HORTENSIA HERRERA: Wife of Mercadona’s Juan Roig received €59.5 million in dividends in 2023
Credit: Hortensia Herrera
A family affair Hortensia Herrera, the wife of Mercadona founder Juan Roig, received €59.5 million in Mercadona dividends last year.
Herrera’s 27.71 per cent holding makes her the supermarket chain’s second most-important shareholder but over the years she has also built up a personal fortune via Herrecha Inversiones,
Investments include the recently-acquired 30 per cent of made-to-measure furniture company Grupo Malasa whose principal client is the Inditex clothing giant.
Although Herrera is Herrecha’s sole shareholder, her four daughters – Hortensia, Carolina, Juana Clara and Desamparados are on the board.
According to annual accounts submitted to the Registro Mercantil, equivalent to the UK’s Companies House, Roig’s wife has earned €464 million in Mercadona dividends over the last 10 years.
No change THE likelihood of an interest rate cut receded after the UK inflation rate remained unchanged at 2 per cent in June.
A hoped-for reduction thanks to lower prices for clothes and cheaper second-hand cars was foiled by a rise of almost 9 per cent in the price of hotels attributed to the “Taylor Swift effect” on accommodation prices during the singer’s series of concerts.
Based on the June figures from the Office for National Statistics, the next Bank of England meeting on August 1 was unlikely to announce reduction in the current 5.25 per cent bank rate the City said.
Mango goes up Spanish fashion chain Mango reported half-year sales of €1.54 billion, a 6.3 per cent increase on the same period in 2023.
Victoria Beckham’s capsule collection helped to boost womenswear sales by 4 per cent, men’s clothing jumped 21 per cent during the same period with an 11 per cent increase for children’s and teenagers’ lines.
The first-half figures arrived after the group closed 2023 with record sales of €172 million, compared with €81 million in 2022 with revenues expected to top €3.36 billion by 2026.
Out of fashion Linda Hall Burberry has suspended its dividend, replaced its chief executive and issued its second profit warning this year.
“Disappointing” revenue fell 20 percent during the second quarter that ended on June 29 and shares fell by 16 per cent at close of trading on July 15.
Chief executive Jonathan Akeroyd left the company “with immediate effect and by mutual agreement” the same day, while Burberry replaced him with Joshua Schulman, former chief executive of US brand Coach who received a £9.2 million (€10.9 million) “golden hello.”
Wine selloff Pernod Ricard is selling its international wine brands as it shifts its focus to spirits and champagne.
The French company’s portfolio of wines produced in Spain, Australia and New Zealand will now belong to Australian Wine Holdco, a consortium of international institutional investors which is already the owner of Australia-based Accolade Wines.
The deal should be completed by the second half of 2025 and in Spain will affect the Campo Viejo, Ysios, Tarsus and Azpilicueta bodegas.
Pernod Ricard, a rival to the UK’s Diageo, did not reveal how much it would make from the sale, but said that between them the bodegas produced an annual 10 million cases of wine.
The bank is launching the scheme in Pudsey (West Yorkshire) but announced that it was also reviewing possible sites elsewhere in the UK that could be suitable for similar projects.
Lloyds said it would sell the Pudsey site to a local housing group with the understanding that 80 new homes will be rented out at around half the going rate.
Too hot Workplace accidents caused by high temperatures rose by 24 per cent in Spain in 2023.
Independent research by the UGT union found that 199 people had to take time off work owing to heatstroke, 27 per cent up on 2022.
Accidents resulting from exposure to extreme heat, light and radiation increased by 18 per cent to 105.
The report predicted that these types of accidents would inevitably intensify and warned that the official figures probably did not include all incidents.
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Originally from the UK, Linda is based in Valenca province and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share?
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