Analyst Views: Have Unilever’s third quarter figures altered your outlook? October 24, 2013 MARTIN DEBOO INVESTEC “We read third quarter sales as in line with expectations, no great surprise given the 30 September warning. Despite the downbeat tone, Unilever are sticking to full-year guidance and their expectation of a better fourth quarter. We keep faith, but continue to urge more radical action on foods disposals. KEITH BOWMAN HARGREAVES [...]
Pernod warns of slower profit growth as spirits dip in China October 24, 2013 PERNOD Ricard yesterday warned profit growth would slow in its current financial year after weakness in Chinese demand for its Martell cognac and Ballantine’s whisky hit sales in the first quarter. The world’s second-largest spirits group by sales – after Diageo – said it expected demand in China to start improving only from the second half [...]
Kering’s Gucci posts weakest revenue growth for four years October 24, 2013 GUCCI, one of the world’s biggest luxury brands in terms of sales, yesterday posted its weakest growth in four years with a 0.6 per cent rise in like-for-like revenue in the third quarter. Gucci, which accounts for more than half of the valuation of parent Kering, has been hit like arch-rival LVMH’s Louis Vuitton by [...]
Primark and Loblaw pay out to factory victims in Bangladesh October 24, 2013 BRITISH clothes retailer Primark and Canadian grocer Loblaw laid out plans yesterday to pay more compensation for the collapse of a Bangladeshi factory that killed almost 1,130 people, as protesters demanded that other brands follow suit. The disaster on 24 April has galvanised most of the clothing industry’s big names to try to improve safety [...]
House of Fraser opens overseas October 24, 2013 House of Fraser announced yesterday that it will this weekend open its first department store outside of Britain in the Middle East. The privately-owned group, which has 61 stores in the UK, said it will launch its first international flagship in the World Trade Centre Mall in Abu Dhabi. The 100,000 square foot store will [...]
BHP bullish on commodity demand October 24, 2013 BHP Billiton told shareholders yesterday it expects global commodity demand to grow by up to 75 per cent over the next 15 years, remaining bullish on the Chinese market despite recent concerns of a slowdown in growth. At its AGM, BHP also said it would stick to a “wait and see” approach in its expansion [...]
Saint-Gobain sticks to targets October 24, 2013 France’s Saint-Gobain stuck to its full-year targets yesterday, saying robust growth in emerging markets, an upturn in the US construction market and stabilisation in Europe would help it offset the impact of volatile currencies. Europe’s biggest supplier of building materials reported a 1.4 per cent drop in third-quarter sales to €10.8bn, in line with analysts’ [...]
Stobart profits get boost from Autologic buy October 24, 2013 BRITISH haulier Stobart Group’s first-half revenue from continuing operations jumped 33 per cent, helped by its acquisition of Autologic Holdings in mid 2012. The company, whose Eddie Stobart trucks deliver goods to retailers like Tesco, reported an underlying pre-tax profit of £13.8m in the six months ended 31 August, up five per cent from a [...]
Luxury demand helps Inchcape drive sales October 24, 2013 MULTINATIONAL car dealer Inchcape has reported a seven per cent rise in third quarter sales on the back of robust demand for premium and luxury vehicles. The firm, which sells and distributes cars for manufacturers such as Toyota, Mercedes-Benz and BMW in 26 countries, yesterday said revenues rose to £1.63bn in the three months to [...]
Daimler beats expectations as its cuts pay off October 24, 2013 GERMAN automotive group Daimler forecast higher fourth-quarter profit after a rejuvenated model range and cost cuts in the core luxury car business helped it to post better than expected results yesterday. Third-quarter group earnings before interest and tax (ebit) excluding one-off items rose 15 per cent to €2.23bn (£1.9bn), while the Mercedes luxury car business [...]
