Light at the end of the tunnel for Psion as it cuts its losses March 4, 2010 TECHNOLOGY group Psion more than halved its full-year pre-tax loss as it made huge cost savings. Losses in 2009 were £3m, compared with £7.6m the year before. Sales fell 15 per cent to £170m, hurt by the impact of foreign exchange movements. However, the company’s operating margin moved from a negative in the first half [...]
Carillion sees profits surge March 3, 2010 CARILLION has recorded a 16 per cent increase in profit thanks to a strong performance from its Middle East business. The British building and support services group yesterday revealed an underlying pre-tax profit of £182.2m in 2009, beating analysts expectations of £176.9m and up from £157.5m it posted in 2008. The company has defied the [...]
British Gas beats BT in the utilities price war March 2, 2010 IT seems that British consumers are very sensitive to the details of their arrangements with their utility suppliers. This week we compare one utilities company that has benefited from this (British Gas), and one that has suffered (BT). It appears that British Gas’ announcement of a seven per cent price cut for all households has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 28, 2010 THE SUNDAYS The Sunday Telegraph NIKE BOSS MARK PARKER DEMANDS NEW RULES ON VALUING BUSINESS The global chief executive of Nike, one of the most powerful retail brands in the world, has said that companies will have to find more sophisticated ways of judging value and impact on the environment if they are to resist [...]
Troubled Virgin Media turns the corner at last February 25, 2010 VIRGIN Media is a company with a troubled past. Having posted a full-year loss of £94.4m, it obviously still bears the scars. After 25 years of pain, however, the firm is finally turning a corner. The most impressive detail in yesterday’s results was the 28,600 net subscribers the firm signed up to its cable TV [...]
Changing the private equity model for good February 24, 2010 THE shift in investors’ attitudes towards private equity has been stark, with the relationship in some cases approaching complete breakdown. It is clearly an emotive subject – as evidenced by the response to the idea that IPO failures have given private equity a bloody nose. So what alternatives are there to the traditional private equity [...]
Telecoms giants welcome cross-party findings that a phone line tax is unfair… February 23, 2010 Telecoms heavyweights have thrown their support behind select committee findings that a phone line tax would be unfair for consumers. The cross party business innovation and skills committee said yesterday the plans would tax the majority to provide super fast broadband to the few. The £6 annual tax has been expanded from its initial focus [...]
London hits one-month high led by miners and oil stocks February 18, 2010 BRITAIN’S top share index hit a one-month closing high yesterday, extending its advance into a fourth consecutive session, led by commodity stocks on firmer metals and oil prices, and with banks also in demand. The FTSE 100 index closed up 48.45 points, or 0.9 per cent, at 5,325.09, its highest close since Jan. 21, after [...]
Vodafone: Google must be reined in February 16, 2010 VODAFONE boss Vittorio Colao yesterday called on policymakers to address Google’s dominance in mobile advertising “before it is too late”. He used his keynote speech at Mobile World Congress in Barcelona to launch a thinly-veiled attack on the internet search giant, arguing that its power could hinder consumer choice. Gesturing to a slide which showed [...]
Vodafone in iPhone war with O2 February 15, 2010 VODAFONE has stepped up its rivalry with O2 to become the UK’s biggest iPhone retailer. Analysts say a new £25-a-month deal sold without a handset is aimed at O2 customers whose iPhone contracts are up. Customers can request O2 unlock their phones, meaning Vodafone can poach customers without giving away handsets. Vodafone is keen to [...]