Shares might be too hot to handle February 1, 2011 IT is hard to find fault with ARM’s results, which beat expectations on just about every count. Revenues of $180m (£112m) were nine per cent ahead of consensus; ebit margins of 41.1 per cent were higher than the expected 39.4 per cent; and adjusted EPS was 2.9p, 27 per cent ahead of consensus at 2.28p. The [...]
Tate & Lyle to meet expectations February 1, 2011 Tate & Lyle expects to make progress for its full-year after seeing broadly similar margins, having fixed prices for its 2011 North American pricing round for its corn sweeteners and starches. The company also said yesterday that it had raised the price of its corn sweeteners by up to a fifth to offset soaring corn [...]
Wagers up at Sportingbet February 1, 2011 British online gaming firm Sportingbet said yesterday that amounts wagered in the first half of the year were up 11 per cent on strong trading, especially in Australia and emerging markets. Sportingbet shares, which have lost nearly a quarter of their value over the past year, closed up 0.2 per cent at 50p.
Utilities performing well February 1, 2011 Northumbrian Water Group said trading in the second half had been in line with estimates, putting it on track for a “sound” performance for the year to March 2011. Scottish & Southern Energy meanwhile said that its household customers used more gas in the last 10 months, and that it expected profits to be in [...]
Ocado losses narrow after shaky float February 1, 2011 ONLINE grocery delivery company Ocado yesterday said its losses had narrowed in 2010 – after it weathered the storm following a controversial stock market float. The internet retailer halved its pre-tax loss to £12.2m. Meanwhile it made pre-tax profit of £300,000 for the final quarter – the first profit it has recorded. Ocado chief executive [...]
Greenbank to beat forecasts February 1, 2011 SHARES in Walker Greenbank rose 5.7 per cent after the wallpaper and fabrics maker said yesterday it expects full-year profit to beat market expectations, helped by a strong performance across all its brands. “Walker Greenbank has an impressive track record, growing at 16 percent per annum over the last three years,” Seymour Pierce analyst Kate [...]
Carpetright in profit warning February 1, 2011 CARPETRIGHT, the UK’s biggest floor coverings retailer, yesterday warned on profits after a third-quarter sales slump, showing how a weak housing market, tax hikes and government cuts have hit consumer confidence. The retailer also said customers would face double-digit price rises this year due to the soaring cost of raw materials. “It is the first [...]
The case of the banker, his wife and their accomplice February 1, 2011 AN extraordinary insider dealing case that took investigators from the windswept towers of Canary Wharf to the sun-kissed tropics of Mayotte is expected to end today with jail terms for each of the three suspects. The case against a banker, his wife and their accomplice was a flagship investigation for the FSA – a warning [...]
Global output rises at a record speed February 1, 2011 MANUFACTURING around the world surged powerfully ahead last month, but inflationary pressures also picked up speed heightening fears that central banks would be forced to begin hiking interest rates. Britain’s closely watched Markit/CIPS monthly purchasing mangers’ index rose to 62 for the first month of 2011, up from 58.7 in December – the highest reading [...]
House prices and mortgage approvals drop in January February 1, 2011 HOUSE prices and mortgage approvals both fell in the first month of 2011 sparking fears of a sluggish year for the property market, according to closely watched data published yesterday. Mortgage lender Nationwide, the first to publish figures for January, indicated that house prices declined by a seasonally adjusted 0.1 per cent last month after [...]
