Nando’s to buy burger chain for £30m September 17, 2010 The UK arm of chicken restaurant chain Nando’s has confirmed that it has agreed a £30m deal to buy a rival firm. It plans to take over Clapham House Group, the company behind Gourmet Burger Kitchen (GBK) and The Real Greek. Nando’s said that Clapham’s brands were struggling in the volatile market and needed its [...]
Retail sales slip as spending cuts loom September 16, 2010 Retail sales volumes fell last month for the first time since January, in a sign that consumer demand may be slipping ahead of planned government spending cuts, official data showed. The Office for National Statistics said sales volumes fell 0.5 per cent last month, and revised July’s sales growth down to 0.8 per cent from [...]
Kier forges ahead with healthy order book September 16, 2010 Construction firm Kier said it had entered the new financial year with healthy order books after posting full-year pre-tax profit up 11 per cent. The firm said it had a strong order book for its construction and support services units at £4.2bn, and a record net cash position of £175.2m. It posted full-year pre-tax profit [...]
Kesa lifted by World Cup TV sales September 16, 2010 Electricals retailer Kesa beat forecasts for first-quarter sales, with trade boosted by robust demand for TVs in the run-up to the World Cup and more sales over the internet. “After a positive first quarter we still anticipate that our markets will remain challenging for the remainder of this financial year,” the firm said. Kesa which [...]
John Lewis sees £111m profit but warns over headwinds September 16, 2010 John Lewis said trading conditions would likely get tougher as tax hikes and public spending cuts hit shoppers, as it reported a 28 per cent rise in first-half profit. The group said its strong first-half performance gave it confidence that both its department stores grocery chain Waitrose would cope well. “Despite the economic headwinds, and [...]
Kingfisher beats profit forecast with cost-cutting September 16, 2010 Kingfisher, Europe’s biggest home improvement retailer, beat first-half profit forecasts, helped by cost-cutting and business improvements that it said would help it to cope with a tough consumer outlook. The group, which runs market leader B&Q in Britain and the Castorama and Brico Depot chains in France, said it made a profit before tax and [...]
Tesco among companies circling for Carrefour’s Asian assets September 15, 2010 France’s Casino and Britain’s Tesco are among the bidders still in the running to buy Carrefour’s stores in Southeast Asia, Reuters sources have said. Carrefour, Europe’s No.1 retailer, has set a 5 November deadline for second round bids, two other sources said. The $1bn (£644m) auction has attracted a number of potential bidders. Carrefour wants [...]
Unemployment drops to 2.47m September 15, 2010 Unemployment fell by 8,000 to 2.47m in the three months to July, figures from the Office for National Statistics have shown. The overall UK unemployment rate remained at 7.8 per cent. However, the figures also showed the claimant count – those out of work and seeking unemployment benefit – rose by 2,300 in August to [...]
Cattles restructuring talks break down September 15, 2010 Stricken door-to-door lender Cattles said talks with its creditors over a restructuring had broken down and it would now work to find a further solution. Cattles had been in talks for some time with its key financial creditors about a restructuring of its liabilities and it had said shareholders could receive 1 pence per share [...]
Galliford Try bounces back September 15, 2010 UK housebuilder and construction firm Galliford Try posted a 6.5 per cent rise in full-year adjusted pre-tax profit, aided by growth in its housebuilding division, and said it was on track for expanding the unit. The firm, whose origins can be traced back to 1908 when WS Try formed a construction business that carried out [...]
