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Upper crust owner SSP targets European profit margin boost, shares jump
Date: December 3, 2024
(Reuters) -Upper Crust owner SSP, which runs cafes, bars and restaurants in train stations and airports in nearly 40 countries, said on Tuesday it plans to double its operating profit margin in its struggling Continental European business. London-based SSP said the performance of its biggest market in terms of sales, which accounted for 35% of...
UK business confidence lowest since COVID pandemic, IoD says
Date: December 2, 2024
By David Milliken LONDON (Reuters) – Britain’s Institute of Directors said on Sunday that optimism among its members had fallen to the lowest since the onset of the COVID-19 pandemic, following tax rises in finance minister Rachel Reeves’ first budget on Oct. 30. Investment plans and employment intentions were the weakest since May 2020 last...
UK budget shows government doesn’t understand business, says retail veteran
Date: November 28, 2024
LONDON (Reuters) – Britain’s tax raising budget shows the government does not understand business and it will drive prices higher, restrict pay and curtail investment, one of the country’s most experienced retail veterans said on Thursday. Criticism of finance minister Rachel Reeves’ Oct. 30 budget has been intense, particularly from business after she tapped companies...
EasyJet reports weaker annual profit, looks positively towards 2025
Date: November 27, 2024
By Joanna Plucinska and Yadarisa Shabong LONDON (Reuters) -EasyJet said on Wednesday that it expects its capacity to increase by 3% in fiscal 2025 after reporting a smaller-than-expected annual operating profit due to disruptions from the ongoing conflict in the Middle East. European airlines, such as Lufthansa and Air France-KLM, have struggled this year to...
Gloom spreads across UK retailers after budget tax rises, CBI says
Date: November 26, 2024
By David Milliken LONDON (Reuters) – British retailers’ optimism has fallen to a two-year low following finance minister Rachel Reeves’ first budget as they brace for higher employment costs and soft consumer demand, the Confederation of British Industry said. Reeves announced a 25 billion pound ($31 billion) increase in employment taxes in her Oct. 30...
Caterer compass group forecasts slower-than-expected growth in 2025 profit
Date: November 26, 2024
(Reuters) – British food catering firm Compass Group forecast a slightly slower-than-expected growth in 2025 profit on Tuesday after a 16% jump in the previous year on new businesses and staff returning to offices and eating at canteens. The world’s largest caterer expects high single-digit growth in underlying operating profit for the year ending September...