Tag: record

Crosley reveal a new flagship record player: meet the C65 system

Crosley announces the C65 Record Player with speakers: a belt‑drive turntable that fuses retro design with today’s audio innovations. Launching at £289, the C65 is a full system for music fans and style seekers alike.
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​The C65 delivers powerful 50W stereo sound via its bookshelf speakers, powered by a pre-mounted moving-magnet Audio‑Technica ATN3600L cartridge. The cartridge can also be upgraded over time, giving you a system that evolves with you.

 A switchable amp means you can even add the C65 system to your existing or future hi-fi system or powered / active speakers. The whole system represents a step up as an upgrade path from all-in-one record players.
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​The C65 features seamless Bluetooth 5.1 streaming. Stream your playlists to the C65 from your phone and make the most of the speakers.
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​Featuring a ​ a full-size steel platter, aluminum tonearm with cue lever, adjustable pitch control, belt-drive DC motor, and resonance‑dampening feet, the C65 is a solid performer for anyone after a plug and play vinyl system
It accommodates both 33 ⅓ RPM and 45 RPM records and includes essentials like a 45-adaptor, slip-mat, dust cover, cartridge alignment protractor and spare NP5 stylus.

The Crosley C65 is priced £289 / $299.

Click for live retail links: UK retailers include HMV, Amazon, Gear4Music and your favourite independent record stores.

Record Numbers for National Womens Enterprise Day 2024

A new record attendance for National Women’s Enterprise Day was set at events that took place across the country today (October17th).  Over 2,200 female entrepreneurs and women in business attended the 14 Local Enterprise Office led events nationwide, the most that has attended the day since it’s inception in 2006.

It was also revealed that so far this year 64% of those who availed of training this year by the Local Enterprise Offices were women and that 61% of the participants in the Local Enterprise Offices Start Your Own Business programme in 2024 have been female.

Breege Cosgrave, Co-Chair of National Women’s Enterprise Day 2024, said; “It is fantastic to see a record turnout for this year’s National Women’s Enterprise Day.  Since Covid we have seen how important these events can be for helping female entrepreneurs and women in business to grow their networks and see there is support out there within their community to help get them started and to grow their businesses.  

We have 14 fantastic events across the country covering everything from getting started and funding through to digitalization and sustainability.  There’s something for everyone and some amazing businesses and female entrepreneurs telling their stories of how they got started and overcame challenges.  National Women’s Enterprise Day is vital for showcasing the very best of our female entrepreneurs and showing those who hope to take that leap in the future that the support is there.”     

This was the 18th year of National Women’s Enterprise Day (NWED) and the theme of this year’s event was, “Making it happen”.  The event aims to encourage businesswomen to take that next step whether that be to act on an idea, grow their business or take steps to change or innovate in their business.  The event also highlights the supports available to early stage small businesses from funding and grants to mentoring and training.

Some of those that took part this year included Aimee Connolly, founder and CEO of Sculpted by Aimee, Anne Heraty founder of CPL Resources, Oonagh O’Hagan of Meaghers Pharmacy, broadcaster and entrepreneur, Norah Casey, Martina Fitzgerald of Scale Ireland, entrepreneur Chupi Sweetman and broadcaster and podcaster Sile Seoige.  They were joined at the events across the country by a host of female led small businesses and start-ups are telling their story of how they began and made it happen with their ideas.

The Local Enterprise Offices also run a number of initiatives to foster entrepreneurship across the country. These include Local Enterprise Week, the National Enterprise Awards, the Student Enterprise Programme, Local Enterprise Village at the Ploughing Championships and Local Enterprise Showcase. The Local Enterprise Offices in local authorities are funded by the Government of Ireland through Enterprise Ireland.

Established in 2014, the Local Enterprise Offices are the essential resource for any entrepreneur looking to start a business or any small business that is looking for support or advice to help them grow. Since their inception eight years ago, the Local Enterprise Offices have helped create over 75,000 jobs across the country. The LEOs work with thousands of client companies across Ireland in a diverse range of sectors offering mentoring, training, expert advice and financial supports to small businesses.

