Blackpool Council bought the Grade II listed building in September

Proposals to transform part of Blackpool’s former Abingdon Street Post Office into a hotel are still being considered, it has been confirmed.

Owners Blackpool Council, who bought the Grade II listed building in September after previous hotel plans fell through, have given an update on current plans for it.

They include the possibilities of a 90-bedroom hotel which looks onto Edward Street, to the rear of the building, after sub-dividing the building.

Previously, ambitious £26m plans were being considered to develop the site as a high end 148-room Indigo Hotel , after exploration work undertaken by Ashall Hospitality (Blackpool) LLP, but that scheme was scrapped due to cost projections.

Now the council says alternative options are being actively explored to repurpose the long-vacant building in a way that both respects the heritage of the site and boost the town centre economy.

The scheme continues to be supported by £8million from the UK Government’s Capital Regeneration Funding (CRF) grant. In addition to the purchase of the iconic building, investment has been made through the Phase 1 viability stage, including detailed site condition information that will be vital in shaping future plans.

The authority is also taking into account way to step up security after youths managed to get onto the roof on a number of occasions, and also to carry out repairs after it became clear the building was deteriorating.

A Blackpool Council spokesperson said:”Blackpool Council acquired the former Post Office building in September 2025 using part of the £8m secured through the UK Government’s Capital Regeneration Fund, now known as the Local Regeneration Fund.

“Following an extended period of vacancy and deterioration, the acquisition represents a significant opportunity to unlock the redevelopment potential of this key town centre asset.

“Since completing the purchase, the Council has delivered a programme of initial improvement works.

“This has included clearing the courtyard and removing extensive internal debris, commissioning further surveys to inform future proposals, and undertaking a range of external improvements such as removing broken glazing, carrying out repairs, repainting doors and installing window vinyl wraps.

“Enhanced security measures have also been put in place to prevent trespass and safeguard the public.

“The council is now advancing plans for the site’s long-term redevelopment. Proposals include subdividing the property to accommodate a 90-bedroom hotel fronting Edward Street, alongside re-purposing the Abingdon Street building.

“The opportunity will be formally brought to the investment market in 2026, inviting partners to play a key role in the regeneration of this strategically important town centre asset.”

The former Post office was built in 1910 and designed in Renaissance style by architect Walter Pott.

But after the Post Office closed in 2007, this once busy hub of activity fell into disrepair. It is hoped that it can eventually be given a new lease of life.

Kenny Green
Investor Relations

Ladies and gentlemen, thank you for standing by. I would like to welcome all of you to Camtek’s Results Zoom Webinar. My name is Kenny Green, and I’m part of the Investor Relations team at Camtek. [Operator Instructions] I would like to remind everyone that this conference call is being recorded, and the recording will be available from the link in the earnings press release and on Camtek’s website from tomorrow. You should have all received by now the company’s press release. If not, please view it on the company’s website.

With me today on the call, we have Mr. Rafi Amit, CEO; Mr. Moshe Eisenberg, CFO; and Mr. Ramy Langer, COO. Rafi has a cold and has lost his voice. So Ramy will be providing the opening remarks followed by Moshe, who will then summarize the financial results of the quarter. Following that, we will open the call for the question-and-answer session.

Before we begin, I’d like to remind you that the statements made by management on this call will contain forward-looking statements within the meaning of the federal securities laws. Those statements are subject to a range of changes, risks and uncertainties that

Rolls-Royce shares hit a record high as defence stocks rally and FTSE 100 climbs to 10,672p

Rolls-Royce was among a plethora of City heavyweights surging on Wednesday, aiding the FTSE 100 in securing another record.

The aerospace behemoth rose by 2.2 per cent to 1,325.50p, reaching a new all-time high and surpassing January’s previous peak of 1,305.00p.

This surge coincided with defence giant BAE Systems leaping nearly four per cent higher to 2,103.00p after initiating new plans to distribute cash to shareholders. The company’s defence counterpart Babcock also saw a two per cent increase.

The defence sector has enjoyed a robust start to the week following news that the UK is considering achieving its target to spend three per cent of GDP on defence much sooner than the previously set goal of the end of the next Parliament.

Gains across the defence sector and other major industries contributed to the FTSE 100 building on Tuesday’s record close and advancing another one per cent by midday on Wednesday, hitting 10,672.50p, as reported by City AM.

