Economic indicators slip in the US May 19, 2011 The index of US leading indicators, which gauges the economic outlook three to six months ahead, fell 0.3 per cent in April, from an upwardly revised 0.7 per cent gain in March. The result “indicates perhaps some moderation but not, in our view, a significant slowdown”, according to Nicholas Tenev of Barclays Capital.
Boom in Asia drives profit at SABMiller May 19, 2011 STRONG growth in the emerging markets of Africa, Asia and Latin America helped brewing giant SABMiller beat forecasts with a 19 per cent rise in annual earnings while Europe and North America proved tougher. The world’s second-largest brewer and maker of Miller Lite, Peroni and Grolsch said trading in its emerging markets, which provide over [...]
Booker cashes in as shoppers look for cheap deals in grim consumer climate May 19, 2011 BRITAIN’S biggest cash and carry wholesaler Booker yesterday said it was benefiting from consumers’ “search for value” as it beat forecasts with a 25 per cent jump in annual profit. The firm, which runs around 172 branches supplying convenience stores, restaurants, pubs, schools and prisons, made a pre-tax profit of £71.4m. Chief executive Charles Wilson, [...]
Dairy Crest performance up thanks to Country Life May 19, 2011 DAIRY Crest yesterday said that market-beating performances by brands including Cathedral City cheese and Country Life butter helped profits rise five per cent. The dairy giant reported a seven per cent rise in sales for its five key brands, while the volume of milk sold to major retailers jumped nine per cent after a new [...]
Marston’s toasts first-half as pub grub boosts revenues despite tough market May 19, 2011 A SERIES of cheap food offers at pub group and brewer Marston’s helped it overcome a challenging market and notch up a five per cent increase in profits. The company made an underlying pre-tax profit before one-offs of £29.2m in the six months to 2 April. Group revenue was up 2.8 per cent at £317.9m. [...]
Brick sizes up expansion May 19, 2011 MOSS Bros chief executive Brian Brick is a made to measure retailer, always eyeing how his wares can be better presented or the product line tweaked. Visiting his new three-in-one Moss store, with hire, retail, and specialist bespoke under one roof in Canary Wharf, he breezes around extolling the virtues of a well cut suit [...]
Moss Bros sales jump as debt cleared by Boss sale May 19, 2011 SUIT specialist Moss Bros said yesterday that like-for-like sales were 8.2 per cent higher for the 15 weeks to 14 May. Like-for-like gross profit strengthened during the period and was 9.8 per cent ahead of last year, the company said. The disposal of the Hugo Boss franchise stores for £16.5m has helped the company become [...]
RICHEMONT’S GROWTH FUELLED BY CHINA WATCH BOOST May 19, 2011 CARTIER watchmaker Richemont posted record sales and profits for its jewellery and watch brands in the year to April. Sales rose a third to €6.9bn (£6.1bn), while pre-tax profit was 79 per cent higher at €1bn. The numbers were boosted by Net-A-Porter, the online fashion business it bought in April last year, which contributed sales [...]
Pirates series hits the rocks May 19, 2011 FILM REVIEWS PIRATES OF THE CARIBBEAN: ON STRANGER TIDES Cert: 12A IN the fourth episode of Disney’s adventure franchise everybody is searching for the Fountain of Youth. But it’s the series itself that feels long in the tooth, groaning under the weight of its pointlessly prolonged existence – pointless, that is, unless you’re a Disney [...]
Chelsea in bloom as Flower Show lands May 19, 2011 ALL those months of composting are coming to fruition as the RHS Chelsea Flower Show arrives. From Tuesday the area will be in full bloom with the world’s finest gardening talent on display. City A.M. rounded up six of the show’s hotly-tipped highlights. AUSTRALIA GARDEN This marks the debut for the Royal Botanic Gardens Melbourne [...]
