Easyjet profit flies on soaring summer demand as pandemic recovery continues July 20, 2023 Easyjet has swung to a record pre-tax profit of £203 million, up from a £114 million loss the previous year, on the back of soaring travel demand and high ticket fares. For the three months leading up to June, the budget airline said revenues hit £2.3 billion, up 34 per cent year-on-year and giving a [...]
PensionBee hails momentum as assets surge to £3.7bn July 20, 2023 PensionBee hailed “excellent momentum” in the first six months of the year today as it closes in on profitability for the first time this year. In its first half results today, the London-listed fintech firm said its assets under administration had rocketed 38 per cent to £3.7bn while adjusted losses narrowed to £8m, down from [...]
Dunelm revenues reach £1.63bn as price cuts lure customers in July 20, 2023 Dunelm reported a revenue rise of six per cent over the past year, with the homeware retailer predicting profits to be “slightly ahead” of current market expectations. The Leicester born business said revenues reached £1.63bn in the 52 weeks to July up from £1.55bn in the same period last year. Sales growth declined -8.3 per [...]
Andy Silvester on market optimism, US wages and a real-life summer thriller July 20, 2023 Bulls are not regularly seen on the streets of the Square Mile, especially recently. It has been all too easy on my recent travels to find people casting their eyes downward when asked about the City’s prospects, as if the irritatingly grey July skies are dimming optimism before the summer holidays. What’s interesting is that [...]
Farage’s row with Coutts matters more than you might think July 20, 2023 The ongoing row between Coutts and Nigel Farage has, predictably, turned into a he-said, they-said brouhaha that does nobody any favours. But that does not mean that it isn’t worth tuning into, for the right to a bank account – and a bank’s decision on whether to give you one – does, indeed, matter. As [...]
Lime bike use soaring in London with 12 million rides since 2019 July 20, 2023 Lime has seen soaring demand for its e-bikes in London with over 12m rides since 2019 and an average monthly increase of 10 per cent, it has been revealed. Londoners have travelled nearly 30m kilometres using Lime’s e-bikes since 2019, according to a new report from the transport consultancy Steer, commissioned by the e-bike and [...]
Bank of England must keep raising rates to finally kill off inflation, City experts say July 20, 2023 The Bank of England should not yet let up on raising interest rates to ensure inflation has finally been defeated. That’s the verdict of City economists despite the Office for National Statistics today revealing the cost of living fell faster than expected to 7.9 per cent in June, down from 8.7 per cent in May. [...]
Mid-market M&A remains resilient as UK market hopes for deal surge July 20, 2023 Mid-market deal activity in the UK has remained resilient despite a fall in the overall level of deals year-on-year, according to new data from Big Four firm PwC. In the first half of the year mid-market deals worth less than £1bn increased 1.8 per cent in the UK as smaller deals remained easier to finalise [...]
IPA Bellwether: UK businesses boost sales promotions to record levels but pessimism lingers July 20, 2023 UK firms have ramped up sales promotions to an all-time high, leading to a growth in overall marketing budgets, according to the second-quarter IPA Bellwether Report released today. The report, which tracks marketing trends, revealed that sales promotions budgets have reached their highest level in the 23-year history of the survey, as more businesses increased [...]
British Business Bank chief Louis Taylor on risk: ‘Even if the worst happens, you learn’ July 20, 2023 For a man running a bank that has found itself at the centre of a fraud storm over the past two years, Louis Taylor talks warmly about the concept of risk. The state-owned British Business Bank he now runs shot to household-name status through the pandemic and enjoyed a moment in the sun as the [...]
