Adanola: Profit more than doubles at Gen Z favourite athleisure brand November 20, 2024 Profit has more than doubled at athleisure brand Adanola following a “remarkable’ year that also saw its sales surge. The Manchester-based label, which is worn by the likes of Michelle Keegan, Molly-Mae Hague and Maya Jama, has reported a pre-tax profit of £18.9m for the year to 31 March, 2024. The latest total comes after [...]
Investment bank Cavendish to open Manchester office after signing Gary Neville deal November 20, 2024 Investment bank Cavendish, which was formed through the £43m merger of Cenkos and Finncap last September, has revealed plans to expand into Manchester for the first time. The City of London investment bank has appointed Oliver Tebbutt as partner to lead the office. Tebbutt was previously a partner at Deloitte’s corporate finance team in Manchester. Cavendish will [...]
Bloom & Wild: Loyal customers help slash loss amid cost-cutting drive November 20, 2024 Bloom & Wild slashed its post-tax loss by more than 95 per cent as its focus on retaining existing customers and cutting costs started to pay off. The London-headquartered business, which which sends bouquets of flowers in boxes that can fit through a letter box, increased its adjusted EBITDA (earnings before interest, taxes, depreciation and [...]
J20-maker Britvic boosted by non-alcoholic shift before Carlsberg deal November 20, 2024 A shift towards healthier drinking patterns has driven Britvic to new heights this year ahead of its acquisition by Carlsberg. Britvic told markets this morning revenue in the year to September 30 increased 9.5 per cent to £1,89bn. Adjusted earnings before interest and tax (EBIT) increased 15.2 per cent to £250.9m, while EBIT margin increased 60 basis [...]
Hornby issues jobs warning amid Mike Ashley-led turnaround November 20, 2024 Hornby has warned that more job cuts are on the way after making a “signifiant headcount reduction” as part of its turnaround plan being aided by billionaire Mike Ashley. The Kent-headquartered company said the job losses have helped to save around £1m of annualised central costs in the six months to 30 September, 2024, while [...]
Crest Nicholson: Housebuilder pivots away from low-margin affordable homes November 20, 2024 Housebuilder Crest Nicholson has said it will trade away from low-margin sites – like affordable homes – as it looks to shore up its balance sheet after a tough year. Crest told markets this morning, it built 1,873 homes in the year ended October 31, of which 45 per cent were affordable – just under the [...]
Surging housing costs push inflation back above Bank of England target November 20, 2024 Inflation has risen back above the Bank of England’s two per cent target, the latest data has shown today. According to the latest figures from the Office for National Statistics (ONS) consumer price inflation (CPI) hit 2.3 per cent in October. The figure came in above economists projections. Economists had forecast CPI to come in [...]
Ahead of the Game: Lineker to score tax saving from company liquidation November 20, 2024 Goalhanger Films, which is co-owned by Lineker and former ITV controller Tony Pastor, has appointed a voluntary liquidator despite being a solvent company.
Starmer’s war on farmers will end in tears November 20, 2024 Farmers are busy people, often completely immersed in a lifestyle and a sector that demands their total attention and dedication. They kept going throughout the pandemic. They’ve been untroubled by the great working-from-home debate. They’ve put up with policy changes, regulatory reform, subsidy reform, Brexit checks, weather events, supply chain disruption, Whitehall bureaucracy, rising costs [...]
What Trump 2.0 means for the tax bills of UK businesses November 20, 2024 Tariffs, investment and deglobalisation: KPMG tax expert Tim Sarson takes us through what Trump's second presidency means for UK businesses.