Greene King sees a slow start to the year as World Cup hits sales September 10, 2014 British pub and breweries group Greene King announced yesterday that it expected sales in its core managed division to improve over the remainder of the year, after a disappointing 0.4 per cent growth in the first quarter due to the impact of England’s disappointing World Cup performance. The group also said that despite the UK’s [...]
Dollar Gen goes hostile in $9.1bn bid for Family September 10, 2014 US DISCOUNTER Dollar General yesterday went hostile in its $9.1bn (£5.64bn) bid for rival Family Dollar, making a direct approach to its shareholders after twice being shunned. The move could jeopardise Family Dollar’s agreement to sell itself to fellow discounter Dollar Tree for a lower cash-and-stock deal of $8.5bn, or $74.50 per share. Dollar General [...]
Thorntons sees profits rise 60pc September 10, 2014 Cost cutting at chocolate maker Thorntons helped it report a 60 per cent rise in annual pre-tax profit. Pre-tax profits for the year to 28 June rose to £7.5m, compared with £4.7m last year. The firm has undergone a three-year cost-cutting programme, closing 39 stores last year. It said that sales at stores which had [...]
Sweet teeth help Krispy Kreme post 22pc rise in quarterly profits September 10, 2014 DOUGHNUT retailer Krispy Kreme yesterday reported that its quarterly earnings rose 22 per cent as it posted stronger revenue, driven by sales at locations open more than 18 months. For the period ending 3 August, Krispy Kreme reported a profit of $5.8m (£3.6m), up from $4.7m a year earlier. Chief executive Tony Thompson said: “A key [...]
Housing market goes in reverse over August September 10, 2014 A fall in both house sales and mortgage approvals in August has backed growing evidence that the booming property market is at last slowing. A Royal Institution of Chartered Surveyors (RICS) survey showed the number of agreed house sales in August fell for the first time since September 2012, and new buyer enquiries fell for [...]
Skanska wins £600m Battersea Power Station building contract September 10, 2014 Skanska has been chosen as preferred bidder to redevelop the Battersea Power Station building, it emerged yesterday, in a major coup for the Swedish construction firm. The company is understood to have beaten Balfour Beatty, Lend Lease and Mace to win the estimated £600m job. A formal announcement is expected to be made within the [...]
Winkworth to expand in the commuter belt September 10, 2014 WINKWORTH has revealed a strong increase in sales in the last half year as the UK property market soared. The estate agent’s sales in the six months to 30 June were £2.49m, up 20.4 per cent on the same time last year. Profit before tax increased to £803,785, against £594,633 last year. Chief executive Dominic [...]
German venture capitalist Rocket heads for €5bn float in Frankfurt September 10, 2014 German venture capital firm and startup incubator Rocket Internet yesterday unveiled plans for a stock market listing in Germany that could value the company behind dozens of online start-ups at €5bn (£4bn), riding a wave of e-commerce flotations. Rocket, that replicates e-commerce businesses in a number of startups that it has launched around the world, [...]
London listing to raise $2.1bn for AngloGold September 10, 2014 SOUTH African mining giant AngloGold Ashanti yesterday announced plans to raise $2.1bn (£1.3bn) in a rights issue and spin its international assets into a new London-listed company. The Johannesburg-based mining firm, created by a merger between AngloGold and Ashanti in 2004, revealed it would focus on its core South African operations after the asset spin [...]
Ferrari chief zooms off into the sunset after 23 years at the wheel September 10, 2014 ITALIAN supercar maker Ferrari yesterday announced the resignation of chairman Luca di Montezemolo. The move brought to an end “23 unforgettable years”, he said yesterday. Montezemolo’s departure follows recent poor F1 racing results at Ferrari, which led to criticism from chief executive Sergio Marchionne of parent company Fiat, who will take over as Ferrari chairman. It [...]