Centamin sees 18pc rise in output January 30, 2014 FTSE 250 miner Centamin yesterday forecast production from the Sukari gold mine in 2014 of 420,000 ounces at a cost of $700 (£425) per ounce, an 18 per cent increase on 2013 output of 356,943 ounces. “Given its recent tendency to under-promise an over-deliver, it must be confident of producing a significant uplift in underground [...]
Johnson Matthey chief steps down January 30, 2014 The chief executive of chemicals firm Johnson Matthey is to step down after 10 years at the helm, the company said yesterday. Neil Carson will retire on 5 June but remain on the board until the end of September. He will be replaced by Robert MacLeod, the current group finance director. “The business is in [...]
M&B reports its biggest week of sales over Xmas January 30, 2014 CHRISTMAS saw pub group Mitchells & Butlers enjoy its biggest ever sales week, boosting the group’s trading for the year to date. The company, whose outlets include Harvester, Toby Carvery and All Bar One, yesterday said sales at pubs open over a year or more were up two per cent on a year ago for [...]
H&M profits miss forecasts after splashing out on its new brands January 30, 2014 HENNES & Mauritz (H&M) yesterday blamed “substantial long-term investments” in new brands, technology and its online business for lower than expected profits. The Swedish retailer said pre-tax profit rose 11 per cent to 7.3bn Swedish crowns in the year to 30 November, missing analyst forecasts of around 7.6bn crowns. Gross margin also disappointed, falling to [...]
Cranswick stock sizzles as Britons put more sausages in frying pan January 30, 2014 SHARES in pork specialist Cranswick rose more than four per cent yesterday after strong third quarter results prompted analysts to hike their full-year profit forecasts. The FTSE 250 firm, which supplies supermarkets including Sainsbury’s with upmarket sausages and cooked meats, said underlying sales in the three months to 31 December rose by 13 per cent, [...]
Poker pushes 888’s revenue up January 30, 2014 888 Holdings reported quarterly revenue hit an all time high of $107m (£64.8m), an increase of ten per cent year-on-year during the group’s fourth quarter to 31 December. On current trading, 888 said that daily average revenue for the first 27 days of the first quarter had been around three per cent higher than last [...]
Euromoney cautious on pound January 30, 2014 Euromoney Institutional Investor, the publisher of financial magazines, journals and data products, said the strength of the sterling against the dollar is expected to have a significant impact on trading in the second quarter. The company generates two-thirds of its revenue in US dollars. The pound has risen more than nine per cent against the [...]
Toyota warns of potential recall January 30, 2014 Toyota yesterday alerted US safety officials about seat material in several vehicles that does not meet fire retardation standards, which could result in a recall depending on what the safety agency decides. The Japanese carmaker said it had stopped selling several models in North America equipped with seat heaters made since August 2012 after being [...]
City Moves for 31 January 2014 | Who’s switching jobs January 30, 2014 Powell Gilbert The law firm has announced the appointment of Tess Waldron as an associate. She was most recently at Latham & Watkins. Before becoming a solicitor, Waldron qualified as a doctor and spent three years working in hospital medicine. Saxo Bank The trading and investment specialist has hired Tony Bainbridge as head of group human [...]
Best of the Brokers for 31 January 2014 January 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com CARPHONE WAREHOUSE Barclays keeps its “equalweight” rating and raises its target from 270p to 290p following the firm’s plan to open stores in collaboration with Samsung. The broker hopes Carphone will do further deals in the same vein across Europe. PUMA UBS has [...]
