Canaccord says weak markets dented earnings February 8, 2012 CANACCORD Financial said yesterday its third-quarter profit plunged 94 per cent on a weak market and one-time charges, but the core result topped analysts’ estimates, prompting investors to push the Canadian brokerage’s shares higher. Canaccord, which agreed to buy London stockbroker Collins Stewart in December, said it earned C$2.5m (£1.59m) in the final quarter of [...]
London nets football cash capital title February 8, 2012 MANCHESTER clubs might currently be bullying their southern rivals in the Premier League, but London has been pronounced the undisputed football finance capital of the world. London boasts three teams – Arsenal, Chelsea and Tottenham – among Europe’s richest 11 clubs, with two more – West Ham and Fulham – inside the top 40, according [...]
Robust sales help Dunelm beat gloom February 8, 2012 SHARES in Dunelm rose almost four per cent yesterday, after the British homewares retailer said it grew like-for-like sales in the first half and gained market share despite a tough economic environment. The Leicester-based company reported a 1.1 per cent rise in like-for-like sales during the six months to 31 December compared with a 1.2 [...]
Mothercare aims for re-birth with Calver February 8, 2012 TROUBLED retailer Mothercare pinned its hopes of a domestic turnaround on the internet yesterday when it appointed the head of Lovefilm International as its new chief executive. Simon Calver will join the mother and baby chain in April. He replaces Ben Gordon, who quit in October after a profit warning. Calver (pictured), whose current employer [...]
Supergroup shocks with profit warning February 8, 2012 SUPERGROUP, the owner of fashion label Superdry, surprised the City yesterday after it warned that a slowdown in sales meant full-year profits would be at the bottom end of expectations. The retailer said that after a solid Christmas trading period, with like-for-like sales up 9.3 per cent in December, “there has been a slowdown in [...]
ANALYST VIEWS: HAS THE PROFIT WARNING AFFECTED YOUR OUTLOOK? February 8, 2012 JOHN STEVENSON | PEEL HUNT Retail sales were in line with forecasts and little changed from the Christmas interim management statement, with wholesale on track for second half expectations. Given the relative unimportance of January trading and weak fourth quarter comparatives ahead, we were therefore surprised management took the opportunity to cut profit-before-tax guidance to [...]
Amazon library of TV grows on Viacom venture February 8, 2012 AMAZON has joined forces with Viacom to bring a range of TV shows to its customers, marking the latest advancement in the internet giant’s online streaming battle with Netflix. Amazon Prime members will be able to stream thousands of episodes from the American media conglomerate – including MTV’s Jersey Shore, Comedy Central’s Chappelle’s Show, and [...]
Four bidders in the battle to save Peacocks February 8, 2012 ADMINISTRATOR KPMG has received four second-round bids to buy the collapsed retailer Peacocks – or parts of it – out of administration, it is understood. Edinburgh Woollen Mills is thought to be one of the bidders still in the running, while Pakistani textiles tycoon Alshair Fiyaz also emerged as a surprise bidder this weekend. KPMG, [...]
Virgin Media posts its first annual profit February 8, 2012 FIVE years after it was launched with an estimated £20m branding exercise, 13 giant poster sites around Britain and a television ad campaign voiced by Uma Thurman, Virgin Media has swung into the black for the first time. The cable operator posted net income of £75.9m, its first annual profit since it was launched in [...]
DMGT revenue up despite ad spend decline February 8, 2012 BRITISH newspaper group Daily Mail & General Trust (DMGT) said yesterday that overall revenue for the quarter rose two per cent at £495m, boosted by reinforcement in its digital areas. Although the company said its trading was broadly in line with expectations, it also said a decline in advertising revenues at its national titles accelerated [...]
