Carphone Warehouse in smartphone sales surge May 5, 2011 CARPHONE Warehouse yesterday raised its profit guidance for the third time in six months, boosted by demand for smartphones and its US growth. Europe’s largest independent mobile phone retailer raised its forecast for earnings per share in the year to 31 March to a range of 14.5p to 15p from its previous guidance of 13.5p [...]
Rexam knocked by plastics unit May 5, 2011 EUROPE’S largest drinks can maker Rexam has reported first-quarter trading in line with its expectations, but said the outlook for its plastic packaging division was now more cautious. Rexam, which makes cans for Carlsberg and Red Bull and packaging for healthcare and cosmetic products, yesterday said it had seen weak trading in home and personal [...]
Morrisons in royal boost May 5, 2011 PROMOTIONS and a surge in spending on bunting and picnics for the royal wedding helped Morrisons beat quarterly sales forecasts yesterday. But Britain’s fourth biggest supermarket chain said it was wary of the tough road ahead as customer spending come under more pressure. Sales at stores open over a year rose 2.5 per cent, excluding [...]
ANALYST VIEWS: CAN DIAGEO SUSTAIN ITS TREND OF RISING SALES? May 5, 2011 IAN SHACKLETON | NOMURA We believe growth of five per cent in 2011 is achievable, and could accelerate in 2012. This combined with a more aggressive attitude to building in emerging markets and in M&A continues to make Diageo shares look attractive. There was further improvement in price/mix in markets. KEITH BOWMAN | HARGREAVES LANSDOWN [...]
3i spin-off doubles income May 5, 2011 INVESTMENT firm 3i Infrastructure yesterday posted a 3.6 per cent rise in total returns yesterday, giving shareholders a 9.2 per cent return on their equity. The FTSE 250-listed firm also doubled its portfolio income for the year to the end of March to £69.3m. The company invested a total of £187.5m during the year, spending [...]
Talk of listing lifts up M&P May 5, 2011 FRENCH oil explorer Maurel & Prom’s (M&P) shares rose nearly five per cent yesterday as the firm said it may seek a separate listing for its Nigerian unit and could distribute shares of this unit to its shareholders. Maurel & Prom said in a statement its investment in SEPLAT, a 45 per cent owned subsidiary [...]
Aer Lingus in profit warning May 5, 2011 IRISH airline Aer Lingus may ramp up a controversial cost-cutting plan after confirming profit this year will be significantly below 2010 due to weak demand and higher fuel prices. Facing constant pressure from Ryanair, Aer Lingus has cut routes, staff and pay to survive and another round of cuts could put it on a fresh [...]
Mondi posts progress but warns on costs May 5, 2011 SOUTH African papermaker Mondi yesterday warned rising input costs were putting pressure on its margins as it posted a rise in first-quarter profit, driven by higher prices and sales. Mondi said cost hikes would be more moderate than the 12 per cent rise seen last year. “I would estimate that it would be around a [...]
Costain trading in line this year May 5, 2011 CONSTRUCTION group Costain said yesterday trading has been in line with forecasts so far this year, with a forward order book of £2.3bn. Costain, which spent five months unsuccessfully pursuing a takeover of Mouchel earlier in the year, said £850m in revenue has been secured for 2011 so far. The company also has a cash [...]
Galliford Try raises forecasts May 5, 2011 HOUSEBUILDING and construction company Galliford Try yesterday upgraded its profit forecasts for the year as it saw a rebound in housing demand and an improvement in mortgage availability, sending its shares to a 20-month high. The company said it expected results for the year ending June to be significantly ahead of current market estimates on [...]
