JD Sports scraps dividend as Covid-19 footfall slump hits profit September 8, 2020 JD Sports today said it would scrap its interim dividend after the sportswear brand reported a sharp fall in profit and warned of the continued impact of lower footfall. The figures JD Sports posted revenue of £2.5bn in the 26 weeks to 1 August, down 6.5 per cent on the same period last year. Pre-tax [...]
Shares in Future hit record high after rise in online traffic boosts profit September 7, 2020 Shares in Future hit a record high this morning after the publisher said it was on track to post full-year profit ahead of market expectations. The media group, which owns titles including Four Four Two, Country Life and Tech Radar, said adjusted operating profit would beat current forecasts of between £78.2m and £83.2m, marking a [...]
Virgin Atlantic to cut another 1,150 jobs after £1.2bn rescue deal September 4, 2020 Virgin Atlantic is cutting a further 1,150 jobs as part of a radical restructuring plan following its £1.2bn rescue deal. The airline, founded by Sir Richard Branson in 1984, said the cuts were a result of the “devastating” impact of the coronavirus crisis. It comes less than four months after Virgin said it was axing [...]
Construction sector growth slows as new work dries up September 4, 2020 Growth in UK construction output slowed in August as subdued order books put the brakes on the sector’s coronavirus recovery. The headline IHS Markit/CIPS UK Construction Total Activity Index registered 54.6 in August, down from 58.1 in July. It marks the third consecutive month of growth in construction output — indicated by any figure higher [...]
Berkeley Group holds guidance on robust trading despite Covid-19 hit September 4, 2020 Property developer Berkeley Group today maintained its guidance for the full year after reporting better-than-expected trading during the coronavirus outbreak. The FTSE 100 housebuilder held its forecast for pre-tax profit of £500m and confirmed its plan to return £280m to shareholders per year. Berkeley said it now expected a more even split in profit between [...]
Costa Coffee to cut up to 1,650 jobs in latest Covid-19 hit September 3, 2020 Costa Coffee today said it will cut up to 1,650 jobs as a result of the coronavirus crisis. The cuts, which are equivalent to roughly 10 per cent of the company’s workforce, mark the latest blow to the UK economy. The high street coffee chain was forced to close almost all of its 2,700 UK [...]
Capita share price jumps on reports of private equity bid September 3, 2020 Shares in Capita jumped in early trading this morning following reports the TV licence collector is being circled by private equity giant CVC Partners. The troubled FTSE 250 outsourcer has suffered a slide in profits and seen its share price fall 80 per cent this year. But European private equity stalwart CVC, which has previously [...]
Amazon to create 7,000 new UK jobs in latest expansion push September 3, 2020 Amazon today said it will create a further 7,000 new permanent roles across the UK, taking total new jobs this year to 10,000. The Silicon Valley tech giant has already added 3,000 jobs this year across its fulfilment centres, sort centres and delivery stations. The new roles will be spread over 50 sites, including corporate [...]
SSE fined £2m by Ofgem over ‘inside information’ failings September 3, 2020 SSE has been fined £2.1m by Ofgem for failing to publish inside information about the wholesale energy market. The FTSE 100 energy firm failed to publish timely information about the future availability of its generation capacity, the regulator said. This was likely to have had a “significant” effect on forward wholesale electricity prices, it added. [...]
Government accused of ‘overseeing demise’ of UK aviation September 3, 2020 Ministers have been accused of overseeing the demise of UK aviation as the sector braces for thousands of job losses and further travel restrictions. Derek Provan, chief executive of AGS Airports, which runs Southampton, Aberdeen and Glasgow, said the sector was suffering more job losses than the demise of the coal industry in the 1980s. [...]