For more information on National Women’s Enterprise Day go to www.LocalEnterprise.ie/NWED

Revolut’s revenues surpass $2.2bn, with record profits of $545m in 2023

Nik Storonsky, CEO of Revolut said: “This year, we took our biggest steps yet on our mission to deliver the best product and the best customer experience at great value to customers, everywhere. Our customer base is expanding at impressive rates, and our diversified business model continues to fuel exceptional financial performance, delivering revenues of over $2.2bn in 2023 and a record profit before tax of $545m. With a net profit of $428m, 2023 was our third profitable year in a row.

“Every day, our products create value for new customer segments and new global markets. We remain committed to our ongoing UK banking licence application in addition to bringing the Revolut app to new markets and customers around the world. Even as we reached 45 million global retail customers six months into 2024, Revolut remains poised for exponential growth in 2024 and beyond, continuing to redefine the financial services landscape as we’ve known it.”

2023 Performance Highlights 

Strong financial performance amidst wider market challenges (see Figure 1) 

Revolut delivered record profits and revenue growth, while navigating an increasingly complex geopolitical, macro-economic, and regulatory environment. 

– Group revenue increased by 95% from $1.1bn (€1.1bn) in 2022 to $2.2bn (€2.1bn). – Revolut has now been net profitable for three years in a row: 

– Profit before tax was $545m (€503m), and net profit grew to $428m (€395m), up from $7m (€7m) in 2022 

– Net profit margin for the year was 19%, reflecting the inherent efficiency and scalability of Revolut’s business model, improved partner unit costs, and continued growth of high-margin revenue streams. 

Accelerated growth driven by diversified revenue model, expansion into new markets and deepening customer engagement (see Figure 2)

Revolut’s revenue diversification continued to drive sustainable growth with no single product stream or country accounting for more than 30% of total revenue in 2023. – Over the year, Revolut added almost 12m new customers globally, the highest YoY increase in the company’s history, bringing the total to 38m in 2023. 

– 70% of new retail customers joined organically or were referred by someone they know. Word of mouth growth complemented by further investment into marketing and sales functions, including for Revolut Business which was onboarding 20,000 SMEs (small and medium enterprises) each month by the end of the year. 

– This growth was consistent across all revenue streams of Revolut’s diversified business model, with more customers engaging in more its products: – Cards & Interchange: $605m (€559m), up 59% from $379m (€352m); – FX & Wealth: $491m (€454m), up 46% from $334m (€310m); 

– Subscriptions: $303m (€280m), up 53% from $196m (€186.5m); 

– Total customer balances increased from $16.4bn (€15.2bn) to $22.7bn (€21bn). – Due to expanded treasury capabilities, higher customer deposits, alongside the tailwind of increases in central bank rates, and acceleration in the credit portfolio, interest income grew to $621m (€575bn) in 2023 compared to $102m (€95m) in 2022. 

– Customer usage accelerated with transaction volume increasing by 58%, reaching close to $870bn (€804bn). Monthly transactions as of Dec 2023 totalled 590m, up 73%. 

– An increasing number of customers have adopted Revolut’s services through paid subscriptions, with 41% growth in customers opting for a paid plan. 

– As of June 2024, Revolut is the most downloaded app in the Finance category in Europe, ranking first in 17 countries. 

– The company expanded into new markets, including Brazil and New Zealand, bringing its global footprint to 38 countries. 

Investing in best-in-class products and talent to meet consumers and businesses’ financial needs 

With a focus on core banking services in Europe, Revolut doubled down on reinvestment to support future growth, including product development and expansion into new markets. – $300m (€277m) was allocated to advertising and marketing to supplement our organic growth. We also scaled our B2B sales team to over 900 employees by the end of 2023, as we aim to better serve the needs of larger enterprises. Total headcount increased by 38% YoY to 8,152. 

