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The Southgate effect

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A shocker today from vet products maker Dechra Pharma, which said in an RNS that it is doing well.

The shocking bit? It admitted it does not know why.

Chief executive Ian Page says: “The reasons for this growth are not yet fully clear with evidence of increased companion animal numbers remaining unconfirmed at this point.”

I have never seen a CEO cough to this before. Quotes in statements to the stock market are usually bland, but in general if there is credit to be taken, the CEO will take it.

When things are going well, it is a clear result of his brilliant strategy. When they are going badly, that is plainly due to things outside of his control.

CEOs often play expectations management – say they are doing well now but that it cannot last.

They never say, until today, we are doing well but I dunno why.

I’ve never spoken to Ian Page, but aren’t we all just inclined to think he must be a good bloke?

It is journalistically tempting to see this as a Gareth Southgate effect – an outbreak of national niceness.

It’s probably got nothing to do with him, but is welcome all the same.

Should the government scrap the “triple lock” on state pensions?

The issue has been around for yonks, but the momentum seems to be growing.

A report recently said keeping it will soon cost another £4 billion a year due to wage rises.

This from Barnett Waddingham says scrapping the lock will hurt women much more than men, since they are more likely to be reliant on the state pension.

That should be a significant part of the debate.

See Press Release


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