Bottom Line: This is just the start of the dreaded slowdown October 1, 2013 IT DOESN’T seem to matter what Unilever is selling. From Dove deodorant to PG Tips and Pot Noodles, the group’s emerging markets customers aren’t buying. Except that’s not strictly true. Monday’s profits warning from the consumer goods group didn’t say that sales are set to have fallen in the third quarter, just that growth will [...]
Settlement may end Google’s EU antitrust case October 1, 2013 GOOGLE’S largest EU antitrust case moved closer to an end yesterday as the EU competition chief said progress had been made towards a settlement that would address concerns about the search engine giant offering favourable results to its own services. “With the significant improvements on the table, I think we have the possibility to work [...]
American tobacco firm buys into growing UK e-cigarette market October 1, 2013 LORILLARD, the third largest American cigarette manufacturer, yesterday took a stake in the UK’s burgeoning e-cigarette market by snapping up manufacturer Skycig in a deal worth up to £60m. “We chose to move forward with Lorillard for the exceptional resources and expertise which the company can provide to enable Skycig to further both our product [...]
Wolseley steps up hunt for deals as it returns £300m to investors October 1, 2013 PLUMBERS’ merchant Wolseley confirmed plans yesterday to return £300m to shareholders after posting a strong rise in profits. Chief financial officer John Martin said that a lack of attractive acquisition opportunities last year meant that it will return £300m to investors in a special dividend. He said it will continue to seek out bolt-on acquisitions [...]
Analyst Views: Have Wolseley’s results altered your outlook for the year ahead? October 1, 2013 JONATHAN JACKSON KILLIK & COWolseley’s results were very reassuring…. With more than 70 per cent of profits generated in the US, the company provides a good way of playing the ongoing recovery in housing and construction markets, while self-help in Europe provides a cushion while investors wait for the economy to recover. CHARLIE CAMPBELL LIBERUM [...]
ITE revenue to grow to £191m October 1, 2013 BRITISH-based conference organiser ITE Group saw its share price jump yesterday after it said results would meet revenue expectations of £191m, showing 11 per cent growth for the year, when the company publishes annual results on 3 December. During the fourth quarter its revenues were up four per cent, at £26m, on the same period [...]
Jaeger halves annual losses October 1, 2013 TROUBLED fashion chain Jaeger yesterday said it had stopped the rot after stemming losses last year and putting in place new management. The company, which was acquired by private equity group Better Capital last year, said post-tax losses for the year ending February were £13.1m, down from £35.5m. Overall turnover fell to £70.7m from £85.5m [...]
Grand Theft Auto V hit by online problems October 1, 2013 OWNERS of Rockstar’s new Grand Theft Auto V game faced problems yesterday as the the game’s newly-launched online world was plagued with technical problems. Rockstar warned last week that players of the game, which racked up sales of more than $1bn during its first three days, could face problems as millions raced to join its [...]
Crumbs! Cameron fails to use his loaf October 1, 2013 DAVID Cameron may have been pilloried yesterday for failing LBC’s everyman test and admitting he didn’t know the price of sliced bread, but after using our loaves and doing a little investigative work, The Capitalist has a crumb of sympathy for the Prime Minister. Whether one prefers artisan sourdough or tiger bread, the selection of [...]
Poundland eyes 2014 flotation as sales surge October 1, 2013 POUNDLAND is eyeing a possible initial public offering (IPO) in the first half of next year as the private equity owners of the discount retailer look to cash in on its surging sales. The chain, which has benefitted from thrifty shoppers seeking value during the economic downturn, posted a 15 per rise in sales to [...]
