ANALYST VIEWS: WHAT IS YOUR OUTLOOK FOR DEBENHAMS? March 20, 2012 KEITH BOWMAN | HARGREAVES LANSDOWN Debenhams continues to be given the benefit of the doubt. Self-help measures have propelled a group recovery, with moves overseas and online further supporting investor sentiment. With the valuation still seen as reasonable and hopes of a share buy-back persisting, market consensus denotes a buy. ANDREW WADE | NUMIS Debenhams [...]
Metro sees flat earnings this year as economy woes weigh March 20, 2012 GERMANY’S Metro, the world’s fourth largest retailer, yesterday said it did not expect earnings to grow in 2012 due to a stuttering global economy and costs from expanding its cash and carry and consumer electricals stores businesses. The group, which also runs hypermarkets and department stores, said sales should grow in the coming year, but [...]
AstraZeneca gives up on Targacept antidepressant March 20, 2012 ASTRAZENECA has thrown in the towel on an experimental antidepressant targeting nicotine receptors after the drug licensed from Targacept failed in two remaining clinical trials, thinning out its pipeline further. While the news had been widely expected, since two previous Phase III studies also missed their targets, it hit shares in Targacept hard and the [...]
Equistone buys Audley Travel March 20, 2012 The private equity house hived off from Barclays last year has taken a majority stake in touring firm Audley Travel in a deal in the region of £90m. Equistone Partners Europe said it bought into the Oxfordshire firm because it had proved to be “resilient” through the downturn. Its founders will remain on the board.
Oil prices to knock air profits March 20, 2012 The International Air Transport Association has cut its forecast for global airline profits this year due to a sharp rise in oil prices, saying a spike to $150 per barrel could lead to losses as high as $5.3bn (£3.3bn). In its financial forecast for 2012, IATA forecast industry profits of $3bn yesterday, down from a [...]
Colliers extends bid deadline March 20, 2012 Property services group Colliers has extended its “put up or shut up” deadline for its majority shareholder Firstservice to make a bid for its troubled UK arm for a second time. Firstservice remains in “constructive discussions” with stakeholders, and how has until 3 April to bid.
HP to merge PCs and printers March 20, 2012 Hewlett Packard chief Meg Whitman plans to combine the computing giant’s PC and printing divisions in a major internal overhaul intended to spur combined sales of hardware to customers, two sources familiar with the move said yesterday.
SuperGroup shakes up team at the top March 20, 2012 SUPERGROUP has added two new executives to its board as the fashion house looks to strengthen its management team and expand its presence overseas. The company behind the Superdry brand said that Susanne Given, formerly John Lewis’ director of fashion and beauty, will take up the newly created role of chief operating officer next month. [...]
Mobile arm fuels surge at M&C Saatchi fuelled by UK and mobile March 20, 2012 M&C SAATCHI grew its revenues 22 per cent to £153.1m last year on the back of its growing mobile division and a strong performance in the UK, leading to the advertising giant’s best year-on-year turnover hike since floating in 2004. The group said the UK accounts for almost 60 per cent of its pre-tax profits, [...]
Tablet boom gives a boost to gaming March 20, 2012 GAME revenues from tablets are expected to grow from last year’s $491m (£309.6m) to $3.1bn by 2016, said Juniper Research, as Apple announced it had sold three million new iPads since last week’s launch. Report author Charlotte Miller said: “Tablet owners tend to have a larger disposable income… Higher user satisfaction with games and a [...]
