City Spotlight: Great Wimbledon result, Swiss bank goes cuckoo, and Primark powers on
Filed under: City Spotlight
Game, set and match Gailford TryNo doubt Swiss superstar Roger Federer was happy with his Wimbledon result, but it was builders Gailford Try who were the real winners.
The company that built the roof over Centre Court released their figures for the year ending June 30, which show they finished the previous 12 months with £35 million in cash. Not bad when you understand it is up from a £2 million debt last year!
Swiss go cuckoo
Meanwhile, another Swiss institution is not so happy. The secrecy afforded customers by the gnomes of Zurich and their Swiss banks is facing a real battle with the US Government which seems determined to make UBS hand over the details of 52,000 American clients accused of tax evasion.
This week moves were afoot to shut down UBS operations in the US unless the bank complies. But the Swiss authorities have weighed in saying they will confiscate the clients' data if a US court decides they must reveal all. It goes to court on Monday, so should be worth following as events unfold.
Primark in fine fashion
The blazing sunshine of June is being credited with booming performance of budget clothes store Primark, or Primarni, as fashionistas love to call it. Cheap and cheerful clothing for all is the strength of the 190 stores and the public have responded by taking the less expensive options on offer.
Its figures show a 21% growth in sales up to the end of June and parent company Associated British Foods will be delighted. One of the company's other concerns is Silver Spoon sugar and though earnings there remained flat, the Primark news is sweet enough.
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