Sales rise but expansion hits Regus’ profits May 3, 2012 REGUS, the flexible office space provider, yesterday posted strong sales growth despite taking a hit from its rapid expansion plan. Turnover in the first quarter grew by 8.8 per cent to £299.3m, boosted by a £26 increase in revenue per occupied workstation to £1,883. Regus said its mature business – comprising the centres opened before the [...]
Can maker Rexam says trading is in line but its shares fizzle out May 3, 2012 PACKAGING group Rexam pared back early gains yesterday to close flat, after reporting that its sales were in line with expectations. Rexam, which manufactures products from drinks cans to cosmetics packaging, reported good volumes in its European business. The firm said that its North American arm, which makes cans for Pepsi, Jim Beam and Starbucks, was [...]
Smith & Nephew climbs after restructuring starts to pay off May 3, 2012 ARTIFICIAL hip and knee maker Smith & Nephew (S&N) said yesterday the early fruits of a restructuring programme and a strong performance in knee implants delivered a better-than-expected five per cent rise in first-quarter trading profit. The group, which also makes wound therapy products, reported trading profit of $252m (£155m), $10m better than analysts expected, [...]
General Motors disappoints with outlook as Opel losses improve May 3, 2012 GENERAL MOTORS yesterday offered investors a disappointing outlook for the upcoming six months in North America, raising questions about the US economy’s recovery. While the world’s largest carmaker posted a first-quarter profit that surpassed forecasts, the outlook for its core market fell short of expectations. “We’re clearly seeing some improvement in the economy,” finance chief [...]
House prices fall again in April as recession crushes consumers May 3, 2012 HOUSE prices fell again in April, Nationwide revealed yesterday, as economists warned the new recession will keep the market very weak. Prices fell 0.2 per cent last month to an average of £164,134, following a one per cent fall in March. That brings prices down 0.9 per cent on the year, in part because the [...]
Top think-tank predicts Britain will see zero growth this year May 3, 2012 THE ECONOMY will stagnate in 2012, recording no growth, a leading think-tank predicted yesterday, contrasting starkly with official forecasts for an economic expansion and raising calls for a short-term fiscal boost. The fall in GDP in the first quarter of the year, which took Britain back into recession, has dragged down the National Institute for [...]
Kesa sells stake in Darty Telecom May 3, 2012 ■ Electrical group Kesa has sold a majority stake in its French telecoms business to Bouygues Telecom, lifting shares 1.7 per cent yesterday. Under the agreement, Kesa will sell a 99.9 per cent stake in Darty Telecom for €40m (£32m) and will receive a share of future revenues based on the existing and future subscriber [...]
BMW posts record sales in China May 3, 2012 ■ BMW, the world’s largest luxury carmaker, posted its strongest-ever first quarter yesterday, overcoming weakness in Europe with surging sales in China, which leapfrogged the United States to become its single-biggest market. Earnings before interest and taxes rose nearly 19 per cent to €2.13bn (£1.73bn). Profits were driven by a sharp rise in sales of [...]
Metro swings to a surprise loss May 3, 2012 ■ Germany’s Metro, the world’s fourth largest retailer, said yesterday that it would focus on fixing problems in its existing business before entering new markets such as Indonesia as it reported a surprise operating loss in the first quarter. The Duesseldorf, Germany-based group reported an operating loss of €9m (£7.2m) for the first quarter, blaming [...]
Schroders says Eurozone woes hitting demand May 3, 2012 THE CHIEF executive of Schroders yesterday warned of the impact of more Eurozone turmoil as the asset manager posted an eight per cent drop in first quarter profits. Michael Dobson said he was wary of events in Europe despite a recent easing in market swings. “You can trace investor demand pretty closely to what’s happening [...]
