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The Hut Group is reveling in its status as a pandemic winner after 74 of its staff were officially turned into millionaires and boss Matt Moulding dished £100m out to charity.  The lucky employees – including secretaries and warehouse workers – were given the shares when the company floated in September at a price of 500p.  But they are only now allowed to sell them after a post-float lock-up period came to an end.  Philanthropists: The Mouldings are sitting on a £1.5billion fortune And with shares trading at 663p, their holdings are worth £1m.  A spokesman for the company said: 'W...

      Full year 2020 £1.6bn of revenues (+42% YoY), £151m adjusted EBITDA (+35% YoY) after £2.6m of self-funded furlough costs   Statutory operating profit before adjusted items of £46m, £(482m) operating loss driven by one-off, non-cash items, principally equity awarded to our people             THG PLC ("THG" or the "Group"), the proprietary technology platform specialising in taking brands direct to consumers ("D2C") globally, announces its preliminary results for the financial year endi...

The founder of The Hut Group has pledged to donate £100million of the online retailer's shares to charity and hand all his salary to good causes after the firm's profits soared by a third last year. Executive chairman and chief executive Matthew Moulding, 49, will give the mammoth stake to the Moulding Foundation, set up by the entrepreneur and his family last year. The move, which comes just seven months after The Hut Group owner THG's initial public offering (IPO), sees him become one of the UK's biggest philanthropists. THG said it had already donated £300,000 to charities between last S...

League tables are subject to revision Total wins for the top 50 firms were down in January to £2.64bn compared to £3.23bn in December, but about level with the £2.63bn recorded a year earlier, in January 2020. Costain took second place in the month thanks to a single win – £250m contract to upgrade the A1 between Birtley and Coal House. Bowmer & Kirkland landed third spot, its highest placing since March 2017. The firm won £215.1m worth of work spread across seven jobs. The largest of these was a £125m warehouse job in Pontefract for retailer Next. The other big win during the month w...

Neil Tague An outline business case for a £35m package of projects on the key South Manchester route is being prepared for submission to the Department for Transport in March. The A34 corridor, which runs through the borough from its boundary with commuter-heavy Cheshire East through Heald Green and splitting Cheadle and Gatley up to the M60 junction and Manchester boundary, was identified as a priority in both Stockport’s Local Implementation Plan and the draft South East Manchester-wide multi-modal transport strategy known as SEMMMS. The proposed programme of improvements then was includ...