PensionBee doubles revenue as assets under management hit £2.6bn March 17, 2022 PensionBee has more than doubled its revenue over the past 12 months, as firm’s assets under management blossom. Assets under management have bloomed over 90 per cent to £2.6bn in the year to 31 December, up from £1.4bn in 2020. Revenue has also rocketed, from £6.3m to £12.8m, as the pandemic-era drive to get one’s [...]
Deliveroo losses widen with warnings of future cost pressures March 17, 2022 Deliveroo has reported widening losses of £131m as the food delivery firm warned of the impact of hiked costs. The firm said its core adjusted loss had widened compared to a loss of £11m in 2020, citing increased marketing spend and investment into technology. However, revenue soared 57 per cent, with food delivery apps benefiting [...]
Exclusive: Assetz to receive £1bn fund to aid small housebuilders March 17, 2022 Aros Kapital will inject over £1bn into lender Assetz Capital to fund lending to small businesses, including housebuilders, over the next three years. Aros will contribute at least £750m to lending, in addition to around £350m already pledged, an update shared exclusively with CityA.M. revealed. Thanks to the investment, Assetz is readying to offer its [...]
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 [...]
Letters: Diversity is private capital’s nut to crack March 17, 2022 [Re: International women’s day , March 9]Private capital has barriers to entry. Being a woman should not be one of them. Regardless of how you approach it, private capital is a tough industry to crack. Whether you are a founder seeking private equity or venture capital funding for your business – or looking to join [...]
Cineworld revenue skyrockets by $1bn as record-breaking blockbusters lure in viewers March 17, 2022 Cineworld revenue has skyrocketed by $1bn (£760m) in the past year, as record-breaking blockbuster releases such as Spider-Man: No Way Home lured in viewers. Revenue surged more than 111 per cent to $1.8bn (£1.3bn) in the year to 31 December, up from $852m, according to the theatre chain’s preliminary results this morning. Admissions rose over [...]
Ed Warner: This year could be huge for those with a stake in Formula 1 March 17, 2022 The rubber hits the road again this weekend as Liberty Media’s $8bn Formula 1 circus fires up its engines for the 2022 season. The tumultuous end to last year’s race series has yet to be resolved. It’s not clear whether the inquiry report will be published on the eve of the Bahrain GP as originally [...]
City Moves: Who’s switching jobs in the Square Mile? March 17, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Intuit QuickBooks Technology platform Intuit QuickBooks has hired a marketing veteran as its new UK marketing director. Based in London, Faith Wheller is set to bolster the firms growth strategy for the UK. Wheller, formerly of US tech [...]
Weathering pandemic storm: UK ad exports hit £11.7bn despite global disruption March 17, 2022 New data has revealed that international trade in UK advertising and market research services was worth £11.7bn in 2020, sustaining the same level as the pre-pandemic conditions of 2019.
Sky’s video application recruiting gimmick is a dangerous step to discrimination March 17, 2022 This week, Sky excitedly announced that it was bringing in “video applications” for people applying for jobs in its back-of-house marketing team. No more CVs, but instead the submission of a two minute video where candidates explain why they want to work on the team and what they do for fun. When I read this [...]
