Hays profits fall by 97pc as market continues to suffer February 25, 2010 RECRUITMENT giant Hays saw its profits plummet by 97 per cent for the half year after the continued slump in the recruitment market took its toll. Hays saw profits before tax fall to £3.4m for the six-month period ending 31 December 2009, marking a significant drop from the previous year when profits came in at [...]
UK transport companies in profits slide February 25, 2010 TWO of the UK’s leading transport companies have recorded pre-tax profit falls after difficulties with their rail arms. National Express and Go Ahead have blamed the losses on a lack of government subsidies for their rail franchises. National Express returned its East Coast Main Line contract to the government in November but could not prevent [...]
ANALYST VIEWS: WHAT DID YOU MAKE OF CENTRICA’S RESULTS? February 25, 2010 JONATHAN JACKSON | KILLIK CAPITAL Centrica was slightly ahead of market expectations. Earnings per share were maintained at 21.7p as a strong performance at British Gas Residential and a lower tax bill helped offset weaker wholesale gas prices and lower production. The outlook for 2010 is positive. LAKIS ATHANASIOU | EVOLUTION SECURITIES Solid set of [...]
CIBC and National Bank of Canada deliver stronger than expected growth February 25, 2010 TWO of Canada’s big banks kicked off earnings season with stronger-than-expected growth in profits yesterday, setting the stage for a rise in bank shares and upping the ante for rivals’ profits next week. Canadian Imperial Bank of Commerce said profit more than quadrupled in the first quarter, helped by volume growth in its retail markets [...]
EADS secures Airbus rescue February 25, 2010 EUROPEAN nations agreed yesterday to pump in €3.5bn (£3.1bn) to save the delayed Airbus A400M airlifter, but left key details unresolved after more last-minute haggling over loans and jobs. Technical problems have pushed the troop plane four years behind schedule and €11.2bn over budget, threatening 10,000 jobs. After savings and writedowns, Airbus parent EADS still [...]
Iberia bets on BA merger as it reveals record losses February 25, 2010 SPANISH airline Iberia posted a record operating loss yesterday, hit by declining air travel and underscoring challenges facing the industry as the airline seeks shelter in a merger with British Airways. “This market has changed for good. Traditional airlines as we know them will disappear, but we’re not crying here,” Iberia chairman Antonio Vazquez said. [...]
Centrica is confident on the future February 25, 2010 CENTRICA, the UK’s largest energy supplier, recorded a seven per cent drop in profit for 2009 due to lower wholesale gas and power prices. However, sales were up five per cent to £21.96bn and the supplier expects wholesale gas prices to rise again in 2010, although this is expected to be below levels seen in [...]
GKN sees its profits halve February 25, 2010 Automotive and aerospace engineer GKN said full-year trading profit halved but the outlook for its major markets is mainly positive. Trading profit fell to £152m for the year ended 31 December 2009 from £221m the year before. Sales for the period were down three per cent at £4.2bn.
Dunelm’s first half results cheer February 25, 2010 British homewares retailer Dunelm yesterday reported a 69.3 per cent rise in first-half pre-tax profit, with Seymour Pierce saying the results came in well ahead of its expectations. Dunelm posted first-half profit before tax of £46.2m, compared to £27.3m for the same period last year, and also proposes a return of capital to shareholders of [...]
Profits plunge at Bodycote February 25, 2010 Engineering firm Bodycote reported a decline in full-year pre-tax profit warning that it expects a full recovery from the slump to take several years. Headline pre-tax profit fell to £3.7m for the year ended 31 December from £67.6m a year before. Revenue declined to £435.4m from £551.8m the year before.