Greggs profit hit by summer washout August 7, 2012 Britain’s largest seller of food on the go, Greggs, posted a 4.5 per cent fall in first-half profit after sales were hit by the wettest April to June period since records began. Greggs, which sells sandwiches, savouries, bread, cakes and pastries to 6m customers a week, said today it made a pretax profit of £16.5m [...]
Goldman Sachs names Lemkau M&A co-chief February 11, 2013 GOLDMAN Sachs has promoted Gregg Lemkau to jointly head its global mergers and acquisitions (M&A) team and Gilberto Pozzi to lead its M&A coverage in Europe, the Middle East and Africa (EMEA). Lemkau, head of M&A for EMEA and Asia Pacific, will work with Gene Sykes who has been sole head of the division since [...]
Subway fights for sandwich tax equality January 13, 2013 FAST food chain Subway is preparing to recommence battle with HM Revenue & Customs over the decision to charge VAT on toasted sandwiches, in a move that could reheat the furious row that surrounded last year’s pasty tax. The company has won the right to take a test case to the Court of Appeal, despite [...]
Greggs lifted by government rethink on VAT May 29, 2012 SHARES in the UK’s biggest bakery chain Greggs leapt eight per cent yesterday as businesses welcomed the government’s U-turn on its controversial changes to the so-called pasty tax. Plans in the Budget would have seen foods charged 20 per cent VAT if they were sold at “above ambient temperature”, hitting shops such as bakers, which [...]
Greggs lifted by government rethink on VAT May 29, 2012 SHARES in the UK’s biggest bakery chain Greggs leapt eight per cent yesterday as businesses welcomed the government’s U-turn on its controversial changes to the so-called pasty tax. Plans in the Budget would have seen foods charged 20 per cent VAT if they were sold at “above ambient temperature”, hitting shops such as bakers, which [...]
FTSE 100 smashes through 6,200 barrier January 24, 2013 The blue chip index edged up in early trades, and smashed through the 6,200 barrier although disappointing results from US technology behemoth Apple weighed on sentiment. The company posted record profits last night, but warned of lower revenue growth in the coming months, which sent its shares down more than 10 per cent in after-hours [...]
January Bank rates are likely to stay steady January 7, 2013 THE European Central Bank (ECB) is likely to keep interest rates on hold when it meets for its first policy meeting this year, analysts predict. “We believe the continued improvement in the forward-looking survey data will have been sufficient to stay the hand of those on the council who last month were willing to wait [...]
Greggs proposes alternative to pasty tax as rain dampens sales May 16, 2012 GREGGS stepped up its attack on the government’s proposals to add VAT to all hot takeaway food, warning they would make a “material impact” on sales and profits at the chain, sending shares falling four per cent yesterday. Chief executive Sam McMeikan said a change in the VAT levy would have a “disproportionate impact on [...]
FTSE 100 down on Italian uncertainty December 10, 2012 Concerns over the health of the Eurozone weighed on the blue chip index this morning, following Italian Prime Minister Mario Monti’s announcement that he intends to resign after the 2013 budget is approved. The FTSE 100 was trading 0.2 per cent down in early trading, led down by insurer Aviva and miner Eurasian Natural Resources, [...]
The trusted brand with personality at its core February 3, 2013 YOU may have seen Clippy McKenna’s eponymous preserves on your supermarket shelves. Her two-man show (it is just Clippy and fiancé Paul Gorman working at the business; everything else, including the actual jam-making, is contracted out) now stocks its products in some of the biggests stores – including Tesco and Harvey Nichols. After graduating as [...]