By: Guy Taylor

Transport Reporter Guy Taylor is the Transport and Infrastructure Correspondent at City A.M. He covers anything from rail and aviation to the UK's biggest infrastructure projects.

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Revolution Beauty sees losses widen in long-awaited full year results following accounts probe

May 26, 2023

Revolution Beauty saw operating losses surge to £38.8m, up nearly £30m in its long-awaited final year results for the year ending February 2022, which had been delayed after auditors raised serious concerns over its accounts. The embattled cosmetics group saw its pre-tax earnings (EBITDA) dip by £14.2m to a loss of £0.8m. Pre-tax losses were [...]
Analysis: Do Ford and Volkswagen stand a chance in battle for China’s electric market?

May 25, 2023

Some of the world’s biggest carmakers have announced big plans to bolster their electric vehicle (EV) segments in China this year. Japanese carmaker Toyota announced major plans earlier this month to accelerate its EV push in China, on the back of a profit boost caused by an ease in the global chip shortage. Volkswagen, which has [...]
Water firm United Utilities sees profit slump but finds £310m for dividend boost

May 25, 2023

The UK’s largest water company, United Utilities, saw pre-tax profits slump by 27.7 per cent this morning whilst announcing a boosted dividend payment of £310m to its shareholders. The Washington-headquartered firm, which supplies much of the water to the north-west, said that profits had slumped as a result of inflation, which had impacted procurement costs [...]
Sweet treat for Tate & Lyle shareholders as profits jump north of £300m

May 25, 2023

Food and beverage ingredient supplier Tate & Lyle continued its strong performance this year with a 22 per cent boost in profits, as it shrugged off concerns over supply chain volatility and benefited from inflation driving up prices. The group, one of the world’s biggest producers of sweeteners such as high fructose corn syrup, made [...]
Motoring? Car industry defies Brexit warnings with EU export surge

May 25, 2023

UK car production saw its third successive month of growth in April, as easing supply chain shortages and strong exports drove growth. Car production ramped up 9.9 per cent to 66,527, 5,973 more than in April last year at the heights of the global semiconductor shortage. The SMMT said that the rise in production was [...]
UK set to win battle with Spain for multi-billion pound Jaguar Land Rover EV battery plant

May 24, 2023

The UK is set to win a battle with Spain for the production of a multi-billion pound Jaguar Land Rover (JLR) electric vehicle battery plant, which could create up to 9,000 jobs. The reports, revealed by the BBC today, say that although a deal has yet to be signed, sources have said that the engagement [...]
Excel boss says Elizabeth Line has been ‘transformational’ for City’s events industry

May 24, 2023

The chief executive of London’s largest events venue, the Excel, has hailed the Elizabeth Line today as “transformational for the city’s events industry” as the high-speed route marks its first anniversary. Jeremy Rees, the boss of the Royal Docks site, said the rail route has led to a boom in visitor numbers, with the Excel [...]
Severn Trent profits rise and forecast lifted as sector readies for ‘biggest investment period ever’

May 24, 2023

Severn Trent reported a booming full-year profits and forecast strong earnings for the upcoming year, as it anticipates the “biggest investment period the sector has ever seen.” The company said it was planning “increased capital investment of between £850 million and £1bn for 2023/24,” and saw turnover hit £2.1bn, up 11.4 per cent on the [...]
Rain, rain, go away: B&Q sales hit by UK’s miserable spring weather

May 24, 2023

B&Q owner Kingfisher saw its sales dip in the first quarter to £3.3bn, down 3.3 per cent on a like-for-like basis, as the home improvement company saw performance dampened by grim April weather in the UK and France, and ongoing inflation. Despite this, the retail giant said the results showed “resilience” to the economic climate, [...]
Hybrid working: Khan must do more to get workers back to the city centre, says new report

May 24, 2023

London’s mayor Sadiq Khan must do more to encourage workers back into the office in order to avoid a productivity slump and “unintended economic impact,” says a new report today. The report – authored by the Centre for Cities think tank – urged the government and mayor of London to reduce cost-barriers for commuters using [...]

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By: Guy Taylor

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