Lavendon pre-tax profits slide March 1, 2011 Industrial equipment rental firm Lavendon Group posted a slight dip in underlying pre-tax profit to £13.1m yesterday, which it blamed on the continued market slowdown. The company, which rejected two takeover offers from TVH and Ashtead in the last three months, said revenues were broadly flat at £225.4m and said the severe weather during 2010 [...]
Ricardo celebrates contract wins March 1, 2011 Engine-maker Ricardo said its half-year profit from continuing operations rose 32 per cent to £5m, after an 11 per cent rise in revenue from new contracts. The firm said it expects further contract wins this year to build on its £117m order book, which includes an agreement to supply the transmission for the 2012-2014 World [...]
Meggitt expects recovery March 1, 2011 Meggitt, which supplies flight displays and wheels to planemakers, reported a nine per cent rise in full-year underlying profit to £256m yesterday, boosted by strong growth at its civil aerospace and energy units. Revenue rose one per cent to £1.162bn, helping to fund a nine per cent dividend hike to 9.2p. The firm expects medium-term [...]
Cookson reinstates dividend March 1, 2011 Shares in Cookson Group rose five per cent yesterday after the industrial materials group posted a forecast-beating surge in full year pre-tax profit, reinstated its dividend at 11.5p and predicted an even better performance in 2011. The firm said headline profit before tax rose 193 per cent to £222.1m in 2010.
Ocado lifted by upgrade March 1, 2011 OCADO shares were boosted yesterday after broker Goldman Sachs upgraded its rating on the shares. The stock has fallen by almost a quarter since 11 February, when Goldman – Ocado’s house broker – placed ten per cent of the company’s shares at 265p each. Goldman raised its rating on the online delivery company from “hold” [...]
Supermarket sales slowing as shoppers rein in spending March 1, 2011 SALES growth at grocers slowed in February, despite higher prices, according to market research published yesterday, adding to signs of growing caution among consumers since the start of the year. Kantar Worldpanel said grocery sales rose 3.9 per cent year-on-year in the 12 weeks to 20 February, down from 4.2 per cent growth for the [...]
Nestle joins the hunt for Yoplait as suitors line up with offers March 1, 2011 NESTLE and General Mills are among leading candidates to buy a 50 per cent stake in French yoghurt maker Yoplait. General Mills and Nestle have submitted offers for the Yoplait stake being sold by private equity firm PAI Partners, valuing the yoghurt maker at about €1.6bn (£1.35bn) according to Bloomberg. China’s Bright Dairy & Food [...]
GOK WAN TO DESIGN FOR SAINSBURY’S March 1, 2011 TV FASHION guru Gok Wan is set to create a number of womenswear collections for Sainsbury’s with the first due to hit the shelves this autumn. He will design for the retailer’s TU clothing label as part of a move to expand its clothing category. Wan said: “While I’ve styled thousands of women over the [...]
Vivendi sees profit growth in Brazilian TV March 1, 2011 EUROPE’S biggest telecom and entertainment group, Vivendi, which owns Lady Gaga’s record label Universal Music Group, said it expects profits to grow slightly in 2011 despite economic and regulatory pressures as it reaps the benefit of emerging markets growth. Vivendi yesterday reported 2010 results that were above forecasts, helped by growth at Brazilian telecom subsidiary [...]
Morgan Stanley in hacker hit March 1, 2011 MORGAN Stanley was the target of a “very sensitive” attack by Chinese hackers, according to a series of leaked emails. It is understood the firm was targeted by the same hackers that gained access to Google a year ago. Morgan Stanley is thought to be the first financial institution to be hit by “Operation Aurora” [...]
