Property business buoys Kier Group September 13, 2012 Construction firm Kier Group this morning reported a two per cent rise in full-year profit, as it battled tough trading conditions. Strong performance in its property division helped the construction company, whose operations range from building power stations to providing outsourcing, report pre-tax profit of £70m in the year to 30 June, up from £68.9m [...]
Next posts profit but says late summer sales disappointing September 13, 2012 Fashion retailer Next posted a 10.2 per cent rise in first-half profit this morning, as it warned that sales in late summer had been “disappointing”. Profit at the retailer, which has over 500 stores in the UK and Ireland, climbed to £251m over the first half, while revenue increased 4.8 per cent to £1.6bn. Next [...]
John Lewis posts leap in first-half profit September 13, 2012 Profits at British retailer John Lewis jumped 60 per cent in the first half of the year, after strong sales growth at both the department stores and Waitrose brand. John Lewis made a pre-tax profit of £144.5m in the six months to 28 July, boosted by the Jubilee and Olympic Games. Group revenue climbed 8.6 [...]
Banks must change sales incentives, says incoming Barclays chairman September 12, 2012 Banks must curb their focus on incentives and open themselves up to more scrutiny, the incoming Barclays chairman said this morning. Speaking to MPs this morning as a witness in an inquiry into banking standards, sir David Walker said banks should be forced to disclose how many staff earn a salary of more than £1m [...]
UK jobless numbers fall September 12, 2012 UK unemployment fell by 7,000 to 2.59m in the three months to July, according to official figures from the Office for National Statistics. The rate of unemployment fell by 0.1 per cent to 8.1 per cent. In addition, the number of people claiming unemployment benefit fell by 15,000 in August, the largest fall since June [...]
FTSE 100 jumps on German court ruling September 12, 2012 The leading share index was up in early trading, as investors reacted positively to news that German judges ruled in favour of the Eurozone’s rescue fund. Meanwhile, holding company Chesnara led the fallers on the FTSE All-Share, down 6.87 per cent. Embattled platinum miner Lonmin shed 5.56 per cent, as strikes continued at its Marikana [...]
Germany gets green light for bailout fund September 12, 2012 Germany’s Constitutional Court this morning ruled in favour of the Eurozone’s rescue plans. Ruling that an injunction against the European Stability Mechanism (ESM) and fiscal compact was largely unfounded, the judges said that Germany cannot increase its financial exposure beyond €190bn to the bailout fund without parliament’s approval first. It also said ESM decisions must [...]
Housebuilder Barratt posts strong bounce in profit September 12, 2012 Housebuilder Barratt Developments posted a strong bounce in profits this morning, up 159 per cent over the year to 30 June. Investment in higher margin land and an increase in volumes helped to flatter profits over the period. Group revenues jumped 14.1 per cent to £2.3bn, with completions of 12,637 units over the year. Average [...]
Kingfisher profit hit by monsoon summer September 12, 2012 DIY group Kingfisher today reported a plunge in pre-tax profits for the six months to 28 July, hurt by record wet weather in the UK. Profit plummeted 15.5 per cent to £371m, down from £439m over the same period last year as seasonal product sales were down seven per cent, resulting in a higher number [...]
Australia’s AAA rating safe for now, says Moody’s September 12, 2012 Credit rating agency Moody’s said today it saw no reason to downgrade Australia’s prized AAA rating, despite tumbling commodity prices that have led to miners scrapping jobs in the country. Iron ore and coal prices have fallen over the past few weeks, prompting fears that Australia’s mining boom may be coming to an end. The [...]
