Astrazeneca beats forecasts due to strong drug sales in lockdown July 30, 2020 Pharmaceuticals giant Astrazeneca this morning reported better than expected second-quarter sales and profits for the second quarter due to strong sales during the coronavirus lockdown. The figures The FTSE 100-listed firm, which has signed up to produce a front-running coronavirus vaccine candidate, said product sales in the three months to 30 June reached $6.05bn. Analysts [...]
Hermes second quarter sales plunge 42 per cent amid store closures July 30, 2020 Luxury brand Hermes announced this morning that sales fell 42 per cent in the second quarter as the coronavirus pandemic forced it to close stores and pause production. The French designer group, which makes the £7,000-plus Birkin bag, said revenue in the first half of the year was down 25 per cent to €2.5bn. The [...]
Fuller’s reports £10m hit on trading due to coronavirus pandemic July 30, 2020 Pub chain Fuller, Smith and Turner said this morning it has taken a hit of more than £10m this year due to the impact of coronavirus on trading. The figures Fuller’s said revenue in the year ended 28 March was up three per cent to £333m. Profit before tax was £174.5m, including proceeds from the [...]
Prime house price growth slows to lowest rate in 11 years July 29, 2020 House price growth in global prime residential markets slowed to the lowest rate in 11 years in June as the coronavirus pandemic took its toll. The Knight Frank prime global cities index increased 0.9 per cent in the year to June, down from 2.3 per cent in March. It is the slowest rate of growth [...]
Pizza Hut hires advisers to explore insolvency agreement July 29, 2020 Casual dining chain Pizza Hut has reportedly hired advisers to explore a potential insolvency agreement, which could involve significant job cuts. Pizza Hut Restaurants has hired restructuring firm Alvarez & Marsal to weigh up a company voluntary arrangement (CVA), Sky News reported. A final decision has not yet been taken but an insolvency agreement is [...]
How badly will coronavirus hit UK house prices in 2020? July 29, 2020 Property experts hope a stamp duty holiday and relaxed lockdown restrictions will protect UK house prices from a sharp coronavirus fall this year. At the height of lockdown, experts predicted that UK house prices could fall by as much as 10 per cent this year due to the impact of coronavirus. However, chancellor Rishi Sunak [...]
Covid-19 could push up prices for online shoppers, experts say July 29, 2020 Online shoppers could face more expensive deliveries as e-commerce retailers grapple with mounting costs due to soaring demand during the coronavirus pandemic, according to the latest research. The spike in demand for home deliveries during the coronavirus pandemic has increased costs for retailers, which will eventually be shared with consumers, experts said. Online sales surged [...]
Mr Kipling owner Premier Foods reports sales jump due to surge in home cooking July 29, 2020 Premier Foods, the owner of Mr Kipling and Bisto, said sales soared during lockdown as consumers cooked more meals due to home working and the closure of restaurants and cafes. Group sales in the 13 weeks to 27 June increased 22.5 per cent compared to the previous year, with branded sales up 27 per cent. [...]
Taylor Wimpey swings to a loss in first half July 29, 2020 Housebuilder Taylor Wimpey swung to a loss in the first half of the year after costs related to the coronavirus pandemic reached £39.2m. The figures The developer’s share price fell more than seven per cent this morning as it reported an operating loss of £16.1m, compared to a profit of £311.9m in 2019, and loss [...]
Funeral provider Dignity reports profit increase due to coronavirus deaths July 29, 2020 Funeral services provider Dignity reported an increase in profits in the first half of the year due to a surge in deaths during the coronavirus pandemic. Dignity’s share price jumped more than seven per cent this morning. The figures Dignity said the number of deaths rose 23 per cent and its underlying pretax profit grew [...]
