Aviva profit up despite weather claims March 4, 2010 INSURER Aviva reported a three per cent increase in 2009 profit, with cost cutting helping to offset a rise in weather-related claims. The company’s operating profit of £3.48bn was up from £3.37bn the previous year, its annual results showed. Analysts had pencilled in a profit fall to £3.01bn.
Taylor Wimpey upbeat despite losses March 3, 2010 HOUSEBUILDER Taylor Wimpey has suggested that its prospects are improving despite posting sizeable full-year losses for 2009. The FTSE 250 company posted full-year losses of 640.6m, following on from a deficit of £1.97bn the previous year and saw its revenue slip to £2,595m from £3,467m in 2008, but said “improving conditions” had led to a [...]
Virgin buys into medical centres March 3, 2010 VIRGIN has branched into healthcare after buying 75 per cent stake in a group of walk-in medical centres. Richard Branson is using a unit of his company under the title of Virgin Healthcare to buy into the GPCo business of the Assura Group. It is the largest owner of doctor’s surgeries in the UK and [...]
ITV returns to profit and predicts ad recovery March 3, 2010 ITV returned to profit during 2009 and has tipped advertising revenues to rise this year. The broadcaster made a £25m pre-tax profit for the 12 months to December 31, compared with a £2.73bn loss in the previous year. It said it anticipates advertising revenues rising by as much as 7 per cent in the first [...]
Standard Chartered profit tops £3bn March 3, 2010 STANDARD Chartered has reported a 13 per cent jump in profit for 2009. The bank said it would hand bonuses to top managers on the strength of the performance of the company. Its investment banking growth in its core Asian markets offset a jump in bad debts in the Middle East. The profit rose to [...]
Allied Irish Banks in first ever annual loss March 2, 2010 ALLIED Irish Banks posted its first ever full-year net loss, after being hit by a property market crash. The lender, in which the government last year acquired a 25 per cent indirect stake, said it was trying to improve its capital position. It posted a net loss of €2.3bn (£2.1bn) for the 12 months to [...]
Provident see profit slide March 2, 2010 PROVIDENT Financial posted lower-than expected profit in the full year as customers were more cautious in their borrowing habits during the recession. The firm, which specializes in loans to people who usually need to borrow less than £500 and pay it back in weekly installments, posted a 2.4 per cent drop in full-year pretax profit [...]
BBC axes radio stations in spending shake-up March 2, 2010 THE BBC has confirmed plans to axe digital radio stations 6 Music and Asian Network as part of a programming shake-up. Half of the sections on the BBC website are to be axed as part of the overhaul. The budget for US imports will be reduced by 20 per cent, under the measures. BBC Switch [...]
Persimmon back in profit March 2, 2010 HOUSEBUILDER Persimmon swung back into profit last year after writing up the value of its landbank by almost £75m. Pre-tax profits came in at £77.8m compared to a £780m loss in 2008 when lower property valuations took their toll as the sector was ravaged by the recession. The UK’s largest housebuilder completed 8976 homes last [...]
Sports Direct considers bid for Blacks March 2, 2010 SORTS Direct says it is considering a takeover offer for Blacks Leisure. Mike Ashley’s Sports Direct, which has brands including Slazenger and Dunlop, already owns almost 30 per cent of Blacks shares. It said it is “evaluating a possible cash offer for the entire issued and to be issued share capital of Blacks”. The company, [...]
