Right to Buy isn’t to blame for depleted social housing stock September 10, 2024 Right to Buy created a generation of homeowners and enabled mass transfer of capital wealth from the state to the people. No wonder Labour want to abolish it, says Emma Revell Imagine you could introduce a policy which could create more than 2m new homeowners over the next 40 years. Would you do it? Or [...]
Macdonald Hotels & Resorts back in the red as cost increases bite September 9, 2024 Macdonald Hotels & Resorts slumped back into the red during its latest financial year as it battled a rise in its costs. The group, which is headquartered in East Kilbride, Scotland, has reported a pre-tax loss of £3.5m for the year to 28, September, 2023, after having posted a pre-tax profit of £44.5m in the [...]
Heinz: Price increases help sales near £1bn as inflation battle continues September 9, 2024 Sales at the UK arm of Heinz jumped towards £1bn in 2023 despite volumes decreasing after raising its prices to combat inflation in its costs, new figures have revealed. The London-headquartered division of the US giant has reported a revenue of £967.1m for the 12 months, up from the £899.7m it achieved in 2022, according [...]
Bulmers and Tennent’s owner C&C reports revenue dip after IT issues September 9, 2024 Drinks company C&C, which owns brands Tennent’s and Bulmers, has said earnings in the first half of its fiscal year have been “in line with expectations” as the group continues to recover from the software issues it experienced last year. The FTSE-250 firm said it expected net revenue to fall by three per cent for [...]
Renters rights bill must protect ‘workable’ grounds for possession, landlords warn September 6, 2024 Plans to reform renters rights must protect “clear, comprehensive and workable” grounds for possession, a landlords body has warned. The government could reportedly bring forward its new Renters Rights Bill, which was announced in the King’s Speech, as soon as next week, according to Sky News. And renters rights campaigners have urged ministers to fulfil [...]
All3Media: The Traitors maker still in the red before £1.15bn RedBird IMI takeover September 6, 2024 Turnover dropped below the £1bn mark at TV and film production powerhouse All3Media, which is behind the likes of The Traitors, in the year before it was acquired by RedBird IMI, the investment fund helmed by US media titan Jeff Zucker. The London-headquartered company was snapped up from Warner Bros Discovery and Liberty Global in [...]
Bargain hunting shoppers hit jeans brand Levi Strauss as it targets the ‘young and cool’ September 6, 2024 Levi Strauss has said bargain hunting shoppers are impacting its UK sales as it bids to target “young and cool” consumers. The Northampton-headquartered UK arm of the jeans brand added that it is starting to expand its retail partnerships in the country as “department stores continue to struggle and lose footprint”. The division made the [...]
Profit slashed in half at Swiss watch brand Swatch September 6, 2024 Profit at Swiss watch brand Swatch was cut by more than half during its latest financial year despite its sales increasing further past the £200m mark. The London-headquartered division has reported a pre-tax profit of £11.1m for 2023, down from the £23.6m it posted for 2022. According to newly-filed accounts with Companies House, Swatch has [...]
Zoopla, Confused and Uswitch owner slashes loss by almost £600m September 6, 2024 The group behind the likes of Zoopla, Confused.com and Uswitch slashed its pre-tax loss by almost £600m in 2023, it has been revealed. The London-headquartered organisation has reported a pre-tax loss of £134.9m for its latest financial year after posting a loss of £714.6m in 2022. According to newly-filed accounts with Companies House, the group’s [...]
Berkeley: On track but government housing plans require a ‘change of attitude’ September 6, 2024 Housebuilder Berkeley is on track to deliver £525m of pre-tax profit for the full year, according to an update from the firm this morning. The business, which is based in Cobham, England, said 90 per cent of this profit has already been secured through exchanged sales contracts. Berkeley also said it is “fully committed” to [...]