Procter & Gamble lifts sales forecast after price hikes and Covid demand for cleaning products January 19, 2022 Consumer goods giant Procter & Gamble hiked its annual sales forecast on Wednesday after a surge in Covid infections led to an invigorated demand for cleaning supplies. It marked a six per cent leap in quarterly sales, beating expectations. The company, which owns household brands such as Head & Shoulders and Ariel, reported its fabric [...]
‘John Lewis of sleep’: Eve Sleep shares sink 30 per cent despite accelerated lockdown growth January 19, 2022 Mattress retailer eve Sleep has reported lifted group revenue growth on 2019 levels with sleepy shoppers keen to opt for premium products. However the ‘sleeptailer’ saw shares sink 30 per cent on Wednesday after admitting Covid infection rates had “placed additional strain” on deliveries. The group posted two year group revenue growth of 11 per [...]
Average UK house price was £271,000 in November as 2021 prices ‘defy gravity’ January 19, 2022 UK average house prices increased 10.0 per cent over the year to November 2021, up from 9.8% in October 2021, official figures have revealed. According to the Office for National Statistics house price index, the average UK house price was £271,000 in November. This was £25,000 higher than the same time the year prior. Jamie [...]
Shipment delays for China to Europe routes soar as Omicron disruption anticipated to continue January 18, 2022 Shipment delays on China to Europe routes skyrocketed last year, with concerns that supply chain challenges could continue well into 2022. Data from supply chain visibility platform project44 found that delays on these key routes increased to 1.65 days in 2021, up 172 per cent compared to 2020. What’s more, the average 2021 shipment delays [...]
Government will take almost 400 years to complete cladding remediations at current pace of fund January 18, 2022 The government is anticipated to take almost 400 years to fix buildings affected by unsafe cladding, should works continue at their current pace. A dozen unsafe buildings – who have been registered with the government’s £5bn building safety fund – have seen remediation works completed. Out of 3,191 buildings with non-composite material cladding initially registered [...]
Halfords offers Northern line commuters e-bike loans amid 17-week Bank branch closure January 18, 2022 Cycling and motoring services giant Halfords is offering Northern line commuters free e-bike loans, as workers face a 17-week line closure. Commuters with an Oyster Card or season ticket are eligible for a free e-bike for up to a week at a time, offered on a first come, first served basis. Halfords has invited commuters [...]
ProCook outperforms UK kitchenware market following stock market debut January 18, 2022 Kitchenware brand ProCook has posted 34.6 per cent revenue growth for the third quarter, in results on Tuesday morning. The firm reported revenue growth of 104.1 per cent on a two year like-for-like basis. The retailer made its debut on the London Stock Exchange following an initial public offering at 145p per share, which valued [...]
THG earnings margin anticipated to be below market expectations as quarterly revenue up January 18, 2022 E-commerce giant THG has said its adjusted core earnings margin would fall short of market expectations, in otherwise buoyant results on Tuesday. The retail group posted a 29.7 per cent jump in fourth-quarter revenue, setting it on a good course for the year However, THG blamed adverse currency movements as it forecast that adjusted core [...]
LSE defends itself against criticism over tech firm valuations January 13, 2022 The London Stock Exchange has defended itself after criticism that it was “toxic to tech companies” by an investor in Darktrace and Deliveroo. Neil Shah, the LSE’s tech sector specialist, told The Telegraph that there were “lots of good companies achieving robust valuations in London”. Many of the tech firms that have gone public in [...]
Tower Hamlets campaigners welcome u-turn on proposed skyscraper with single fire escape January 13, 2022 Developer Ballymore has decided to delay plans for a 51-storey skyscraper with just one fire escape, after concerns from the London Fire Brigade. Campaigners had expressed outrage at the plans, which were due to go before the Tower Hamlets’ planning committee on Thursday. The Cuba Street tower was set to have 655 rooms and tower [...]
