Dixons Retail narrows its full-year loss November 24, 2011 DIXONS Retail posted a better-than-expected half year loss after Europe’s second largest electrical goods retailer won market share from its rivals, helping to limit the impact of weak consumer spending. The company, which is home to the Currys and PC World chains in Britain, said it made a loss before tax of £25.3m in the [...]
ANALYST VIEWS: ARE THESE FIGURES GOOD NEWS FOR DIXONS? November 24, 2011 DAVID JEARY | INVESTEC The renewal and transformation plan has clearly been transformational for Dixons, although the parlous state of the electricals market has not allowed this to shine through strongly. We retain some concerns on the short-term trading outlook and the relative dearth of must-have products at present. PHILIP DORGAN | PANMURE GORDON Given [...]
M&S France launch sees Bostock quizzed November 24, 2011 MARKS & Spencer took its wares back to France after a decade’s absence from its soil yesterday, claiming that Parisians were yearning for its gourmet chutney and sensible knickers. The return to France is part of a new international strategy aimed at a handful of countries. Goods will be priced around 10 per cent higher [...]
British Gas pledges to simplify tariffs November 24, 2011 BRITISH Gas has said it is simplifying its tariffs after admitting customers were being baffled by the current system. All customers would be able to choose between two tariffs – variable and fixed – under the shake-up. Energy industry regulator Ofgem earlier this year told energy companies they must offer simpler billing. The British Gas [...]
Green to cut hundreds of shops as wary consumers stay home November 24, 2011 ARCADIA Group, the retailer owned by billionaire Sir Philip Green, yesterday said it planned to close up to 260 stores over the next three years after announcing a big fall in profits. The group, which owns fashion retail stores including Topshop, Miss Selfridge, and department store BHS, said it would not renew half of its [...]
Young’s toasts profits rise fuelled by £60m purchase of Geronimo Inns November 24, 2011 BREWER Young & Co said yesterday it had seen revenues rise strongly in the first half. The company said revenue was up 34 per cent to £90.5m during the six months to October. Adjusted profit before tax was up 11 per cent to £12.5m. However, including exceptional items the company posted a loss of £16m. [...]
Contracts are awarded for Crossrail plan November 24, 2011 BRITISH construction and infrastructure companies Kier, Balfour Beatty and Morgan Sindall have been awarded multi-million pound contracts for work on London’s Crossrail project. A joint venture between British contractors Balfour Beatty and Morgan Sindall, together with France’s Vinci Construction, has been awarded a £110m contract for work on Whitechapel station in east London, the companies [...]
Network Rail is on track as its debt soars November 24, 2011 RAIL infrastructure group Network Rail said its debts have jumped, though it remains on track with cost-savings and improvement works. Its debt rose to a whopping £25.7bn in the period, which the group said was “at an expected level” due to capital expenditure and the rising value of its inflation-linked bonds. Around £1.25bn of Network [...]
BATS gets go ahead to buy Chi-X Europe November 24, 2011 STOCK trading platforms Chi-X Europe and BATS Global Markets were given the final green light to merge by the competition watchdog yesterday, clearing the way for them to control a quarter of Europe’s equities volume. The UK Competition Commission rubber-stamped an earlier provisional decision and will allow the exchanges to complete a $300m (£192m) deal [...]
Highways Agency chief calls for £200m annual savings November 24, 2011 THE Highways Agency could save £200m per year by taking “a much more businesslike” approach to managing the UK’s busiest roads, its chairman said in a new report yesterday. In his independent review of the strategic road network for the department for transport, Alan Cook said the agency had become inefficient and ineffective through a [...]
