Easyjet lifted by cheaper fuel January 27, 2015 BUDGET airline Easyjet grew its revenue to £931m in the final quarter of 2014 and said yesterday that winter season losses will be lower than expected due to cheaper fuel. Sales rose by £34m in the quarter ended 31 December, compared with the same period of 2013. Passenger numbers were also up in the first [...]
Ericsson hit by US slowdown January 27, 2015 TELECOMS technology group Ericsson said it expects business in North America to remain slow as operators there rein in spending, as it reported fourth-quarter sales below expectations yesterday. Ericsson has faced a slowdown in its formerly fast-growing North American and North Asian market, where construction on the latest generation of 4G mobile networks has largely [...]
National Grid to limit publication of formal interim management statements January 27, 2015 The National Grid is set to axe its publication of formal interim management statements with immediate effect, it said yesterday. The decision follows the removal of the requirement for companies to publish them, announced by the Financial Conduct Authority (FCA) in November 2014. The company board said the firm’s structure and investor relations made the publishing [...]
Financial policy committee gets new member January 27, 2015 THE BANK of England has appointed Alex Brazier to its financial policy committee (FPC). Brazier was previously private secretary to governor Mark Carney. He first joined the bank in 2001 as an economist before working his way up the ranks. The FPC’s main task is to oversee system-wide risk in the financial sector. He will [...]
Credit card redress to go ahead January 27, 2015 TWO MILLION credit card borrowers could be owed compensation for mis-sold insurance products, the Financial Conduct Authority (FCA) said yesterday. The announcement opens the way for a new wave of claims against 11 high street banks. The Affinion International security products were sold through the banks, and typically cost £25 per year, and the FCA is concerned [...]
Cash point firm Link fights claim UK is becoming a cashless state January 27, 2015 BRITAIN has more cash points than ever before, ATM-provider Link said today, boasting that the total is up 58 per cent in the last 12 years. There are now more than 69,000 cash points across the country, the firm said, up from 43,600 in 2003. Link argues that contrary to claims the UK is fast [...]
Britvic share price rebounds despite falling revenues January 27, 2015 Investors shrugged off last quarter’s declining revenues at Britvic yesterday as the company reported a 0.4 per cent drop in group revenue to £304m compared to a year earlier. Despite the decline, shares rebounded by 6.58 per cent as the company said it would still hit profit targets. Its stock has endured a difficult [...]
Nigerian instability weighs on sales at soap-maker PZ Cussons January 27, 2015 REVENUE at PZ Cussons tumbled 10.4 per cent to £387m in the six months to 30 November 2014, compared to the year before. Falling revenue had an adverse effect on pre-tax profits which were down 7.9 per cent in the same period to £40m. Revenues were particularly hit by the firm’s exposure to Nigeria which [...]
Christmas cheer sees pub operator Marston’s on track for future expansion January 27, 2015 Pub operator Marston’s yesterday reported moderate growth in like-for-like sales during the final quarter ending 24 January, up two per cent on the year. Particular emphasis was placed on the strong sales growth of 4.8 per cent during the two week Christmas period ending 4 January and a 12.5 per cent increase in Christmas day [...]
Carpetright puts the past behind it as UK sales grow January 27, 2015 Carpetright appeared to put a dismal four years behind it after yesterday’s interim results showed an increase of like-for-like sales in the UK of 7.5 per cent during the quarter ending 24 January. Sales growth in the UK was partly offset by losses in Europe, which despite seeing like-for-like sales increase by 1.7 per cent [...]
