We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

The City View: Sainsbury’s to cut prices, and the importance of UK private equity

1 2 0
30.05.2022

Today Andy Silvester talks to Michael Moore, Director General at BVCA. They discuss the scale of private equity and venture capital in the UK, their importance in the UK’s employment market, and how vital they are for companies looking to scale up.

And in the headlines: Sainsbury’s CEO Simon Roberts has said that the supermarket plans to pump £500m into price cuts; Foxtons has poached Chestertons CEO Guy Gittins; and Oxford Metrics, the company behind the ABBA Voyage shows, has sold off a part of its business.

Episode transcript (auto-generated)

Andy Silvester 0:08 Good afternoon and welcome to the City View podcast me Andy Sylvester as we head in actually towards four full days off for the Queen’s Jubilee, a break that will be one for celebration for many people but we’re also told will wipe up to some 0.5% of UK GDP this quarter. Not quite sure that’s in the spirit of the same but that we are. In a few minutes I’ll be joined by Michael Moore he’s the chief executive of the British private equity and venture capital association will talk about deal making in the capital, the reputation of private equity and what more the government can do to ensure that UK is growing businesses have plenty of access to capital. First, though the corporate headlines and Sainsbury’s boss has said this morning that the supermarket giant plans to pump fresh funds into offsetting rising costs over the rest of the year. As shoppers become more he said increasingly concerned about their finances, the UK second largest supermarket chain to invest more than half a billion quid into lower pricing by March 2023. As part of a long term value plan. Sainsbury’s boss Simon Roberts said the supermarket has had to pass on some increases in the price of essential products such as milk, that stress that it has invested money to ensure smaller rises than rivals. We have a really important relationship with our suppliers, and we’ll work with them when the cost of food production is going up and impacting upon farmers he said. Meanwhile, foxtons has appointed guy Gittens to hit the London estate agent from this autumn Gittens, who currently holds the title of Chief Executive rival estate agent Chestertons will take on the job of Group CEO foxtons in September replacing Nick Budden has been CEO there since 2014. It’s a bit of a coup to pluck from arrival and leadership news comes just days after foxtons coughed up just north of 10 million for two takeovers. In a bid to snap up an even larger share of London’s property market the London listed group has bought IMM properties which trades under the name Gordon and CO in South London, as well as stones residential in North London. The deals are expected to improve the resilience of revenues at foxtons according to analysts it’s already London’s largest lettings agent and add John s for capital has posted buoyant gross profit of 171 million pounds morning despite mass in sales brainchild battling all sorts of macroeconomic challenges and of course accounting delay woes. As well capital said it would maintain its light for light profit and growth........

© City A.M.


Get it on Google Play