C&C Group has reported an increase in profits in the first half of the financial year, even though the summer’s wet weather has impacted cider sales.The Magners owner, C&C Group, disclosed a significant rise in operating profits by 29% to £33.5 million (€40.3 million) in the six months ending 31 August. Looking ahead, the company projects profits of £66.6 million (€80 million) for the full financial year 2025 and aims for £833.5 million (€100 million) by 2027.Although there is an optimistic outlook for profits, C&C Group faced a downturn in sales during the first half of the year, recording a…
Author: Dave Antrobus
Ottolenghi has launched three new cooking sauces as part of its exclusive collaboration with Waitrose, underscoring the successful partnership between the two brands.Waitrose has shared that initial sales of the Ottolenghi range have exceeded expectations, marking a triumph for both the retailer and the renowned chef’s brand.Lucy White, who oversees world food acquisition at Waitrose, affirmed the range’s success, expressing that customer feedback has been overwhelmingly positive. She stated, “The Ottolenghi range has been a great success at Waitrose and the response from our customers has been amazing. The initial range exceeded our expectations, and we look forward to hearing…
In October, food inflation in the UK experienced a notable deceleration, dropping to 1.9% from the previous month’s 2.3%, according to the British Retail Consortium (BRC). This slowdown was particularly evident in categories like meat, fish, and tea, offering a temporary reprieve for consumers. However, the BRC has called for decisive action in the forthcoming Budget to maintain this downward trend in prices.The BRC-NielsenIQ Shop Price Index for October revealed that food inflation also eased for chocolate and sweets, attributed to retailers capitalising on seasonal promotions. Fresh food inflation declined to 1%, a decrease from September’s 1.5%, while ambient food…
In a significant move to reduce environmental impact, Ocado has partnered with the UK Refill Coalition to introduce laundry essentials into its eco-conscious Reuse range. This initiative aims to tackle the pervasive problem of single-use plastic waste in grocery shopping.From today, customers can purchase the Reuse Non-Bio Liquid Detergent and Reuse Clear Skies Fabric Conditioner, each in a 2.7-litre bottle, as part of their weekly Ocado shop. This expansion builds on the success of similar initiatives, such as the introduction of pasta and rice in reusable packaging earlier this year, which received high praise from consumers.The response from Ocado’s eco-friendly…
A Russian court has imposed a staggering $20 decillion fine on Google, a sum that surpasses the entire world’s wealth.The penalty emerges from Google’s removal of pro-Kremlin channels on YouTube, sparking tensions between Russia and the tech giant.Seventeen Russian broadcasters initiated the lawsuit, with the fine starting at 100,000 rubles and doubling daily since 2020.Despite the massive fine, Google’s global operations remain unaffected as the company declared bankruptcy for its Russian division in 2022.Russia’s legal strategy contrasts with other Western platforms like Twitter and Facebook, which have been banned outright.In a dramatic escalation of sanctions disputes, a Russian court has…
The Treasury’s bank referral scheme has been labelled ineffective, with only 5% of small businesses securing finance.Launched in 2016, the scheme mandates major banks to refer declined loan applicants to independent finance platforms.Despite facilitating over 5,000 deals, the scheme’s impact on the £4 billion quarterly SME lending is minimal.Critics highlight substantial ‘frictions’ and a lack of feedback as major flaws in the programme.Key figures argue the gap between funding needs and secured deals remains unaddressed, questioning the scheme’s efficacy.The Treasury’s bank referral scheme, initiated in 2016, is under scrutiny for its lack of effectiveness in aiding small businesses. Nine major…
Connective3 has secured a significant new contract.The UK’s leading loft storage supplier, Instaloft, chooses Connective3.Connective3 to implement a national strategy for home improvement.The agency’s expertise in home improvement was a deciding factor.This appointment expands Connective3’s impressive client list.Connective3 has successfully secured a contract with Instaloft, the UK’s foremost loft storage supplier, following a demanding competitive pitch. Instaloft, which installs over 10,000 lofts annually and employs more than 190 people, chose Connective3 for their proven track record in the home improvement sector.Tasked with delivering a comprehensive Paid Social and Pay-Per-Click (PPC) strategy, Connective3 aims to enhance national leads for home improvement…
The recent Budget has introduced significant changes impacting large retailers.Asda is set to face a rise in National Insurance contributions by £100m.These changes have prompted reactions from key figures in the retail industry.Additional operational investments are being made by Asda amidst these challenges.The impact of these changes is being closely scrutinised by industry experts.The Chancellor’s recent Budget has introduced a notable change, raising employers’ National Insurance contributions from 13.8% to 15% on earnings over £175 per week, effective from April 2025. This increase represents a £100m rise in tax obligations for Asda, described by chair Lord Stuart Rose as ‘not…
Chancellor Rachel Reeves is set to urge the Bank of England to give equal importance to climate change and economic growth.This move reverses Jeremy Hunt’s 2023 decision to downplay climate issues in the Bank’s priorities.Reeves’ approach aligns with Labour’s goal to make Britain a leading clean energy nation.Debate arises over whether the Bank should focus on climate risks amidst inflationary concerns.The decision could reshape the Bank’s mandate, influencing broader financial policy.Rachel Reeves, in her upcoming Budget, will call on the Bank of England to elevate climate change to a priority equal to economic growth. This shift seeks to overturn Jeremy…
The UK government’s 2024 budget introduces a significant £40bn tax increase, anticipated to affect economic growth.The Office for Budget Responsibility (OBR) forecasts limited economic expansion, with real growth peaking at 2% by 2025.A substantial rise in National Insurance contributions for employers is central to these fiscal measures, raising concerns among business leaders.Changes to Capital Gains Tax are particularly worrying for the technology sector, impacting high-risk investment essential for innovation.Long-term effects on investment and the business landscape remain uncertain, as the budget aims to address public finance gaps.The UK government’s 2024 budget outlines a £40bn tax hike, anticipated to slow economic…