Low-cost cakes beat Brexit blues as Patisserie Valerie’s owner reports profits and revenue are still growing November 29, 2016 Economic uncertainty doesn’t stop consumers from indulging in inexpensive cakes, the owners of Patisserie Valerie have found. Patisserie Holdings reported increased revenue and profits for the tenth consecutive year. The figures Revenue grew 13 per cent to £104.1m for the year ended 30 September, and online sales increased by 23 per cent to £3.8m. Profit before tax [...]
Spitfire owner lands five new pubs and draws down £25m from lenders November 29, 2016 The brewer best known for its Spitfire ale has agreed to splash-out £12m for five high-end Kent boozers. Shepherd Neame will buy Village Green Restaurants from Alex and Helen Bensley, who run the pubs in and around the garden of England. The five premises are no slouches, raking in an average of more than a million pounds of [...]
EasyHotel reveals solid growth and a “pipeline” to increase brand presence November 29, 2016 EasyHotel shares increased over one per cent as the "super budget" hotel brand announced the weak pound has created a strong market for inexpensive tourism in the UK. The figures Total system sales have increased 6.8 per cent to £21.3m from £20.0m in 2015, according to EasyHotel's final results for the year ended 30 September Read more: All eyes [...]
Topps Tiles shares lead the way on the small cap today November 29, 2016 Topps Tiles' shares were the best performers on the FTSE Small Cap today, jumping four per cent in trading after revealing its full-year financial performance. The figures Annual revenues nosed up just 1.3 per cent to £215m but profit before tax jumped 7.8 per cent to £22m. Gross margins – the incremental additional profit made on each unit sold [...]
Don’t listen to the “cabal” of elites trying to keep us in the EU, says Wetherspoon boss November 29, 2016 The boss of Britain's largest pub chain has attacked a "cabal of politicians and elite groups… fighting to overturn the [Brexit] decision" comparing them with "undemocratic and totalitarian" regimes of the past. Wetherspoon's chairman and founder Tim Martin, who was vocal in campaigning for Britain to leave the EU in the run-up to the Brexit vote, warned [...]
John Lewis just had the biggest week in its trading history with nearly £200m in sales thanks to Black Friday November 29, 2016 The jury may be out on the winner of the Christmas ad battle, but John Lewis has other reasons for festive cheer. The retailer has just revealed sales of £199.8m, up 6.5 per cent year-on-year, for the week up to 26 November. Spurred on by Black Friday and its price matching efforts on the "Never [...]
Iceland Foods wants to thaw dispute after Iceland the country announces legal action against the supermarket November 29, 2016 Iceland the country got a bit frosty with Iceland the retailer last week. And now Iceland Foods is seeking to smooth over any grievances, saying it seeks "peaceful coexistence" with the country. In a statement, the company said: "Following the regrettable outbreak of legal and verbal hostilities last week, the UK retailer Iceland Foods is urgently seeking [...]
Surely it was only a matter of time? Motorpoint breaks ranks and reveals Brexit impact November 29, 2016 Car dealer Motorpoint's share price fell three per cent this morning after blaming a "disappointing" first half of the year on the Brexit vote. The figures Revenue jumped 11.5 per cent to £408.9m in the six months to September. But operating profits flopped nearly a third – down from £10.3m to £7.0m. Motorpoint managed to keep its [...]
Merlin Entertainments reports strong Halloween period and says it’s on track to meet profit expectations in 2016 November 29, 2016 Alton Towers owner Merlin Entertainments said it's on track to grow profits and meet expectations for this year, in a trading update published this morning. The leisure group said its theme parks operating group "enjoyed a strong Halloween period", which was helped by good weather. In its midway attractions operating group, underlying trading has remained consistent with [...]
Shoppers spent over £2bn using Visa cards on Black Friday November 29, 2016 UK shoppers spent more than £2bn using Visa cards on Black Friday this year. The figure was up 13 per cent on last year's, and half of the spend was made online. Visa said that there has also been a strong uptake in contactless payments, across all age groups. Among those aged between 55 and [...]