Seabrook: Crisps brand issues warning over Rachel Reeves’ tax hikes May 22, 2025 The company behind crisps brand Seabrook has warned Chancellor Rachel Reeves’ Autumn Budget tax hikes will have an impact on its bottom line this year. The Cheshire-based UK arm of Japanese giant Calbee pointed to the increase in the National Living Wage and employers’ National Insurance contributions, which came into affect in April, as key [...]
Pepco to sell off Poundland business by September – for £1 May 22, 2025 Discount giant Pepco is set to sell its Poundland business by September as the brand struggles with high costs and low sales. In an update to markets this morning, Pepco said Poundland continued to see “challenging trading conditions” with revenue down 6.5 per cent in the first half of the year. The discount chain now [...]
Hisense: Sales surge by over £70m but brand issues warning May 22, 2025 Sales at the UK arm of Hisense, the Chinese appliances and electronics manufacturer, jumped by more than £70m last year, it has been revealed. The Leeds-headquartered division has reported a turnover of £373.8m for 2024, a sharp rise from the £300.4m it posted for 2023. New accounts filed with Companies House also show that Hisense’s pre-tax [...]
Reeves’ impossible mission to save the public finances – in four charts May 22, 2025 Government borrowing spiked in April, according to official data, in a stark illustration of the difficult fiscal tightrope that the Chancellor Reeves is walking. The £20.2bn in monthly borrowing was steeper than economists’ prediction of £18bn. So, Reeves might have shivered when she heard Keir Starmer tell the House of Commons winter fuel payments would [...]
Mitchells & Butlers: Profit at All Bar One owner jumps as Brits keep spending May 22, 2025 All Bar One owner Mitchells & Butlers has reported half-year profit ahead of the market despite significant cost headwinds. The All Bar One and Harvester owner told markets this morning that total revenue reached £1,454m in the 28 weeks ended April 12, up four per cent year on year. Operating profit rose 10 per cent to [...]
BT ups dividend as firm refocuses on the UK May 22, 2025 BT has upped its dividend to shareholders as the telecoms giant reported a rise in profits. The FTSE 100 company has declared a final dividend of 5.76p per share, bringing its full-year dividend to 8.16p, an increase of two per cent on the previous year. The firm’s policy is to at least maintain or increase [...]
Exclusive: E1 Series set for London debut in showcase on Thames May 22, 2025 Electric powerboat series E1, which features teams owned by stars including Will Smith, LeBron James and Rafael Nadal, will make its London debut this summer. An exhibition of E1’s high-speed RaceBird boats is set to take place on the Thames near Westminster on 2 July as the series looks to build its presence in the [...]
Tate & Lyle lifts profits as CP Kelco deal kicks in May 22, 2025 Tate & Lyle has posted a rise in profits and free cash flow for the year to 31 March 2025, as the FTSE 250 firm integrates its $1.8bn acquisition of ingredients maker CP Kelco and declares its long-running transformation “complete”. The sweetener producer reported a four per cent increase in earnings before interest, tax, depreciation [...]
Investec rakes in £1bn profit after lending and deposit boost May 22, 2025 Investec’s profit soared to more than £1bn in its latest financial year after increased lending and deposits bolstered its revenue. The FTSE 250 bank recorded a 7.8 per cent annual jump in operating profit to just over £1bn for the year to 31 March, 2025. This beat the bank’s own upgraded forecast in March, where [...]
London defies ‘Awful April’ slump with more job postings May 22, 2025 London was one of two regions across the UK to have seen a rise in job postings, with fresh data suggesting businesses in the capital city defied the double whammy of tax hikes and President Trump’s tariff threats. Europe’s richest city has continued to buck the trend of low confidence felt across the country as [...]