Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Branson reinvests dividends to his brands to post covid ravaged funds

by October 3, 2022
October 3, 2022
Branson reinvests dividends to his brands to post covid ravaged funds

Sir Richard Branson has invested almost all the royalties he received from the Virgin brand back into the companies that use it for a second year running.

Accounts for the year to December 31 show Virgin Enterprises, which is responsible for the “management, protection and development” of the brand, paid a £30 million dividend to its UK parent group Virgin Holdings. Last year it was £25 million, down from the £85 million paid out in 2018.

This was to allow the group to invest in businesses including Virgin Atlantic, Virgin Orbit, which provides launch services for small satellites, and Voyages, the cruise business. These were hard hit by Covid lockdowns.

Virgin Enterprises receives licensing income, which is typically a fixed percentage of turnover.

The biggest call on the funds is likely to have been the bailout for Virgin Atlantic of which Branson owns 51 per cent. In March last year it raised £160 million, made up of a £100 million loan from the Virgin Group and £60 million of deferrals from creditors.

At the time, a spokesman for the airline said: “This latest financing provides further resilience against a slower revenue recovery in 2021 and follows a $230 million (£165 million) financing on two Boeing 787s in January, which allowed us to pay down debt and strengthen our cash position.”

In 2020, Virgin Atlantic raised £1.2 billion, including £200 million from Branson. The airline also cut 4,300 jobs, nearly half its workforce, as flights around the world were grounded.

Profit before tax at Virgin Enterprises was £34 million, down £6 million from the previous year, which the business attributed to increased staff costs and management services fees.

Read more:
Branson reinvests dividends to his brands to post covid ravaged funds

0
FacebookTwitterGoogle +Pinterest
previous post
Little Christmas cheer as port strikes drag on
next post
Google’s UK tax bill jumps from £50m to £200m

You may also like

Can the UK’s £40bn ‘Tax Gap’ Be Bridged...

July 1, 2024

Bond street reclaims title as Europe’s most expensive...

April 11, 2025

Poundland to shut 68 stores in restructuring that...

June 17, 2025

Cloudbooking report: Only 11% of Gen Z workers...

November 30, 2022

Elon Musk to buy Twitter for original offer...

October 5, 2022

CleverFiles Launches Revolutionary Free Online Video Repair Tool

November 7, 2024

An Analysis of the Top Performing UK Betting...

March 3, 2025

HGV driver shortage could become “critical” without urgent...

May 21, 2025

The Business Lessons of Online Sportsbooks

March 14, 2023

Female business owners offered £18,000 business boost with...

August 21, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Jeremy Hunt: ‘We’re over-medicalising anxiety and depression with sick notes’

      August 2, 2025
    • Cambodia to nominate Trump for Nobel Peace Prize for role in ending country’s conflict with Thailand

      August 2, 2025
    • WATCH: Trump says he is hopeful Hillary Clinton will be investigated for election fraud

      August 1, 2025
    • Trump moves nuclear submarines weeks after praising sub’s power in Iran strikes

      August 1, 2025
    • Recess on ice as Republicans hunker down for high-stakes nominee blitz

      August 1, 2025
    • Iran says it has ‘plenty of scientists’ left to restart uranium enrichment, despite US, Israeli strikes

      August 1, 2025

    Categories

    • Business (8,652)
    • Investing (2,168)
    • Politics (16,282)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved