New digital strategy can’t stop Yell’s drop February 14, 2012 SHARES in Yell took a steep tumble as the directories group revealed its revenues dropped 15 per cent to £382.8m in the third quarter. The company, which has suffered in the rise of the digital era, said revenues from print and directory enquiry services were down 22 per cent to £269.8m, sending Yell’s stock to [...]
Apple iPad rumour mill whirls despite problems in China February 14, 2012 THE HUNGRILY-AWAITED iPad 3 could run on fourth generation networks when released in the US later this year, with top American wireless providers AT&T and Verizon vying for the carrier deal. Apple is expected to announce details of its latest tablet offering in the first week of next month, with some sources pointing specifically to [...]
Directory publisher comes up short February 14, 2012 REMEMBER the 1997 Yellow Pages Christmas advert? The one where a little boy steps on the directory to kiss a girl under the mistletoe because he is too short to reach her otherwise. These days, the Yellow Pages is tiny, a shadow of its former self, barely bigger than a paperback novel. The boy in [...]
Sibling rivalry: Samsung boss sued by brother for inheritance sum February 14, 2012 THE CHAIRMAN of Samsung is being sued by his brother for 700bn Korean won (£397m) over an inheritance of company shares from their father. Lee Maeng-Hee, 80, is suing Lee Ken-Hee, the 70 year old chairman of the South Korean electronics company, over eight million shares in Samsung Life Insurance and 20 shares in the [...]
Hampson puts itself on the auction block February 14, 2012 AEROSPACE group Hampson Industries said it had put itself up for sale yesterday, nearly three months after saying it was considering strategic options for two of its units. FTSE-listed Hampson has £54.9m in debt, more than double its current market capitalisation, and has been working to refinance its bank facilities. The company said it appointed [...]
AVON SLUMPS TO LOSS IN TOUGH MARKET February 14, 2012 BEAUTY products giant Avon yesterday reported a fourth quarter loss triggered by weakening demand in North America and Europe. The loss of $400,000 (£255,000) compared with profits of $229.5m in the final three months of 2010. Quarterly revenue slipped four per cent to $3.04bn despite promotional activity from Hollywood’s Reese Witherspoon (above). Picture: GETTY
Music player resurrects Myspace February 14, 2012 One million web surfers have joined Myspace in the last month as the social site’s new music player generates a daily sign-up rate of 40,000. Discarded by Rupert Murdoch last June, Myspace now offers unlimited on-demand access to 42m songs, compared to Spotify’s 15m. Its success is partly thanks to connected apps with Facebook and [...]
Pennon hit by waste business February 14, 2012 Water and waste company Pennon said yesterday that it expects to report a slightly lower full-year profit at its waste management unit, hurt by a sustained drop in prices. Viridor, which provides recycling and waste collection services, typically brings in a third of total group profit. “Viridor has experienced a reduction in recyclate prices over [...]
Zipcar forecasts disappoint February 14, 2012 Zipcar forecast disappointing first-quarter results yesterday, as its European market faces slower growth, sending the US car-sharing service’s shares down more than 16 per cent. The company expects first-quarter net loss of $4m to $5m on revenue of $58m to $60m. Zipcar posted fourth-quarter revenues up 21 per cent to $62.9m, short of forecasts.
Brammer profits jump 41pc February 14, 2012 British industrial services group Brammer yesterday posted a 41 per cent jump in full-year pre-tax profit on strong demand, and said it planned to increase its final dividend. Brammer said 2011 pre-tax profit was £29m, up from £20.6m, a year ago. Revenue rose 22 per cent to £571.5m.
