Brewers report disappointing first quarters May 7, 2014 CARLSBERG and Anheuser-Busch InBev both reported disappointing results yesterday as Carlsberg cut its earnings forecast on the back of political tensions in eastern Europe while AB InBev reported a 24 per cent drop in net profit due to increased marketing spend on the World Cup. Carlsberg, the maker of Tuborg and Kronenbourg 1664, is the [...]
Experian warns of World Cup dip May 7, 2014 EXPERIAN, the credit-checking and data group, warned yesterday that the World Cup is likely to dent its trading in Brazil over the summer, taking the shine off a four per cent rise in annual earnings to $1.2bn (£709m) and sending the FTSE 100 firm’s shares down 6.5 per cent. The company posted a 2.3 per [...]
Insurer Esure meets its forecasts despite extra £3m weather costs May 7, 2014 INSURER Esure broadly met analyst expectations yesterday, revealing first quarter results that show a 9.5 per cent rise in in-force policies year on year, despite flat gross written premium numbers overall. Gross written premiums totalled £123.5m compared to £124.2m in the first quarter of 2013, with both motor and home sales down 0.5 per cent [...]
G4S emerging markets unit boosts growth May 7, 2014 OUTSOURCING firm G4S showed it has begun to rise from the ashes of last year’s scandals yesterday, posting strong revenue growth in emerging markets. The FTSE 100 company, which agreed to repay £108.9m to the UK government in March after overcharging on a criminal-tagging contract, said revenues had grown by 4.8 per cent in the [...]
BAE Systems chief: We know how much US cuts will hurt us May 7, 2014 DEFENCE giant BAE Systems yesterday said its outlook for the year remains unchanged from February, when it forecast an earnings drop of up to 10 per cent due to US spending cuts. “In the US, the announced defence budget, while not yet finally agreed in detail, indicates spending reductions much as we had anticipated and points [...]
Meggitt chair to step down May 7, 2014 THE CHAIRMAN of Meggitt yesterday said he plans to retire after nearly 10 years in the role, as the engineering giant said trading this year so far was in line with expectations. Sir Colin Terry told the FTSE 100 firm’s annual shareholder meeting that he would step down after a transitional period once a successor [...]
Costain orders strike a record May 7, 2014 ENGINEERING company Costain yesterday said it is trading in line with expectations, while its forward order book has increased to a new record of £3.2bn. The London-listed firm has won contracts with Network Rail, Crossrail and National Grid, securing over £900m of revenue for 2014 so far. Support services firm Carillion also said it was [...]
Foster Wheeler profit misses expectations May 7, 2014 US ENGINEERING firm Foster Wheeler yesterday posted a rise in first-quarter profit, but missed market forecasts. The Nasdaq-listed company, which is being taken over by its UK rival Amec in a $3.3bn (£1.95bn) deal announced earlier this year, said separately that its shareholders have approved a one-time dividend of $0.40 per share, which will be [...]
US corporate results round up May 7, 2014 US gas price surge gives a lift to Chesapeake Energy Chesapeake Energy, the second largest US producer of natural gas, reported a sharply higher quarterly profit yesterday that topped expectations, helped by a 53 per cent rise in gas prices. Profit in the quarter was $374m, on output 11 per cent higher. Sotheby’s narrows its [...]
Former giant AOL left reeling by income drop May 7, 2014 MEDIA firm AOL was rocked yesterday as its shares dived 20.6 per cent to $34.85, punished by investors after income fell 64 per cent to $9.3m (£5.5m) in the first quarter. The media and entertainment company said revenue from ads bought and sold on its electronic exchange soared 55 per cent to almost $187m, with [...]
