AIM-listed K3 Business Technology sees pandemic increase losses July 26, 2021 Software company K3 Business Technology saw a year-on-year loss of £4.3m before taxes due to the impacts of the pandemic. The Salford-based company said performance was in line with their expectations, after announcing a ‘steady’ revenue at £23.2m in the first six months ending May 31, 2021. Gross margins fell to 56.2per cent from 60.4per [...]
Admiral Taverns acquires NewRiver’s community pubs for £222m July 26, 2021 Retail and leisure property investor NewRiver is selling its Hawthorn Leisure community pub business to pub company Admiral Taverns for approximately £222.3m. Admiral boss Chris Jowsey said it was an “exciting” time for the pub brand, despite hospitality’s struggles during the Covid-19 pandemic. The portfolio comprises 674 leased, tenanted and operator-managed community pubs across England, [...]
Vaccine rollout and surging consumer spending to fuel fastest economic growth since WW2 July 26, 2021 The rapid rollout of Covid vaccines and a surge in consumer spending has prompted forecasters to improve their outlook for the UK economy. Forecasts published by EY Item Club predict that the UK economy will grow 7.6 per cent this year, the fastest pace of expansion since 1941. The recent burst in consumer spending triggered [...]
Land Rover Defender Hard Top review: The van that can July 24, 2021 The best selling car so far in 2021 is… a van. The Ford Transit Custom is currently beating the Vauxhall Corsa in the SMMT sales rankings – and by a clear margin of several thousand, too. ‘Building back better’ clearly means a focus on vehicles driven by people who build or make stuff – and now Land Rover is getting in on [...]
Tech stocks lead gains on Wall Street July 23, 2021 US stocks opened up on Friday morning driven by a rally among megacap technology shares. The blue-chip S&P 500 rose 0.54 per cent during the opening session. The Dow Jones increased 0.41 per cent, while the tech-heavy Nasdaq was up 0.4 per cent. Investors piled into tech stocks after a string of strong earnings were [...]
Euro 2020 pushes retail sales above pre-Covid levels July 23, 2021 Retail sales surged above pre-pandemic levels last month as consumers rushed back to high streets to buy products that were unavailable amid Covid lockdowns and splurged on pints during matches at Euro 2020, new figures released today reveal. The volume and value of retail sales in June were up 9.5 per cent and 10.6 per [...]
Mr Kipling manufacturer Premier Foods sales ahead of expectations July 23, 2021 Premier Foods have reported stronger than expected sales as the Mr Kipling manufacturer’s healthier ranges have proven popular with consumers. Group sales were up by 6.3 per cent compared to two years ago – at top end of Group’s expectations – while its branded sales also rose, by 9.3 per cent. The Hertfordshire-based company published [...]
Beer taps to run dry if logistics staff vote to strike July 23, 2021 As if the hospitality industry didn’t have it tough enough, industrial action could be set to make it even tougher. Union officials are warning of a ‘beer drought’ if around 1,000 workers integral to the delivery of 40 per cent of the UK’s beers vote to strike after a below-inflation pay offer. Staff at XPO [...]
Poundland owner to create 13,000 jobs as it eyes online retail expansion July 23, 2021 The Pepco Group, which owns Poundland, has tabled plans to create 13,000 new jobs across Europe over the next three years. The discount group’s boss Andy Bond told Reuters that it is betting on shoppers flocking to less expensive stores amid pandemic-induced inflation. Unlike most retailers over the pandemic, the discount chain group has not [...]
Hotel Chocolat raises £40m in bid to become ‘digital-led’ chocolatier July 23, 2021 Hotel Chocolat has raised £40m in its latest share placement, in what its boss said will help it become a ‘digital-led chocolate brand’. The British chocolatier’s placing, which was led by Peel Hunt and Liberum Capital, was oversubscribed. “The £40m growth capital raised today will be invested in our fast-growing business, furthering our aim of [...]