William Hill boosts revenue after international expansion campaign May 15, 2019 Bookmaker William Hill said today it had increased its revenue after a campaign of international expansion. In a trading update for the 17 weeks to 30 April, William Hill said net revenue grew two per cent, which it said reflected a “year of transition in retail and online”. Online net revenue grew eight per cent, [...]
Cineworld maintains guidance as it looks ahead to bumper slate of films May 15, 2019 Cineworld has said it is on track to deliver full-year revenue in line with expectations, as it looks ahead to a string of hit releases later in the year. The London-based cinema chain posted a 9.4 per cent drop in revenue over the first quarter, which it blamed on the timing of major releases such [...]
Walmart mulls Asda IPO after Sainsbury’s merger blocked May 15, 2019 Retail giant Walmart has said it is considering a stock market listing for Asda, just weeks after the supermarket’s failed attempt to merge with rival Sainsbury’s. Walmart International boss Judith McKenna said the US chain is considering an initial public offering (IPO) for its UK subsidiary, but said it was “not rushing into anything”. Read [...]
DEBATE: Is the Tesco boss right to call for slashed business rates and an online tax to save the high street? May 15, 2019 Is the Tesco boss right to call for slashed business rates and an online tax to save the high street? Robert Palmer, executive director of Tax Justice UK, says YES. Tesco’s Dave Lewis is right: the way we tax high street shops and online firms isn’t working. The tax system benefits companies like Amazon and Google, [...]
B&Q owner Kingfisher sales tick upwards ahead of CEO’s departure May 15, 2019 B&Q owner Kingfisher saw sales edge higher in its latest quarter thanks to warmer weather and a weaker corresponding period last year. Read more: B&Q owner Kingfisher plans foreign market exit as French sales drag UK and Ireland sales rose 5.4 per cent in the three months to the end of April compared to the same [...]
Richer Sounds founder hands staff 60 per cent stake May 14, 2019 Employees of Richer Sounds will receive a £3.5m windfall after the entertainment retailer’s founder handed over a 60 per cent stake in the company. Read more: John Lewis considers cutting staff bonus amid profit warning Julian Richer, who founded the company as a teenager in 1978, has placed the shares into an employee ownership trust [...]
Botanical drinks startup with top City backers set for crowdfunding May 14, 2019 A botanical drinks startup which counts high-profile City veterans and celebrities among its backers is set to launch a £1m crowdfunding in its latest expansion drive. David Spencer-Percival, the serial entrepreneur who runs No.1 Rosemary Water, told City PM he is looking to lure in fresh capital amid a global product drive and the launch of [...]
Shattered: Pottery maker Portmeirion Group shares plunge 25 per cent after profit warning May 14, 2019 Shares in pottery maker Portmeirion Group collapsed this morning after the firm issued a profit warning. Read more: Renishaw shares dive after second profit warning Shares fell more than 25 per cent to 910p as the country garden-themed pottery company told investors that sales were down 10 per cent for the first four months of [...]
Pub operator Ei Group’s profits rise thanks to drinks sales boost May 14, 2019 Pub chain Ei Group has posted a modest rise in pre-tax profit for the half year thanks to continued growth in drinks sales. Ei, which is the largest owner and operator of pubs in the UK, posted pre-tax profits of £59m in the six months to the end of March, up from £57m in the [...]
Premier Foods swings to a £43m loss as it launches plant-based food range May 14, 2019 Mr Kipling maker Premier Foods is planning to tap into the success of rivals' vegan products with its own range set to launch this year, as it hopes to turn around falling profits. The figures The Hertfordshire-based company said that a £20.9m profit before tax was wiped out in the year ending in March, showing [...]
