SABMiller loses its fizz in crucial growth markets October 18, 2012 LAGER giant SABMiller’s progress in key emerging markets has slowed in recent months, taking the shine off strong growth in Europe, the company said yesterday. The Peroni and Grolsch maker said the amount of beer it has sold rose four per cent year-on-year in the company’s last six months. However, more significant was that lager [...]
Bumi will reinforce the need for better governance October 18, 2012 While London continues to struggle to create an attractive environment for companies in search of fresh equity, the last thing it needs is a daily diet of allegations and counter-allegations about a deal, lauded as a triumph by banks such as JP Morgan, Credit Suisse and Evolution (before its sale to Investec) only two and [...]
Analyst Views | Has Sabmiller’s update made a difference to your recommendation? October 18, 2012 PHIL CARROLL SHORE CAPITAL Whilst Europe volumes appear strong, we note the mention of growth in the economy segment, increased promotional spend and resetting of price points, which to us, means the mix is negative and therefore margins will be lower. We downgrade from ‘buy’ to ‘hold’. DIRK VAN VLAANDEREN JEFFERIES While the company is [...]
Olympic effect weighs heavy on Ladbrokes October 18, 2012 THE OLYMPICS resulted in less money being wagered at high street betting shops, Ladbrokes said yesterday, as more people stayed at home to watch the coverage of the Games. The company said amounts spent in its betting shops fell 4.9 per cent in the three months to October on the same period last year, a dip [...]
Nokia posts £787m loss as sales falter ahead of crucial period October 18, 2012 SALES of Nokia’s flagship smartphones failed to impress over the summer ahead of the launch of the crucial next generation of models, although figures released by the Finnish firm yesterday showed that cheaper models performed well. Nokia posted a loss of €969m (£787m) in the three months to October, its sixth successive quarterly deficit, although [...]
Ofcom launches probe into bill hikes from mobile phone firms October 18, 2012 THE BROADCASTING regulator is investigating mobile phone companies over price hikes, after concerns surfaced about networks raising bills mid-contract without notifying customers. Ofcom said yesterday that a review into the fairness of contract terms “identified a number of issues with the effectiveness of the current rules with which communications providers have to comply”. Under current rules, [...]
Apple loses UK court battle on claims Samsung copied iPad October 18, 2012 APPLE failed yesterday to overturn a UK court judgement ruling that Samsung’s Galaxy Tab had not copied the iPad and ordering the Californian firm to run newspaper adverts saying so. The Court of Appeal upheld the High Court’s July verdict that Samsung did not infringe on Apple’s intellectual property, in part because Samsung’s device was [...]
Newsweek ditches print edition October 18, 2012 Newsweek, the prominent US weekly magazine, announced yesterday it will end its print edition early next year in favour of digital content. Editor Tina Brown said the 80-year-old publication, which merged with news website The Daily Beast last year was switching due to “challenging economics”. Brown predicted both editorial and business job losses but did [...]
Mecom continues to suffer October 18, 2012 European newspaper publisher Mecom said yesterday revenue in the last three months had dropped 10 per cent on the same period last year. The London-listed company, which is going through a period of transition as chief executive Tom Toumazis leaves, continues to make a loss and is undergoing a strategic review of the business ahead [...]
UBM profits rise on strong growth October 18, 2012 Media and marketing services company UBM said adjusted operating profit rose 11 per cent so far this year on strong growth in its events business, and reiterated its forecast for the full year. UBM, which organises exhibitions, trade shows and conferences, said adjusted operating profit for the nine months ended 30 September rose to £141.7m [...]
