National Express sales lifted by UK holidays October 31, 2013 TRANSPORT group National Express said yesterday that trading improved in the third quarter thanks to a busy August bank holiday period, and it is on target to meet its full-year expectations after a tough first half. The bus and train operator said group revenue rose five per cent in the quarter, with its UK coach [...]
Hovis owner blames heat for slowdown October 31, 2013 SHARES in Premier Food plunged 16 per cent yesterday after the owner of Hovis bread and Mr Kipling cakes blamed the summer heatwave for the sharp slowdown in growth. Underlying sales fell by 3.2 per cent to £283m in the three months to 30 September compared with a 0.9 per cent fall in the first [...]
Weak currencies slam chemicals maker Croda October 31, 2013 SPECIALITY chemicals maker Croda reported a marginal rise in underlying sales in the third quarter, hurt by subdued markets and weak currencies. The company, which makes chemicals used in personal care, crop care and home care products, said underlying sales rose 0.8 per cent in the period since 1 July. Croda said fourth-quarter profit was [...]
Glencore posts 23pc increase in copper output October 31, 2013 GLENCORE Xstrata said yesterday that third-quarter copper production had soared by 23 per cent and that profits for its trading arm are broadly in line with expectations. The mining and trading group, which completed a long-awaited merger earlier this year, said that there had been strong growth at the Collahuasi mine, which rose 43 per [...]
Share price wobbles as mining volumes tumble at Antofagasta October 31, 2013 ANTOFAGASTA’S share price fell four per cent to 861.2p yesterday on mixed results from the mining company. Copper volumes fell 3.4 per cent during the third quarter to 30 September in line with expectations, with Antofagasta producing 174,200 tonnes during the quarter. “We remain positive on Antofagasta as a quality copper play with a healthy [...]
Avocet to buy out of hedge October 31, 2013 AFRICA-FOCUSED Avocet Mining said yesterday it is set to buy back all its forward sold production, a hedge that has caused problems for the company since it cut a reserves estimate at its gold mine in Burkina Faso earlier this year. The miner, which inherited the hedging agreement with Macquarie from a takeover deal in [...]
Bumi is close to separating October 31, 2013 BELEAGUERED FTSE 250 miner Bumi yesterday said it is finalising its separation from its co-founder the Bakrie Group, with a circular to be sent to shareholders next week. A meeting to approve the separation is expected to take place in early December.
BG Group shares rise on smaller than expected earnings decline October 31, 2013 FTSE 100-listed oil and gas producer BG Group’s shares rose yesterday after it said earnings fell less than analysts expected in the third quarter. The four per cent decline was due to BG’s decision to cut production in the US, where gas prices have been low and after it sold fewer liquefied natural gas (LNG) [...]
Total’s income plunges in third quarter due to refining margins October 31, 2013 FRENCH oil major Total yesterday posted a 19 per cent decline in net income for the third quarter, hit by narrow refining margins in Europe and a larger exploration expenditure. Income fell to €2.7bn (£2.3bn), with a $400m rise in its exploration bill compared to the same period a year ago weighing on profits. “The [...]
Sony slashes profit outlook on bad TV sales October 31, 2013 SONY cut its full-year profit targets yesterday after slipping to a quarterly net loss as its recovering TV operation relapsed into the red. The Japanese electronics-maker’s worse-than-expected performance, a setback after years of striving to return to its former glories, also featured weak sales of video cameras and a steep slump in personal computers in the [...]
