Big Question - World Cup will hit business
A third of financial directors have said the World Cup, which kicked off yesterday in France, will affect the profitability of their business.
Of the 200 FDs questioned in this week’s Big Question survey by Accountancy Age and Reed Accountancy Personnel, 33% said the World Cup will have a direct effect on profits. Of these, 17% said the tournament would boost profits.
Andy Hall, group financial controller of brewer Whitbread, which also operates Thresher off-licences, said: ‘With so many people watching the games at home, Thresher expects to sell 24 million cans of beer and 252 tonnes of chocolate.’
But 15% of FDs said the football extravaganza would harm profitability.
‘Games in work time could pose a problem, particularly if England or Scotland do well,’ said Andy Polkenhorn, of Poole-based glass manufacturer Pilkington.
Most of those FDs questioned, however, remained neutral on the subject.