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Spirax-Sarco reports ‘strong’ first half amid supply chain disruption and inflationary pressures
Engineering firm Spirax-Sarco has reported “strong” financial results for the first half of 2022 against a backdrop of supply chain disruption and rising inflation. The FTSE 100 firm, which is headquartered in Cheltenham, saw revenues rise 17% to £750.1m for the six months ending June 30, while adjusted operating profit rose 10% to £178.8m. The …
Business
Business Live
Company co-founded by Dragons’ Den star Steven Bartlett reveals sell off plans in bid to increase profits
A group co-founded by Dragons’ Den star Steven Bartlett is to sell off four of its companies. Social Chain is to dispose of RAVENSBERGER Matratzen, Carl Wil- helm Clasen, DEF Media, and bytepark to “clearly take further significant steps towards increasing its profitability”. The business, which was established by Mr Bartlett and Dominic McGregor in …
Business
Sky News
Heathrow beginning to recover from travel chaos, airport boss says
Heathrow is beginning to recover from the travel chaos of recent months, according to the airport’s chief executive.Airline travellers across the UK have faced months of disruption, with delayed and cancelled flights, along with long waits at check-in, security and baggage collection. The main reason for the problems has been a shortage of staff.Many jobs …
Business
Sky News
House prices still rising despite fall in demand, survey finds
House prices continue to increase, despite signs of shrinking demand, according to surveyors.The Royal Institution of Chartered Surveyors (RICS) found that 25% of property professionals reported new buyer inquiries falling in July – the third consecutive month of decline. Expectations for sales in the next 12 months were the most gloomy since March 2020, when …
Business
Sky News
Treasury recruits Court quartet in Bank of England shake-up
The Treasury is to name a quartet of new directors to the Bank of England’s governing body as debate rages about the central bank’s remit under a new Conservative prime minister.Sky News has learnt that Nadhim Zahawi, the chancellor, has signed off the appointments of four new members of the Court of the Bank of …
Business
Business Live
Bellway secures land deal for 950 new homes
A large parcel of land in north Birmingham earmarked for almost 1,000 new houses has been acquired. Housebuilder Bellway has bought the 123-acre site at Langley in Sutton Coldfield which it hopes will pave the way for a new development of 950 homes east of the town centre. The site, acquired for an undisclosed sum …
Business
Sky News
Slower inflation growth eases pressure on US Fed to hike interest rates
US inflation grew at a slower pace than expected in July, according to the latest government figures, easing pressure on the Federal Reserve to deliver another super-sized interest rate hike.Consumer prices jumped by 8.5% in July compared with a year earlier, down from the 9.1% year-on-year jump in June.It was helped by falling fuel prices.On …
Business
Business Live
Admiral records solid interim profits and customer growth despite inflationary environment
Motor insurance to loans group Admiral has reported stable first half profits and good customer growth amid economic challenges and high inflation. The Cardiff-headquartered FTSE 100 business saw operating profits return to pre-pandemic levels after outlier years in 2020 and 2021 saw higher profits due to the impact of Covid-reducing loans. The firm, which employs …
Business
Evening Standard
Troubled Toshiba’s profits chipped by raw materials hike
Japanese electronics manufacturer Toshiba has fallen foul of the global chip shortage and the hike in raw material costs due to rampant global inflation posting a dip in profits for the first quarter of the year.Its chief finance head Masayoshi Hirata said the company had “been able to only offset about half the impact of higher materials …
Business
Business Live
Prax Group buys new vessel to carry Lindsey Oil Refinery marine fuel to UK and European ports
Prax Group has added a new tanker to its Harvest Energy Marine fleet, charged with delivering fuel produced at its Lindsey Oil Refinery to ports in the UK and Europe. Fortuna II is a 68-metre vessel, with a deadweight of 1,700 tonnes. Built in 2020, and bought for an undisclosed fee, she can carry very …
Business
Business Live
Water safety firm Nant moves to new HQ
A specialist provider of water safety services has moved its head office to new premises in the latest phase of its growth plans. Nant, which works with clients such as care homes, restaurants and hotel chains, has relocated to a larger site at the Development Centre at University of Wolverhampton Science Park. The new site …
Business
Business Live
Rolls-Royce agrees deal to supply more than 500 engines for Army’s Boxer tank
Rolls-Royce has agreed a deal to supply more than 500 engines for the British Army’s Boxer Mechanised Infantry Vehicle (MIV). The engine maker, which has seven UK bases including major sites in Derby and Bristol, will deliver 523 mtu Series 199 engines under the agreement. The engines will be assembled, acceptance-tested and painted in the …

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