Prezzo revenue rises as its new outlets pay off September 8, 2010 PIZZA restaurant chain Prezzo yesterday reported a 21 per cent rise in first-half adjusted pre-tax profit, helped by new restaurant launches and improved margins, and said it was confident for the rest of the year. The company, which opened seven new restaurants during the first half, said current trading was in line with expectations. January [...]
Thorntons is hit by a fresh drop in profit September 8, 2010 CHOCOLATE retailer Thorntons yesterday posted a 2.4 per cent fall in half-year profit as it prepared to name a replacement for outgoing chief executive Mike Davies. Chairman John von Spreckelsen said talks with a prospective new chief were well advanced but he reamained tight-lipped about who the candidate is. Acting chief executive Mark Robson will [...]
DSG revertsto Dixons in name swap September 8, 2010 DSG International will revert to being called Dixons Retail after shareholders yesterday approved the plans at the electrical group’s AGM. The rebranding to DSG was aimed at being more appealing to an international market but the move has fallen flat. The company, which owns Curry’s and PC World, has been forced to restructure its overseas [...]
CITY MOVES | WHO’S SWITCHING JOBS September 8, 2010 Jefferies The investment banking group has poached Dominic Lester from rival UBS to head up its European technology and telecoms investment banking team. Lester has been at UBS for almost 20 years, latterly as head of technology investment banking for the EMEA region. He is joined at Jefferies by new senior vice president Daniel Aharoni [...]
Barratt beats forecasts but warns of dip September 8, 2010 HOUSEBUILDER Barratt Developments said concerns about the economy and the lack of mortgage finance meant the market for new housing was still challenging as it reported better-than-expected full-year profits. “It’s early days in the autumn-selling season but so far private reservation rates are in line with expectations and prices are holding up,” chief executive Mark [...]
Barratt September 8, 2010 WHETHER you deem Barratt a good buy depends on whether you are a bull or a bear on the housing market next year. For the bulls, there are plenty of positives: net debt has fallen £910m to £367m since last year, forward sales are up 22 per cent to £847m and crucially operating margin has [...]
Halifax shocks bears with rise in house prices September 8, 2010 HOUSE prices rose for the second month running in August, mortgage lender Halifax said yesterday, confounding expectations for a fall though it still expected house prices to stagnate overall this year. House prices rose 0.2 per cent in August, Halifax said, which, coming after a 0.7 per cent rise in July, had helped to reverse [...]
PROPERTY FIRM OF THE YEAR | September 8, 2010 THE City’s skyline is changing. Skyscrapers are springing up – okay, more slowly than before, but they are coming. Added to that the commitment to opening retail space and the whole character of the Square Mile is changing. At a time when it might have been easier to abandon their projects, they have shown confidence [...]
RETAIL BROKER OF THE YEAR | THE SHORTLIST September 8, 2010 WITHOUT brokers like the ones on our list, money would sit in bank accounts gathering dust. They are the soul of the UK’s investment strategy. At the moment, when people are looking for stability, they are more vital than ever. Innovative, forward-looking and offering great personal service, these five are stars. Don’t miss the City [...]
Virgin ends strike threat September 8, 2010 VIRGIN Atlantic averted the threat of the first strike in its 26-year history yesterday, after it reached an agreement with pilot’s union Balpa over the time off its members take. Under the deal Virgin pilots remain entitled to “at least 120 days off” a year, equivalent to an office worker’s weekends and bank holidays. Virgin’s [...]
