THE STANDARD
FINANCIAL STANDARD
Reginald Kadzutu, Amana Capital acting CEO.
For the past few years, Reginald Kadzutu and Amana Capital have been joined at the hip.
The source of their shared torment has been the ghosts of collapsed giant retailer Nakumatt, which sank with the investment firm’s Sh255 million.
And any attempts to exorcise Nakumatt’s ghosts have proven unsuccessful so far. A strategic investor touted to pump Sh300 million and recapitalise the investment firm shied away at the last minute.
It was not clear why Sanjeet Thethy, the strategic investor, backed out.
Now, Kadzutu is back at Amana Capital in his third stab at turning around the company.
LONDON BRIEFING: Next cautious on outlook even as its raises guidance
Thu, 6th May 2021 08:15
(Alliance News) - UK clothing and homewares retailer Next on Thursday remained as dour as ever on Thursday, even while boosting its full-year profit guidance following a strong first quarter.
Investors were more positive. Next shares were up 1.9% in early trade.
Next said full price sales were down 1.5% in the 13 weeks to May 1 on two years ago, before the Covid-19 pandemic, which the company said was a more meaningful comparison.
The FTSE 100 constituent said it had assumed full-price sales during period would be down 10%, but beat this forecast by GBP75 million. Next raised its central guidance for full-year pretax profit by GBP20 million to GBP720 million.
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
HSBC delivers higher-than-expected first quarter profits - despite market fears plymouthherald.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from plymouthherald.co.uk Daily Mail and Mail on Sunday newspapers.