Oil supplies are sufficient until 2015, says IEA June 23, 2010 RISING oil supplies will mostly offset higher demand over the next five years, the International Energy Agency (IEA) said yesterday in a report that helped push prices lower. IEA data showed the supply-demand picture would be virtually unchanged next year compared with this year, although spare capacity would begin to shrink by 2015. Gas markets, [...]
SNAP HAPPY June 23, 2010 Samsung NX10 A hybrid camera combining compact dimensions with digital SLR tech, the NX10 includes a 14 megapixel detachable lens, HD movie recording, and a very high quality, 3 inch viewing screen. £599 www.jessops.com Leica V-Lux 20 Taking a camera on your travels is one thing, but how about one that can record exactly where [...]
Kesa back in black despite tough market June 23, 2010 COMET owner Kesa has posted an 18 per cent rise in full-year profit as improved gross margins offset a decline in underlying sales growth. The electricals retailer, which also runs market leader Darty in France, made an underlying pre-tax profit of £81.9m for the year to 30 April. That was ahead of company guidance of [...]
Capital Pubs toasts boost from real ale June 23, 2010 CAPITAL Pub Company has seen a rise in profit – fuelled by real ale sales during the World Cup. The group – which has 28 pubs and has plans to own up to 50 within three years – yesterday reported a 32 per cent profit jump to £2.7m. Revenues rose by 11 per cent to [...]
Waitrose to acquire five stores in Channel Islands June 23, 2010 WAITROSE is buying five supermarkets in the Channel Islands. Local chain Sandpiper CI has sold the stores to the UK supermarket giant. The deal is subject to the approval of the Jersey Competition Regulatory Authority. It is not expected to complete before the end of October. It will include the three Checkers supermarkets in Jersey [...]
Wilkinson sees its profit soar as cost cuts deliver June 23, 2010 BUDGET chain Wilkinson has had another strong year with profits more than doubling in the year to 29 January. Pre-tax profits rose from £29.5m to £65m in the year. Like-for-like sales increased by two per cent. Turnover climbed seven per cent to £1.6bn. The retailer said it was “particularly pleased with progress on profit”. Operating [...]
Rank puts cost on tax rises June 23, 2010 Leisure group Rank yesterday became the first major public company to put a total on how much extra the emergency Budget would cost it. The Mecca bingo and Grosvenor casinos operator said the rise in the standard rate of VAT and changes to the National Insurance regime would result in a net cost increase of [...]
Sainsbury’s school uniform push June 23, 2010 Sainsbury’s has launched its biggest ever “Back to School” range in a bid to boost profit – giving mums 500 uniforms to “road test”. The latest range offers 12 Back Tu School products. Sainsbury’s is the eighth largest schoolwear retailer by volume, and has the fastest growing range on the high street with a 3.1 [...]
OUT OF OFFICE June 23, 2010 MASTER DRAWINGS LONDON Celebrating its 10th anniversary this year, Master Drawings London is a chance to pick up high quality works by artists stretching from the Renaissance to the present day. 21 dealers specialising in drawings will be joining together to mount a series of exhibitions around St James’s, Mayfair and Bloomsbury, with collectors and [...]
C4 scrapes a profit despite downturn June 23, 2010 Channel 4 survived the worst advertising downturn in its history to record a modest profit last year. The broadcaster offset a loss of more than £60m on its terrestrial station with swingeing cost cuts and strong advertising performance in its digital offerings to finish the year £300,000 in the black. The firm’s profit was significantly [...]
