Co-op profits soar after supermarket sells 180 pizzas for every minute of football during the World Cup September 14, 2018 Co-op's profits soared in the first half of the year after the supermarket sold more than 180 pizzas for every minute of football played during the World Cup. Sales increased to £5bn, up 10 per cent on the first half of 2017, also driven by its £143m acquisition of Nisa in May. Pre-tax profits almost [...]
Morrisons turnaround gathers pace as supermarkets posts best sales quarter in nine years September 13, 2018 Morrisons continued its turnaround as sales at the country's fourth largest supermarket soared in its best quarter for nine years. The figures The group's like-for-like sales were up 6.3 per cent in the second quarter. Revenue for the first half of the year was also up 4.5 per cent to £8.8bn compared with the same [...]
Morrisons turnaround gathers pace as supermarkets posts best sales quarter in nine years September 13, 2018 Morrisons continued its turnaround as sales at the country's fourth largest supermarket soared in its best quarter for nine years. The figures The group's like-for-like sales were up 6.3 per cent in the second quarter. Revenue for the first half of the year was also up 4.5 per cent to £8.8bn compared with the same [...]
Morrisons recovery continues September 13, 2018 Morrisons shares are lower today despite the company reporting a strong set of first-half figures. Same-store-sales for the six-month period jumped by 4.9% and second-quarter sales jumped by 6.3% – a nine year high. Stripping out one-off adjustments, profit increased by 9% to £193 million. When you factor in debt restructuring costs and charges relating [...]
Morrisons recovery continues September 13, 2018 Morrisons shares are lower today despite the company reporting a strong set of first-half figures. Same-store-sales for the six-month period jumped by 4.9% and second-quarter sales jumped by 6.3% – a nine year high. Stripping out one-off adjustments, profit increased by 9% to £193 million. When you factor in debt restructuring costs and charges relating [...]
Aston Martin set to hire experienced businesswoman Penny Hughes to lead £5bn float September 8, 2018 Former Coca-Cola executive and RBS director Penny Hughes has been lined up by Aston Martin to lead its £5bn float on the London Stock Exchange. Hughes, who has also been a director at Vodafone, Wm Morrison and Reuters Group, will become the first female chair of a British car maker, according to Sky News. The [...]
McColl’s sales still impacted by Palmer & Harvey collapse September 4, 2018 Sales at convenience retailer McColl's have struggled to pick up for another quarter as the company still grapples with the collapse of wholesaler Palmer & Harvey. The figures Total revenue in the 13 weeks to 26 August was up 0.6 per cent, but like-for-like sales slipped 0.9 per cent due to continued supply chain disruption. [...]
The revolving door of Australian Prime Ministers is a lesson for May August 30, 2018 You know the story: Australia has yet another Prime Minister. In fact, it has been 11 years since one has completed a full three-year term, and as of last week, five people have held the office in as many years. It is enough to make British politics look strong and stable. Read more: Lidington tells [...]
Drama down under as Aussies appoint new Prime Minister August 24, 2018 Australia appointed Scott Morrison as its sixth Prime Minister in less than 10 years in the early hours of this morning after Malcolm Turnbull was ousted from the role last night. Morrison was previously Australia’s Treasurer, equivalent to the UK’s Chancellor, having been first elected to Australia’s House of Representatives in 2007. He was elected [...]
Supermarket sweep: Which FTSE 100 grocer is the best buy? August 14, 2018 British supermarkets haven’t had an easy ride lately. There’s been plenty for them to worry about – the biggest being the rising cost of imports as sterling has continued to slide (the pound dropped to €1.11 and $1.28 last week). A weak pound has tightened profit margins. And with heavy competition from discount retailers, passing [...]