Ted Baker chief executive takes leave of absence after complaint about ‘straddling’ employee. Ted Baker (TED) boss Ray Kelvin, accused of giving employees unwanted hugs, is taking a leave of absence from the company following “further serious allegations” about his conduct. The Daily Telegraph understands that the company received a fresh complaint that the 62-year-old boss had straddled a female employee at a staff fancy dress party. With just three minutes of trading time left yesterday afternoon Ted Baker abruptly announced that chief operating officer Lindsay Page would be taking over as chief executive while Mr Kelvin was on leave. The Ted Baker chief executive made the decision to step back after being told of the fresh allegations. The retailer said it would not make “any further comment about the nature of the allegations that have been made while they remain under investigation”.
Games Workshop sales set to rise on Warhammer success. Games Workshop Group (GAW) continues to defy the high street downturn with its hit Warhammer game driving sales. The Nottingham-based retailer said it expected sales in the six months to December to come in 14% higher at roughly £124m, while profits are estimated to reach £41m, a 6% increase on the same period last year. Kevin Rountree, chief executive, said Games Workshop’s key Warhammer series was “in great shape in our core markets”. “We have built on the progress we made last year and the results are considerable given the backdrop of major projects,” he said. These projects include increasing factory capacity and overhauling its back office software.
Berkeley profits slide as housing market in London ‘lacks urgency’. Berkeley Group Holdings (The) (BKG) has ramped up investment outside London and committed to paying bumper dividends for an extra four years as it aims to convince investors it still has good times ahead. The upmarket housebuilder bought up large tracts of land at cheap prices – particularly in and around London – in the aftermath of the financial crisis, allowing it to make sizeable returns on development in the years that followed. These sites are now shrinking in number, meaning that Berkeley’s profit margins aren’t as big as they used to be, and it partly explains why the housebuilder’s profits fell by a quarter to £401m in the first half of the year. The decline was, however, better than expected, prompting Berkeley to upgrade its full-year forecast by 5%.
