Vodafone is a big gainer on revenue rise February 4, 2010 VODAFONE’S sales jumped 10 per cent in the final quarter of last year, causing its shares to soar to the top of the FTSE 100 gainers list yesterday. Group revenue rose to £11.5bn – up from £10.47bn the year before. UK revenue was down by 4.9 per cent, compared to the 5.7 per cent decline [...]
Italian reservist Colao must hold his nerve February 4, 2010 VODAFONE boss Vittorio Colao is a renowned cost cutter, but yesterday’s results were all about the top line. The world’s largest mobile operator by revenues has to prove that it is still a high-growth company and not a dependable utility. For that reason, investors will be relieved that the group booked revenues of £11.5bn, up [...]
Yell steadies the ship but its revenues continue to decline February 4, 2010 PUBLISHING group Yell saw signs of stability in the third quarter as the rate of revenue decline slowed. The FTSE 250-group reported a 13 per cent drop in revenue at constant currency rates for the three months to December yesterday – beating the 16 per cent guidance previously given. Revenue for the first nine months [...]
Lucky Leo can star at Donny February 4, 2010 LAST weekend’s meeting at Doncaster was frozen off, so let’s hope the weather doesn’t disrupt tomorrow’s action. KALAHARI KING, runner-up in last season’s Arkle Chase, carries top weight in the feature contest, the Blue Square Handicap Chase. Ferdy Murphy’s stable star heads the field of 15 in the £70,000 contest and will take some stopping [...]
ANALYST VIEWS: IS PUBLISHER YELL GOING IN THE RIGHT DIRECTION ? February 4, 2010 SAM HART| CHARLES STANLEY Although the company is being upbeat, the outlook is not good for Yell. The company has major structural issues and the move from print to online operations is a headache. Shares did rise after the statement but sales are down in the UK and elsewhere – there are more problems ahead. [...]
Insurer Aviva is hit by poor life revenues February 4, 2010 Insurer Aviva yesterday reported weaker 2009 life sales, held back by tough economic conditions in the UK, and said its general insurance arm had been hit by hefty bad weather claims in the final quarter. Aviva had total 2009 life and pensions sales of £32bn, down 12 per cent from £36.24bn the previous year, the [...]
Liontrust slides on outflows February 4, 2010 LIONTRUST Asset Management yesterday announced it suffered £131m net outflows in the fourth quarter as it prepares to launch a range of new products and streamline its business. The investment house’s shares fell 0.9 per cent to 115p after it revealed assets under management dropped to £1.18bn over the three months to December. One institutional [...]
Postive England setup should trouble Welsh February 4, 2010 ENGLAND Vs WALES UNDERACHIEVING England coach Martin Johnson has thrown down the gauntlet. By picking a positive starting XV – which notably includes Mathew Tait at outside centre – they are sending a message not just to Wales, their opponents at Twickenham tomorrow, but also to the other members of the Six Nations. Sale Shark [...]
Morgan Stanley lands Goldman veteran to help lead equity trading in New York February 4, 2010 Morgan Stanley has hired a 30-year Goldman Sachs veteran to help lead the firm’s equity-trading business, the latest in a series of moves designed to bolster the firm’s sales and trading operations. Anthony Lauto – who left Goldman in 2007 – will join Morgan Stanley’s New York office as a managing director. Morgan Stanley — [...]
GMAC knocked by toxic mortgage writedowns February 4, 2010 GMAC Financial Services, which is majority-owned by the US government, said yesterday it swung to a $5bn (£3.2bn) loss in the fourth quarter after writing down bad mortgage assets. That compares with a net profit of $7.5bn in the fourth quarter of 2008. GMAC said in December it did not expect to record more major [...]
