New product launches boost Finsbury Food sales February 24, 2020 Cake manufacturer Finsbury Food reported a jump in sales in its interim results driven by new product launches as the company targets growing consumer trends. The figures Group revenue increased 4.7 per cent to £159.4m, with UK bakery sales jumping 5.8 per cent. Profit before tax was up 17.9 per cent to £8.8m in the [...]
London homeowners save almost £4,000 more than renters February 21, 2020 Homeowners in London save almost £4,000 a year more than renters, according to the latest research. Renters in the capital are paying 18 per cent more each month than those that own their own homes, losing out on annual savings of £3,727. The research, which looked at the housing costs associated with a mortgage on [...]
Royal Mail shares jump on union pay proposals February 20, 2020 Shares in Royal Mail jumped this afternoon after it proposed a six per cent three-year pay deal to the Communications Workers Union in a bid to avoid strike action. The company’s share price increased 4.76 per cent after it announced its new pay proposals. Earlier this month Royal Mail said the union was preparing for [...]
Lidl to invest £1.3bn in UK store expansion February 20, 2020 Budget supermarket Lidl has announced it will invest £1.3bn in store expansion across the UK in the next two years. The German discounter – which has opened 50 new stores in the last 12 months – said this morning that it has committed to investing in growing its store portfolio in 2021 and 2020. The [...]
Victoria’s Secret to go private in $525m deal February 20, 2020 US lingerie giant Victoria’s Secret will be taken private after owner L Brands sold a controlling stake to investment firm Sycamore Partners, valuing the firm at $1.1bn. L Brands announced this afternoon that it will sell a 55 per cent stake to the private equity firm for around $525m. L Brands will retain a 45 [...]
Cushman & Wakefield enters UK’s flexible office market February 20, 2020 Commercial property agency Cushman & Wakefield has entered the UK’s growing co-working market with the launch of a new flexible workplace service. The service – named Indego – will offer landlords design and build, marketing, sales and on-site operations services under a management agreement with Cushman & Wakefield. The service was set up to offer [...]
Hays profit slumps as fee income falls February 20, 2020 Recruitment firm Hays reported a fall in profit this morning after the UK general election and a weak economy in Germany hurt revenue. The figures Like-for-like operating profit dropped 18 per cent to £100.1m, down from £124.1m in 2018, as net fees slumped two per cent to £553.1m. Profit before tax was also down 22 [...]
City of London office leasing hits all time high February 20, 2020 Office space leasing in the City hit an all time high in 2019, rising to 43 per cent of all take up across London, according to the latest research. Leasing in the City reached 6.4m sq ft last year, a jump of three per cent on the previous year. Total office leasing in London reached [...]
WH Smith removes Telegraph from railway station stores February 19, 2020 WH Smith has stopped selling the Telegraph in some of its branches following a dispute over prices. The decision to stop selling the newspaper in its railway station shops comes after the Telegraph increased the price of its daily, Saturday and Sunday editions earlier this month. However, the newspaper publisher has not yet increased the [...]
Polish billionaire Dominika Kulczyk snaps up Knightsbridge property for £57.5m February 19, 2020 Polish billionaire Dominika Kulczyk has reportedly snapped up a luxury property in Knightsbridge for £57.5m. Kulczyk, one of the richest people in Poland, bought the Georgian redevelopment near Harrods from residential developer Mike Spink, after taking control of the Farringdon Property Trust, Bloomberg reported. The deal signals a pickup in London’s luxury residential market transactions. [...]
