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Trump’s tariffs explained: What are they, how has the world reacted and what are the implications for Britain and global trade? Two of Britain’s largest pub chains have reported strong profits as consumers continue to spend more in the food and drinks sector. Butlers saw its operating profits rise by 4. 153million in the six months to April 11. Butlers saw operating profits rise by 4. 1billion as a result of 1. 4 per cent growth in like-for-like sales and the contribution of new pubs and restaurants, such as the 173 outlets it acquired from Orchid.
Butlers said the increase in food sales was primarily driven by volume growth of 2. 9 per cent, with a small increase in average spend per head. Time to say cheers to the Chancellor? In contrast, growth in drink sales resulted from higher average spend of 2. 7 per cent partially offset by volume declines of 2. Butlers chief executive Alistair Darby said: ‘We have made good progress in the first half with continued strong food volume growth driving improved sales.
He added: ‘The market in which we operate remains challenging despite growing consumer confidence. However, we are confident that our business is well placed to capitalise on opportunities in the market and deliver future shareholder value. 78billion – remains challenging despite an improving jobs market and return to real wage growth. The company said: ‘Our market will benefit from this positive consumer environment. However, after a period of austerity, and with many consumers continuing to carry a significant amount of personal debt, we recognise that many people remain cautious and highly selective in purchasing decisions.