New Look third quarter sales jump as menswear stores prove a hit with shoppers February 9, 2016 New Look has shrugged off a tough Christmas trading period to post a jump in sales over the quarter, boosted by its website and the expansion of its new menswear standalone stores. The fashion retailer said revenue grew by 5.6 per cent in the three months to 26 December, taking revenues to £1.18bn for the year to date. Pre-tax profits rose by 38.9 per cent to £87.9m. [...]
Sophos Group share price drops despite double digit like-for-like revenue growth in third quarter February 9, 2016 Shares in Sophos Group dropped this morning despite the company achieving double digit revenue growth in its third quarter. The cybersecurity company, which floated on the London stock exchange last July, today reported revenue of $121.4m (£83.9m) for its three months ended December 2015, up 11.9 per cent on a constant currency basis compared to $115.9m the year before. [...]
UK trade deficit widens in 2015 but outlook is bright for exports February 9, 2016 The UK's trade deficit – the amount it imports over what it exports – widened last year. The deficit widened by £0.3bn to £34.7bn, the Office for National Statistics said this morning. Britain ran a £125bn trade deficit in goods compared with a £90.3bn surplus in services. However, the widening in the trade deficit was [...]
Interest rate hike more unlikely as Bank of England’s Sir Jon Cunliffe signals lending restrictions February 9, 2016 The Bank of England is likely to tighten lending restrictions rather than raise interest rates if the growth rate of credit exceeds that of GDP, a Bank official has said. Sir Jon Cunliffe said: “Given the vulnerability that already exists and the powerful drivers in the UK, particularly in the housing market, if credit began again to [...]
Cuadrilla launches appeal to frack for shale gas in Lancashire February 9, 2016 Energy firm Cuadrilla simply won't take frack off for an answer. It's beginning its appeal today against Lancashire council, who rejected two of its planning applications last June to frack for shale gas on the Fylde Coast. The hearing is expected to last five weeks and will take place at Blackpool Football Club's conference suite. [...]
Diageo sells last US wine asset Chalone Estate Vineyard to Foley Family Wines February 9, 2016 Diageo has sold off its last significant US wine assets, completing the sale of the Chalone Estate Vineyard in California. The FTSE-listed drinks giant has sold the US winery to Foley Family Wines, in a sale that doesn’t just include the Chalone Estate and Gavilian brands but also nearly 1,000 acres of land. “Chalone Estate [...]
Icap shares fall after third-quarter revenue slumps due to challenging market conditions February 9, 2016 Interdealer broker Icap saw its share price dip this morning after revealing a five per cent slump in third-quarter revenue. The company, which is plowing ahead with the sale of its voice broking business to rival Tullet Prebon, blamed “challenging” market conditions and said “risk appetite remains subdued amongst our clients as they continue to [...]
Housebuilder Redrow’s share price stutters despite record first-half results February 9, 2016 Redrow's first-half results bulldozed through a number of records as the housebuilder's revenue, profit and order book all reached new highs. The FTSE 250 firm's share price spiked 3.3 per cent higher in early trading before slumping 1.8 per cent lower to 414.60p. However, despite some share price volatility (unsurprising bearing in mind the wider [...]
Mind the skills gap: Skills shortages mean just three per cent of companies are capable of delivering their own strategies with their existing in-house team, hindering growth February 9, 2016 Skills shortages are now so serious at UK companies that less than one in 20 are able to successfully keep pace with their own strategy. According to a study released today by business transformation consultants Moorhouse, 97 per cent of the FTSE 250 board members and direct reports surveyed felt they needed new or additional skills [...]
Where do homes sell fastest in England and Wales? Reading is the hottest place for a property sale February 9, 2016 How long does it take to sell a house? The answer depends on where you live – and location makes a big impact. Home owners in Wales expect to wait three times as long as those in Reading before they can take down that “for sale” sign. With the average house selling in 64 days, [...]
