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Bakery chain Greggs reported a strong performance in the first 19 weeks of 2023. Like-for-like sales in company-managed shops jumped 17% year-on-year, though this partly reflects the Omicron virus outbreak in 2022. In the 10 weeks to May 13, like-for-like sales growth has averaged 16%. The company backed its annual outlook, confident of making further progress despite continuing challenges. "Although we expect to see ongoing material cost inflation, we have good forward cover on key commodities. Consumer disposable incomes are likely to stay under pressure, but we remain confident that our outstanding value proposition continues to be compelling," Greggs said.
LONDON, May 11 (Reuters) - British broadcaster ITV said total advertising revenue in the first three months of the year was down 10%, as expected, as it stuck to its longer term targets and said its new streaming service ITVX was performing well.
LONDON, May 11 (Reuters) - London-listed hedge fund Man Group said on Thursday its chief executive Luke Ellis would retire in September and be succeeded by the company's current president, Robyn Grew.
Ellis, who first joined Man Group in 2010, said in the company's statement that it was "the right time to pass the reins" and welcomed Grew's appointment.,
enjoy your holiday Morbox
LONDON, May 10 (Reuters) - British outsourcing company Capita warned it would take a 15 million pound to 20 million pound ($25 million) hit after its systems were hacked in a cyber incident earlier this year.
Capita, which provides business support services to government and companies, said in a statement on Wednesday the incident had compromised some data from less than 0.1% of its server estate and it was taking steps to recover and secure its systems.
The up to 20 million pound cost of the incident was a result of specialist professional fees plus investment to reinforce its cyber protections.
"Capita is working closely with all appropriate regulatory authorities and with customers, suppliers and colleagues to notify those affected and take any remaining necessary steps to address the incident," the company said.
The group added that it was trading in line with expectations, and it posted in-year-revenue wins of 449 million pounds over the first four months of the year, up 16% on the same period last year.