The Savoy Hotel feels the pinch as London’s luxury market gets even more competitive August 28, 2024 The Savoy Hotel is feeling the impact of an increase in competition in London’s luxury hotel market after its pre-tax loss widened during 2023, it has been revealed. The hotel has reported a loss of £17.9m for its latest financial year, having also made a pre-tax loss of £12m in 2022, according to newly-filed documents [...]
Europcar: Airport passengers help UK sales pass milestone August 28, 2024 An increase in people hiring cars at airports helped revenue at the UK arm of Europcar surpass £400m during its latest financial year. The Leicester-headquartered division has reported a revenue of £403.8m for 2023, up from the £363.5m it posted for 2022. Newly-filed accounts with Companies House also show that its pre-tax profit jumped from [...]
McDonald’s salad supplier Agrial loses custom after price increases August 27, 2024 McDonald’s salad supplier Agrial Fresh Produce has cut its loss thanks to price increases after what it described as three years of “upheaval” due to labour shortages and soaring costs, according to newly-filed documents. The Staffordshire-headquartered company, which also owns the pre-packed salad brand Florette, cut its pre-tax loss to £5.5m in 2023 – an [...]
Weetabix sale helps snack maker Wholebake slash loss August 27, 2024 Wholebake, the company behind snack brands Brynmor, Nine and Bounce, has significantly cut its loss after selling its cereal business to Weetabix, according to newly-filed accounts. The manufacturer, which is headquartered in the Welsh town of Corwen, Debighshire, saw its pre-tax loss slashed to £1.8m in the year ending 30 March, 2024, down from £6.7m [...]
Profit slumps by over £400m at Lloyds-owned car leasing firm August 27, 2024 Profit at the car leasing company owned by Lloyds Bank slumped by more than £400m during 2023, it has been revealed. Lex Autolease, which is headquartered in London, has posted a pre-tax profit of £124.4m for its latest financial year, according to newly-filed accounts with Companies House. The new total comes after the business posted [...]
Go Ape continues climb down from Covid-19 pandemic high August 27, 2024 The financial performance of Go Ape continued its post-pandemic climb down following the “exceptional demand” it experienced as the UK came out of the Covid-19 lockdowns. The employee-owned adventure group, which is headquartered in Bury St Edmunds, Suffolk, has reported a fall in its revenue by eight per cent in 2023 to £27.5m. The decrease [...]
Rocco Forte Hotels counts cost of £1.4bn deal with Saudi Arabia’s Public Investment Fund August 27, 2024 Profit at the British hotel group co-founded by Sir Rocco Forte was cut by more than half during its latest financial year as it sold a significant stake to Saudi Arabia’s Public Investment Fund. The deal, which was first announced in December 2023, saw the PIF take a 49 per cent holding in London-headquartered Rocco Forte Hotels [...]
Dolce & Gabbana falls to fifth UK loss in a row as sales continue to fall August 27, 2024 The UK arm of Dolce & Gabbana made a pre-tax loss for the fifth year in a row as its sales were also cut. The division, which is headquartered in Worthing, has reported a pre-tax loss of £2.1m for the 12 months to 31 March, 2024, according to newly-filed accounts with Companies House. The figure [...]
Heineken’s biggest-ever price rises fail to stop slash in UK profit August 27, 2024 Heineken’s biggest-ever price rises in the UK failed to stop its profit being slashed during its latest financial year as it battled “economic volatility”. The Edinburgh-based division raised its prices in 2023 as it faced “significant inflationary pressure on input costs”, reducing consumer spending, higher labour costs and rising energy bills. According to newly-filed results, [...]
Hamleys: World’s oldest toy store closes 40 loss-making shops as sales fall August 27, 2024 Toy retailer Hamleys is hoping a new digital strategy will help turn around its falling sales after closing 40 loss-making stores last year. The brand’s holding company has reported a revenue of £51.4m for 2023, according to newly-filed accounts with Companies House, down from the £56.6m it posted for 2022. Over the same period, its [...]