Greene King buys Realpubs as the fine weather brings in more customers April 27, 2011 PUBS and brewery group Greene King reported accelerating sales growth and said it had benefited from good weather attracting drinkers into its pubs over the last few weeks. The group, which brews Greene King IPA and Old Speckled Hen beer, also said it had purchased Realpubs, which operates 14 London pubs, for £53.1m. That takes [...]
Premier Foods sales slide as ingredient prices rise April 27, 2011 BRITAIN’S biggest food manufacturer Premier Foods reported a 3.1 per cent decline in first-quarter sales yesterday and said the consumer environment had become more difficult. The maker of Branston pickle, Bisto gravy and Hovis bread said its performance reflected the impact of a weak January and February following strong consumer purchases in December. Premier Foods, [...]
ANALYST VIEWS: CAN AB FOODS RETURN TO GROWTH AS COSTS RISE? April 27, 2011 JEREMY BATSTONE-CARR | CHARLES STANLEY We have long held AB Foods management in high regard and admire the candour with which the company faces up to its operational challenges. However, we will be lowering our earnings estimates in the light of these results and believe that the shares’ rating leaves little to go for. ANDREW [...]
Electrolux warns on prices April 27, 2011 Electrolux expects its price rises to stick as rival manufacturers also seek to pass on soaring raw materials costs to customers, it said yesterday. Appliance maker Electrolux and market leader Whirlpool have been hiking prices to offset costs for materials such as steel and plastics, and are seeking growth in emerging markets. “It was a [...]
Domino’s buys franchisee stake April 27, 2011 Domino’s Pizza has bought 75 per cent of the main franchisee for the pizza delivery group in Germany, Intergrowth Enterprises. The other 25 per cent will be retained by Briskas, part of the German hotel operator Grand City Hotels Group. “While the total market size is yet to be determined, the company aims to open [...]
Stanley Gibbons in wedding lift April 27, 2011 Stamp and collectibles trader Stanley Gibbons said yesterday Royal Wedding first day covers were flying off the shelves. The company announced a 36 per cent increase in turnover for its latest quarter, compared to the same period last year. Retail sales from its flagship premises at 399 Strand were up 25 per cent. It said [...]
CITY MOVES | WHO’S SWITCHING JOBS April 27, 2011 AZ Electronic Materials Mike Powell will join the board of AZ Electronic Minerals on 1 September as chief financial officer. Powell succeeds the company’s current CFO Ken Greatbatch, who will retire on 31 August after reporting the firm’s half-year results. Powell joins from Nippon Sheet Glass, where he has been group finance director for the [...]
BEST OF THE BROKERS April 27, 2011 SCOR Societe Generale has upgraded its outlook on the global reinsurance company from neutral to “buy” following its acquisition of Aegon’s Transamerica reinsurance unit. Though the broker sees a short-term negative impact, with 2011 estimates revised down by seven per cent and earnings per share revenues for 2012-13 down by 13-14 per cent. But it [...]
FTSE flat as investors await news of Fed’s monetary policy April 27, 2011 BRITAIN’S top share index ended flat yesterday ahead of Federal Reserve Chairman Ben Bernanke’s news conference which could provide clues on the Fed’s future plans for its monetary policy. The blue-chip FTSE 100 was down 1.2 points or 0.02 per cent at 6,068.16, having hit a 9-week closing high on Tuesday. Volume was only 87.6 [...]
Bernanke message cheers US markets April 27, 2011 THE Nasdaq jumped to a 10-year high as US stocks rallied yesterday after Fed Chairman Ben Bernanke’s first-ever press conference did nothing to short-circuit investors’ optimistic outlook on the economy. All three major US stock indexes extended gains after comments from Bernanke at his press conference, where he reiterated the Fed’s stance that inflation was [...]
