Greggs is on a roll as sales grow again October 6, 2011 HIGH street baker Greggs yesterday reported a rise in sales growth in the third quarter despite the squeeze on consumer spending. Like-for-like sales rose 0.8 per cent in the 13 weeks to 1 October, the company said in an interim management statement. That compares with a rise of 0.4 per cent in the first half [...]
Legal market overhaul starts as Tesco law comes into force October 6, 2011 SUPERMARKETS, banks and other high street stores are now able to offer legal services to their customers, after a new law to liberalise the UK’s legal sector came into force yesterday. The Legal Services Act, dubbed the Tesco law, introduces the idea of alternative business structures (ABS), which allow law firms to seek outside investment, [...]
Cranswick is boosted by shoppers’ switch to pork October 6, 2011 SAUSAGE specialist Cranswick has seen an increase in pork sales as consumers switch to cheaper meats. The group, which issued a profits warning in July, said the versatility and relatively low price of pork are key to this positive trend. It added that the growing popularity of pork products has been a contributory factor to [...]
TED BAKER BUCKS HIGH STREET GLOOM October 6, 2011 British designer clothing brand Ted Baker yesterday posted strong first-half results led by growth in its overseas and online businesses, and raised its interim dividend 13.5 per cent. The fashion retailer, which began as a menswear brand in Glasgow in 1987, said for the 28 weeks to 13 August, pre-tax profits rose to £8.5m from [...]
EasyJet looks to open new French bases October 6, 2011 LOW-COST carrier easyJet has unveiled plans to open two new bases in France next year, stepping up the competition with the nation’s flagship carrier Air France-KLM. EasyJet announced yesterday it will add two Airbus 319 aircraft in Nice and Toulouse airports, bringing the airline’s number of French bases to five – with the other three [...]
Qantas signs deal for 110 more A320 Airbus planes October 6, 2011 AUSTRALIAN airline Qantas said yesterday that it had finalised an order for 110 single-aisle Airbus planes following a commitment for the aircraft signed in August. The carrier announced a firm order for 78 of Airbus’ next generation A320neo jets, along with 32 A320 planes, adding that it will decide on which engine to use with [...]
US airlines set to lose over EU carbon cap plan October 6, 2011 A SCHEME that would force all foreign airlines to pay for their greenhouse gas emissions “is compatible with international law”, an adviser to the bloc’s top court has said, in response to a challenge by North American airlines. The opinion, issued yesterday by the advocate general at the European Court of Justice in Luxembourg, marks [...]
Exillon finds extra oil in West Siberia October 6, 2011 OIL producer Exillon Energy said it found oil at a Russian well, and would connect it to the existing production facilities following testing. The London-listed company said it found 15.5 metres of net oil pay – referring to the zone of a reservoir that contains economically producible oil – at its EWS I-43 well in [...]
BEST OF THE BROKERS October 6, 2011 PERNOD RICARD JP Morgan rates the drinks giant as “overweight” with a target price of €71, ahead of a first quarter sales report on 20 October. The broker forecasts sales of €1.95bn versus a company consensus of €1.91bn, and organic sales growth of 5.6 per cent for 2012 against a consensus of 6.1 per cent. Sales [...]
Aminex slumps as well is shut October 6, 2011 SHARES in oil and gas explorer Aminex plummeted more than 40 per cent yesterday after the company said it had suspended work on its exploration well off the coast of Tanzania. The company blamed “extreme drilling conditions” due to obstructions at the base of the well bore for the problems. Despite the hold up, Aminex [...]
