Motorpoint takes hefty profit hit due to low consumer confidence November 28, 2019 Profit at Motorpoint, the UK’s largest independent vehicle retailer, fell nearly 20 per cent this morning as the company struggled with lower consumer confidence. Shares in Motorpoint were up 2.3 per cent this morning. Read more: Amigo shares jump as it boosts customer numbers and loan book The figures Profit at the car seller fell [...]
Reach 4 Entertainment triples profits ahead of ‘significant’ coronavirus impact June 29, 2020 Theatre marketing firm Reach 4 Entertainment (R4E) tripled its profits in 2019, as the group posted strong annual results ahead of the coronavirus crisis, which it expects will have a “significant impact” on the live entertainment industry. The results R4E posted full-year revenues of £135.4m for 2019, up from £76.7m last year. Adjusted earnings before [...]
Rival firms prepare to scoop up Huawei market share after government ban July 14, 2020 Rival telecoms firms welcomed the government’s announcement today that the UK will ban new Huawei products from its 5G infrastructure from next year, in a move that could signal a “gold rush” as alternative vendors scramble to scoop up Huawei’s market share in the UK. Speaking in the House of Commons today, culture secretary Oliver [...]
Marketing budgets return to growth after General Election boost January 15, 2020 UK marketing budgets returned to growth in the fourth quarter as an easing of political uncertainty encouraged businesses to splash out on campaigns. A net balance of four per cent of firms lifted their total budgets in the last three months of 2019, according to new figures from the Institute of Practitioners in Advertising (IPA). [...]
FTSE 100 drops as investors turn to Jackson Hole August 26, 2020 The UK’s FTSE 100 stock index was flat this afternoon as investors awaited a speech by US Federal Reserve chief Jay Powell tomorrow. It was down 0.01 per cent 6,035 points mid-afternoon. The FTSE 250 index of smaller companies rose 0.6 per cent, however. Read more: Jackson Hole symposium: All eyes on Fed chair Powell [...]
Daily Mail owner DMGT reports plunge in profit as coronavirus hammers publishing sector July 23, 2020 The publisher of the Daily Mail newspaper has reported a 44 per cent plunge in operating profit for the nine months to June after growth in the first five months of the year was wiped out by the Covid-19 pandemic. Daily Mail and General Trust (DMGT) reported adjusted operating profit of £63m for the nine [...]
Coronavirus: Government plans to advise anyone with a minor fever to self-isolate March 9, 2020 The chief medical officer has said the government is planning to advise anyone with a minor respiratory tract infection or fever to self-isolate for seven days to delay the spread of coronavirus. In a press conference with the Prime Minister and chief scientific adviser Sir Patrick Vallance, Professor Chris Whitty said the advice will come [...]
Strong economic recovery from coronavirus pandemic predicted June 1, 2020 A strong economic recovery following the coronavirus pandemic is likely, with conditions ripe for a quick turnaround, a report published today said. The unusual nature of this recession could be a silver lining for recovery, the report by Oxford Economics said. GDP has fallen because of a planned, partial economic shutdown, so in theory activity [...]
FTSE 100 rises as retail sector prepares to reopen May 26, 2020 The UK’s FTSE 100 closed higher after investors welcomed Boris Johnson’s plans for the phased reopening of the retail sector. London’s blue-chip index closed 1.28 per cent at 6,069 points, as the retail sector prepared to re-open in mid-June. In the Downing Street briefing last night, the Prime Minister said there will be a formal [...]
Taxation post COVID19 June 15, 2020 Following global lockdown the UK went into defensive and offensive mode with the furlough scheme, loans and other government support for almost every business and sole trader. But that has seen a reasonably strong economic outlook disappear almost entirely for some businesses in the short space of 3 months. In turn this has resulted in [...]