00:00Hello and welcome to the latest Business Brief on Tuesday 13th May.
00:05Pubgroup Marston's has posted a strong rise in profits, helped by cost savings and digital upgrades.
00:10Half-year operating profit jumped 20% despite flat revenue, debt is down, margins are up, and like-for-like sales surged 10.5% in recent weeks.
00:19The company says it's confident of hitting full-year targets.
00:23Wix has made a strong start to 2025 too, with sales up nearly 7% year-on-year.
00:28Retail revenue rose 9.6% driven by volume growth and strong garden timber and decor sales.
00:35TradePro and DIY sales were both up, with market share continuing to grow.
00:39The firm says it's on track to meet profit forecasts despite cost pressures.
00:44Virgin Media O2 is merging its business arm with Daisy Group in a £1.4 billion deal.
00:50The new telecoms firm will serve around 700,000 customers.
00:53Virgin will own 70% of the venture, Daisy the rest.
00:56They expect to save £600 million through the tie-up.
01:01Nissan plans to cut nearly 20,000 jobs worldwide as part of a major cost-cutting drive.
01:06That's more than double the number it first announced in November.
01:09The move follows weak sales and could affect 15% of its global workforce.
01:13It's unclear if staff at Nissan Sunderland plant will be hit.
01:17UK unemployment edged up to 4.5% in the three months to March.
01:22Wage growth also slowed, with regular pay rising 5.6% year-on-year.
01:27After inflation, that's a 2.6% increase in real terms.
01:32And the sunniest April on record has given UK retail sales a big boost, up 7% on last year.
01:38Easter helped with strong demand for food, DIY and gardening gear.
01:42Even clothing sales picked up after months of slow growth.
01:45Figures from the BRC show spending was well above the yearly average.
01:49That's all for today.
01:50Thank you for listening.
Comments