Author: Scott Dylan

The UK division of Viking River Cruises has achieved its highest revenue since the onset of the Covid-19 pandemic, with profits also hitting record levels.The London-based branch of Viking River Cruises reported a revenue of £119.9m for 2023, marking a significant increase from the £94m recorded in 2022, as per the latest accounts filed at Companies House. The last time the company matched or exceeded these figures was in 2019, with a revenue of £129.6m.In terms of profitability, the pre-tax profit for 2023 stood at £3.3m, a substantial rise from the £2m noted the previous year and surpassing the previous…

A Wiltshire-based transport company, with a history spanning over three decades, has entered administration, marking the end of its operations.SL Transport UK, a well-established haulage firm, had been operating since 1991. The company recently appointed Richard Cole and Steve Kenny of KBL Advisory to oversee its winding up on 5 September. The firm, which specialised in pallet network and general haulage, operated a fleet comprising heavy vehicles such as articulated lorries.The company managed four sites in the West Country, including locations in Swindon and Wootton Bassett. SL Transport’s offerings included accommodating various haulage requirements such as curtainsider loads, box trailer,…

Revolut has reached a significant milestone in the United Kingdom, with the fintech company now serving 10 million customers. This achievement underscores its position as a leading player in the financial technology sector and paves the way for the launch of its banking services.Revolut has experienced substantial growth, with nearly 2 million new customers added in 2024 alone. This surge in user numbers was highlighted by City AM, which also noted a recent secondary share sale valuing the company at $45 billion. Additionally, Revolut received a restricted UK banking licence from the Prudential Regulation Authority (PRA) in July.The fintech firm…

Sterling has surged to its highest point in two years, reaching $1.331, following the Bank of England’s decision to keep interest rates steady. The currency also strengthened against the euro, touching €1.19, its most robust level since July.The rise in the pound’s value came in the wake of the US Federal Reserve’s unexpected half-point rate cut earlier this week, which has influenced market dynamics. High interest rates typically enhance a currency’s appeal by attracting investors seeking higher returns. Despite the UK adopting a more measured approach to rate cuts compared to the US and the eurozone, market speculation points to…

In an era of rapid digitisation, it is crucial for businesses to remain ahead by leveraging technology effectively. The North East Business Awards 2024 recognises this reality, honouring the region’s leading companies, with the prestigious event set to occur on 3rd October at Hardwick Hall Hotel in Sedgefield.Jonathan Cowan, Chief of Staff at a prominent software company, has spotlighted the North East’s burgeoning tech and innovation scene as a key area for growth. ‘Unlike the Green Day song, for me, September isn’t about endings – it’s a time for new beginnings. This year feels even more special as my twin…

UK borrowing surpassed official forecasts in August, reaching a debt-to-GDP ratio of 100%, according to data from the Office for National Statistics (ONS). This highlights significant fiscal challenges for the government.Public sector net borrowing stood at £13.7 billion last month, significantly above the £11.2 billion forecast by the Office for Budget Responsibility (OBR). This increase was predominantly due to higher spending on benefits, which were adjusted in line with inflation, along with additional government operational expenses.Despite the rise in borrowing, the cost of servicing the UK’s debt decreased for the fourth consecutive month, dropping by £100 million to £5.9 billion.…

City Hospice, the sole provider of home-based specialist palliative care in Cardiff, is poised to launch its largest charity shop to date. Situated on Colchester Avenue, the 3,500 sq ft store is scheduled to open in October.The new store will offer an extensive range of pre-used items including accessories, books, clothing, furniture, and homeware. Moreover, the venue is intended to serve as a community space for local residents.Critically, this new establishment will act as a flagship for City Hospice’s fundraising activities. All purchases, donations, and community events will directly support the charity’s mission to provide crucial care for patients with…

Retail sales in the United Kingdom have reached a two-year high in August, driven by a surge in consumer spending on summer deals and food. The Office for National Statistics (ONS) has reported an annual increase of 2.5 per cent in retail sales volumes, surpassing the anticipated 1.5 per cent rise. This marks the most robust performance since July 2022 and an acceleration from the 1.4 per cent growth observed in July.Month-on-month, retail sales climbed by 1 per cent, with the previous month’s figure revised upwards to 0.7 per cent. Consumers have notably increased their expenditure on food, clothing, footwear,…

A Gloucestershire-based virtual reality learning firm is set to experience substantial growth in 2024, attributed to its recent expansion in the United States.Avantis Education Group, a provider of virtual reality headsets, software, and content for educational institutions, anticipates a significant rise in both revenue and EBITDA this year, exceeding 50%. The company’s technology serves more than two million students across 200,000 institutions in 90 countries. For the fiscal year ending December 31, 2023, Avantis reported revenue of £23 million and EBITDA of £6.4 million, driven largely by its US market penetration.Since entering the US market in 2007 and establishing a…

Property giant M&G Real Estate has augmented its stake in The Mall at Cribbs Causeway, Patchway, near Bristol by acquiring its joint venture partner’s interest for an undisclosed sum. This strategic move reinstates the shopping centre under the ownership of its initial investors.The transaction brings The Mall back under the ownership of its original investors—M&G Real Estate and Baylis Estates—who initially funded the centre’s construction in 1998. M&G Real Estate has designated CBRE Sovereign Centros as its operating partner to manage retail assets across The Mall and its adjacent retail and leisure assets. This encompasses Cribbs Venue leisure park, Cribbs…