FRP Advisory posts lifted revenue while restructuring administration activity still ‘subdued’ December 16, 2021 Professional services firm FRP Advisory Group has announced soaring revenue in its half year results, pushing shares up on Thursday morning. However, the advisory service said the extension of government support for businesses over most of the the first half of 2022 had “resulted in restructuring administration activity remaining subdued.” The company’s operational markets had [...]
Hospitality pleads Chancellor for support amid ‘deja vu’ of mass cancellations reminiscent of March 2020 December 16, 2021 Pubs and restaurants have condemned the Chancellor’s “silence” over support measures for businesses after mass cancellations amid a surge in Omicron Covid cases. England’s chief medical officer, Chris Whitty, said the public should be considering “de-prioritising” certain social events in order to ensure they can visit family at Christmas. Fears of the highly transmissible Omicron [...]
London offices at 10 per cent occupancy after work from home directive December 15, 2021 London offices plummeted to 10 per cent occupancy in the wake of fresh work from home guidance this week. Occupancy on Tuesday 14 December was down on the previous week’s figure of an average of 28 per cent occupancy, according to workspace technology company Freespace. The capital has been hit harder than other parts of [...]
Hammerson total gross sales proceeds hit £495m for year after contracts exchanged on Glasgow shopping centre December 15, 2021 Property developer Hammerson has exchanged or completed sales of six non-core assets for total gross cash proceeds of £92m since the half year. The development and investment firm said the largest asset was an exchange of an unconditional contract for the sale of Glasgow shopping centre Silverburn. The deal was from 50/50 joint venture partners [...]
One in three Londoners not vaccinated as Omicron sweeps capital December 15, 2021 One third of Londoners are completely unvaccinated despite warnings that the Omicron Covid variant could hammer the capital particularly hard. The proportion of the population without a single jab is three times as high in London as in the country as a whole, according to an analysis of government figures by The Times newspaper. The [...]
US investor Fortress snaps up Punch Pubs for undisclosed sum December 15, 2021 Investment group Fortress has acquired Punch Pubs from Patron Capital for an undisclosed sum. The US-based investor owned by SoftBank said it had acquired 100 per cent of the firm’s share capital on Wednesday. The pub group comprises 1,300 venues in the UK, made up of wet-led, community pubs. It is largely focused on a [...]
Zara owner Inditex posts record sales and profits as founder’s daughter prepares for top job December 15, 2021 The Spanish owner of Zara has reported sales and profits at record highs, as it continues to bounce back from a hit at the start of the pandemic. Inditex said sales and net profits were higher than pre-pandemic levels in the three months to the end of October. Shares in the retailer were down on [...]
Covid passes now required for nightclubs as trade laments ‘billions’ in lost trade December 15, 2021 Adults in England now require a Covid pass to enter nightclubs and other large events. The new rules came into force today, although almost 100 Conservative MPs voted against the government’s plans last night. All individuals over-18 are now required to show proof of two Covid jabs or a negative rapid test within 48-hours of [...]
In The Style profitability hit by supply chain disruption but fashion firm ‘confident’ in growth plans December 15, 2021 Fast fashion firm In The Style said its profitability took a hit thanks to supply chain issues as well as more shoppers returning clothes this year. The womenswear reported a drop in profit before tax, standing at £0.9m, in interim results for the six months ended 30 September. This is down on the £1.8m posted [...]
Curry’s on track to hit profit expectations despite warning of ‘further headwinds from Omicron’ December 15, 2021 Curry’s has said it expects to hit profit expectations despite any “bumpy demand” related to Covid uncertainty. In unaudited results for the half year ended 30 October, the technology retailer reported group adjusted profit before tax of £48m, compared to £40m in the same period a year prior. It marks a great leap from the [...]
