Chipotle’s profits now a sizzling $140m July 22, 2015 Chipotle Mexican Grill has said its quarterly profit beat estimates, despite reporting lower-than-expected sales at its established restaurants. Its net income rose to $140.2m (£90m) from $110.3m a year earlier. Revenue rose 14.1 per cent to $1.2bn.
Sage develops a positive story as revenues rise July 22, 2015 SOFTWARE giant Sage saw its shares rise yesterday after it issued a trading update, despite the FTSE 100 falling to a one-week low. The Newcastle-headquartered firm reported an increase in revenue of 6.6 per cent for the first nine months of the year, with growth of 7.5 per cent in the third quarter. The group [...]
Bosses who put on a brave face: Martin Wheatley grimaces through FCA annual meeting July 22, 2015 “The AGM is my favourite time of year” – said no one ever, least of all outgoing Financial Conduct Authority (FCA) chief Martin Wheatley yesterday, who had to sit through the FCA’s annual meeting with a face like a smacked bottom. Wheatley, who has been booted out of the job by George Osborne, now joins [...]
DFS Group sets sights on Europe as its top team prepare for record year July 22, 2015 Upholstered furniture giants DFS Group said it is looking to expand to Europe and beyond after a strong year of sales puts the group on target for a record-breaking year. DFS Group, the sofa sellers that bought rival Dwell in 2013, said it expects this year to be record-breaking for the company, but bosses added [...]
EDF told to repay £1bn tax break to France July 22, 2015 French electricity giant EDF was yesterday ordered by the EU to repay the French state almost €1.4bn (£1bn) in back taxes, in a case dating from 1997. And in a thinly veiled criticism of the French government the European Commission said Electricite de France had been given “tax breaks incompatible with EU rules on state [...]
New punters place bets on growing 32Red July 22, 2015 ONLINE gambling firm 32Red yesterday reported its net gaming revenue rose 22 per cent in the first half, as the group increased its active and new customer numbers. 32Red said its net gaming revenue for the six months to the end of June rose to £18.6m from £15.2m a year earlier. The report comes on [...]
Qinetiq reports a solid first quarter result July 22, 2015 QINETIQ, the former research arm of the Ministry of Defence, said yesterday that first quarter results were in line with its expectations and reaffirmed its previous guidance for performance in the full-year to 31 March 2016. This is welcome news for the FTSE 250-listed defence firm, which lost its chief executive Leo Quinn to infrastructure [...]
Gottex dusts itself down after rocky patch to signal fresh start July 22, 2015 Gottex, the hedge fund company headed by investor Arpad “Arki” Busson, benefitted from strong performance in Asian funds last quarter, helping overall assets under management tick up. Busson, who once dated Hollywood star Uma Thurman, took over as executive chairman of last month following a turbulent period for the company, which incurred a loss last year. [...]
Houlihan Lokey buys boutique firm McQueen July 22, 2015 BOUTIQUE investment bank Houlihan Lokey has taken over London-based corporate advisory McQueen in a deal giving it a bigger presence in North America and London. The deal, terms of which were not disclosed, will see McQueen’s 45 staff in London, New York, Chicago, Dallas, and San Francisco merge into Houlihan Lokey’s consumer team. McQueen is [...]
Make Marston’s a large one as food and drink sales progress July 22, 2015 Brewers and pub group Marston’s yesterday announced it had made “profitable progress” in line with expectations for the 41-week period to 18 July. “In Destination and Premium [brand units], like-for-like sales for the 41-week period were 1.7 per cent ahead of last year, including like-for-like food sales growth of 1.6 per cent and like-for-like wet sales [...]
