Nokia hangs up on dividend to preserve cash January 24, 2013 NOKIA returned to profit in the final quarter of 2012, as sales of its Lumia smartphones finally picked up. However, the Finnish company said it would not be paying a dividend for the first time in over 20 years, as it struggles to preserve its cash pile. Following a cost-cutting plan that saw tens of [...]
Margin caution from Jaguar Land Rover hits Tata Motors January 24, 2013 JAGUAR Land Rover’s (JLR) runaway profit growth could hit a speed bump in the next quarter, the firm said yesterday in an announcement that sent parent firm Tata Motors’ shares down as much as ten per cent. British carmaker JLR said that while revenues rose in the last three months of 2012, its profit margin [...]
Fuller’s improves at Christmas after watered-down summer January 24, 2013 CUSTOMERS flocked to Fuller’s pubs over Christmas, as the landlord and brewer reported a 4.5 per cent like-for-like sales rise during the festive period in its core business. After declining sales for much of the year, improved trading in the nine weeks to 19 January has pushed Fuller’s to a 2.6 per cent rise in [...]
Ladbrokes bets on online rally in Betdaq deal January 24, 2013 LADBROKES made its first acquisition under chief executive Richard Glynn yesterday, with the €30m (£25m) purchase of Irish exchange-betting website Betdaq. The move will expand the bookie’s online offering, which has struggled to gain a foothold in the internet betting market, a weakness rivals such as William Hill have exploited. The deal follows abandoned attempts [...]
Sony fined over PlayStation hack January 24, 2013 Sony has been fined by the UK’s data protection watchdog over a security lapse that led to millions of PlayStation users’ personal details, including credit card information, being compromised. The Information Commissioner’s Office (ICO) fined the Japanese electronics giant £250,000 and Sony said it would appeal the judgement. The ICO said the incident, which happened in 2011, [...]
Carphone Warehouse cheers January 24, 2013 Carphone Warehouse, Europe’s biggest independent mobile phone retailer, beat sales growth forecasts, with strong demand for smartphones and tablets in the UK more than offsetting weakness in France. Despite beating sales forecasts the firm said it would not be changing earnings guidance as it had invested in margins to drive revenue. Sales at stores open [...]
Online shopping spurs PayPoint January 24, 2013 Credit card processing company PayPoint yesterday said increasing internet transactions led it to a four per cent rise in revenues year-on-year for the three months to January. The firm, whose customers include Sainsburys Local, Asda and the Co-op, processed 193m transactions during the period, up five per cent on last year. The rise in internet [...]
Rail boost for Invensys ahead of strong year January 24, 2013 ENGINEERING group Invensys yesterday forecast an improved performance this year, as it was boosted by solid trading in its rail business. The FTSE 250-listed firm, which makes control systems for nuclear power stations, industry, railways and domestic appliances, said overall performance in the three months from 20 September had continued in line with the first [...]
US corporate results round up January 24, 2013 Lockheed Martin is confident on 2013 despite fourth quarter blow LOCKHEED Martin, the Pentagon’s biggest supplier, yesterday reported a 19 per cent drop in earnings per share to $1.73 for the fourth quarter from $2.14 a year earlier, reflecting one-off costs including a large non-cash pension adjustment. Excluding these, Lockheed earned $1.91 per share, beating [...]
Boris Island airport plan would need billions in public subsidy January 24, 2013 A NEW London airport in the Thames Estuary would need up to £30bn in public subsidy to make it viable, a report commissioned by MPs warned yesterday. The commercial value of any newly built airport is likely to be significantly lower than the £20bn to £50bn it would cost to build, consultancy Oxera said in [...]
