Lavazza: Profit doubles amid ‘unprecedented’ price rises Retail Profit at coffee brand Lavazza doubled in the UK during its latest financial year as it battled “intense pressure” on its supply chain and “unprecedented” price rises. The Uxbridge-headquartered division has posted a pre-tax profit of £3.2m for 2024, up from the £1.5m it achieved in 2023. New accounts filed with Companies House also show [...]
Blackpool Pleasure Beach to close rides as costs spiral Business High inflation, interest rates and “significant increases” in the minimum wage have made turning a profit “harder to achieve”, the owner of Blackpool Pleasure Beach has said as it fell back into the red. The attraction, which dates back to 1896, also said the rising costs will force it to close some rides this year [...]
Pukka Pies: Price rises ‘inevitable’ at chip shop favourite Business Chip shop favourite Pukka Pies has warned prices rises are “inevitable” as it battles “significant levels of power and labour inflation”. The Leicester-headquartered company said it delayed increasing its prices during its latest financial year “assess the mid to long-term implications from the underlying inflation” but has since concluded that rises should be introduced. The [...]
Vitality: ‘Why your health and life insurance premium won’t go down’ February 18, 2025 In this episode of Boardroom Uncovered, Neville Koopowitz, the chief executive of health and life insurance giant Vitality.
Heinz: Price increases help sales near £1bn as inflation battle continues September 9, 2024 Sales at the UK arm of Heinz jumped towards £1bn in 2023 despite volumes decreasing after raising its prices to combat inflation in its costs, new figures have revealed. The London-headquartered division of the US giant has reported a revenue of £967.1m for the 12 months, up from the £899.7m it achieved in 2022, according [...]
Asda continues to lose market share while grocery inflation rises for first time since March 2023 August 13, 2024 Asda and the Co-op have continued to lose market share while a rise in grocery inflation has led to overall sales increasing significantly for Tesco, Sainsbury’s and Lidl. Take-home sales at the grocers rose by 3.8 per cent in the four weeks to August 4, 2024, compared with the same period a year ago, according [...]