January retail sales boosted as cost of living crisis looms February 18, 2022 January retail sales volumes lifted 1.9 per cent last month while retailers prepare for consumers to limit spending as bills soar. According to the latest retail data from the Office for National Statistics (ONS), sales volumes marked the largest monthly increase since April 2021 when non-essential retailing reopened. An increase came after a four per [...]
Online grocer Ocado inks deal with French retail group February 17, 2022 Online grocery firm Ocado and French Groupe Casino have inked a formal partnership in France. The companies said they had signed a memorandum of understanding to create a joint venture to provide logistics services for grocery retailers in France. The deal also means Ocado will integrate Octopia’s marketplace platform into OSP. Tim Steiner, CEO of [...]
Coffee sales drive Nestlé growth while plant-based food momentum swells February 17, 2022 Sales of coffee products have driven Nestlé’s organic growth while total reported sales hit a sum worth £69.46bn. In full-year results for 2021, the world’s largest food and beverage company said total reported sales increased 3.3 per cent to 87.1bn in Swiss currency. Organic growth stood at 7.5 per cent, driven by strong momentum for [...]
Moneysupermarket revenue hit by soaring energy costs as home services impacted February 17, 2022 Price comparison website Moneysupermarket has posted a revenue loss thanks to soaring wholesale energy prices. Revenue was down eight per cent from £344.9m in 2020, to £316.7m, in results for the year ended 31 December posted on Thursday. The company said its home services had been “heavily impacted” by wholesale energy prices, while performance in [...]
Hilton eyes return of business travel as revenue more than doubles thanks to Covid jabs February 16, 2022 The Hilton hotel empire is confident of its continued Covid recovery as it eyes the return of business travel in the coming months. Hilton Worldwide Holdings surpassed analyst’s predictions for quarterly profit and revenue in results today. It posted a 106 per cent rise in fourth-quarter revenue, with $1.84bn, compared with $890m for the previous [...]
Housebuilders facing extra £3.2bn in construction costs this year as prices spiral February 16, 2022 UK housebuilders could face paying the hefty extra sum of £3.2bn per year as new-build construction costs are set to skyrocket. The average cost of construction for a new-build property is set to rise almost £18,000 per unit, research from property debt adviser Sirius Property Finance has revealed. Construction costs across the industry could total [...]
Restaurant group Corbin & King allowed to join forces with US investment fund in shareholder row February 16, 2022 The owner of the Wolseley restaurant has edged closer to a £38m rescue package as it hopes to cut ties with its largest shareholder. Thai hotel group Minor International was hoping to be granted an injunction to block a repayment, after the shareholder forced Corbin & King into administration last month over a loan. Mr [...]
Average house price tops £274,000 as pace of growth expected to slow February 16, 2022 House prices climbed 0.8 per cent between November and December of last year and 10.8 per cent year on year. According to the latest UK house price index from the Office for National Statistics, the average price of a property in the UK was £274,712. However, real estate experts said the high rate of growth would [...]
English sparkling winemaker Nyetimber marks record sales as category booms February 16, 2022 English sparkling wine giant Nyetimber reported record sales and production last year as the category continues to swell. In addition to its largest ever harvest, the company said sales in 2021 were up 55 per cent on the previous year. The brand marked a 89 per cent growth in Europe as consumers looked to the [...]
Primary Healthcare Properties boosts dividend after rental income rises February 16, 2022 Healthcare property investor Primary Healthcare Properties has lifted its dividend after growth in net rental income over the past year. In results for the year ended 31 December 2021, the firm posted income of £136.7m, up 4.2 per cent to £131.2m. It raised its dividend to 6.2p a share from 5.8p. Harry Hyman, chief executive, said [...]
