Wetherspoons ups target to open new pubs November 6, 2013 PUB OPERATOR JD Wetherspoons yesterday raised its target for new pub openings in 2014 and said like-for-like sales were up 3.7 per cent during the first quarter to 27 October. Wetherspoons plans to open between 40 and 50 new pubs this year, it said in an interim management statement yesterday, up from its earlier target of [...]
Analyst Views: What do you make of JD Wetherspoon’s interim management statement? November 6, 2013 JAMES HOLLINS | INVESTEC“Wetherspoon has delivered strong like-for-like performance and increased its targeted estate expansion for 2014. Wetherspoon, despite a rise in our maintenance capex estimates to reflect a facilities upgrade programme, is forecast to drive a free cash flow yield of 8.7 per cent this year. NICK BATRAM | PEEL HUNT“Top-line growth was better [...]
Demand for temporary workers gives a lift to Adecco’s income November 6, 2013 ADECCO, the world’s biggest staffing agency, posted a 61 per cent jump in net profit in the third quarter yesterday and flagged rising demand for temporary workers as companies look for flexibility to weather a volatile European economic recovery. The staffing sector is generally seen as a barometer of economic health because companies tend to [...]
DCC half-year profit up 38pc November 6, 2013 FTSE 250-listed services company DCC yesterday posted a 38 per cent increase in half-year operating profit, boosted by strongly improved trading across its three largest units. The Irish firm, which operates across the energy, communications, healthcare, environment and food & beverage divisions, has increased its dividend by 10 per cent. DCC Energy, the group’s largest [...]
Centamin earnings fall in third quarter as lower gold price hits November 6, 2013 EGYPT-FOCUSED gold miner Centamin’s earnings fell 32 per cent to $43.1m (£26.8m) in the third quarter, roughly in line with analysts’ expectations, due to a fall in output and the lower gold price. The firm was also hit by a £11.9m writedown after Centamin reduced its stake in Ethiopia-focused miner Nyota Minerals once again, bringing [...]
AngloGold production rises 12pc November 6, 2013 Global gold producer AngloGold Ashanti yesterday said earnings had jumped in the third quarter, following a 12 per cent rise in output and a 10 per cent reduction in costs compared to the previous quarter. Earnings rose to $110m (£68m) from $9m. “We’ve delivered a decisive response to the lower gold price with all operating [...]
Carbon credit scam crackdown November 6, 2013 19 firms selling carbon credits have been shut down in the past 15 months for ripping off investors, UK regulators said yesterday. The Insolvency Service said more than 1,500 investors had been defrauded out of £24m, and together with the Financial Conduct Authority, warned investors against buying the products. Firms selling the credits, which are [...]
Vimpelcom’s earnings plunge November 6, 2013 Vimpelcom, Russia’s third biggest mobile operator, said yesterday competition and tougher regulations hit sales growth in the third quarter. Regulatory pressures in Africa and Asia as well as reduced fees that its Italian business Wind can charge rivals to use its network contributed to a one per cent fall in third-quarter revenue to $5.7bn. The [...]
City Moves for 07 November 2013 | Who’s switching jobs November 6, 2013 Quantum Advisory The actuarial and benefits consultancy firm has announced the hire of Darren Wateridge as senior consultant and actuary. He has over 15 years’ experience in the pensions market. He was most recently at Aegon, where he worked in its corporate solutions division. CMS Cameron McKenna The legal and tax services company has recruited Keith [...]
US bus division helps FirstGroup to narrow losses November 6, 2013 AMERICAN buses have fuelled growth at FirstGroup while it works on overhauling its businesses in Britain, the FTSE 250 travel group said yesterday. FirstGroup narrowed its pre-tax losses to £8m in the six months to the end of September, an improvement on the £20.6m loss it posted a year ago. Revenues were up 1.6 per [...]
