JD Sports warns weak euro will dent its margins June 17, 2015 Sports fashion group JD Sports yesterday said it has made a “strong start” in the first 19 weeks of the year despite tough comparatives with last year, having announced record annual pre-tax profits of £100m in April. In a trading update ahead of its annual general meeting yesterday, the Size? and Millets owner said the [...]
Suppliers lose out on over half of supermarket promotions June 17, 2015 Suppliers of everyday products to supermarkets are losing money on 60 per cent of promotions, and the situation has been getting worse, according to data gathered over three years by Nielsen. Around $500bn (£317bn) is spent on trade promotions globally each year, with makers of fast-moving consumer goods (FMCG) such as Unilever often investing 20 [...]
Cake shop boss creams £12.6m June 17, 2015 Serial entrepreneur Luke Johnson (above), the former chairman of PizzaExpress, has sold about 4m shares in Patisserie Holdings, the company behind the gourmet café chain, at 312p each, earning him around £12.6m. The firm listed on Aim last year at 170p a share.
It’s jobs for the boys (and girls) as Aim turns 20 June 17, 2015 Champagne corks popped at the Artillery Garden off Moorgate last night to celebrate growth among some of Britain’s fledgling companies which have listed on the Alternative Investment Market (Aim) in the two decades since it started. The official anniversary is tomorrow, but the hundreds of brokers, bankers and city grandees could hardly wait and were [...]
Ascot racers hunt their gear on eBay (but never on the cheap) June 17, 2015 ROYAL Ascot isn’t cheap. Tickets alone can cost thousands of pounds, and that’s before you’ve bought the hat. That’s why bargain hunters have got clicking on eBay for fascinators, fedoras and Philip Treacy millinery. The global auctioning site has seen shoppers swarming for their fashion essentials. Sales of fascinators and pillbox hats are more than [...]
Shoreditch moves south June 17, 2015 ANYONE who’s anyone in tech city north of the river is renting outdoor “flexi-spaces” for meetings. Now The Office Group (Tog) is taking its concept south, opening a 20th site in the heart of Borough High Street, Southwark. City workers can drop in to use office space or book meetings for up to 16 people [...]
Asia Resource Minerals hit with £4.65m FCA fine June 17, 2015 The financial regulator has slapped a £4.65m fine on Asia Resource Minerals (Arm) for breaching the listing rules. The firm was cited by the Financial Conduct Authority (FCA) for having “inadequate systems and controls to comply with its obligations as a listed company”. This included failing to identify transactions valued at just over £8m. Georgina [...]
House insurance prices forecast to fall further as competition thrives June 17, 2015 The UK’s household insurers could swing to an underwriting loss within two years, despite recording an industry-wide profit of around £500m last year. In a report released today, audit firm Deloitte warns that increasing competition pressures are forcing household insurance prices down. Relatively benign weather conditions over the past two years have also helped keep [...]
Old Mutual to raise up to $268m in sale June 17, 2015 OLD MUTUAL yesterday increased the size of a forthcoming selldown of shares in its US money management, which could net the group $268m. The UK listed group floated the US unit, Old Mutual Asset Management (OM Asset Management), in New York last October at $14 a share. Old Mutual said yesterday it would sell 13.3m [...]
Investors toast Remy Cointreau profit June 17, 2015 Remy Cointreau posted higher than expected annual profit yesterday, despite a difficult year in China, and said it would accelerate a drive to sell higher-priced spirits to boost profit margins. The firm makes Remy Martin cognac, Cointreau liqueur – advertised by Dita Von Teese (above) – and Mount Gay Rum.
