Melissa Juried Kriebel
Jupiter Fund Management made headlines when it halved its stake in THG last week.
But if it took a decisive approach on its holding in Matt Moulding’s struggling e-retailer, it has adopted more of a ‘slow and steady’ attitude towards Revolution Beauty.
Jupiter was a cornerstone investor in the cosmetics group when it floated last July, but has gradually pared back its 18 per cent slice to 11.51 per cent.
Losing the gloss: Jupiter was a cornerstone investor in cosmetics group Revolution Beauty when it floated last July
It was in good company.
Other investors have included Boohoo founder Mahmud Kamani and none other than Moulding.
Now Jupiter’s fund managers may be grateful they cut at least some of their losses, after Revolution’s shares nosedived last week when it warned auditors had raised issues about its already-delayed maiden results.
It’s not been such a great start for the debutante which, after a confident debut and a raft of ambitious targets, has flagged there will be a big hit to the accounts.
Currys chief boosted by pay
Bruce Marsh made a bold bet when he jumped ship from Tesco to become Currys’ finance chief last year.
He will be using all his calculator skills to guide the electronics and white goods retailer through the cost-of-living crisis.
To smooth the move, he was given a £680,000 payment to compensate for bonus and awards lost from his previous employer.
It gets better for him though – this was just part of a £1.5million total pay packet.
Thungela makes life awkward for anti-fossil fuel investors
Tomorrow could be awkward for anti-fossil fuel investors when Thungela Resources releases its half-year numbers.
The coal group was spun out of Anglo American last year – long before anyone thought the taboo energy source would be in high demand again.
The data is expected to be eye-catching to say the least. Inflation and cost pressures will undoubtedly have tempered the numbers, but sales are expected to have boomed.
The green agenda won’t be totally lost, however.
Critics such as mysterious research outfit The Boatman Capital are likely to reiterate calls for Thungela to put much of its spare cash in a rainy day pot, should its environmental liabilities be above current estimates.
Kistos walks away from Serica takeover
The takeover fun and games at North Sea oil group Serica Energy are all over after suitor Kistos walked away on Tuesday.
Weeks of wrangling saw Kistos make several offers for Serica, which produces about 5 per cent of Britain’s gas supply, only for Serica to turn the tables and propose a swoop on its smaller rival.
Still, the end of the tie-up talks hasn’t dented Serica’s share price, meaning Britain’s canniest retail investor couple David and Debbie Hardy are still sitting pretty.
The building firm operators reportedly spent £1million snapping up stock in 2014 and 2015.
At Serica’s current value of £1.1billion, their holding is still worth more than £100million, despite looming threats of a higher windfall tax.