Next Plc FY Profit Drops – Quick Facts

Denver man dies Wednesday after 50-foot fall in Rocky Mountain National Park – The Denver Post

A 33-year-old Denver man died Wednesday after an estimated 50-foot fall near Many Parks Curve along Trail Ridge Road in Rocky Mountain National Park.

The fall occurred on a rock outcropping between the upper and lower parking areas at Many Parks Curve, according to a Rocky Mountain National Park news release.

The man’s body was taken to the Larimer County Coroner’s Office, the release said. The man’s name will be released after immediate family have been notified.

Chicago Business Barometer Jumps To Highest Level Since July 2018

A report released by MNI Indicators on Wednesday showed a much bigger than expected acceleration in the pace of growth in Chicago-area business activity in the month of March.

MNI Indicators said its Chicago business barometer soared to 66.3 in March from 59.5 in February, with a reading above 50 indicating growth in regional business activity. Economists had expected the index to inch up to 60.7.

With the much bigger than expected increase, the Chicago business barometer reached its highest level since July of 2018.

The spike by the Chicago business barometer was led by a jump by the production index, which surged up by 10.1 points to a three-year high of 72.0.

The new orders index also climbed by 7.1 points to 62.3, while the employment index rose by 5.5 points to 54.6, reaching expansion territory for the first time since June of 2019.

MNI Indicators also said prices paid at the factory gate escalated for the seventh month in a row, with the prices paid index reaching its highest level since August of 2018.

Sodexo H1 Profit Declines; Organic Revenue Down 21.7%

Sodexo (SDXAY.PK) reported that its first half profit to equity holders of parent declined to 33 million euros from 378 million euros, previous year. Earnings per share was 0.22 euros compared to 2.55 euros. Underlying net profit declined to 128 million euros from 424 million euros. Underlying EPS was 0.87 euros compared to 2.91 euros.

First half revenue was 8.59 billion euros compared to 11.69 billion euros, previous year. Group revenue was down 26.5%, significantly impacted by the Covid-19 crisis. Group organic revenue declined 21.7%.

For the second-half, the company projects: organic growth between 10 and 15%. Second half underlying operating margin is anticipated to be around 3.1%, at constant rates.

Sodexo CEO Denis Machuel said: “Our actions to renegotiate our client contracts, strictly control our costs, and implement the GET restructuring program are clearly visible in our better than expected underlying operating profit margin of 3.1%.”

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National Living Wage extended: What is the new minimum wage in the UK?

Budget 2021: Sunak announces National Living Wage increase

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The national living wage guarantees a minimum pay threshold for millions of people across the UK. The highest minimum wage band is age-based, and comes following a Government-led effort to increase wages to £9 per hour by 2020. Although ministers failed to meet this target, the latest changes will introduce a salary nudge for millions of people in their 20s .

What is the new minimum wage in the UK?

The Government has set five minimum wage bands by age, from apprentice level to 25 and over.

Apprentices get the lowest hourly pay ay £4.15, with their older working counterparts getting more than double this.

The latest change made by officials will see the living wage increased and eligibility extended.

Boris Johnson's most senior black aide 'quits amid backlash over racism report'

Man dies after being trapped under house bus in Brightwater, Tasman

A man has died after being trapped under a house bus in a small town at the top of the South Island.

A police spokesman said they were called to an address in Brightwater, Tasman district, at 5.45pm.

A 53-year-old man had become trapped under a house bus while working on it, and had since died from his injuries.

Inquiries into the circumstances are under way, the spokesman said.

Next Plc FY Profit Drops – Quick Facts

Next Plc (NXT.L) reported that its profit attributable to equity holders of the parent company for year ended January 2021 dropped to 286.7 million pounds or 221.9 pence per share from 610.2 million pounds or 468.8 pence per share in the previous year.

Profit before taxation also dropped to 342.4 million pounds from 748.5 million pounds in the prior year.

Total revenue was 3.53 billion pounds down from 4.27 billion pounds last year.

Looking ahead for year ending January 2022, the company said that total Brand full price sales guidance remains unchanged and flat against 2019/20(a two-year comparison).

In the first eight weeks of the year, Online sales have been stronger than expected and are up more than 60% on two years ago. The overachievement plus the expected transfer of sales from Retail during the additional two weeks of lockdown, are expected to add 30 million pounds of profit. As a result, the company raised its central profit guidance to 700 million pounds from the prior estimation of 670 million pounds.

In central scenario for the year ahead, the company forecasts for full price sales to be up 31% on 2019/20, this represents an increase of +17% on last year. Total sales, including markdown and Online Total Platform sales, would be up 30% on two years and +18% on last year.