British American Tobacco sees strong growth at start of 2012 April 26, 2012 BRITISH American Tobacco, the world’s second-largest cigarette maker, has reported a 0.7 per cent rise in underlying first-quarter volumes, driven by growth in its major brands in a challenging global trading environment. The London-based group, which makes Kent, Dunhill, Lucky Strike and Pall Mall cigarettes, said yesterday that overall group volumes rose 1.3 per cent [...]
Unilever sales lifted by price hikes and emerging markets April 26, 2012 CONSUMER goods giant Unilever beat forecasts with an 8.4 per cent rise in first-quarter sales yesterday, helped by price hikes and emerging market growth. The Anglo-Dutch maker of brands like Dove and Knorr is battling high input costs from rising commodity prices such as crude and vegetable oils, and slow growth in developed nations. It [...]
Arden Partners suitor walks away April 26, 2012 ■ City broker Arden Partners will not be bought by former director Grahame Whateley after the two sides failed to reach a deal before a Takeover Panel deadline yesterday. The firm said it had “engaged in discussions with Whateley” but could not agree on the structure of the takeover.
Graphite Capital in restaurant focus April 26, 2012 ■ Private equity house Graphite Capital is putting £21m behind two of London’s best-known restaurateurs. It has invested in Rex Restaurant Associates, owned by Chris Corbin and Jeremy King, whose venues include The Wolseley, on Piccadilly, and The Delaunay, on the corner of Aldwych and Drury Lane. Corbin and King previously owned Le Caprice and [...]
Attention-deficit drugs boost Shire April 26, 2012 ■ Pharmaceutical firm Shire posted a 20 per cent rise in first-quarter earnings yesterday, just beating market expectations, as its drugs to treat hyperactivity lifted its US market share. Shire reported earnings per American Depositary Share of $1.48 in the three months to the end of March, on revenue 21 per cent higher at $1.17bn.
Shawbrook chief exec steps down April 26, 2012 ■ The chief executive of new business bank Shawbrook, Owen Woodley, has unexpectedly stepped down. The bank said he would be in post until today. His role will be filled on an interim basis by Philip George, currently joint managing director. Shawbrook is chaired by former RBS boss Sir George Mathewson.
FSA fines Exillon Energy £292,950 April 26, 2012 ■ The FSA yesterday fined Exillon Energy £292,950 for failing to identify around £930,000 of payments to its former chairman, and failing to disclose them to the FSA in a timely manner.
RALEIGH THROUGH THE YEARS April 26, 2012 1887 – Sir Frank Bowden bought an interest in a cycle company on Raleigh Street in Nottingham. The firm took its name from the street and was formed in 1890. 1960 – Raleigh Industries merged with TI Group, making Raleigh the world’s largest bike producer. 1970 – launches the Chopper, right, which was an enormous [...]
ADVISERS CAVENDISH April 26, 2012 CAVENDISH Cavendish advised on the sale of Raleigh. The deal is subject to regulatory approval in Germany, where Raleigh products are sold under license, and is expected to close at the end of May. The Cavendish team was led by Jonathan Buxton, partner, with support from Anya Cummins, associate director. “Raleigh, under the leadership of [...]
At a glance: American corporate results April 26, 2012 Colgate-Palmolive trumps expectations COLGATE-PALMOLIVE posted a higher quarterly profit yesterday that met analysts’ expectations as it increased advertising and cut costs to mitigate the impact of foreign currency fluctuations. The toothpaste maker also stood by its forecast for the year and said it remains comfortable with analysts’ expectations. Colgate earned $593m, or $1.23 per share, [...]
