Shell earnings rise fuelled by oil price jump April 26, 2012 OIL major Royal Dutch Shell beat forecasts yesterday with an 11 per cent rise in quarterly profit, fuelled by higher oil prices. Europe’s largest oil company by market capitalisation said its current cost of supply (CCS) net income – an industry measure of profit – jumped to $7.66bn (£4.7bn). Production lifted by 1.4 per cent [...]
Invesco profits push up dividend April 26, 2012 FUND manager Invesco yesterday announced that profits were up nine per cent for the first-quarter, bolstered by new business and rising stock markets. Net income at the American firm was $193.9m (£119m), up from $177.5m for the same period a year earlier. Investors – who have already seen shares gain 22 per cent so far this [...]
IS SHELL’S STRATEGY WORKING AND WHAT IS THE OUTLOOK FOR 2012? April 26, 2012 TONY SHEPARD | CHARLES STANLEY We expect outperformance to continue providing Shell delivers on its growth strategy. The increased guidance on disposals should be well received and will help to pay for the $1.8bn bid for Cove Energy. STUART JOYNER | INVESTEC Shell’s results were better than expected. Refining continues to be a drag, with [...]
Exxon sees 5pc drop in oil and gas production April 26, 2012 EXXON Mobil yesterday posted a lower first-quarter profit as its oil and natural gas production slumped more than five per cent, pushing its shares down. The company said in March its oil and gas output would be down about three per cent this year from 2011, but several large projects due on line would increase [...]
Croda sees strong start to year April 26, 2012 ■ British chemical maker Croda International’s first-quarter profit rose seven per cent helped by growth at its consumer care and performance technologies divisions. The company, which caters to cosmetics, healthcare, agriculture and homecare markets, said its quarterly results represented a strong start to the year. Croda reported January-March pre-tax profit of £65.1m from £60.7m a [...]
Borders and Southern in placing April 26, 2012 ■ Falklands oil explorer Borders and Southern yesterday announced a £46m placing aimed at further investigation of a gas find reported this week. The company placed 55.3m shares at £0.84 per share. Borders said more work would be carried out on its Darwin East well. Its share price fell after it announced the gas find [...]
Polyus confirms stake sale April 26, 2012 ■ Russia’s largest gold firm, Polyus Gold said yesterday it is working towards its goal of securing a premium listing in London and selling a 7.49 per cent stake held by its subsidiary, Jenington International. The stake is estimated to be worth up to $700m (£432m).
Asos hit as rate of growth dips in tough times April 26, 2012 ONLINE fashion retailer Asos yesterday reported a double whammy of a slowdown in sales growth, coupled with a drop in prices due to the reduction in spending power of its teenage customers. In the company’s fourth trading quarter in the three months to 31 March UK sales nudged up by only four per cent year-on-year. [...]
Costa coffee rolls in the beans for parent company Whitbread April 26, 2012 A SHARP rise in sales at the Costa cafe chain helped take its parent group Whitbread to an 11 per cent profits rise. The high street coffeehouse grew revenue by 27.5 per cent to £541.9m and upped its profits by 38 per cent to £69.7m in the year to 1 March. The strong performance boosted [...]
Starbucks sees 19pc profit jump despite lower sales in Europe April 26, 2012 EUROPE proved to be Starbucks’ achilles heel yesterday with the global coffee chain reporting lower than expected second-quarter global sales after demand in the region fell. Sales from cafes open at least 13 months fell one per cent in Europe, the Middle East and Africa (EMEA) during the quarter, far short of expectations amid a [...]
