💨 Abstract

Timpson, a cobbler chain known for hiring ex-offenders, reported a 4.5% sales increase to £347 million and a 26% profit rise to £48 million last year. However, the company faces a £12 million hit due to increases in the minimum wage and National Insurance contributions. The CEO, James Timpson, left to become Prisons Minister, which the company acknowledges as a loss.

Courtesy: www.thesun.co.uk