RUDD’S 50TH BRINGS BIG BUSINESS TO SOMERSET June 19, 2011 THE SOMERSET economy received a much-needed boost over the weekend, when local taxis, security firms and caterers were booked out solidly for the 50th birthday celebrations of Finsbury boss Roland Rudd at his Grade 1-listed country pile. Around 400 City leaders and friends prioritised the PR-chief’s party over George Osborne’s 40th at the chancellor’s grace-and-favour [...]
…but global boom gives Mulberry lift June 16, 2011 LUXURY handbag-maker Mulberry said it expected overseas sales to overtake those in the UK within two years yesterday, as it beat forecasts with a 358 per cent leap in pre-tax profit. Revenues from sales of its sought-after handbags and purses jumped 69 per cent to £121.6m in the past year, while profits rose to £23.3m [...]
Mulberry is still small in Asia – the luxury sector’s gold rush town June 16, 2011 IT is rare for a company to perform quite so spectacularly on almost every count. Group revenue was up almost 70 per cent; pre-tax profit was up an unbelievable 358 per cent; the gross margin jumped 640 basis points to 65.4 per cent. Its cash pile is almost twice the size at £21.4m. We could [...]
OUT OF OFFICE June 15, 2011 FATHER AND SON GOLFING This week the first British Father and Son Gold Championship was announced, due to be held from July 31st at the prestigious De Vere Belton Woods course in Lincolnshire. The event joins the already-famous European version, held annually at El Rompido Golf Resort, Costa de la Luz in Spain. Entry is open to any [...]
THE WEEK AHEAD in association with GFT June 12, 2011 COMPANIES ● Today, the recently listed Glencore will release its first quarter trading statement to 31 March. On the same day, Majestic Wine and Advanced Computer Software will announce for the year. ● Carphone Warehouse and Oxford Instruments will announce on Tuesday. The latter was the first commercial spin-out company from Oxford University. Investors will [...]
It’s all about the thick end of the wedge with this summer’s footwear May 5, 2011 ONE of the great joys of summer is having an excuse to splurge on footwear. Nothing improves bare legs like a majestic heel and an open toe. Whereas every year the gladiator makes its appearance, this spring/summer’s “seventies story” is a happy one for those who like heels without the agony of the stiletto. Wedges [...]
Ted Baker to open China store March 24, 2011 Fashion group Ted Baker is to follow other British brands into China, in an attempt to tap into the country’s growing appetite for luxury Western goods. The announcement came as the company posted healthy annual profit figures. For the year to 29 January the group reported a sales rise of 14.7 per cent to £187.7m. [...]
Mulberry slams tax rate February 24, 2011 MULBERRY chief executive Godfrey Davis has blamed the stringent rates of tax for his refusal to open a second factory in the UK. The leader of the luxury goods retailer, famed for its handbags, said he had been put off opening a second plant to supplement Mulberry’s Somerset factory due to the impact of rising [...]
Mulberry profits from overseas growth January 21, 2011 Mulberry has seen profits rise as the luxury goods sector continues to bounce back. Pre-tax profit was £4.7m in the six months to 30 September, compared with £1.5m a year earlier. Mulberry said higher sales meant there was little end of summer season stock left to be sold at reduced prices, which maintained its profit [...]
The broker who says small firms have to come up with big solutions January 3, 2011 The conventional wisdom is that it is next to impossible for small firms to raise cash, but Phil Adams, chief executive at independent investment broker Altium, says that the picture is more complicated than that. “It is pretty straightforward to raise cash if you are a well-run high-growth firm expanding by around 15 per cent [...]