Kingfisher hopes efficiency savings will recover ground February 22, 2013 KINGFISHER is looking to further efficiency savings to offset a worse than expected sales fall and allow it to meet full-year profit forecasts. The group, which owns B&Q in the UK as well as Castorama and Brico Depot in France, has been hit along with other European retailers by a weak demand for “big ticket” [...]
Premier Foods posts a profit February 22, 2013 AMY-JO CROWLEY PREMIER Foods, the owner of Mr Kipling and Hovis, swung to a full-year profit yesterday after a turbulent 12 months. Pre-tax profits at the food firm, whose new chief executive Gavin Darby has been working to turn its business around, jumped to £4.4m from a £259.1m loss a year earlier. Excluding disposals, underlying [...]
Sports Direct’s profits continue winning streak February 22, 2013 SPORTS DIRECT has shrugged-off any signs of gloom on the high street after posting a 23 per cent rise in third quarter profit yesterday. The sports retailer, controlled by Newcastle United owner Mike Ashley, said group sales for the 13 weeks to 27 January rose 21 per cent to £589.5m, driven by strong growth in [...]
Analyst Views | Did Sports direct’s results meet your expectations? February 22, 2013 FREDDIE GEORGE | CANTOR FITZGERALD The company continues to benefit from recent acquisitions, strong momentum with the internet and capacity coming out of the market. The stock, however, is expensive … but with newsflow on sales expected to remain positive, we believe the shares will continue to perform. PHILIP DORGAN | PANMURE GORDON Sports Direct [...]
Lego builds its market share as sales soar February 22, 2013 LEGO yesterday proved that old-fashioned toys can beat computer games, as the Danish toymaker posted a surge in annual sales and picked up global market share. The firm’s net profit for 2012 rose 35 per cent to 5.6bn krone (£650.6m), on revenues 25 per cent higher at 23.4bn krone. The Lego Friends range, which was [...]
Cameron backs plan to simplify energy tariffs February 22, 2013 DAVID Cameron yesterday said it was time to put “people before profits” as he backed proposals by regulator Ofgem to force suppliers to offer customers their lowest variable rate deal for electricity and gas by default. From next winter suppliers will only be allowed to offer four core tariffs per fuel type. One of the [...]
HMRC names and shames tax dodgers in fresh clampdown February 22, 2013 A HAIRDRESSER, a grocer and a knitwear manufacturer were among the nine individuals and firms named and shamed as so-called deliberate tax defaulters yesterday in the first list of its kind published by HM Revenue & Customs (HMRC). HMRC said the nine “deliberate defaulters” – for whom it revealed names, addresses and the total amount [...]
Chipmaker CSR boosted by rise in Bluetooth headset demand February 22, 2013 STRONGER than ever demand for Bluetooth headsets drove shares in microchip maker CSR to two-year highs yesterday. The Cambridge-based technology firm saw annual revenues break the billion dollar mark, hitting $1.03bn (£675m), a 21 per cent increase on the previous year. The company, which sees a big opportunity in the rise of internet connected everyday [...]
PayPal card reader for retailers February 22, 2013 Online payments company PayPal is set to expand its presence on the high street with the launch of a Chip & Pin card reader it says will make face-to-face payments easier. PayPal, which started off in the 1990s processing eBay payments, will release a portable card reader directed at small businesses and independent sellers. The [...]
Informa’s annual revenues fall February 22, 2013 Lloyd’s List publisher Informa yesterday reported a three per cent decline in annual revenues in 2012 as its business publishing unit struggled to attract sales. However, its academic publishing unit, mainly comprised of Routledge, saw a rise in sales. The sales fall meant pre-tax profits dropped by a quarter to £67m. However, the group hiked [...]