– Revolut also developed new local features across key European markets: – IBAN: The company expanded local IBAN offerings for retail customers in France, Ireland, Spain and Netherlands. 

– Credit: Personal loans were launched in France, Germany, Spain as well as credit cards in Ireland and Spain. 

– Savings & Funds: Money Market Funds was launched across 22 countries in the EEA with balances reaching nearly $1.9bn (€1.7bn) since launch.

2024 outlook (see Figure 3) 

– Continued customer growth: As of June 2024, Revolut has reached 45m customers globally, representing an increase of 7m in the first 6 months of the year. The company is on track to surpass 50m customers by the end of FY24. 

– Expanding products and features: In addition to launching its existing suite of products in more markets, in the first six months of 2024, Revolut has launched: – eSIMs: Allowing customers to buy phone data packages through the Revolut app, signifying our push into non-financial services (available in the UK and select EEA markets). 

– RevPoints: Revolut’s loyalty programme – which enables customers to earn points on everyday spend (available in the UK and select EEA markets). – Revolut Robo-Advisor: A semi-automated tool that uses algorithms to manage investment portfolios, allowing customers to invest in a diversified tailored portfolio without spending hours on research and continuously managing their portfolios (available in the US and EEA). 

– New Global HQ: Revolut announced a deal to move its global HQ to the YY building in Canary Wharf. The move will help facilitate the future growth of Revolut’s UK and global operations. 

Focus on Ireland 

Revolut’s profitability has enabled it to invest in building the best-in-class products that Irish consumers rely on, while its growth is a result of continuing to innovate on its market-leading app. Revolut has gained the trust of more customers in Ireland, becoming their primary bank. 

– Revolut had 2.7m customers in 2023, an increase of more than 21% from the end of 2022, when Revolut ended the year with 2.2m customers. 

– Today, Revolut has fast become the best solution for customers to manage their finances daily. The brand has become a verb in Ireland, with “Revolut me” the typical way to send money between friends and family, or to children. 

– Revolut offers financial products for almost all needs in Ireland, ranging from current accounts, to credit cards, to investing; while mortgages remain firmly in the pipeline. – By the end of 2024, it has set its sights on reaching the 3 million customer mark. – Revolut isn’t just for retail either. At the end of 2023, Revolut had close to 52% more companies in Ireland using Revolut Business than at the end of 2022. 

As a major player in the Irish financial services sector, Revolut boasts many talented leaders who hold senior leadership roles across the bank, steering the company towards becoming the world’s first truly global financial app. Revolut’s ambitions are matched by its customers. 

– Revolut is an employer of choice, and has 10% more staff in 2023 than 2022 and over 23% more in 2024 (YTD) than 2023. It employs more than 175 people here, many of whom hold highly-skilled roles working out of Dublin and remotely across the country. 

– An increase in trust, talent, and ambition has seen Revolut capture the attention of the Irish market. After the launch of its up to 3.49% interest bearing Instant Access Savings accounts, Revolut received deposits in the region of 9-digits in a fortnight.

– Balances are up across the board by more than 50% (2022 vs 2023) and over 26% (2023 vs 2024 YTD), emphasising how its big ambitions are backed by its customers. 

Revolut was recently recognised by financial comparison site Bonkers.ie as ‘Ireland’s Best Consumer Business’ and ‘provider of the Best Current Account’, whilst it ranked 9th as part of the Ireland RepTrak® 2024 study earlier this year. 

The 2023 Annual Report can be viewed online or downloaded in pdf format at: revolut.com/financial-statements/

What Is The Record Date For Dividends

Dividends serve as a testament to the prosperity of a company and provide shareholders with a tangible return on their investment. They play a crucial role in the financial market, attracting potential investors and influencing trading behaviors. Among the numerous considerations surrounding dividends, one aspect that deserves special attention is the ‘record date’. 

Despite its pivotal role in dividend distribution, this term often goes unnoticed or misunderstood by many investors. This article demystifies the concept of the record date for dividends, elaborates on its significance in stock trading and portfolio management, and sheds light on its implications for different kinds of investors. Get ready to dive into the intricate world of dividends and the record date.

