FTSE LIVE: RBS doubles profits and dishes out £1.6billion dividend; Premier Foods scraps Ambrosia sale; Pound under pressure ahead of latest retail sales figures
- Royal Bank of Scotland’s profits more than doubled last year to £1.62billion
- Premier Foods has shelved plans to sell off its Ambrosia brand
- The pound fell back yesterday and is vulnerable to UK retail sales data today
The Royal Bank of Scotland has unveiled its second successive year in the black and a £1.6billion final dividend, resulting in a near £1billion windfall for the taxpayer.
Mr Kipling cake firm Premier Foods has scrapped plans to sell off its Ambrosia custard brand, blaming the current business climate.
Later today, we have the retail sales figures for January, which could exacerbate the existing weakness in the pound if they come in below the City’s modest expectations of a 0.2 per cent rise.