Newspaper article The Journal (Newcastle, England)

Companies Today

Newspaper article The Journal (Newcastle, England)

Companies Today

Article excerpt

REVENUES HIT Outsourcing giant Mitie has warned over lower-than-expected revenues after concerns over the state of the economy led to a spate of cancelled work.

The FTSE 250 company said revenues fell short in the second half of its financial year, as economic uncertainty and pressures saw some projects delayed and others taken off the table altogether.

While revenues look set to come in shy of market expectations, it expects to hit its target for full-year profits, as it focuses on maintaining margins and investing for longterm growth.

It also shrugged off concerns about the impact of increases in the minimum wage and the National Living Wage, stating it was confident the wage hikes will not have a "material impact on future earnings".

FICTIONAL FARMS Tesco has drawn criticism for using fictional British-sounding farm names on labelling for a range of meat and fresh produce, some of which is imported.

The made-up names are Woodside, Willow and Boswell farms on labelling for pork, chicken and beef, as well as Nightingale and Redmere on salad and vegetable items, Rosedene on berries, apples and pears and Suntrail Farms on a range of imported fruit. …

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