Lend Lease to build homes at dockyards site August 4, 2014 AUSTRALIAN property and industrials giant Lend Lease is to build 905 new homes in east London after agreeing to buy the former dockyards site in Deptford from City & Provincial Properties. Lend Lease has been ramping up its exposure to London’s housing market and began work last year on its £1.5bn regeneration of Elephant & [...]
Russia tensions kick Adidas to profit warning July 31, 2014 Adidas shares plunged 15 per cent yesterday after the sportswear giant became the latest big European company to warn that the Ukraine crisis was taking a toll on the business. The sportswear giant, which supplies kit to Premier League clubs such as Russian-owned Chelsea FC, warned that it would miss its profit and revenue targets [...]
Everything is awesome at Merlin as the Lego Movie boosts sales July 31, 2014 Theme park owner Merlin Entertainment said The Lego Movie’s runaway success this year helped boost already strong growth at its six Legoland parks and increase visitor numbers. The owner of the London Eye and Madame Tussauds said operating profits rose 10 per cent £71m in the first half of the year to 28 June. Visitor [...]
Countrywide profits jump July 31, 2014 BRITAIN’S largest estate agency Countrywide yesterday hailed its strongest first-half results since just before the crisis in 2007, buoyed by growth in the UK’s housing market. Pre-tax profits rose by 200 per cent to £37m in the six months to 30 June compared with the same time last year after selling its stake in online [...]
That’s the spirit as Diageo chief stands by China July 31, 2014 DIAGEO boss Ivan Menezes said he did not regret its foray into China’s white spirits market after anti-extravagance measures forced the group to write-down the value of its stake in baiju-maker Shui Jing Fang. “Did we make the right decision? Yes we did; it’s the right category to be in and it took seven years [...]
Analyst Views: Has Diageo’s results changed your outlook for this business? July 31, 2014 TREVOR STIRLING | BERNSTEIN RESEARCH Results were broadly in line with our expectations. We believe Diageo offers a balanced mixture of exposure to a resilient US spirits market and high long-term growth in emerging markets, albeit held back by structurally low growth in Western Europe. We rate Diageo “outperform”. WYN ELLIS | NUMIS Diageo, in [...]
Intu’s centres jump in value July 31, 2014 SHOPPING centre giant Intu posted a 7.6 per cent jump in the value of its properties in the first half of the year, increasing its net asset value per share to 372p. The owner of the Metrocentre and Merry Hill said the rise in NAV reflected a £573m valuation gain, as strong demand from investors [...]
Investors pat Pets at Home after sales rise following share price decline July 30, 2014 Shares in Pets at Home leapt seven per cent yesterday after the newly-listed group won over unconvinced investors and delivered strong first quarter sales. The company, which provides pet food, accessories and veterinary services across more than 380 outlets, has seen a sharp decline in its share price since floating in March. It is one [...]
Greggs’ fattens sales as Britons feast on its healthier snacks July 30, 2014 GREGGS said its new blend of coffee and slimmed down range of sandwiches were helping to fatten up sales as the bakery chain posted a strong first half yesterday. Sales rose 3.1 per cent to £373m in the six months to 28 June while likefor- like sales jumped 3.2 per cent, helped by weak comparatives [...]
Taylor Wimpey builds up return to shareholders July 30, 2014 TAYLOR Wimpey said yesterday it plans to accelerate cash returns to shareholders next year after the UK’s buoyant housing market helped the housebuilder deliver a strong first half performance. The group posted a 64 per cent jump in adjusted pre-tax profits to £178.4m for the six months to 29 June, compared with the same time [...]
