Cenkos reckons profits are solid September 17, 2013 STOCKBROKER Cenkos Securities has posted a slight fall in revenues and profits, which boss Jim Durkin said was “a solid, profitable performance”. Cenkos, which focuses on small and mid-cap companies, said it had 122 clients on its books at the end of June, up from 118 a year ago. Profits before tax from continuing operations [...]
Jefferies feels the pain over Fed tapering September 17, 2013 INVESTMENT bank Jefferies yesterday reported an 83 per cent plunge in third quarter profits after being squeezed by this summer’s bond market nervousness. The bank, which has London offices on Upper Thames Street, said net income – a measure of profit – fell from $70.2m a year ago to $11.7m for three months ending August. [...]
Investec trips up after South African currency slides lower September 17, 2013 FINANCE outfit Investec yesterday delivered a disappointing performance update after a weak currency and hesitant customers undercut expected earnings. The company, which is dual-listed in South Africa and the UK, said half-year profits measured by earnings per share could fall by up to 10 per cent thanks to a slide in the rand and sterling [...]
Warm summer and web growth lift Debenhams September 17, 2013 A FLEDGLING economic recovery is likely to take time to feed into stronger consumer spending, department store group Debenhams said yesterday, as a hot summer and online growth helped to lift its quarterly sales. Shares in the 200-year-old firm, which trades from 236 stores across 28 countries, rose as much as 4.4 per cent yesterday [...]
Analyst Views: Has Debenhams’ strong summer made a lasting impression? September 17, 2013 JOHN STEVENSON | PEEL HUNTOverall, a stable end to the year, benefiting from the favourable weather conditions. Being slightly churlish, we had hoped for the warm weather to have had a clearer benefit to margin delivery, although Debenhams stuck to its set promotional calendar and exited the season well. KATE CALVERT | CANTOR FITZGERALD2013 has [...]
Heathrow to keep Rudd as its chairman September 17, 2013 HEATHROW Airport’s parent company will renew Sir Nigel Rudd’s contract as its chairman until 2016, keeping him on board as the airport navigates the government’s looming decision on airport expansion. Sir Nigel, an industry veteran, has decided to stay with Heathrow Airport Holdings to help fight the case for a third runway, according to Sky [...]
Chinese boost not big enough to hit Prada target September 17, 2013 ITALIAN luxury fashion house Prada posted a 7.6 per cent rise in first-half profits yesterday, lifted by solid growth in its key greater China market but the result was lower than what analysts had expected. The maker of luxury leatherware and Miu Miu-brand dresses said its net profit for the six months ended July was [...]
Coty’s warning on slowing sales takes shine off maiden results September 17, 2013 COTY, the American cosmetics firm that floated in June, said revenue was likely to decline marginally this quarter as growth slows in the United States and Europe. The warning took some of the lustre off stronger-than-expected results in the firm’s first report as a public company. Coty, which listed after failing to take over Avon [...]
ENRC steps up legal battle with former director September 17, 2013 ENRC’S legal battle with city veteran Sir Paul Judge took a new turn this week, when the troubled miner produced transcripts it claims prove the former director leaked price-sensitive and confidential information to a journalist. ENRC, which is due to delist after more than five years on the FTSE 100, sued Judge back in July, [...]
Berlusconi firm faces massive fine after losing court battle September 17, 2013 THE FAMILY holding company of former Italian Prime Minister Silvio Berlusconi was ordered yesterday to pay €494m (£415m) in damages stemming from the purchase of publisher Mondadori. The final ruling by Italy’s top appeals court was a fresh blow to Berlusconi, 76, already reeling from a supreme court verdict which confirmed a four-year jail sentence [...]