Tesco fightback steadies giant’s market share January 29, 2013 TESCO maintained its market share and matched market growth for the first time since June 2011, according to the latest grocery share data from Kantar Worldpanel. The UK’s biggest supermarket grew sales year-on-year by 3.3 per cent in the 12 weeks to 20 January, giving it a market share of 30.4 per cent, as its [...]
National Grid’s recovery after storm on track January 29, 2013 NATIONAL Grid has a positive outlook for the year in spite of ongoing recovery work at its US business, which was battered by Hurricane Sandy, it said yesterday. Investor relations head John Dawson told analysts that working capital is likely to be £200m to £300m higher than normal in the first half of the year [...]
Rise of the iPad gambler gives William Hill lift January 29, 2013 A RAPID rise in people gambling from their phones and tablets propelled William Hill to a 20 per cent rise in profits last year. The bookie said it had seen a 260 per cent increase in turnover from mobile gaming in 2012, leading the online business to grow operating profits by 36 per cent. Chief [...]
PZ Cussons first-half profit rises on growth in Asia and the UK January 29, 2013 PZ CUSSONS, the maker of Imperial Leather soaps, reported a 10 per cent rise in first-half profit as growth in the United Kingdom and Asia offset tough trading conditions at its key Nigerian market. The soap and shampoo maker said performance of its UK washing and bathing division was robust and that its business in [...]
Carpetright lifts British sales yet trading in Europe disappoints January 29, 2013 CARPETRIGHT posted better than expected third quarter sales in its home market after “self-help” measures such as store revamps and new product ranges helped to boost trading. The flooring specialist retailer, said UK like-for-like sales were up 3.2 per cent in the 13 weeks to 26 January, compared with a 0.6 per cent rise in [...]
Greencore warns UK market showing little or no growth January 29, 2013 FOOD group Greencore yesterday said a “challenging UK food market” has resulted in flat like-for-like sales in the first quarter of the year. The company, which makes prepared meals and sandwiches for retailers such as Tesco and Asda, said sales at its convenience food division rose 2.5 per cent to £285.8m in the 13 weeks [...]
Analyst Views | How does William Hill’s trading update affect your rating? January 29, 2013 IVOR JONES NUMIS William Hill enjoyed a strong fourth quarter but the shares have performed very well and we doubt that there will be forecast changes following the trading statement. We believe the share price will retrace its recent steps and we reiterate our “Reduce” recommendation and 310p target. NICK BATRAM PEEL HUNT The acquisition [...]
Property fund Welpic delays Aim flotation January 29, 2013 A WEST END investment company has delayed its initial public offering set for next month in a bid to round up some last-minute investor interest. The newly-formed West End of London Property Investment Company (Welpic) was originally intending to float on the Alternative Investment Market on 5 February, in a listing expected to raise around [...]
The Hut Group takes hold of cycling gear site Probikekit January 29, 2013 THE HUT Group yesterday announced it had bought Probikekit, the latest in a string of acquisitions from the internet retailer. By snapping up the firm, which counts retail veterans Sir Stuart Rose and Sir Terry Leahy among its backers, the outfit has jumped on the bandwagon of the recent cycling craze, driven by Olympic stars [...]
Auditor Ernst & Young cleared over Lehman January 29, 2013 ERNST and Young will not face any action relating to its work with Lehman Brothers in the year before the bank’s collapse, the Financial Reporting Council ruled yesterday. The Big Four auditor had faced claims it had been too lenient on the bank, signing off their reports into its European arm despite Lehman breaking the [...]
