October 2022.
  • Adrian Blair will step down as a Non-Executive Director on 1 October 2022 following four years as a member of the board.

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