ANALYST VIEWS: WHAT DID YOU MAKE OF SUPERGROUP’S RESULTS? September 7, 2011 WAYNE BROWN | COLLINS STEWART We feel with pressures on the UK consumer growing and execution risk high, it is appropriate to be cautious with the stock trading on a full rating and the lack of visibility over underlying retail momentum is unhelpful. NICK BUBB | ARDEN PARTNERS Given the grim consumer outlook, we had all [...]
Sports Direct says it will hit profit target September 7, 2011 SPORTS Direct, Britain’s biggest sporting goods retailer, said it would meet its year profit target even though it had to fork out a £2m success fee to golfer Darren Clarke for winning the Open Championship in July. Clarke wears the firm’s Dunlop brand. Sports Direct, controlled by Newcastle United owner Mike Ashley, said yesterday it [...]
Upbeat Prezzo plans to open 20 new restaurants September 7, 2011 BRITISH pizza restaurant chain Prezzo reported a 17 per cent higher first-half profit yesterday as it continued to open new restaurants and said it expected positive results for the year. The company currently has 168 restaurants, compared with 145 last year. Earlier this year it launched a new range of pizza, designed by Italian chef [...]
Thorntons sales fail to stem loss September 7, 2011 THORNTONS has reported a loss for the year ending 25 June despite recording record sales figures. Despite revenues of £218.3m, the chocolate maker, currently in the process of closing a number of high-street stores, made a pre-tax loss of £1.1m, down from a £6.1m profit in 2010. Even deducting exceptional costs – largely made up [...]
HomeServe to expand in US September 7, 2011 HOME emergency and repair expert, HomeServe, yesterday saw its shares rise by 2.7 per cent after it announced plans to expand its manufacturer warranty service into the US. Following success in the UK market, the Walsall-based company has confirmed its interest in the US and reached an agreement with AO Smith Water, one of North [...]
Ad giant WPP snaps up yet another firm September 7, 2011 THE WPP acquisition drive continued yesterday with the purchase of consultancy group Global Market Insite (GMI). The media group acquired the stock of Washington-based GMI, a provider of online panels to the market research industry, through its wholly-owned Kantar business. GMI had revenues of $64m (£40m) last year. The deal marks WPP’s twelfth acquisition this [...]
Music industry claims victory as EU extends copyright laws September 7, 2011 EU REGULATORS are set to give the music industry a boost by extending copyright protection by 20 years. Recordings will now be under copyright for 70 years, making it illegal for anyone to distribute them without permission. The EU council will rubber-stamp the changes on Monday, meaning member states will be required to write them into [...]
Mining slump drags down UK output September 7, 2011 MANUFACTURING in the UK barely increased in July, according to new figures out today, and industrial output as a whole declined. The 0.1 per cent rise in manufacturing continues the year’s volatility – output fell by 0.4 per cent in June and increased by 1.8 per cent in May. Output over the three months to [...]
The schools revolution should be above ideology September 7, 2011 A little revolution is quietly starting around the country this week – but its long-term effects will be profound. In the face of opposition from teachers’ unions and left wing campaigners, 24 “free schools” set up by charities, teachers or parents are opening their doors to pupils. They are state funded, but free from local [...]
Oz economy defies disasters September 7, 2011 FLOODING and cyclones knocked Australian GDP at the start of 2011, but the country has bounced back with strong figures released yesterday. Consumer spending and mining exports both increased, driving 1.2 per cent growth in the second quarter. There are challenges ahead though. “The Australian economy has increasing depended for growth on the export of [...]
