UK property prices: Half of parents worried their children will never own a house without inheritance April 21, 2015 Even with house price growth more muted than it was, first-time buyers are still finding it hard to climb the first rung on the property ladder. Now research has shown that parents are so worried about their offspring's inability to buy a house that they think the only way they will be able to buy [...]
House of Fraser posts record sales in first year under Nanjing Xinjiekou as it ramps up international expansion April 21, 2015 House of Fraser's new owners will be toasting their decision to acquire the business, which has revealed record like-for-likes for the year. The figures Like-for-like sales at the department store were up 5.8 per cent, with gross total value (GTV) rising to £1.3bn. Profits rose £29.6m to £460.2m while adjusted EBITDA rose seven per [...]
The cost of dying: Four charts showing why we’re facing a “funeral time-bomb” April 21, 2015 We're living through a remarkable time in which "noflation" is making it increasingly cheap to live in the UK – and yet the cost of dying is soaring. The cost of a simple funeral has risen by 80 per cent in the six years to 2014, from £1,920 to £3,590, according to a new report, echoing [...]
Payday lender Wonga slips into the red as regulatory crackdowns take their toll April 21, 2015 The figures Things aren't looking good for much-maligned payday lender Wonga. Figures posted today showed it slipped into a pre-tax loss in 2014, to the tune of £37.3m, down from a profit of £39.7m this time last year, as various regulatory crackdowns took their toll on its figures. That pushed it to a net loss [...]
Associated British Foods’ share price falls as Primark sales fail to sweeten sugar business April 21, 2015 The figures Primark owner Associated British Foods (ABF) felt the pinch from falling sugar prices in its first half, with pre-tax profit across the group halving to £213m for the six months to the end of February, compared with £434m during the same period last year. The news caused shares in ABF to open three per cent down. [...]
Arm Holdings share price jumps as revenues rise 22 per cent April 21, 2015 The figures One of the darlings of the UK's tech scene has reported revenues up 22 per cent to £227.5m in the first quarter, as sales in the phones its chips power jumped. Arm Holdings, which licenses its chip designs to the likes of Apple and Samsung, said pre-tax profits had jumped 24 per cent [...]
Pets at Home VIP club soars by 270,000 as revenue growth meets expectations April 21, 2015 The figures Like-for-like revenue growth at pet supplies retailer Pets at Home grew 4.2 per cent for the year to 26 March. Total revenue climbed 9.6 per cent to £729.1m while fee income from joint venture veterinary practices soared by 30.7 per cent to £28.2m. Merchandise like-for-like revenue grew steadily by 3.7 per cent but like-for-like [...]
Credit Suisse smashes expectations in first quarter April 21, 2015 The figures Credit Suisse smashed forecasts in the first quarter with net profits up 23 per cent to SFr1.054bn (£740m) with its private bank providing a boost to the bottom line. Analysts had expected that to come in at between SFr900m and SFr1bn Swiss francs for the first three months to the end of March. Net [...]
Greek debt deadline: Greece raids cash piles to stay afloat April 20, 2015 The Greek government is forcing public sector bodies to hand over their cash reserves, as it tries to avoid running out of money while talks with international lenders drag on. The struggling Mediterranean state faces payments totalling nearly €1bn (£720m) in the first two weeks of May, as well as €1.7bn of public sector wages [...]
Everyman in £20m cinema buyout splurge with London screens in Gerrards Cross, Esher, Muswell Hill and Barnet April 20, 2015 Everyman Media Group raised £20m in a share placing yesterday, announcing it had successfully tapped up investors for funds to buy more cinemas. The group, which is listed on the Alternative Investment Market (Aim), is buying four cinemas across London, with a total of 14 screens. As a result, the group will increase the [...]