Budget uncertainty threatens to freeze growth at small businesses October 22, 2024 A significant number of small and medium-sized enterprises (SMEs) have warned their growth ambitions may be at risk if Rachel Reeves doesn’t prioritise their concerns in the upcoming Autumn Budget. According to a survey of over 500 SME leaders on behalf of specialist lender Simply Asset Finance, 74 per cent said the outcomes of the [...]
Oil and gas engineer Hunting’s stock plummets as profit forecast cut October 22, 2024 Oil and gas engineer Hunting’s stock plummeted this morning after it cut its profit forecast thanks to lower oil prices. Despite reporting a 16 per cent rise in profit during the third quarter, the London-listed energy services firm flagged falling sentiment and lower client activity in the sector. “Whilst the outlook for the international and [...]
Gear4music: Music instrument retailer returns to growth October 22, 2024 Gear4music said it returned to quarterly revenue growth as the online musical instrument retailer pursued a new strategy to improve its profitability.
Shoe Zone shares slide: Profit nearly halves as costs put the boot in October 22, 2024 Affordable footwear company Shoe Zone has reported a drop in revenue and profit as weak demand and high costs weigh on the high street retailer amid a revamp of its physical estate. Revenue fell by 2.7 per cent to reach £161.3m in the year to 28 September, down from £165.7m in 2023. Profit before tax [...]
Wickes returns to growth but warns pent up DIY demand is easing October 22, 2024 Home improvement firm Wickes reported it had returned to growth over the summer today but warned its sales were likely to wane as pent up DIY demand eases in the coming months. The London-listed retailer reported a 2.1 per cent growth in revenue, or 0.4 per cent on like-for-like metrics, with retail revenue growing by [...]
Empresaria shares plummet as staffing firm warns of challenging quarter ahead October 22, 2024 In the third quarter, Empresaria reported that net fee income was down four per cent year-on-year.
Sabre Insurance: Motor insurance claims inflation continues to hit growth October 22, 2024 Motor insurer Sabre Insurance said it expects annual gross written premium growth to moderate slightly as claims inflation remains elevated.
Morgan Sindall: Profit at construction firm set to surpass expectations October 22, 2024 Profits in the Fit Out division have continued to "strengthen significantly" due to exceptional volumes and will "materially exceed" expectations, it said.
Mulberry rejects ‘untenable’ second offer from Mike Ashley’s Frasers October 22, 2024 The board of Mulberry has unanimously rejected the second bid from retail giant Frasers as “untenable”. Frasers launched its first bid on 1 October for £83m, which was subsequently rejected as too low by Mulberry, and its second of £111m on 11 October. Mulberry reiterated its statement from the first time it rejected Frasers’ bid: [...]
Halfords: Customers more cautious on Autumn budget fears October 22, 2024 Uncertainty around the Autumn budget is holding back consumer confidence, Halfords warned today. This morning the retailer said group like-for-like sales ticked down by 0.1 per cent in the 26 weeks to 27 September, on strong prior-year comparatives of 8.3 per cent growth plus a wet spring. The company is on track to deliver £30m [...]
