FTSE steadied by Greek breakthrough July 21, 2011 The FTSE 100 started solidly this morning as it emerged that France and Germany had reached an agreement on a second bailout for Greece. Banks led the way as investors gained confidence in stocks recently buffeted by fears of exposure to the debt crisis which has engulfed the Eurozone. Leaders of the 16-country bloc will [...]
Wickes to buy 13 Focus shops from administrator May 17, 2011 FOCUS DIY’s administrators yesterday agreed the sale of 13 stores to Wickes Building Supplies, saving 345 jobs in the process. Ernst & Young said it was in “detailed discussions with a number of interested parties” over the sale of further stores. Focus went into administration earlier this month after being hit by the weak housing [...]
FTSE rallies on strong corporate news March 25, 2011 Strong corporate earnings data have pulled stocks back to levels prior to Japan’s earthquake and tsunami crisis today despite fresh unrest spreading in the Middle East. The FTSE 100 closed up 0.34 per cent at 5,900.76 as traders bought into undervalued stocks and positive broker notes while remaining unfazed by geopolitical issues. “The speed of [...]
Kingfisher in plan to boost global growth March 24, 2011 KINGFISHER yesterday unveiled a five-year plan to transform the business with massive growth and a campaign to breathe new life into the flagging UK DIY market. The bold blueprint was unveiled as the B&Q owner reported a 22.5 per cent rise in pre-tax profits to £670m in the year to 29 January. However total sales [...]
Kingfisher in profit boost February 17, 2011 B&Q owner Kingfisher yesterday forecast a 20 per cent rise in annual profits after strong overseas growth offset weak trading in the UK. The group said it expects adjusted pre-tax profits for the year ending last month to be at the top end of City expectations at £672m. Strong sales in countries such as Poland [...]
Ian Cheshire to join the DWP board as non-exec January 31, 2011 IAN Cheshire has been appointed as the lead non-executive member on the Department for Work and Pensions (DWP) board. The outspoken Kingfisher chief executive is no stranger to politics. He threw his weight behind a high profile campaign by the Tories to reverse a hike in National Insurance, proposed by Labour before their election defeat. [...]
Cheshire joins Whitbread to replace Tesco bound Clarke January 27, 2011 WHITBREAD has appointed Ian Cheshire, pictured left, as a non-executive director to replace Philip Clarke. The pub group said yesterday Clarke, pictured right, will be stepping down from the board when he takes up the chief executive role at Tesco in March, replacing Sir Terry Leahy at the supermarket giant. Cheshire, who will start his [...]
Focus owners seek financial help or a sale October 31, 2010 THE owners of the UK’s fourth-largest DIY chain Focus are looking to investment bankers to advise on the future of the heavily debt laden business, which could lead to a sale. US based private equity firm Cerberus is taking advice from Lazard on the future of Focus, and is in talks with its banks about [...]
Kingfisher in warning over tough times September 16, 2010 KINGFISHER yesterday said that it had beaten its first half profit forecast – but the home improvement giant warned that consumer confidence would not be fully restored until at least 2012. The B&Q owner made a pre-tax profit of £354m in the 26 weeks to 31 July, which it achieved through cost cutting rather than [...]
Kingfisher sees sales dip as UK stores struggle on July 22, 2010 B&Q owner Kingfisher said yesterday it was on track to meet first-half profit expectations, with cost cutting and business improvement measures offsetting a dip in underlying sales. The firm, which runs Castorama and Brico Depot chains in France said sales at stores open at least a year fell 0.8 per cent in the 10 weeks [...]