Provident Financial is hit by nervous borrowers July 27, 2010 Provident Financial said it was not expecting any change in the economy for the rest of the year as it missed expectations for its first-half profit. However, chief executive Peter Crook said he was comfortable with current full-year profit forecasts, adding the business is set to benefit from cost-cutting measures and lower funding costs. He [...]
Halfords dips as the Budget takes its toll July 27, 2010 HALFORDS posted a fall in first-quarter underlying sales yesterday, with trade disrupted by May’s general election, June’s emergency Budget and the football World Cup. The group, which runs 462 Halfords stores and the 225-site Nationwide Autocentres car servicing business acquired in February, said yesterday it remained on track to grow the year to the end [...]
PZ Cussons bullish on growth July 27, 2010 BRITISH soap and shampoo maker PZ Cussons beat forecasts with a 20.6 per cent rise in annual profits yesterday and said it looked ahead with cautious optimism despite an uncertain consumer outlook in some markets. The maker of Imperial Leather and Carex soaps said it saw profitable growth in all its key regions of Europe, [...]
New retail boss hired for Habitat July 27, 2010 HABITAT has hired Gary Waldron – a former executive at Fat Face – as its retail director. The furniture and homeware chain is in the middle of a huge shake-up. The restructuring specialist Hilco bought Habitat in December from its former owner, ICAF, in a deal that involved writing off debts. Under the agreement there [...]
PureCircle figures not so sweet as shares plummet July 27, 2010 Shares in sweetener maker PureCircle plunged 17.3 per cent to 230p yesterday after it warned full-year profitability will be below levels seen in 2009. The group, which supplies sweeteners to soft drinks giants including Coca-Cola and Pepsi, said profit has been held back by the fact the group is running under capacity. Full-year 2010 profits [...]
ANALYST VIEWS: CAN HALFORDS BOUNCE BACK FROM THESE POOR RESULTS? July 27, 2010 NICK BUBB | ARDEN The key thing is that Halfords has re-iterated its full-year view of good, mid-teens earnings growth, given good cost control and the benefit of the recent Nationwide Autocentre acquisition, which continues to integrate well. We therefore hold our full-year profit forecast of £136m, a tad ahead of consensus. MARK PHOTIADES | [...]
Ofcom slams broadband speed claims July 27, 2010 OFCOM yesterday confirmed what most people with a broadband connection already know – that you don’t always get the connection speed you pay for. Extensive research by the communications watchdog revealed that customers are often receiving broadband speeds less than half those being advertised. Ofcom yesterday unveiled a new code of practice aimed at empowering [...]
ARM sees 167pc profit spike after surge in demand for smartphones July 27, 2010 Rising demand for smartphones, netbooks and tablet computers saw chip designer ARM Holdings deliver a remarkable 167 per cent year-on-year spike in profit. The British company, whose designs are in more than 95 per cent of the world’s mobile phones, posted record pre-tax profit of £43.5m on revenue of £100m, both ahead of expectations. The [...]
Ad sales buoy Daily Mail firm July 27, 2010 Publisher Daily Mail & General Trust (DMGT) said yesterday its flagship newspaper business rebounded strongly after the advertising crisis. Underlying advertising revenues rebounded 13 per cent at its national newspaper division, led by the Daily Mail. Sales for the third quarter rose six per cent, also helped by subscriptions to its publications maintaining pace. Advertising [...]
iPhone users can alter software July 27, 2010 The US copyright office has given legal protection for people who unlock smartphones like Apple’s iPhone. Changing operators’ fixed phone settings – known as “jailbreaking” – has become widely popular around the world since the 2007 introduction of the iPhone. The move by the copyright office to give exemptions to the Digital Millennium Copyright Act [...]
