THE DAILY BRIEFING

PROFITS UP

Hilton Food said favourable exchange rates helped lift half-year profit 26.7pc to £16.7m.

The firm, which processes beef and lamb for supermarkets, saw a 9.1pc rise in sales to £631.9m for the six months to July 17 and has expanded in Australia. It is also in the early stages of a partnership in Portugal.

It increased the interim dividend from 4.1p a share to 4.6p.

BREXIT BONUS

The founder of broker Shore Capital insisted the firm will benefit from Brexit as the UK’s decision to quit the EU offers the opportunity to ditch red tape.

Brexit-backing chairman Howard Shore said: ‘We have the flexibility to take advantage of the opportunities that Brexit will create.’

The group reported pre-tax profits of £2.4m for the first six months of 2016, down sharply on the £9.5m a year earlier.

MP PROBE

The Treasury Select Committee is launching an inquiry into Brussels’ controversial Solvency II regulations, which UK insurers claim discriminate against them.

It is one of the first major studies in Parliament to examine ways in which European Union regulations could be improved after the vote to leave.

TECH TRIUMPH

Technology firm IQE has announced an 18pc boost to revenues for the first half of the year.

Sales reached £63m for the six months to June 30, with profits up 71pc to £10.1m. Shares were down 0.9pc, or 0.25p, to 28p.

CLUB PLAN

Goals Soccer Centres wants to develop the restaurants and bars at 47 sites into a clubhouse concept, and is testing the £7.9m idea in Beckenham, Ruislip and Leeds.

The five-a- side firm posted a 2pc decline in sales to £17m in the six months to June 30.

STORE STYLE

Debenhams is to expand its Hammond & Co brand, launching ranges of underwear and bed clothes. It has been reinvented by Savile Row tailor Patrick Grant for the department store chain.

AFRICAN WOE

Former Barclays boss Bob Diamond is facing a setback in his bid to buy the lender’s African business after it was claimed US private equity group Carlyle pulled out of a consortium with his company Atlas Merchant Capital.

AGENCY AXE

MPs have urged Sport Direct boss Mike Ashley to axe Transline, the recruitment agency that supplies workers to his warehouse.

Transline is being investigated by industry body the Recruitment & Employment Confederation.

PRICE RISE

House prices rose 8.3pc in the year to July, according to the Office for National Statistics – down from 9.7pc the previous month.

The average price was £217,000 in July, up £1,000 from June.