JD Sports sells its majority stake in Rebecca Adlington-founded company October 29, 2024 JD Sports has sold its majority stake in a company founded by former Olympic swimmers Steve Parry, Rebecca Adlington and Adrian Turner. The Greater Manchester-headquartered retail giant, through its subsidiary JD Gyms, has held a 60 per cent stake in Bolton-based Total Swimming Group since a deal in 2022. At the time, the initial cash [...]
How Network Rail is planning to stop the ‘Euston rush’ October 29, 2024 A plan to reduce the number of passengers rushing to platforms at Euston station in London has been revealed by Network Rail. The Government-owned company is to allow passengers travelling on around 40 per cent of Avanti West Coast services from the London station to board trains 20 minutes before departure. Network Rail said this [...]
Rolls-Royce sells stake in small nuclear reactor division October 29, 2024 Rolls-Royce has sold a minority stake in its small nuclear reactor division to Czech power company CEZ. The Derby-headquartered giant has handed a 20 per cent share in Rolls-Royce SMR in a deal worth hundreds of millions of pounds. CEZ plans to build the first small modular reactor at the existing Temelin nuclear plant in [...]
Hawksmoor: Sales and profits sizzle as steak chain hunts for a buyer October 29, 2024 Sales and profit both surged at Hawksmoor during its latest financial year ahead of a potential sale which could value the steakhouse chain at £100m. The London-headquartered business has reported a turnover of £89.7m for 2023, up from the £73.9m it achieved in 2022. Newly-filed accounts with Companies House have also revealed that the firm’s [...]
Love Island host Maya Jama invests in pea milk brand Sproud October 29, 2024 Love Island presenter Maya Jama has invested in Swedish plant milk brand Sproud – which is already backed by a shareholder of Fortnite maker, Epic Games. Jama is to be a strategic advisor and public face of the company following the deal, the value and scale of which has not been revealed. Sproud’s investors also [...]
Fatface counts the cost of takeover by Next as fashion retailer enters the red October 28, 2024 Fatface slumped into the red in the aftermath of its takeover by FTSE 100 giant Next last year, it has been revealed. The Hampshire-headquartered business was acquired by the Leicester-based giant for £115.2m in October 2023. Newly-filed accounts with Companies House show that Fatface fell to a pre-tax loss of £3.2m in the 35 weeks [...]
Sky Bet: Profit slides as inflation and salary rises bite October 28, 2024 Profit at Sky Bet was slashed during its latest financial year as its operating expenses surged by almost £45m. The business behind the brand, which is owned by Flutter Entertainment, has reported a pre-tax profit of £48.9m for 2023, according to newly-filed accounts with Companies House. Its profit was hit because the firm’s operating expenses [...]
Avison Young loses over £100m as it cuts more than 200 jobs October 28, 2024 The UK arm of global commercial real estate services firm Avison Young shed over 200 jobs as its pre-tax loss almost doubled to more than £100m during 2023, it has been revealed. The Birmingham-headquartered division has reported a pre-tax loss of £101.8m for 2023, having previously posted a loss of £55.6m in 2022. Newly-filed accounts [...]
Virgin Active continues to make huge loss despite revenue passing £500m October 28, 2024 Virgin Active continued to make a huge pre-tax loss during its latest financial year despite its revenue passing £500m, it has been revealed. The London-headquartered chain has posted a pre-tax loss of £146.7m for 2023, after also reporting a loss of £147.3m in 2022. The last time the group made a pre-tax profit was the [...]
Lookers in the red after £504m take-private deal October 28, 2024 Car dealership giant Lookers slumped into the red in the year it was taken private in a deal worth more than £500m. The Cheshire-headquartered business has reported a pre-tax loss of £5m for 2023, having posted a pre-tax profit of £73.9m in 2022. The loss comes as newly-filed accounts with Companies House show Lookers’ revenue [...]
