Mike Ashley’s Frasers Group has made a strategic move by acquiring a £3 million stake in Marks Electrical, boosting the online white goods retailer’s shares in early Tuesday trading Earlier in the month, Marks Electrical reported a dip in half-year profits as consumers opted for less expensive products due to financial pressures, with adjusted earnings falling to £2 million for the six months ending September 30, compared to £2.3 million in the previous year.
This occurred even though revenue rose by 9.3% to £58.8 million for the half-year period
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Frasers ups stake in AO
Frasers Group has increased its stake in electricals retailer AO World as it launches an £80m share repurchase programme.
The retail group said on Monday that it intends to buy back up to 10 million shares, worth 2% of the company, over the next 11 weeks to 28 April with support from investment banking group Deutsche Numis
Frasers continues its acquisition spree with the group increasing its holding in AO from 23.07% to 24.7% on Tuesday.
The retail empire first snapped up a 19% stake, worth £75m, in the Bolton-based online retailer back in June.
Frasers also holds shares in AO rival Currys, which it said was part of a “strategic investment” as it looks to increase its “foothold in the electricals industry”
Frasers ups it’s stake in Currys
UK-based sportswear and fashion retailer Frasers Group has increased its stake in electricals retailer Currys.
Frasers raised its stake in the company from 10.4% to 11.1%. Financial terms of the transaction have not been disclosed.reported last week that Currys was exploring “a number of avenues” for possible partnership with Frasers.
Frasers getting into appliance retail
Frasers has upped its stake in AO World and Currys as it continues its acquisition spree.
The Mike Ashley owned group raised its holdings in the Bolton-based online electrical retailer for the third time this month to 22.2% from 21.3%.
It also lifted its shareholdings in Currys to 10.4%, which it said last week was part of a “strategic investment” as it looks to increase its “foothold in the electricals industry”.
Frasers acquires stake in Currys
Frasers Group, the retail empire founded by billionaire entrepreneur Mike Ashley, has snapped up an 8.9% stake in Currys, with the news coming a little over a week after the group acquired a substantial portion of online electricals retailer, AO World.
Frasers’ shareholding in Currys is worth around £53.5m given the firm’s market capitalisation of £601.9m.
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