PRESS DIGEST- British Business - April 25
April 25 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
COPENHAGEN, March 22 Danish jewellery maker Pandora officially inaugurated a new crafting facility in Lamphun near Chiang Mai in northern Thailand on Wednesday.
* The facility has halved the production time for a standard piece of jewellery to four weeks, mitigating earlier challenges delivering new designs to the stores fast enough
* The facility, which was finished in October, will employ up to 5,000 people when fully utilized at the end of next year, Pandora said in a statement
* It is part of a programme designed to double the production capacity compared to 2016 to more than 200 million pieces of jewellery a year by end-2020.
* Pandora will in total invest 1.8 billion Danish crowns ($261.1 million) in the programme, which also includes a new facility in Bangkok and optimisation of existing facilities in Bangkok
* Thailand has granted Pandora eight years of tax exemptions related to the new facilities in Lamphun and Bangkok, Pandora said in its third-quarter report last year
* Pandora said last month that it expects a 13-18 percent increase in revenues this year, down from a 21.5 percent rise last year. ($1 = 6.8948 Danish crowns) (Reporting by Teis Jensen, editing by Terje Solsvik)
April 25 The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.