AngloGold sees 1m rand profits
Precious metal producer AngloGold posted profits of 1m rand (£75,856) for the first quarter yesterday, up from net losses of 11.9bn rand the previous quarter. It’s the African company’s first profit for seven quarters, and comes after demand from investors boosted the price of gold.
Skandia heads platform sales
Skandia topped gross platform sales in the first three months this year, grabbing a 36 per cent share on the top four platforms. According to the Lipper FMI first quarter platform report, total sales at the subsidiary of Old Mutual saw a marginal increase of 1.2 per cent on the previous quarter, despite the economic uncertainty. Unwrapped business made up 47.6 per cent of gross sales, by far the largest portion.
Cranswick brings home the baconSausage-maker Cranswick yesterday posted a 9 per cent rise in full year pre-tax profit, claiming sales of pork products had held up well in the recession compared to other more expensive meats. The group said rising raw material prices had been absorbed through a combination of efficiency gains and higher selling prices. Total sales grew by nine per cent to £653m, while pre-tax profit before exceptional items rose to £36.7m, from £33.7m last year.