Evening read: The return of indoor hospitality – all your questions answered May 18, 2021 While the basic rules are clear – that diners and drinkers can now sit inside in groups of 6, and outside in groups of up to 30 – there are areas that remain unclear. Suraj Desor is a hospitality licensing solicitor at Poppleston Allen, which advises pubs and restaurant chains in the UK. Desor has [...]
Robinsons owner Britvic reinstates dividend after tough but resilient six months May 18, 2021 Britvic’s revenue and profit slipped in the six months to 31 March, however the soft drinks retailer has decided to reinstate its dividend after a resilient performance despite Covid restrictions. Revenue at the company fell to £617.1m from £698.8m during the same period last year, and profit after tax slipped to £33.2m from £38.9m. Nevertheless, [...]
Topps Tiles reports mixed six months after lockdown closed stores May 18, 2021 In the six months to 27 March, Topps Tiles produced a profit before tax of £4m, after lockdown restrictions in the first three months of the calendar year heavily impacted the group’s performance. The retailer reported a half year of contrast this morning, with retail like-for-like sales up nearly 20 per cent in the first [...]
Footwear retailer Shoe Zone could close more stores after revenue takes a kicking May 18, 2021 Shoe Zone saw overall revenue drop to £40.4m in the six months to 3 April, down from £68.9m in the corresponding period a year earlier after lockdown measures saw revenue from physical stores plummet. In the first half of its financial year store revenue at the shoe retailer stood at just £22.8m, down from £63.3m [...]
Bringing home the bacon: Pork producer Cranswick raises dividend and Covid bonus after bumper year May 18, 2021 Bringing home the bacon: Pork producer Cranswick raises dividend and Covid bonus after bumper year
Imperial Brands on track after solid first half May 18, 2021 Tobacco giant Imperial Brands today said that it was on track to hit its full year targets after it increased its revenue in the first half of the year. The FTSE 100 firm said that revenue was up 3.5 per cent at the half year at $15.6bn, driven by a 3.2 per cent in tobacco [...]
UK faces a flakeless summer as shortage of Cadbury’s 99 looms May 17, 2021 After a year of lockdowns and staying at home the British public are faced with the threat of a shortage of Cadbury 99 Flakes. Demand for soft-serve ice creams, finished with the iconic crumbling treat, is surging. “We are seeing a recent increase in demand for our Cadbury 99 Flake in the UK and Ireland [...]
City investors dump hospitality stocks despite pubs welcoming customers back indoors May 17, 2021 England’s pubs welcomed customers back inside for the first time in months today, but investors in the City of London were less taken by the sector’s future. Worries about a possible spread of the Indian variant of Covid-19 made shareholders sell their pub stocks. Wetherspoon, Marston’s, City Pub Group and Fuller, Smith & Turner were [...]
Evening Read: The Great Reopening is well under way May 17, 2021 As Reopening Day is slowly maturing, Monday the 17th of May will most likely go down in pandemic history as a day full of positive post-lockdown news, and very mixed weather. From today, people in England can meet outdoors in groups of up to 30, and indoors in groups of six, or two households, with [...]
Private equity firm buys Gü pudding brand May 17, 2021 Private equity firm Exponent has secured a deal to buy dessert brand Gü from Noble Foods for an undisclosed fee. Gü said the deal will provide investment for the business to expand its current UK production site. Sky News reported last week that Exponent had offered £150m to buy the pudding brand. The company was [...]