Greene King posts robust sales growth despite fall in profit after summer washout June 27, 2019 Pub chain operator Greene King has posted a robust rise in sales for the full year, despite a slump in profit and the impact of unseasonable weather in the first eight weeks. The figures Group revenue rose 1.8 per cent to £2.2bn in the 52 weeks to the end of April. Pre-tax profit dropped 12.5 [...]
Pizza Express losses widen amid strain on casual dining sector June 26, 2019 Pizza Express has reported hefty losses for the full year as it battles with increased competition in the casual dining sector. The restaurant chain posted a loss of £55.8m in 2018, an increase of more than 40 per cent from £31.6m the previous year. Read more: China expansion and UK troubles take slice out of [...]
UK property market: Mortgage approvals dip from 26-month April high June 26, 2019 The number of residential mortgages approved by banks dipped last month, easing back from a 26-month high in April but remaining above the monthly average. Seasonally adjusted figures show that banks in Britain approved 42,384 house purchase mortgages in May, falling from roughly 42,900 in April but beating the consensus of 41,000. Read more: London [...]
DEBATE: Is the obsessive focus from politicians on increasing home ownership misguided? June 26, 2019 Is the obsessive focus from politicians on increasing home ownership misguided? Clive Docwra, managing director of McBains, says YES. Politicians are obsessed with home ownership, including both contenders for Prime Minister. Jeremy Hunt has put a new “right to own” policy at the heart of his bid, while Boris Johnson has backed replacing Help to [...]
Revealed: The top 10 most affordable London boroughs for first-time buyers June 25, 2019 The City of London is the least affordable London borough for first-time buyers, according to new research that has ranked the capital’s best and worst spots for hopeful homeowners. Hackney, Haringey, Brent and Camden joined the Square Mile as the five most unaffordable boroughs in London based on the net wage and time taken to [...]
Carpetright shares jump as turnaround plan remains on track June 25, 2019 Carpetright has reported a narrowing of losses and a return to like-for-like sales growth for the full year as it continues to roll out its turnaround plan. Read more: Carpetright shares soar as restructuring plan starts to pay off The figures Revenue fell 13.4 per cent to £386.4m in the 52 weeks to the end [...]
Queen set for an extra £3m after strong profits for Crown Estate June 25, 2019 The Queen is set to receive a £3m revenue boost after The Crown Estate today announced its income for 2018/19 grew 4.3 per cent. The Crown Estate said it was returning £343.5m to the Treasury, up from £329.4m in 2017/18. The Royal Family is set to receive 25 per cent of that money through the [...]
City Moves for 24 June – Who’s switching jobs at Relendex, Societe Generale and IQGeo Group? June 24, 2019 Today’s City Moves includes Relendex, Societe Generale and IQGeo Group. Relendex Relendex has announced the appointment of Claire Newman as head of lending operations. Claire has joined Relendex from Masthaven Bank, where she was head of underwriting in the short-term lending department. Claire was responsible for a large department whose principle role was to underwrite [...]
Domino’s picks a Rennie after Wild excess June 21, 2019 A Rennie is a long-held cure for indigestion. Domino’s Pizza Group’s franchisees, who have been complaining that they have had as much as they can swallow of boss David Wild, should, then, welcome the fact that a Rennie is exactly what they’re in line to get. Having acknowledged in March that searches were underway for [...]
Police arrest fifth man in London Capital & Finance probe June 20, 2019 Police yesterday arrested millionaire businessman Paul Careless in connection with the collapse of mini-bond investment firm London Capital & Finance (LCF). He is the fifth person arrested as part of a Serious Fraud Office (SFO) investigation into LCF’s failure. An SFO spokesperson said: “On 19 June 2019, search warrants were executed at several properties in [...]