Profit jumps at Upper Crust owner SSP despite sluggish European performance December 3, 2024 In the 2024 financial year, the firm's operating profit jumped by 23 per cent to £206m, up from £167m last year. Pretax profit rose by 35 per cent.
Tom Kerridge warns Budget tax hike will have ‘catastrophic’ effect on hospitality firms December 3, 2024 Tom Kerridge has warned that the government's tax hikes will have a "catastrophic" impact on many hospitality firms in the new year.
Festive period off to a ‘bad start’ for retail sector as sales drop December 3, 2024 The British Retail Consortium's (BRC) sales monitor showed that sales volumes fell 3.3 per cent in the year-to-November, compared to a 2.3 per cent increase last year.
Business confidence takes ‘decisive turn for the worse’ after Budget, says CBI December 2, 2024 The Confederation for British Industry's (CBI) growth indicator showed that more firms expected activity to fall in the three months to February than to increase.
Topps Tiles hits back after major shareholder calls out ‘costly blunders’ December 2, 2024 Topps Tiles has hit back after a major shareholder called for an overall of its top team and strategy following a series of “costly blunders”. The London-listed company has issued a statement in the wake of the managing director of Austrian investment company MS Galleon, Piotr Lipko, writing to Topps Tiles’ chair Paul Forman last [...]
Budget could wipe out 125,000 jobs in family businesses December 2, 2024 The government’s move to limit inheritance tax relief for family-owned businesses could cost Britain roughly 125,000 jobs and significantly reduce economic activity, new research has found. The change unveiled in Labour’s first Budget could reduce the value of goods and services produced across the UK economy by £9.4bn and incur a £1.3bn net loss for [...]
‘Losing faith’: Just one in four bosses has confidence in government December 2, 2024 Just one in four bosses has confidence in the government to deliver economic growth, in a sign firms are “losing faith” in ministers’ strategy. A London Chamber of Commerce and Industry (LCCI) snap poll found 81 per cent of business leaders said they were not confident the government will address firms’ concerns. While 77 per [...]
Peel Hunt swings back to profit despite Budget hit to dealmaking November 29, 2024 City broking group Peel Hunt said it swung back into profit in the first six months of its financial year today despite the Budget weighing on dealmaking in the City. In its half year results, the London listed investment bank posted a pre-tax profit of £1.2m, a 250 per cent rise on the £800,000 loss [...]
Travelodge turns to robot vacuums amid budget hotel chain facing £21m costs hike November 28, 2024 Travelodge has revealed it is facing a £21m hike in costs in 2025 following Chancellor Rachel Reeves’ Budget. The budget hotel group has warned it will see the increase because of the combined impact of another minimum wage hike in April as well as a higher rate of employer national insurance set to push up [...]
Consumer confidence in the economy dips following Budget November 28, 2024 The British Retail Consortium's (BRC) sentiment monitor showed that consumers' confidence in the economy fell back to -19 in November, down two points from October.