Hedgies stage mini-recovery January 19, 2012 AN upturn in performance in the final quarter helped the beleaguered hedge fund industry take total capital invested above $2 trillion (£1.29 trillion) at the end of last year, new research says. Assets under management recovered to $2.01 trillion at 31 December, up two per cent from the end of the third quarter, according to [...]
CANDY BROTHERS SEEK ENLIGHTENMENT WITH SERENE NEW TENANTS January 19, 2012 THE BEST things come to those who wait – and this week the Candy brothers have finally revealed two new tenants for their One Hyde Park development. About time for the block of super-apartments that has secured just three full-time residents one year after launch. Except – unfortunately for the Knightsbridge complex that has been [...]
Primark helps AB Foods lift its revenues January 19, 2012 DISCOUNT fashion chain Primark hailed strong sales during the festive period, helping its parent company Associated British Foods (ABF) post a rise in first quarter revenue. The FTSE 100 company, which also owns brands including Silver Spoon sugar and Twinings tea, said a 16 per cent growth in sales at Primark helped boost group revenues [...]
ANALYST VIEWS: IS ASSOCIATED BRITISH FOODS ON TRACK? January 19, 2012 GRAHAM JONES | PANMURE GORDON Associated British Food is our top large-cap pick for 2012, and believe this statement supports our thesis of strong earnings per share growth this year, albeit second-half weighted. We strongly reiterate our “buy” recommendation. MARTIN DEBOO | INVESTEC This felt like a decent quarter to us, with Primark and Sugars [...]
ASOS BOUNCES BACK AS IT POSTS STRONG DECEMBER TAKINGS January 19, 2012 ASOS, the online fashion retailer, kicked the retail gloom to report a 46 per cent rise in sales in the third quarter boosted by rapid growth overseas and a solid performance in its domestic market. UK sales growth bounced back to 10 per cent in the second quarter from one per cent in the previous [...]
Online sales last year hit £50bn mark January 19, 2012 ONLINE retail sales in the UK surged by 14 per cent last year to more than £50bn, as consumer appetite for shopping online continues impact the high street, new research shows. The report, commissioned by price comparison site Kelkoo, reveals that online shoppers spent an average of just under £1,500 each on 39 items last [...]
Mulberry ups forecasts as festive rise in turnover boosts share price January 19, 2012 LUXURY fashion brand Mulberry raised its annual profit forecast yesterday, after it enjoyed a 41 per cent rise in festive sales during the six weeks to 14 January. Like for like sales were up 35 per cent over the same period and wholesale orders for its spring/summer line were up 35 per cent on last [...]
CITY VIEWS: HOW MUCH OF YOUR CHRISTMAS SHOPPING DID YOU DO ONLINE? January 19, 2012 GAURANG MELATA | AVIVA “I always buy online. It’s flexible, you cut out the middleman and you don’t have to try on things in store and then queue to pay for them.” NOEL PATTERSON | PATTERSON & JAMES CONSULTING “I shopped mainly on Amazon this year. There are no drawbacks to shopping online. You have [...]
Car industry boosts UK as exports jump January 19, 2012 CAR MANUFACTURING expanded quickly in the UK last year, with exports accounting for a record share of output, figures from the Society of Motor Manufacturers and Traders (SMMT) revealed yesterday. This increase shows the sector “continues to lead the manufacturing recovery,” said the SMMT’s Paul Everitt. However, output of commercial vehicles declined and engine production [...]
Motor sector is no longer such a joke January 19, 2012 IN the Christmas Top Gear special, Jeremy Clarkson and co travel across India in a trio of clapped out British motors: an unreliable Jaguar, an ageing Rolls-Royce and an original Mini. The running joke is that Britain has little to offer the Indians – or anyone for that matter – in the way of cars [...]
