Laura Ashley prints are back in fashion after retailer cuts prices March 28, 2014 LAURA Ashley says customers fell back in love with its floral patterns in the second half of its year after a tough first half dragged full-year sales down 1.4 per cent to £294.5m. Finance chief Sean Anglim admitted that it may have alienated its core customers by making its clothing too expensive after fashion sales [...]
KPMG to open Mayfair office March 28, 2014 Accountancy group KPMG is poised to take office space in Mayfair, creating a base for clients that find the trip to its Canary Wharf headquarters too arduous. KPMG, which is moving its 6,700 London staff to the Docklands next year, is in exclusive talks for a client hub at 20 Grosvenor Street. The lease on [...]
Hilton delivers beefed up results March 28, 2014 Higher meat prices and currency movements working in its favour helped meat packing firm Hilton Food deliver better than expected sales last year. The company said sales increased by 9.1 per cent in the year to 29 December. A strong performance in Denmark and Holland where it launched new products helped offset weaker sales in [...]
H&M’s online focus hurts profits March 28, 2014 H&M posted lower than expected first quarter profits yesterday after the high street giant invested heavily in growing its online businesses to catch up with its rivals, and due to higher markdowns. The world’s second largest retailer said that pre-tax profits rose eight per cent to 3.5bn Swedish crowns (£325.3m) in the three months to [...]
Daily Mail shares slide as ads disappoint March 28, 2014 DAILY Mail and General Trust (DMGT) – publisher of the Daily Mail and The Mail on Sunday – warned yesterday that its advertising revenue over the last four weeks has fallen seven per cent due to the late Easter hurting advertising. Shares tumbled 7.3 per cent to 893.5p following the announcement as investors reacted to [...]
Compass upbeat on sales despite warning of currency headwinds March 28, 2014 COMPASS, the world’s largest catering giant, has said first-half sales will be four per cent ahead of the last year thanks to contract wins in North America and a recovery at its European business. The company said yesterday it is encouraged by its pipeline of new contracts, and also forecasts an increase in its operating [...]
Horizon Discovery stock goes to a premium on first day’s trading March 28, 2014 SHARES in life science research tools supplier Horizon Discovery got off to a sparkling debut on the first day of dealings yesterday. Cambridge-based Horizon, which has been ranked as one of the fastest growing biotechnology companies in Europe by Deloitte, raised £40m in new money as part of its initial public offering at 180p, with [...]
EU may reboot securitisations market for SMEs March 28, 2014 INVESTORS and banks will be encouraged to lend to small businesses under a series of reforms unveiled by the European Commission yesterday. Brussels wants to create fund products to make it easier for investors to buy a diversified portfolio of SME equity or debt products. And the Commission is considering reducing the cost to investors [...]
UK video game developers win tax break battle March 28, 2014 THE UK video games industry yesterday finally secured EU approval for tax relief that will make developing games in the UK more attractive to publishers. Just a quarter of games produced in the UK are expected to be eligible for the relief, which will only be offered to those deemed to be of cultural value. [...]
Old Mutual sells German insurer to joint venture March 28, 2014 UK LISTED fund manager Old Mutual has sold its German and Austrian insurance division to private equity firm Cinven and reinsurer Hannover. The all-cash deal, which will reap Old Mutual €220m (£181.9m), is part of the group’s bid to slim down its work in Europe and move its focus to faster growing markets overseas. Cinven [...]