Tech company AdEPT announces higher revenue and cash generation in strong year July 12, 2022 AdEPT Technology Group reported an 18 per cent increase in revenue to £68.1m and strong cash generation after tax of £8.1m for the year ended 31 March 2022. In a solid year for the IT and communications company, gross profit increased 17 per cent, £32.4m up from £27.6m the year before. Revenue was also lower at £57.9m [...]
Totally posts record growth, exceeding market expectations July 12, 2022 Frontline healthcare provider Totally has posted a record growth this past year, exceeding market expectations. Following the pandemic’s impact, in the year ended 31 March Totally’s profits before tax increased by 1,200 per cent to £1.3m, while EBITDA went up 24 per cent to £6.2m. Revenues also shot up 12 per cent to £127.4m, while [...]
UK to get new PM on 5 September as Tory leader votes start Wednesday July 11, 2022 The UK will get its 78th Prime Minister on 5 September, with the Conservative MPs to begin the process of electing a new party leader on Wednesday. Sir Graham Brady, chair of the 1922 Committee of Tory backbenchers, this evening announced MPs would have their first vote Wednesday and a second on Thursday. A number [...]
UK windfall tax reprieve helps FTSE 100 pare back morning losses July 11, 2022 Recession fears initially gripped London markets today, but traders perked up during the afternoon session to leave the capital’s main index unchanged. The FTSE 100 was largely flat, closing at 7,196.59 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.4 per cent to [...]
Tory leadership: Zahawi says he’ll cancel Corporation Tax hike if made PM July 11, 2022 New chancellor Nadhim Zahawi has said he has already “set the wheels in motion” to cancel a planned Corporation Tax hike if made Prime Minister as he proposes a swathe of tax cuts to launch his Tory leadership bid. Zahawi told a Westminster event this afternoon that he would also cut the basic rate of [...]
Tory leadership race: Johnson refuses to ‘damage anybody’s chances’ by making endorsement July 11, 2022 Boris Johnson has said he does not want to “damage anybody’s chances” of winning the Tory leadership race by making an endorsement. The Prime Minister said he wanted to “let the party decide, let them get on with it”, after a flood of Tory MPs over the weekend announced their campaigns to become the next [...]
£134bn: Biggest rise in tax receipts since 2000 gives chancellor room to make cuts July 11, 2022 The new chancellor of the exchequer may have leeway for tax cuts, after a £134bn spike in so-called ‘stealth ‘ taxes. There was the biggest increase in receipts since the turn of the century over the last 12 months, up to £718bn, representing a 23 per cent increase on the previous year. The rise from [...]
Policy matters but it’s philosophy not details this contest should uncover July 11, 2022 The headline on our front page – about the Tories’ row over tax cuts – is not strictly correct. The argument is instead about cancelling a proposed tax hike – corporation tax’s increase to 25 per cent – or reversing another recent increase, to national insurance. Alas that nuance doesn’t fit into a headline, so [...]
UK consulting sector grows 18 per cent as firms deal with post-Covid fallout July 10, 2022 The UK’s consulting sector grew by 18 per cent in 2021 and is forecast to experience further strong growth this year, the Management Consultancies Association (MCA) has said. According to the group’s latest Annual Industry Report, many businesses kick-started new projects last year which had previously been delayed while others focused on digital transformation and [...]
EDF cyber security ‘shortfalls’ see energy giant placed under further monitoring July 10, 2022 FRENCH Power Giant EDF is being scrutinised by the UK’s Office for Nuclear Regulation (ONR) after it identified shortfalls in the firm’s cyber security defences. Following a number of routine inspections over the past year, the regulator said it had found “shortfalls in governance, risk and compliance and certain technical controls” at EDF and that [...]