Soap sales drive profits rise at Cussons January 25, 2010 BRITISH soap and shampoo maker PZ Cussons said was it poised to make new acquisitions after a 21 per cent rise in its first-half profit. The maker of Imperial Leather, Carex soap and Original Source products ended the six months to 30 November with a pre tax profit of £44.7m – slightly above market expectations. [...]
Ferrero: We will not bid for Cadbury January 24, 2010 ITLALIAN chocolatier Ferrero has ruled out making a rival bid for Cadbury leaving clear Kraft Foods to complete its £11.7bn proposed takeover of the British confectioner. Hershey has already said it had no intention of bidding for Cadbury while Nestle has also confirmed that it does not intend to make a bid. Ferrero said in [...]
Ericsson profits dive by 92 per cent January 24, 2010 PROFITS at Swedish telecoms giant Ericsson plunged 92 per cent in the fourth quarter triggering a cull of 1,500 staff. The company has been hit by an ongoing dip in orders and the costs of its restructuring. Its net profit was 314m kronas (£11.3bn) from October to December compared with 3.89bn kronas during the same [...]
Hornby sales back in the fast lane January 24, 2010 THE popularity of Scalextric sets helped to put toymaker Hornby’s sales into the fast lane over Christmas. Hornby said the racing game had received a boost after current Formula One grand prix teams were introduced. Toys from Disney/Pixar’s Cars has also helped to fuel the sales rise. The company said demand for its brands from [...]
Philips in profit boost January 24, 2010 GLOBAL electronics firm Philips has reported a net profit of €251m (£220m) for the last three months of 2009. The profit reverses a loss of €1.2bn in the same period a year ago as the recession took its toll on the Dutch firm. The company said its profits were higher at all divisions, despite sales [...]
Philips profits boosted by TV sales January 24, 2010 GLOBAL electronics firm Philips has reported a net profit of €251m (£220m) for the last three months of 2009. The profit reverses a loss of €1.2bn in the same period a year ago as the recession took its toll on the Dutch firm. The company said its profits were higher at all divisions, despite sales [...]
Retail sales figures “disappointing” January 22, 2010 RETAIL sales volumes rose by much less than expected in December as a large rise in prices deterred shoppers from splashing out over Christmas, official figures have shown. The Office for National Statistics said the figure rose just 0.3 percent last month, less than the 1.1 percent analysts had expected and the weakest for the [...]
Car sales plunge despite scrappage scheme January 21, 2010 CAR production plunged last year despite a late surge fuelled by the Government’s scrappage scheme. Many companies cut back on manufacturing early in the year as recession-hit Brits cut back. Honda was one of the companies badly hit – reducing production at its plant in Swindon, Wiltshire, for four months from February. The introduction of [...]
Tube strike over Jubilee line pay row January 21, 2010 LONDON Underground maintenance workers on the Jubilee Line are to stage a series of 24-hour walkouts in a row over pay. Members of the Rail Maritime and Transport union (RMT) employed by Alstom on the Jubilee line will walk out from 7.29pm next Wednesday. They will also strike each Sunday evening at the same time [...]
Rusal raises $2.2bn with Hong Kong listing January 21, 2010 RUSSIAN aluminium giant Rusal has sold $2.2bn (£1.36bn) of shares in a public listing in Hong Kong. Rusal sold 1.61bn shares at 10.80 Hong Kong dollars (86 pence) each. Shares in the company will start trading on 27 January. Rusal, which is the first Russian company to list in Hong Kong, is controlled by the [...]