Manufacturing firm Essentra’s revenue up after pandemic and ‘supply chain headwind’ March 18, 2022 Plastics and fibre manufacturer Essentra experienced a a spike in revenue in 2021, as it continues to weather the storm of supply chain problems impacted by the Ukraine war. The FTSE 250-listed company had an increase in overall revenue to £960m, up from £897m in 2020, representing a seven per sent rise. Its pre-tax profit [...]
GlaxoSmithKline will not begin any new clinical trials in Russia March 18, 2022 Britain’s second-biggest drug maker, GlaxoSmithKline, won’t begin any new clinical trials in Russia because of the war against Ukraine. It made the announcement following similar moves by major US pharmaceutical giants Pfizer, Merck and Eli Lilly. The UK’s biggest company in the industry, AstraZeneca, is still conducting trials – but is considering ending them, according [...]
M&S franchises remaining open in Russia is ‘buttressing Putin’s brutality’, Tory MP says March 18, 2022 Marks and Spencer has been urged to close its stores in Russia by a Conservative MP. Marks and Spencer has been urged to close its stores in Russia by a Conservative MP. The representative for Rutland and Melton, Alicia Kearns, made her comments while hosting four Ukrainian politicians on Thursday. This comes as major international [...]
UK could see double-digit inflation, chair of John Lewis warns March 17, 2022 Britain may see double-digit inflation, the chair of the John Lewis Partnership has warned. Dame Sharon White’s comments came after the UK registered inflation of five-and-a-half per cent, with the Bank of England predicting it could exceed seven percent, as to raised interest rates on Thursday. Speaking on BBC Radio Four’s Today Programme, she said: [...]
Gordon Brown joins 50 charities urging action on cost of living crisis, u-turn on ‘unthinkable’ below-inflation benefit rise March 17, 2022 Former Prime Minister Gordon Brown joined around 50 charities urging the government to urgently address the cost of living crisis, and change its mind on a below-inflation benefits rise. Pressure was growing on ministers this week not to go ahead with the rise of 3.1 per cent in the Spring statement, as inflation is set [...]
Rail franchise Govia slapped with £23.5m fine over HS1 scandal March 17, 2022 The government has slapped rail franchise Govia with a £23.5m fine over a breach of an agreement relating to High Speed One. The penalty notice for the company – run by the Go-Ahead Group (65 per cent) and Keolis (35 per cent) – was issued to the operating firm London & South Eastern Railway Limited [...]
Ceres flies flag for green hydrogen with increasing revenue in 2021 March 17, 2022 Ceres Power Holdings, which produces fuel cell and electrochemical technology, experienced a 44 per cent increase in revenue last year, in part thanks to a £179m fundraising campaign to support green energy. The firm benefited from handing out major contracts, registering a £250m in cash and investments, up from £110m in 2020. Its successful fundraiser [...]
Landscaping firm Marshalls back to pre-pandemic levels of profit March 17, 2022 Marshalls, which produces stone and concrete for landscaping, has returned to pre-pandemic levels of revenue and profit. The Yorkshire-based construction firm’s full year results for 2021 include revenue of almost £590m, a 25 per cent increase on 2020, and nearly £50m, more than for 2019, pre Covid. Its EBITDA (earnings before interest, taxes, depreciation, and [...]
Hong Kong developer swoops in with £96m steal for Vauxhall Square site March 16, 2022 Vauxhall Square in London has been sold by a Chinese developer for £96m, which is a reported discounted price of 42 per cent. A subsidiary of Hong Kong-based company the Far East Consortium International (FEC) swooped in for the 14m square-foot site, buying it off rival firm, Guangzhou-based R&F Properties, on the cheap. It was [...]
Parker Review: Almost all FTSE 100 boards now meet ambitious diversity target of at least one director from minority background March 16, 2022 Almost 90 per cent of Britain’s top companies have met ambitious goals to have more ethnically diverse boards. The secretary of state for business heralded “great strides” made in British firms, following a report by the Parker Review Committee, revealing 89 FTSE 100 firms are now more representative than five years ago. This comes after [...]
