JD Sports sales go up but group remains aware of headwinds May 12, 2022 Sports retailer JD Sports has announced an increase in sales but said it remained aware of market volatility and possible headwinds looming ahead. In the first 14 weeks ended 7 May, JD Sports’ revenues went up 5 per cent on the same period last year, as the group was left almost unscathed by a shortfall [...]
Superdry revenue increases after customers flock back to stores May 12, 2022 UK clothing company Superdry has posted an 8 per cent increase in group revenue after customers returned to the stores post-Covid. In the 12 months ended 23 April, Superdry’s revenue increased to £600m, driven by a 59.8 per cent growth in store revenue. Proceedings derived by Superdry’s e-commerce business, on the other hand, went down [...]
Balfour Beatty ‘well positioned’ for growth as trading remains in line with expectations May 12, 2022 Construction firm Balfour Beatty has announced it is “well positioned for 2022 and beyond” as trading continues to be in line with expectations. The group said its book order was at £15.6bn at the end of March and included a £530m construction project in Maryland, US. Between January and April, Balfour Beatty’s average net cash [...]
Give visa flexibilty on short-term work stays, City lobby group demands May 12, 2022 DELAYS to visa approvals are holding back the capital, Britain’s top financial services lobby group warned yesterday. TheCityUK said that short-term visas that allow overseas workers to undertake short-term projects in London were facing delays of as long as 12 weeks to receive approval. The body said that post-Brexit rules had made the system more [...]
US aviation union calls on Menzies to guarantee workers rights post NAS takeover May 11, 2022 A US-based aviation union has called on services firm Menzies to guarantee that workers’ rights will be respected following a £571m takeover by Kuwaiti rival National Aviation Service (NAS) through subsidiary Agility. The Airport Workers United Campaign of the Service Employees International Union (SEIU) said workers were left in the dark about the deal’s details [...]
Ten Lifestyle posts loss due to higher costs and Omicron May 11, 2022 Travel concierge firm Ten Lifestyle has posted a 47 per cent slump in its earnings as a result of higher costs and the Omicron variant’s impact. In the six months ended 28 February, the group’s EBITDA went down £1.7m to £0.9m, while its cash and equivalents slumped to £5.1m. According to chief executive Alex Cheatle, [...]
TUI to reap profits in 2022 following summer travel boom May 11, 2022 TUI expects to become once again profitable in 2022 due to the expected boom in summer travel demand. In the second quarter of FY22, the holiday group’s losses before interest and taxes narrowed to €329.9m, down 47.8 per cent on the same time last year, while group revenues went up 9.5 per cent to €2.1bn, [...]
Marshalls posts record revenues as £535m Marley Group takeover reaps benefits May 11, 2022 Landscaping firm Marshalls has posted record revenues while its £535m takeover of Marley Group continues to reap the benefits. In the first four months of 2022, Marshalls’ group revenue went up 7 per cent to £201m, with £137m of public sector and commercial sales accounting for 68 per cent of the group”s total. The group’s [...]
City giant Brewin Dolphin posts £1.9bn fund inflows amid market volatility May 11, 2022 City giant Brewin Dolphin notched up £1.9bn inflows in the first half of the year as it bucked the investor jitters sparked by soaring inflation and war in Ukraine. In the six months to 31 March, the asset manager saw total income jump 4.8 per cent year-on-year to £209.5m, as profits were boosted to £48.1m, [...]
UK unions and ports slam government’s seafarer minimum wage law May 10, 2022 Both unions and the British Ports Association (BPA) have criticised the UK Government’s introduction of a seafarers’ minimum wage law, calling it “likely unworkable.” “This proposal is feeble and highly unworkable,” said Frances O’Grady, general secretary of the union TUC. “Only stronger employment legislation that boosts worker protections and stops companies firing on the spot [...]
