Coffee sales drive Nestlé growth while plant-based food momentum swells February 17, 2022 Sales of coffee products have driven Nestlé’s organic growth while total reported sales hit a sum worth £69.46bn. In full-year results for 2021, the world’s largest food and beverage company said total reported sales increased 3.3 per cent to 87.1bn in Swiss currency. Organic growth stood at 7.5 per cent, driven by strong momentum for [...]
Ofcom urged to probe Royal Mail’s performance as millions of Brits are left without mail February 17, 2022 Close to 15m people were left waiting for post over the Christmas period, including 2.5m who missed important documents, health appointments, or were unable to pay a fine or bills, according to new research. More than half of those left waiting (54 per cent) reported going at least a week without letters, while 3 per [...]
Moneysupermarket revenue hit by soaring energy costs as home services impacted February 17, 2022 Price comparison website Moneysupermarket has posted a revenue loss thanks to soaring wholesale energy prices. Revenue was down eight per cent from £344.9m in 2020, to £316.7m, in results for the year ended 31 December posted on Thursday. The company said its home services had been “heavily impacted” by wholesale energy prices, while performance in [...]
Exclusive: Sustainable deodorant firm passes the smell test with £5m funding round February 17, 2022 A personal care start-up that created the UK’s first plastic-free refillable deodorant in 2019 has closed a £5m round led by the founders of Innocent Drinks and LoveFilm.
Hilton eyes return of business travel as revenue more than doubles thanks to Covid jabs February 16, 2022 The Hilton hotel empire is confident of its continued Covid recovery as it eyes the return of business travel in the coming months. Hilton Worldwide Holdings surpassed analyst’s predictions for quarterly profit and revenue in results today. It posted a 106 per cent rise in fourth-quarter revenue, with $1.84bn, compared with $890m for the previous [...]
Sadiq Khan proposes £10m London tourism cash pot to lure back visitors February 16, 2022 London mayor Sadiq Khan has proposed a £10m tourism investment pot, to be used to lure people back to the capital. Some £3m will be pumped into Khan’s £6m ‘Let’s Do London’ campaign, which City Hall claims has pulled £70m back into the city along with 280,000 visitors. Another £7m will then be used for [...]
Restaurant group Corbin & King allowed to join forces with US investment fund in shareholder row February 16, 2022 The owner of the Wolseley restaurant has edged closer to a £38m rescue package as it hopes to cut ties with its largest shareholder. Thai hotel group Minor International was hoping to be granted an injunction to block a repayment, after the shareholder forced Corbin & King into administration last month over a loan. Mr [...]
Heineken warns drinkers could cut back on beer as it prepares to hike prices February 16, 2022 Heineken has warned today that drinkers could cut back on beer as it prepares to hike its prices to offset soaring costs.
English sparkling winemaker Nyetimber marks record sales as category booms February 16, 2022 English sparkling wine giant Nyetimber reported record sales and production last year as the category continues to swell. In addition to its largest ever harvest, the company said sales in 2021 were up 55 per cent on the previous year. The brand marked a 89 per cent growth in Europe as consumers looked to the [...]
Soaring costs expected to drive people to putting homes on Airbnb February 16, 2022 Holiday rental platform Airbnb has said it anticipates bookings to hit pre-pandemic levels for the first time in the current quarter as Covid fears ease. The number of nights booked in cities in the last three months of 2021 neared 2019 levels, it said in results. The pressure of rising costs would influence individuals to [...]