Conoco earnings fall short of Wall St expectations April 27, 2011 CONOCOPHILIPS yesterday reported higher first-quarter earnings that fell short of Wall Street expectations as its oil and gas production and refining results disappointed. Conoco’s production, which missed the company’s and Wall Street’s targets, was hurt by civil unrest in Libya, a temporary shutdown of the Trans Alaska Pipeline system in January and asset sales, Conoco [...]
VW profits revved up by emerging markets growth April 27, 2011 VOLKSWAGEN, Europe’s largest carmaker, posted consensus-busting first-quarter results and affirmed its upbeat 2011 outlook thanks to demand from emerging markets and lower costs. “We continue to see the most dynamic growth prospects in the emerging markets of Asia and Latin America, whereas the industrialised nations will continue to experience only moderate growth,” Volkswagen said yesterday. [...]
Bodycote expects strong full-year April 27, 2011 Engineering company Bodycote said yesterday it expected its headline operating profit for the financial year 2011 to be at the top end of analysts’ forecasts on demand from heavy truckmakers. Bodycote said sales for the three months ended 31 March were 19.2 per cent higher than last year.
Silence plans share placement April 27, 2011 Biotech company Silence Therapeutics has unveiled plans for an up-to £6.5m share placing to fund the continued development of two potentially breakthrough treatments for cancer. The placing of 275m shares at 2p each is being underwritten by Singer Capital Markets.
Salamander spuds Thai well April 27, 2011 Salamander Energy has said its Dao Ruang-3 appraisal well on Block L15/50 offshore Thailand has spudded and is expected to take 45 days to drill to the planned target depth of 1,900 metres. Salamander is operator of the block with a 50 per cent interest.
Strike halts Kenmare production April 27, 2011 Mining firm Kenmare Resources has reported a strike at its Moma titanium mine in Mozambique. The strike has “temporarily suspended” production, Kenmare said. Moma is Kenmare’s only operation.
Demand high at ABB April 27, 2011 Swiss engineering group ABB expects high oil prices and the Japanese earthquake to spur demand for energy-efficient equipment, helping it take in in more orders than anticipated in the first-quarter. ABB reported first-quarter net income of $655m (£395.6m).
AB Foods hit as costs take toll on profit April 27, 2011 PRIMARK owner AB Foods yesterday saw its shares tumble as it warned that its full-year profit would be dented by soaring costs. The company said it expected full-year profits to be similar to those last year, as it announced its half-year results. It had previously expected annual earnings to rise. Profit for the six months [...]
Game names new chair as sales slip April 27, 2011 VIDEO game retailer Game Group yesterday said its sales had dropped as it announced that Chris Bell would be the company’s new non-executive chairman. He will take over when Peter Lewis retires after the firm’s annual general meeting in June. Bell has been a member of the Game board since 2003 and is currently the [...]
Carpetright gives third alert April 27, 2011 CARPETRIGHT, Britain’s biggest floor coverings retailer, yesterday warned on profit for the third time this year as cash-strapped shoppers held back on big-ticket purchases and raw material cost rises hit margins. Carpetright said it expected underlying pre-tax profit for the year to 30 April to be slightly below the £17.2m achieved in 2008/09. Earlier this [...]
