ANALYST VIEWS: WILL WE SEE SALES IMPROVE AT HOME RETAILL ? March 15, 2012 PHILIP DORGAN | PANMURE GORDON There is not much to see here. The period has been short and is low volume. The figures are poor, but not unexpected. Argos may benefit from the demise of Game, but there are plenty of other retailers competing for the same business. DAVID JEARY | INVESTEC The news is [...]
Olympics and US elections good for Aegis March 15, 2012 AEGIS said this year’s London Olympic Games and US presidential election will further boost the marketing and advertising company after a year which saw profits rise by 32 per cent. This year’s public events, including the Euro football championship, will grow global ad spend by six per cent according to Aegis subsidiary Carat. While the UK [...]
Trinity Mirror seeks new revenues as profits fall March 15, 2012 TRINITY Mirror boss Sly Bailey has had her pay frozen this year after shareholders raised concerns with the company which saw its pre-tax profits drop 40 per cent to £74.4m last year. Revenues fell two per cent to £746.6m, with operating profit down 33 per cent to £92.4m “reflecting the impact of input cost increases, [...]
Acquisitions boost Playtech March 15, 2012 Playtech, the world’s biggest provider of online gaming software, said 2012 had started well following a series of acquisitions that have bolstered its presence in a booming internet gambling industry. The Estonia-based company, which operates a joint venture with Britain’s biggest bookmaker William Hill, reported 46 per cent revenue growth to €207.5m (£173m), with adjusted [...]
TT set for uncertain year ahead March 15, 2012 TT Electronics’ pre-tax profit rose by more than a quarter in 2011 to £31.8m on strong sales in the premium car market, but the company said it expected the wider economic uncertainty to hurt demand at its key electronics components unit – which accounts for 41 per cent of the group’s revenue – in the [...]
H&M sees February sales rise March 15, 2012 Sales at world no.2 fashion retailer Hennes & Mauritz’s established stores unexpectedly grew for a third consecutive month in February despite gloom in its biggest market Germany. Turnover at the Swedish firm’s stores open a year or more grew two per cent in local currencies, against an average forecast for a one per cent drop. [...]
F&C takes hit as outflows reach £7bn March 15, 2012 SHARES in F&C Asset Management sank nearly five per cent yesterday after it posted £7.2bn of net outflows during last year. The fund management firm, which has endured a turbulent 12 months including a boardroom coup and a series of job cuts, saw total assets under management drop 5.4 per cent to £100.1bn after the [...]
Wind down of PE fund may take five years March 15, 2012 THE WIND down of troubled private equity fund LMS Capital will take between three and five years, it said yesterday. LMS is realising its funds after a peace deal was agreed at the end of last year following a public dispute between shareholders. Yesterday the firm said it aims to make initial payments to shareholders [...]
Deposits growth helps Arbuthnot raise profits March 15, 2012 ARBUTHNOT Banking, one of Britain’s smaller financial services groups, posted a 24 per cent rise in annual pre-tax profits, helped by growth in customer deposits and loans. Arbuthnot, whose activities include private and retail banking, reported pre-tax profits of £5.1m for the year ending in December, up from £4.1m last year. The company, which listed [...]
Investec eyes upturn as deals drought hits profit March 15, 2012 THE DIRE performance of the investment banking industry claimed another scalp yesterday as Investec warned that earnings would fall by up to 27 per cent. The bank, a Test cricket sponsor with a London listing, was hit by the global slump in primary deals, particularly in its South Africa homeland. It experienced mixed results across [...]
