Water debt crisis?
Macro & Overnight
Thames Water’s complex structure and light regulatory oversight have exposed a new debt problem for the UK to negotiate. Collectively the water industry has over £60bn of debt.
As rates rise, expect more things to break.
UK Comapny News
Floor coverings distributor Likewise had an AGM update reporting sales have increased by 17.6% in H1. The business performed across all geographical regions and in both residential and commercial. It is optimistic regarding the traditionally stronger Q3 and Q4 and is on target to achieve expectations for the FY.
Marlowe reported revenue increased 47% to £465.7m, EBITDA increased 52% to £82.7m. It also said it had surpassed the target of generating £500m run-rate revenue by the end of FY24. It sees continued organic momentum, and we expect to continue to deliver strong financial performance.
Building group Morgan Sindall expects to show more of a weighting towards the first half than in recent years. This will be mainly due to the performance of the Fit Out division, which has continued to perform strongly since the trading update, about 40% above last year. Full-year profit for the Group will be ahead of its previous expectations.
Logistics group DX has bought several sites from the receivers of Tuffnells.
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