What Are Dividends?

So, the question that is usually raised is what are dividends? Essentially, they are returns on investment that a corporation distributes among its shareholders. These returns can take the form of cash payments or additional shares within the corporation. It’s a mechanism by which companies share a slice of their profits with those who have invested in their venture. The objective is to offer a direct financial benefit to the investors. 

These distributions, or dividends, can potentially serve as a steady and profitable source of income. This is particularly true for those who hold shares in companies with high dividend yields or for individuals who have demonstrated the patience to retain their shares over an extended timeframe. Thus, dividends are not just symbolic gestures of appreciation towards shareholders. They hold substantial monetary value, and can significantly enhance the financial gains from your investment portfolio.

The Mechanics of Dividends

Companies declare dividends on the announcement date, specifying the size of the dividend, the record date, and the payment date. Here, the ‘record date’ plays a crucial role.

Dividend record dates can be compared to a company setting a cut-off point to identify who will be part of their profit distribution. Think of it like reserving a seat for a theatre show. If you’ve bought company shares before a certain deadline, it’s like you’ve got your seat booked and you’re ready to enjoy the show – in this context, getting a slice of the company’s profits.

Nevertheless, should you opt to purchase shares on or after this particular date, it would be akin to having overlooked the final opportunity for reservations, resulting in your inability to witness the spectacle. In terms of dividends, this implies that you would not be entitled to a portion of the company’s profits. Such is the approach employed by corporations to determine which individuals qualify for dividend payouts and which do not.

Ex-Dividend Date and Its Importance

The record date is tied to another key concept in dividend distribution – the ex-dividend date. This is usually set for stocks two business days before the record date. If an investor buys a stock on its ex-dividend date or after, they will not receive the next dividend payment. Instead, the seller gets the dividend.

Let’s take Company A as an example. Say they announce they’re going to share profits and set June 10 as the record date. Now, there’s something called an ex-dividend date, which in this case, would likely be June 8. This is the last day you can buy shares and still get the profits.

So, if you grab some shares on June 7, or any day before, you’re in luck, the profits will come your way. But if you wait until June 8 or later to buy your shares, you’ll miss out. The profits won’t reach you. That’s how this whole record date and ex-dividend date business works.

Why the Record Date Matters

Understanding the record date and the associated ex-dividend date is vital for investors planning to buy or sell stocks. These dates affect trading decisions since they help determine whether a trade needs to be executed before or after the ex-dividend date to ensure the investor qualifies for the forthcoming dividend.

Furthermore, around these key dates, a company’s share price may experience volatility. This is due to the adjustment for the amount of the dividend payout on the ex-dividend date. Traders often monitor these dates closely, seeking to capitalize on short-term price movements.

Record Date in the Context of Dividend Reinvestment Plans

The record date also carries significance for investors who participate in Dividend Reinvestment Plans (DRIPs). These plans automatically use the dividends received to purchase more shares of the issuing company, often without any brokerage commissions. This strategy is particularly beneficial for long-term investors seeking to compound their returns over time.

As with regular dividend payouts, eligibility for dividend reinvestment is also determined by the record date. Understanding these timelines ensures that investors can effectively use DRIPs as part of their investment strategy.

Conclusion

Navigating through the maze of investing terminologies and practices can seem daunting, especially for those new to the world of finance. However, once unraveled, concepts like the record date for dividends can be a powerful tool in one’s investment arsenal. Though it might appear as a mere date on a company’s financial calendar, it is in fact a pivotal checkpoint that determines who reaps the benefits of a dividend payout. 

As we have elucidated, understanding this concept is far from trivial – it is a linchpin in effective portfolio management, empowering investors to make strategic trading decisions that amplify their potential returns. As with all aspects of investing, knowledge is indeed power. So, the next time you consider buying or selling stocks, remember the importance of the record date and harness this knowledge to maximize the yield from your investments.