Author: Scott Dylan

Retailers are bracing for a sharp increase in business rates as inflation data is released.Inflation dropped to 1.7%, below the Bank of England’s target for the first time in over three years.Despite this, food inflation rose to 1.9%, with business rates set to increase accordingly.The retail sector anticipates an additional £140 million in payments from this indexation.The British Retail Consortium is urgently calling for changes to address tax imbalances.Retailers in the UK are facing an impending increase in business rates following the latest inflation figures. Inflation has fallen to 1.7%, which is notably below the Bank of England’s target of…

Grainger plc, one of the United Kingdom’s leading residential landlords, has accelerated its expansion efforts with strategic property additions.The company achieved a 6.3% like-for-like rental growth, maintaining a solid growth trajectory despite a slight dip from the previous year.Occupancy rates remain high at 97.4%, demonstrating strong demand in a competitive market.Sales of non-core assets have generated significant capital, enabling further investment into growth initiatives.Grainger is set to transition to a Real Estate Investment Trust by next year, promising tax efficiencies from increased rental revenue.Grainger plc has reported impressive growth, augmenting its portfolio with over 1,000 homes within the past year.…

Vertu Motors has reported a decline in profits despite outperforming market trends, driven by higher operational costs.The dealership group plans to consolidate all its brands under the Vertu name by next spring, dropping the Bristol Street Motors and Macklin Motors brands.Increased revenues have been recorded, with a notable 5.2% rise in new car sales despite a national drop in car registrations.A strategic focus on expanding offerings from Chinese car manufacturers, amidst changing regulatory environments, is underway.Executive leadership expresses optimism for growth, supported by strategic acquisitions, a robust portfolio, and operational efficiencies.Vertu Motors, while experiencing a decline in profit margins due…

Content associated with a promotional campaign involving a popular influencer has been withdrawn amid serious allegations.In a recent development, content from a collaborative campaign featuring Heinz’s ‘Secret Sauce’ and the restaurant chain German Donor Kebab (GDK) has been swiftly removed following the arrest of popular social media influencer Yung Filly. The campaign, launched only last month, also involved internet personality Harry Pinero. However, following recent events, posts promoting the limited edition product have been taken down from both Heinz’s and GDK’s social media platforms.Yung Filly, known for his appearances on programmes like The Great Celebrity Bake Off and his substantial…

John West, a leader in the tinned fish industry, has reported its first loss in over a decade due to its pricing strategy.The company posted a £6.7m pre-tax loss despite a 4.9% increase in sales to £134.5m.The strategic decision to freeze prices amidst global inflation impacted gross profits.John West remains optimistic, highlighting the potential for new product ranges and market entry.Mark Doherty was promoted to managing director to steer future growth and export markets.John West, renowned for its dominance in the tinned fish sector, reported its first financial loss in over a decade, attributed to its price freeze strategy. The…

Heinz and German Doner Kebab have pulled their social media campaign content amidst controversy.Influencer Yung Filly’s arrest on serious allegations has led to swift action by associated brands.Posts related to the Secret Sauce campaign are no longer present on the brands’ social media.Yung Filly’s involvement with other brands has seen similar retractions.Heinz recently faced criticism over racially insensitive advertisements.Heinz, in collaboration with German Doner Kebab, had launched a social media campaign featuring a limited edition product called ‘Secret Sauce’. However, the content associated with this campaign has been removed following the arrest of social media influencer Yung Filly. The action…

British Land has finalised the purchase of seven prime retail parks for £441 million, enhancing its portfolio.The acquisition will be funded by current resources and a £300 million equity placement through accelerated bookbuild.The retail parks, with a 99% occupancy rate, promise a net initial yield of 6.7% with significant growth prospects.British Land’s recent financial update projects minor increases in portfolio values with continued rental growth.The strategic acquisition underlines British Land’s leadership in the retail park sector.British Land has secured a portfolio of seven premier retail parks for a total of £441 million. This significant acquisition reiterates British Land’s commitment to…

Pinewood Technologies showcased a notable profit increase, underlining its successful business expansion.The firm witnessed an impressive 12.4% increase in profits, reaching £14.5 million.Revenue grew by 11%, attributed to the broadened customer base and strategic initiatives.The company’s partnership with Lithia Motors facilitated the rollout of its system across UK dealerships.Pinewood aims to capitalise on global market opportunities in dealer management software.Pinewood Technologies has reported a substantial uplift in its financial performance, highlighting its successful strategies in expanding operations worldwide. In its latest half-year report, the Birmingham-headquartered firm, formerly known as Pendragon, declared a profit increase of 12.4% to £14.5 million. This…

In recent findings, a significant number of conveyancing firms have been highlighted for their lack of clear pricing policies.According to research conducted by Shaun Jardine of Big Yellow Penguin consultancy, almost half of conveyancing firms do not consistently adhere to pricing policies that are ‘clearly defined, understood, communicated and adhered to’. This survey, involving 68 firms, underscores the importance of having pricing strategies that are transparent and well managed.Jardine emphasised during a Bold Legal Group (BLG) webinar the need for staff to comprehend their firm’s pricing policies, drawing analogies from retail sectors where pricing is meticulously controlled. ‘The prices at…

In a significant legal development, a court has ruled that parties must engage in alternative dispute resolution (ADR) before their dispute over costs can proceed.This unprecedented ruling involves a former Conservative MP, Charlie Elphicke, and Times Newspapers, who have been ordered to resolve their costs argument through ADR. This decision marks a potential shift in how costs disputes may be handled in the future.King’s Bench Master Victoria McCloud, in her final judgment before retirement, articulated that failure by either Elphicke or Times Newspapers to engage in ADR would necessitate justification to the court. Should their reasoning prove insufficient, they could…