‘Recommerce’ firm MusicMagpie reports slide in profits as pandemic boom subsides March 2, 2022 Refurbished tech selling platform MusicMagpie reported a slide in profits today after a pandemic-induced boom in demand subsided last year.
Persimmon reaps rewards of climbing house prices as profit and revenue inch higher March 2, 2022 Persimmon pre-tax profit has risen by more than £180m in the past 12 months, as new home completions and average selling prices rise. The housebuilder completed 14,551 homes in the year to 31 December, up from 13,575 in 2020. While the average selling price of homes has also increased by more than £6,500 to £237,078, [...]
Shop price inflation hits highest rate in more than a decade March 2, 2022 Shop price annual inflation surged to the highest rate since November 2011 last month, as households’ concerns about the cost of living increases. The rate hit 1.8 per cent in February, an increase from 1.5 per cent in January, according to the British Retail Consortium (BRC) and NielsenIQ. Non-food inflation surged to 1.3 per cent [...]
Average UK property almost £30,000 more expensive than a year ago as house prices accelerate March 2, 2022 The average UK house price has topped £260,000 for first time, after surging by nearly £30,000 over the past 12 months. The typical property value reached £260,230 in February, Nationwide Building Society said. In cash terms, the average house price in February was £29,162 higher than a year earlier, the biggest annual cash increase the [...]
Just Eat revenue jumps a third as it mulls pulling out of Portugal and Norway March 2, 2022 Just Eat Takeaway.com enjoyed a revenue jump of more than a third in 2021, dwarfing its pandemic figure by some €1.3bn (£1bn). The Amsterdam-based delivery giant pulled in €5.3bn (£4.4bn) in the 12 months, up from €4bn (£3.3bn) in 2020 when it reaped the rewards of homebound consumers itching to eat out under lockdown restrictions. [...]
Hotel Chocolat’s profits surge following brand appeal increase in key markets March 2, 2022 Chocolate brand Hotel Chocolat has registered a surge in profits following a brand appeal increase in key markets like the UK, Japan and the US. In the 26 weeks ended 26 December, the group’s profit before tax was up 56 per cent to £24.1m, while the underlying EBITDA grew 35 per cent, from £24.9m to [...]
Jaguar Land Rover halts all sales to Russia while BMW’s Mini plant ends production due to Ukraine conflict March 2, 2022 Sales by car manufacturer Jaguar Land Rover (JLR) to Russia has been suspended following the invasion of Ukraine. The firm announced that it made the decision due to the “wellbeing” of its workforce and those “within our extended network”. Sanctions imposed on Russia have heavily restricted the ability of companies to sell goods there. JLR, [...]
City Moves: Who’s switching jobs in the Square Mile this week? March 2, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Mazars Audit, tax and advisory firmMazars has bolstered its London office with an audit and assurance partner. Joining from Mazars in South Africa where he was head of audit, Sanjay Ranchhoojee brings some two decades experience to [...]
Prime Video pumps £10m into UK TV and film career training as industry flourishes March 2, 2022 Amazon Prime Video have announced today that it will be investing £10m into a new training initiative to open up opportunities for TV and film across the UK. Under Prime Video Pathway , the streaming giant will partner with the National Film and Television School (NFTS) to establish a UK-wide academy programme as well as funding and supporting two [...]
Chancellor fails to respond to MPs’ claims NI hike will stoke inflation March 2, 2022 Chancellor Rishi Sunak has not responded to accusations from a group of MPs that scrutinises the government’s fiscal plans that the national insurance hike will stoke inflation. In a response to the Treasury Select Committee’s report on the October budget, Sunak recognised the UK’s public finances are “vulnerable to changes in macroeconomic conditions such as [...]