BUSINESS LIVE: Corporate tax hike fears; Evri hiring spree; Pearson backs AI

British meat producer Cranswick saw sales rise in the first quarter of its financial year, boosted by strong demand for its premium ranges and pet products.

Cranswick, which produces fresh pork, bacon, gourmet sausages, poultry products and continental foods, said export sales volumes rose strongly in the quarter.

British food producers have benefited from a recovery in consumer spending and falling costs after a long period of faltering demand and supply chain constraints amid inflationary pressures.

Revenues were 6.7 percent higher than in the same period last year and the group maintains its outlook for the current year.

FTSE 100 education publisher Pearson is targeting rapidly expanding markets such as careers and business training, with the group’s chief executive seeing “advances in AI” and “significant demographic changes” as its key drivers for growth in the coming years.

Pearson has posted a 4 per cent rise in first-half operating profit to £250m, driven by growth across all segments with particularly strong performance within its English-language operations.

The group said this was also driven by “gradual net cost reductions and savings” but this was partially offset by inflation and restructuring charges in Higher Education.

Pearson boss Omar Abbosh said:

‘Since joining Pearson earlier this year, I have led a comprehensive review of our business and the markets in which we operate.

‘This process has only reinforced my belief in Pearson’s potential and the vital role we play in helping people realize the life they imagine through learning.

‘Significant demographic changes and rapid advances in AI will be important drivers of growth in education and work in the coming years, and this reinforces Pearson’s strengths as a trusted provider of learning and assessment services.

“We are implementing plans across all of our businesses that will enable us to deliver better products and services more efficiently. We are also focusing on opportunities to progressively build our presence in larger, faster-growing markets where we are well positioned to succeed, with a particular focus on early careers and corporate training.”

Delivery giant Evri plans to hire 9,000 new employees just days after announcing new private equity owners.

The British parcel company is looking to expand its team of couriers and warehouse staff amid growing demand for its services.

It focuses on Scotland, Bury St Edmunds, Plymouth and Gatwick.

Almost one in three bosses are pessimistic that Labour will raise corporation tax.

In a survey of business leaders, 29 percent said they believed income tax was the most likely to increase over the next five years.

Keir Starmer’s government has insisted that it will cap the rate for the duration of this term.

But a survey of 500 executives by the consulting firm BDO revealed caution regarding this promise.