Used car dealer Lookers sees profits drop 10.5 per cent after record 2021 June 29, 2022 Second-hand car seller Lookers said it has maintained “strong momentum” in the first half of 2022, after its pre-tax profits dropped 10.5 per cent compared to the record performance last year. The Greater Manchester car dealership posted pre-tax profits of £45m for the first half of 2022, compared to “record” pre-tax profits of £50.3m [...]
£6.3bn takeover of aeroplane giant Meggitt heading for final approval as UK govt is ‘minded to accept’ June 29, 2022 The UK Government said it was “minded” to accept measures to address competition and national security concerns so it can greenlight the £6.3bn takeover of British aeroplane parts maker Meggitt by a US rival. The Department of Business, Energy and Industrial Strategy said late last night that Business Secretary Kwasi Kwarteng was poised to accept [...]
Fast growing UK firms shelve IPO plans amid market turbulence June 29, 2022 Fast growing UK firms are shelving plans for initial public offerings in droves as a looming recession and inflationary pressures batter public markets, a survey has revealed.
If Putin were a woman there would no ‘toxic, crazy, macho’ war in Ukraine, says Boris Johnson June 29, 2022 Russian President Vladimir Putin would not have started the “crazy, macho” war in Ukraine if he were a woman, Boris Johnson firmly believes. The Prime Minister also said that while G7 leaders “desperately” want the war in Ukraine to end, there is “no deal available”. Speaking after the G7 summit in Bavaria, Johnson told German [...]
Ofgem pledges not to raise energy bills with £20bn-plus grid upgrade June 29, 2022 Ofgem has pledged to boost grid capacity with a new £20bn-plus package, while also imposing new demands on network operators.
B&M quarterly sales dip after retailer warns shoppers could cut back amid high inflation June 29, 2022 Discount retailer B&M has seen sales plummet in its first quarter, against strong lockdown comparatives, as cash-strapped Brits cut back on discretionary spending. In a trading update for the 13 weeks from 27 March to 25 June, the London-listed business said group revenue had dropped 2.2 per cent on a constant currency basis. Across the [...]
Stagecoach returns to growth as bus journeys bounce back to 81 per cent of pre-Covid levels June 29, 2022 Britain’s biggest bus company Stagecoach today said it now in a “good financial position” after “recovering customer demand” saw passenger journeys bounce back to 81 per cent of pre-pandemic levels. The public transport operator said it had “firmly returned to growth” after its profits more than doubled year on year, from £17m in the financial [...]
Covid restrictions in China take dent to Mulberry shop and online sales June 29, 2022 Mulberry has said Covid restrictions in China have resulted in a one per cent dip in sales across its retail and digital channels so far this financial year. Stringent pandemic measures in mainland China meant the designer handbag maker was forced to temporarily shutter the majority of its stores, as well as its Shanghai distribution [...]
Capita posts ‘strong’ first half results as BBC TV licensing contract boosts outsourcer’s revenues June 29, 2022 Capita today posted “strong” results for the first half of 2022, after a series of “significant” government contracts boosted its H1 revenues. The outsourcing company said trading in the first half of 2022 sat in line with expectations, as it said its revenues were bolstered by the renewal of a £456m contract to run the [...]
Moonpig sales fall after lockdowns but card biz remains confident in gift market June 29, 2022 Moonpig has posted plummeting sales as shoppers started buying gifts and greetings cards elsewhere once bricks-and-mortar shops reopened once more over the past year. In full year results to 30 April 2022, the firm admitted its group revenue had tumbled 17.3 per cent year-on-year, standing at £304.3m versus £368.2m in 2021. The online retailer pointed [...]