Persimmon is back in black as sales rise March 2, 2010 HOUSEBUILDER Persimmon swung back into profit last year after writing up the value of its landbank by almost £75m. Pre-tax profits came in at £77.8m compared to a £780m loss in 2008 when lower property valuations took their toll as the sector was ravaged by the recession. The UK’s largest housebuilder completed 8,976 homes last [...]
Pace profits from rise of HD March 2, 2010 SET-TOP box maker Pace reported an astonishing 168 per cent rise in profit for 2009 yesterday as demand for high definition TV soared. The results make it the second biggest seller of the boxes worldwide, behind only Motorola, overtaking France’s Thomson. And chief executive Neil Gaydon says the World Cup could help drive sales even [...]
What a remarkable turnaround March 2, 2010 PACE has spent the last 28 years quietly building set top boxes for pay-TV firms. After the explosion in satellite TV in the late 1980s, it probably thought its high-growth days were behind it; at the start of the last decade, it was teetering on the edge of bankruptcy. That’s why yesterday’s results – which [...]
Informa focuses on hosting big events after weathering worst of recession March 2, 2010 MEDIA group Informa’s cost cutting measures cushioned the worst effects of the tough trading conditions it faced in the last year. The firm, which holds conference events and publishes academic material, said bookings for large exhibitions were improving after a drop in demand during the recession. Its revenue fell organically by 14 per cent in [...]
ANALYST VIEWS: HOW SIGNIFICANT IS PERSIMMON’S UPTURN? March 2, 2010 RACHAEL WARING | PANMURE GORDON “These figures are pretty good and helped by the fact that Persimmon is in a position where it can write up the value of its landbank. However, for the housebuilding market as a whole things don’t look so good, with uncertainty over the election and in the economy as a [...]
UK business confidence on the up March 2, 2010 Signs of recovery in the financial services sector helped push confidence levels higher among London businesses since the beginning of the year, according to the latest UK business confidence survey by the Institute of Chartered Accountants in England and Wales (ICAEW). The index for London rose to 28.2 over the first quarter of 2010 compared [...]
Profits plunge at John Wood March 2, 2010 British energy services company John Wood Group said yesterday that full-year pretax profit fell 31 per cent in 2009 as oil explorers cut spending, offsetting the company’s confidence on its long-term growth. Pre-tax profits fell to $264.8m (£177.2m) from $384.1m in 2008, the company said after global exploration and production spending fell 15 per cent [...]
Construction slump hits Keller March 2, 2010 Ground engineer Keller Group posted a 34 per cent fall in pre-tax profit, hurt by a shortage of contracts due to a severe downturn in global construction, and sees a challenging 2010. The company was comfortable with analysts’ forecasts of pre-tax profit between £58.6m and £69.5m for 2010, chief executive Justin Atkinson said yesterday.
KPMG survey: Employment in UK is rising March 2, 2010 THE number of people placed in permanent employment in the UK grew at its fastest pace last month since July 2007. Vacancies and salaries also increased and staff availability was at its weakest since April 2008, according to the report by KPMG and The Recruitment and Employment Confederation. Demand for staff also rose last month, [...]
Intel’s vice-president forced to take leave as suffers stroke March 2, 2010 INTEL’S executive vice-president Sean Maloney has suffered a stroke at his home and will take several months’ medical leave. The firm said the senior figure, who is also general manager of the Intel Architecture Group, is expected to make a full recovery. Analysts believe the company sees Maloney, 53, as the natural successor to 59-year-old [...]