Joshua Mahony, chief market analyst at Scope Markets, said: “What was once perceived as a boring index full of old and unexciting companies has now turned into an area of relative stability amid ongoing concerns around the implications of AI.

“The FTSE’s climb is broad-based, with significant momentum in energy, defence (amid Iran tensions), financials (driven by rate outlooks), and mining (as metal prices rally).”

In the banking sector, HSBC made the most significant move, leaping over two per cent to nearly 1,300p, closely followed by Barclays, which reached 484.40p after a two per cent rise.

Mining company Antofagasta surged four per cent by midday, with counterparts Anglo American and Glencore up almost three per cent. This followed Glencore’s announcement of plans to distribute $2bn to shareholders despite a dip in profits.

“Glencore’s second-half recovery may not rival Liverpool’s turnaround in Istanbul two decades ago, but the latter part of the year did represent a significant improvement – driven by strong metal prices and higher copper output,” said Russ Mould, investment director at AJ Bell.

“Like most of its peers, Glencore sees copper as the route to growth thanks to the role the metal is playing in AI data centres, renewable energy, and electric vehicle infrastructure. Building greater scale in copper production was a key driver behind the talks over a combination with Rio Tinto.”

The telecoms group lost 397,500 mobile customers in 2025 and forecasts underlying earnings will fall 3-5% in 2026

Telecommunications giant Virgin Media O2 has issued a warning over declining sales and earnings in 2026 as it revealed substantial mobile customer losses following price increases.

The company said it shed 397,500 mobile customers on a net basis last year, with a 164,800 drop in the fourth quarter driven largely by O2 price rises.

Last October, Virgin Media O2 announced it would increase prices for its 15.6 million mobile customers by £2.50 a month from spring 2026, having previously indicated the rise would be £1.80.

The business also said it lost 138,400 broadband customers on a net basis in 2025 after losing another 16,700 in the final three months.

Annual results showed underlying earnings declined 0.4% over the year to £3.9 billion following a 2.4% fall in the final quarter.

With the recent deal with business-to-business provider Daisy excluded, it said earnings grew 0.9% over the year and dropped 1.3% over the last three months.

Virgin Media O2 warned of sharper declines in the year ahead as “challenging market conditions” are set to persist.

It is forecasting a fall in underlying earnings of 3% to 5%, excluding its acquisition of Daisy, whilst underlying total service revenues are also expected to decline by 3% to 5%.

Virgin Media O2 and Lancashire-based Daisy Group last year merged their business communications and IT operations to form a telecommunications company with sales of approximately £1.4 billion a year, called O2 Daisy. Virgin Media O2 has attributed the reduced sales forecast to “reflects heightened promotional intensity and ongoing uncertainty in the consumer fixed market, alongside the planned streamlining of the business-to-business product portfolio”.

The company plans to implement cost savings to counterbalance the effects.

Lutz Schuler, CEO of Virgin Media O2, stated: “While we expect challenging market conditions to continue in 2026, we are well positioned to seize the right opportunities in each of our business areas – consumer, business-to-business and wholesale – and the foundations we’re putting in place today will help to build long-term customer trust and fuel future profitability and cash generation.”

Virgin Media O2 was established in 2021 following the £31 billion mega merger between Virgin Media, owned by Liberty Global, and O2, the network owned by Spanish competitor Telefonica.

On Wednesday, Liberty Global, Telefonica and private equity firm InfraVia collaborated to purchase British alternative fibre company Substantial Group for £2 billion.

The consortium stated that the joint venture deal will bolster its position in competition against BT’s Openreach, the UK’s largest fibre broadband company and network operator.

Substantial, which operates fibre network Netomnia, is projected to have over 3.4 million fibre premises and more than 500,000 customers by the time the deal concludes, according to the companies.

Nexfibre – the joint venture between Liberty Global, Telefonica and InfraVia – is acquiring Substantial in a transaction designed to extend its footprint to eight million properties nationwide by the close of 2027.

Competitors have already flagged possible competition issues surrounding the transaction.

Simon Holden, chief executive of CityFibre, commented: “There is an 80% overlap between these two players and, if the deal goes ahead, it would significantly reduce competition and the choice available to consumers, as well as force hundreds of thousands of Netomnia customers back to Virgin Media O2.”

He added: “Given the scale of this overlap, the CMA must thoroughly examine the deal.”

“Competition has driven lower prices, faster speeds and better services – and this deal risks re-establishing an ineffective duopoly of BT and VMO2 and undermining the significant progress the UK has made.”