Selfridges: Saudi Arabia’s PIF invests in department store group October 8, 2024 Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
Cosy Club owner Loungers reports strong growth amid new openings October 8, 2024 Cafe and bar operator Loungers has said it delivered “like for like sales growth” of 4.7 per cent, amid a string of new hospitality openings boosting its portfolio. The Cosy Club, Loungers and Brightside chains owner recorded revenue of £178.3m in the half year to 6 October, up by 19.2 per cent on the previous [...]
Swizzels Matlow: Sales near £100m at Love Hearts maker October 7, 2024 Profit at Swizzels Matlow, the maker of sweets such as Love Hearts and Refreshers, was slashed in half during its latest financial year despite its sales jumping to almost £100m. The Peak District-headquartered business has reported a pre-tax profit of £4.4m for 2023, down from the £8.2m it achieved in 2022. Newly-filed accounts with Companies [...]
Congestion charge: Ocado leads push against ‘money making’ levy October 7, 2024 More than 40 UK businesses, including Ocado, the AA, and Openreach, have urged Sadiq Khan to scrap plans to extend the £15 daily congestion charge to electric vans. The businesses argue that this hugely unpopular congestion charge if continued, would severely impact those who have invested in greener fleets. Under Transport for London (TfL)’s current [...]
Turnover rise for Kenco maker despite coffee lovers buying less after price rises October 7, 2024 Sales at Jacobs Douse Egberts, whose brands include the likes of Kenco and L’or, increased despite fewer people buying coffee after the group upped its prices. The Maidenhead-headquartered UK division of the Netherlands giant said consumers bought less coffee during its latest financial year because it rose its prices because of “exceptional levels of input [...]
Sweet Dreams for bed retailer as sales near milestone October 7, 2024 Sales at bed retailer Dreams increased towards a new milestone as its profit remained steady during its latest financial year. The Buckinghamshire-headquartered chain has reported a turnover of £395.4m for 2023, up from the £387m it achieved in 2022. Newly-filed accounts with Companies House also show its pre-tax profit dipped slightly from £50m to £49.3m [...]
Wedgwood owner slumps to loss despite strong Harrods and Selfridges sales October 7, 2024 The owner of historic fine china and porcelain brand Wedgwood has slumped into the red despite strong sales through Harrods and Selfridges. Fiskars UK, which is based in Stoke-on-Trent, is also behind the Waterford, Royal Doulton and Royal Albert brands. Newly-filed accounts with Companies House have revealed that the business fell to a pre-tax loss [...]
Mars bar maker pays huge £600m dividend after UK success October 7, 2024 The UK arm of Mars Wrigley, which makes the likes of Mars bars and Skittles, has paid out a huge dividend of £600m after a bumper financial year. The business, which has UK manufacturing sites in Slough and Plymouth, has significantly upped its dividend for 2023, after also paying out £115m in 2022. The dividend [...]
Bottega Veneta returns to the black amid interest rate and inflation woes October 4, 2024 The UK arm of Italian luxury fashion house Bottega Veneta returned to the black in 2023 despite the cot-of-living crisis cutting into its sales. The West Sussex-headquartered division has posted a pre-tax profit of £336,007 for its latest financial year, according to newly-filed accounts with Companies House. The total comes after the business reported a pre-tax [...]
Brioni: Harrods sales fail to stop cost-of-living crisis slashing profit October 4, 2024 Profit at the UK arm of Italian menswear luxury fashion house Brioni was slashed in 2023 despite its sales at Harrods helping to boost its overall turnover. The London-headquartered division has posted a pre-tax profit of £79,230 for the 12 months, down from the £370,533 it achieved in 2022. Newly-filed accounts with Companies House also show that its turnover [...]