News roundup—ASOS and Majestic Wines financials, plus Royal Mail, Woolies, more

News roundup—ASOS and Majestic Wines financials, plus Royal Mail, Woolies, more

Another half-year of solid growth for ASOS: The fashion etailer posted a 47 per cent rise in revenue and a 34 per cent income in gross profit, though operating profit rose a more modest 14 per cent. For the six months ended 30th September, ASOS had an operating profit of £3.8 million on sales of £65.7 million. International sales for the period grew 112 per cent. And for the first seven weeks of the second half of the year, sales were up 46 per cent from a year ago.

Half-year online sales for Majestic Wines climbed 24.6 per cent, with the web now accounting for 9.2 per cent of the retailer’s UK sales. Total sales for the 26 weeks ended 28th September were £106.7 million, up 13.4 per cent from a year ago.

Discussions between Royal Mail and HMRC regarding the details as to when and how the postal carrier will have to begin charging
VAT on certain commercial contracts are “continuing,” reports The Independent, but the adding of VAT “is expected to take effect early in the new year”. (For background on the issue, see “Is a Royal Mail VAT refund in your future?”.)

In a detailed recounting in The Telegraph, the former chief executive of Woolworths lays much of the blame for Woolworths’ collapse on
accountancy firm Deloitte, which “advised Woolworths’ banks before the collapse and then acted as administrator after the company failed, garnering huge fees in the process,” according to the article.

The Guardian recommends several catalogues for “armchair gardeners” to curl up with: Real Seeds, Plants of Distinction, Nicky’s Nursery, Simpson’s Seeds, and Sea Spring Seeds.


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