O2 owner Telefonica reported £10.6bn of sales for the three months to March 31
PROFITS CLIMB Mobile network O2’s Spanish parent company said profits rose in the first quarter of 2018 despite a fall in sales.
Telefonica reported £10.6billion of sales for the three months to March 31, 7 per cent lower than the previous year.
Profits rose to 7 per cent to £728million.
It is boosting investment in 4G mobile internet at 1,000 locations including Leeds, Nottingham and London.
TAKEOVER HEAD Deal-making Citigroup banker Simon Lindsay, 50, is to become director-general of The Takeover Panel in a two-year secondment starting in July.
LOAN DEAL Online fashion retailer Koovs has agreed a secured loan of up to £1.5million from Lord Waheed Alli. a director, as it raises up to £50million to grow the business.
HOMES STARTED Work began on 154,698 new homes in the year to March, says the National Housebuilding Council, down 2 per cent on the previous 12 months. The figures are the second-highest in a decade.
RETAIL GLOOM Sales on the High Street ‘continued to disappoint’ in the year to April, says the Confederation for British Industry. Retail sales came in broadly flat.
EXTRA CASH Money app Revolut has been handed an extra £11.8million by start-up backer Draper Esprit. The deal values Revolut at £1.2billion.
SALES DIP Sales at builder Taylor Wimpey fell in the first four months of 2018. It sold an average of 0.85 houses a week at each of its 278 sites, down from 0.93 a year earlier.
DEBT COLLECTION Doorstep lender Morses Club hired an extra 600 debt collectors in the year to February to steal disgruntled customers after an IT meltdown at rival Provident Financial. Profits rose 44 per cent to £16.1million.
PACKING UP Six in ten retirees this year are giving up work early, according to insurer Prudential.
ONLINE GROWTH The online share of grocery sales rose 0.1 per cent to 6.4 per cent last year, equivalent to £6.6billion of sales. Findings by analysts Nielsen suggest the rise of voice assistants like Amazon’s Alexa could mark a seismic change in how people shop.
HOMES BACKING The Pension Insurance Corporation has lent £60million to housing association Phoenix Community Housing, which manages more than 6,000 properties in London, and will build 200 more.