Listed below are our UK press releases, providing an overview of our activities and opinions over the last 18 months. Our most recent press releases can be found at the top of the page.
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| Local sport clubs miss out on £60 million a year |
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03 January 2007 |
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For further information on CASCs please contact Pete Hackleton - +44 (0) 20 7007 4340
Many community sports clubs and local authorities are failing to take advantage of potential savings of up to £60m per annum under the Community Amateur Sports Club (CASC) scheme. New research from the latest report by Deloitte, indicates that 4,097 clubs (at 30th November 2006) have registered for the scheme since 2002, from a potential target group of around 40,000 UK amateur sports clubs which are active in the community.
The CASC scheme was unveiled in November 2001, but despite recently... |
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| Music Zone enters Administration |
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03 January 2007 |
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Music Zone, the UK’s third largest music and film retailer by number of stores, has been placed into administration. Bill Dawson, from Deloitte’s Reorganisation Services division, has been appointed administrator. Music Zone operates from 104 stores across the UK, employing 1,100 staff. Its turnover in the current financial year ending May is forecast at £115million.
A spokesperson for Music Zone said: “There is a growing number of high street retailers like Music Zone experiencing challenging trading conditions. Pre-Christmas spending was also poorer than expected. “The decision by our bankers... |
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| Leverage ratios predicted to go even higher in 2007 |
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01 January 2007 |
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A large proportion of players in the debt market, including corporates, banks and hedge funds expect leverage ratios to increase next year, according to research findings announced today by Deloitte. Tim Murphy, a debt advisory partner at Deloitte, commented: “A surprisingly large number of the organisations surveyed expect leverage ratios will increase or stay the same: 87% of banks, 80% of corporates and 83% of hedge funds. By contrast, 40% of private equity houses predict that leverage ratios will decrease, which may reflect their view that asset prices will... |
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| 100,000 people expected to join gyms in January |
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29 December 2006 |
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Over 100,000 people are expected to join UK fitness clubs over the next few days as they act on New Year’s resolutions to improve their fitness according to the HealthClubBenchmark Survey by Deloitte. Data shows the number of people joining health clubs is 65% higher in January then other months of the year. In January 2006 in excess of 100,000 people joined a gym, compared to an average of 63,500 per month across the rest of the year. Neil Burton, manager of HealthClubBenchmark comments: “January is a great time for anyone interested in joining a gym to shop around for bargains. On average health club members... |
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| Pension deficits decline in 2006 |
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29 December 2006 |
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The total deficit for the final salary pension plans of the UK’s top 100 companies is currently £38 billion according to actuaries at Deloitte, the business advisory firm. Pension deficits have shrunk from £75 billion at the start of the year due to healthy stock market returns. Pension scheme assets have benefited from double-digit investment growth in share prices, which is important because most pension schemes invest a significant proportion (60% on average) of their assets in the stock market. UK shares have increased in value by 17% over 2006. Higher levels of contributions from employers in recent years have also helped. The... |
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| Christmas bonus for UK sport |
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26 December 2006 |
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UK sport is set to receive a festive boost with Deloitte analysis showing that approximately one million people are set to work off their Christmas lunch by attending professional sports fixtures in the UK on Boxing Day. Whilst the majority will attend football matches, with over 850,000 spectators anticipated, significant numbers will also flock to rugby union and horseracing. Alan Switzer, Senior Manager in the Sports Business Group at Deloitte, commented “The Christmas holiday season is a particularly busy period within the sporting calendar. An estimated 2.7m people are expected to attend professional football, rugby... |
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| Retail recovery could peter out in the New Year |
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23 December 2006 |
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After a slow start to the festive shopping season, consumers are finally turning their attention to Christmas shopping as the big day gets closer. Total consumer spend is expected to reach a record high of £17bn, up 7.65% on the previous year and the predictions look set to ring true. But the tills are unlikely to ring loudly in the New Year, according to Roger Bootle, economic adviser to Deloitte:
“Consumers will wake up on January 1st and come back to reality with a bump as they face the poor state of their finances. Higher utility bills and interest payments mean there is less money left over to spend on January sales. And rapid... |
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| Motor Insurance Premiums drop throughout 2006 |
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21 December 2006 |
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Motor insurance premiums for new business have fallen by 2% so far this year according to the latest Quarterly Motor Insurance Market Report by Deloitte. After starting off at £460 at the beginning of the year, average new business premiums have declined to just over £450. The results come despite a move by Norwich Union to raise their rates and analysis which shows the operating ratio across the insurance market has deteriorated over the last 3 years. Deloitte predicts that the operating ratio for 2007 will be around 110%, a deterioration on 2006 of 1 point. Increases in premiums at this point in the year... |
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| Convergence Conversations |
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21 December 2006 |
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Deloitte, the business advisory firm, has today launched a book on convergence, based on a series of interviews with some of the most influential thinkers from the technology, media and telecommunications (TMT) sector. The book provides an in-depth perspective on the impact of convergence on the sector, and illustrates the breadth of thinking on the subject in the market. Jolyon Barker, head of the technology, media & telecommunications practice at Deloitte, comments: “Deloitte has been closely tracking the topic of convergence since the term first started to be used a number of years ago – and which at the... |
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| EU includes aviation industry in carbon emissions trading scheme |
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20 December 2006 |
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The European Union announced today that the aviation industry is to be included in the European Trading Scheme (ETS). The ETS provides industry with a quota of greenhouse gas emission permits and allows companies to trade these rights. However, until now the aviation industry has been excluded. Commenting on today’s decision, Robin Pratt, transport economics consulting director at Deloitte said: “Today’s announcement marks a milestone in the journey towards making Europe’s air transport sector more sustainable. “However, despite long-standing British support for such a move,... |
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