Swatch revenue soars despite weaker China luxury demand July 24, 2012 BOOMING demand for mid-priced watches in China is more than offsetting a slight cooling at the top end of the market, Swatch Group said yesterday as it stuck to a forecast for record annual sales. The world’s largest watchmaker, whose Omega brand is the official timekeeper for the London Olympics, reported first-half sales up 14 [...]
PZ Cussons hit by Nigeria and Australia woes July 24, 2012 SOAPMAKER PZ Cussons yesterday reported a sharp fall in full-year profits after shouldering higher raw material costs and suffering worsening trading conditions in Nigeria and Australia. The owner of Imperial Leather soap and St Tropez fake tan said profit before tax fell by 55 per cent to £48.5m in the year to 31 May. Profits [...]
Finsbury Food sales up to £207m July 24, 2012 Bakery goods maker Finsbury Food yesterday posted a 9.4 per cent leap in sales to £207m for the year despite tough market conditions and price inflation in key ingredients such as eggs and sugar. Its cake division enjoyed a 9.2 per cent jump in sales while its bread and free from division grew 10 per [...]
£5.5m to support high streets July 24, 2012 Nearly 400 struggling town centres have won support from a government programme that aims to help revive high streets. Fifteen will become “Portas Pilots” – named after retail consultant Mary Portas – and will receive investment and support from leading industry figures. Newly announced Portas Pilots in London include Lower Marsh and The Cut in [...]
Safety still rules at unflashy Volvo July 24, 2012 The law of Jante is a Swedish idea that discourages individuality and showing off. Literally it means: “Don’t think you’re anyone special or that you’re better than us”. It’s a fascinating idea because it’s contrary to the concept of a premium car, which by its very nature means “I deserve the best”. This puts Volvo [...]
CAR TALK July 24, 2012 Vauxhall’s new urban-chic small car Vauxhall has released images of its new urban-chic small car which will be launched at this year’s Paris motor show in September. Called Adam, the three-door, four-seater has a distinctive two-tone “floating” roof and will be offered with a choice of three petrol engines with optional start/stop technology and a [...]
Poor US factory data hits stocks July 24, 2012 DISAPPOINTING economic data weighed on US stocks yesterday, as worrying surveys continue to dent confidence in the recovery of the world’s biggest economy. An estimate of American factory activity for July revealed the slowest growth in 19 months, while a regional manufacturing survey showed its worst top line since April 2009. The Richmond Federal Reserve’s [...]
British Airways shows firms can recover ground July 24, 2012 IN January, I wrote about how British Airways had recovered from the difficulties it faced in 2010 when strikes, snow and the Icelandic ash cloud all caused delays and cancellations. In 2011, crisis was avoided and the company overtook many of its rivals in terms of brand perception to sit in second place behind Virgin [...]
Chinese survey picks up in July July 24, 2012 BUSINESS conditions in Chinese factories worsened this month, according to data released yesterday by Markit and HSBC. Yet the fall was only marginal, as the rate of decline improved significantly. The flash purchasing managers’ index (PMI) for manufacturing rose to 49.5 in July, where 50 indicates no change – the highest result for five months. [...]
US corporate results round-up July 24, 2012 AT&T beats expectations Telecoms firm AT&T posted higher than expected second quarter earnings yesterday. Gross profit was at $3.9bn, up from $3.59bn a year before. Customers waiting for the new iPhone postponed upgrades in the last quarter, falling to six per cent from seven per cent. Europe drags on Whirlpool Household appliance maker Whirlpool was hit [...]
