The FTSE 100 is down 0.5 per cent in early trading. Companies with reporting and trading updates today include 888 Holdings, Deliveroo, Inland Homes, Phoenix Group and Mitchells & Butlers. Read the Business Live blog from Thursday 28 September below.
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Inland Homes to appoint administrators as cash runs out
Deliveroo proposes takeover bid to return up to £250m to shareholders
Deliveroo plans to return up to £250 million to its shareholders through a premium takeover bid launching on Friday.
The food delivery group, which first outlined the plan to return excess capital to shareholders in August, said it plans to buy up to 217.4 million existing ordinary shares for between 115 and 135 pence per share.
Morrisons chief executive Potts resigns after nine years
888 profits fall due to regulatory restructuring
Gaming giant 888 Holdings has lowered its annual profit expectation after sales fell 10 percent in the third quarter, which the company attributed in part to stricter regulation of the sector in the United Kingdom.
Lord Mendelsohn, Chief Executive, said:
“This has been an important quarter for the business with the announcements of Per Widerström as our new CEO and Sean Wilkins as our new CFO, who I am very confident will lead the business through its next phases of growth and I look forward to Per starting as CEO in mid-October.
“We are taking significant steps to improve the quality and long-term sustainability of our revenues, but performance in the third quarter has been below our expectations, and this means we now expect to end the year with EBITDA below our expectations. previous expectations.”
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