Pret enjoys big boost to turnover

first_imgPret A Manger has reported a 17% increase in both turnover and ebitda, as the chain continues to expand in the UK.The top 10 BB75 retailer posted sales revenue of £443m, and ebitda of £61.1m for 2012 financial year. It also opened 36 new shops – 19 of which were in the UK – over the 52-week period, taking its total estate to 320 (+10%).A target of 50 new shops has been set for 2013, including four additional shops in Paris. Of the 1,000 jobs due to be created, 500 of these should be in the UK, said the firm.Following previous criticism about the number of British workers it employs, the firm highlighted the launch of its fledgling National School Leaver Programme, which encourages British school leavers to work for the company.Nine school leavers have also joined the team, with the scheme to be expanded in September this year, it said.Clive Schlee, chief executive of Pret A Manger, said: “2012 was a strong year for Pret. We continued to invest in our core values, improving our menu, launching innovative employment schemes and building and refurbishing shops in all our markets.”Last year also saw Pret open its first shop in Paris, and in its fourth city in the US – Boston.last_img read more

Govt expects unemployment to worsen, continue into next year

first_imgThe government expects 4 million additional people to fall below the poverty line this year, making for a total of 28 million people in poverty in the nation, or around 10.6 percent of the population, up from 9.2 percent in September of last year.“With government’s intervention, we could reduce [the number of additional people who fall into poverty] to under 1 million so that it does not reach double digits this year,” said Suharso.The government is targeting a poverty rate of between 9.2 percent to 9.7 percent next year, according to the minister.The government has allocated Rp 695.2 trillion (US$49.2 billion), or 4.2 percent of the gross domestic product (GDP), to fight the COVID-19 pandemic. Of that figure, Rp 172.1 trillion has been designated for the social safety net, far higher than the previous plan’s allocation of Rp 110 trillion.Indonesia’s economy has been hit hard by the pandemic. It grew 2.97 percent in the first three months this year, the weakest since 2001, as household spending and investment growth slowed.The government expects the economy to shrink by 3.8 percent in the second quarter of this year, Finance Minister Sri Mulyani Indrawati said during the same hearing.Sri Mulyani revised the country’s expected GDP growth down to between negative 0.4 percent and positive 1 percent this year because of feeble economic activity and depressed commodity prices.“The government is currently focusing on the economic recovery in the third and fourth quarters from the contraction in the second quarter,” Sri told lawmakers. “We will use our policy instruments, supported by Bank Indonesia, to maintain recovery momentum.”The government is hoping the economy will grow by 4.5 to 5.5 percent in 2021 on the back of a global economic recovery as the pandemic subsides.The World Bank expects the country’s poverty rate to increase by 2.1 to 3.6 percentage points this year, which would mean between 5.6 million and 9.6 million people could fall into poverty this year.“There is a need for adequate protection for vulnerable communities,” World Bank senior economist for Indonesia Ralph Van Doorn said recently. “We are concerned that the value of the stimulus package may not be enough to offset the economic impact on households.”The World Bank now projects zero percent growth for Indonesia this year as the COVID-19 crisis causes the global economy to experience its deepest downturn since World War II.Topics : “If the [economic] condition persists throughout the year, we are worried that unemployment will reach 10.7 million to 12.7 million in 2021,” Suharso said during a parliamentary hearing on Monday.The coronavirus has forced people to stay at home, disrupting business activity as shops, factories and offices have shut their doors. As economic activity languishes, millions of Indonesians have lost their jobs and are in danger of falling into poverty.As of May 27, more than 1.79 million people had lost their jobs after nonessential businesses shut down to comply with government restrictions, according to data from the Manpower Ministry.“We are hoping that jobs will return to near prepandemic levels,” Suharso said. The nation’s high unemployment rate is expected to worsen and continue into next year as the country braces for further economic consequences of the COVID-19 crisis, senior government officials said on Monday.Some 5.5 million people may lose their jobs this year, pushing the unemployment rate to between 8.1 and 9.2 percent, up from 5.28 percent last year, according to National Development Planning Minister Suharso Monoarfa.As a result, up to 12.7 million people are expected to be unemployed by next year, up from 7.05 million people in 2019. The government’s baseline scenario for next year predicts that the unemployment rate will be between 7.7 and 9.1 percent.last_img read more

DStv, GOtv Set to Showcase Laliga Big Games

first_imgRound 21 of the 2018/19 La Liga season will, again, offer Atletico Madrid the chance of putting pressure on leaders Barcelona, while Real Madrid will hope to bridge the gap between them and their table-topping rivals. The matches will be live on DStv and GOtv.Atletico play at home to sixth-placed Getafe on Saturday evening (4.15pm on SS7 & SelGo4), while Barca will be in action away to Girona on Sunday (4.15pm on SS7 & SelGo4). Diego Simeone’s side will, on the evidence of the 3-0 thumping of Huesca last week, fancy their chances of picking up all three points and move within two points of Barcelona, who will seek to restore their five-point advantage againstGirona.Real Madrid will hope to see their two rivals slip up, as they bid to revive their title hopes. They moved to third on the table with a 2-0 win over Sevilla last weekend and will be favourites to build further momentum when they play away to Espanyol on Sunday night (8.45pm on SS7 & SelGo4). Elsewhere, Karl Toko Ekambi and Samuel Chukwueze’s Villarreal will seek to halt their slide toward the foot of the table when they head to the Mestalla to face Valencia on Saturday night (6.30pm on SS7A & SelGo4). Villarreal are winless in their last seven matches across all competitions and have slipped into the red zone of La Liga.Sevilla will look to reinforce their place in the top four when they face Levante on Saturday (on SS7 & SelGo4), while Athletic Bilbao will look to maintain their promising recent form with a win at home to Real Betis (Saturday, 8.45pm on SS7/SS10 & SelGo2/SelGo4). Also on Saturday, Leganes will take on Eibar (6.30pmon SS7 & SelGo4).Sunday will see clashes between Real Valladolid and Celta de Vigo (12pm on SS7/SS10 & SelGo2/SelGo4) as well as Real Sociedad and Huesca (6.30pm on SS6).Mubarak Wakaso’s Deportivo Alaves will look to recover from the 4-0 loss to Getafe last weekend when they host relegation-threatened Rayo Vallecano on Monday (on SS7 & SelGo4 at 9pm).Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more