3i doubles its investments January 27, 2011 3I RAMPED up investments in the final quarter of last year to hit a total of £510m in the last nine months of 2010, the listed private equity firm said yesterday. The figure was more than double the investment made in the same period in 2009, its interim management statement said. Buyout deals made up [...]
M&B sales rise fuelled by food January 27, 2011 Pubs and restaurants group Mitchells & Butlers said it had seen strong trading over the Christmas period, boosted by food sales, but remained cautious on the outlook for consumer spending. The company, which has over 1,600 pubs and restaurants and whose chains include Harvester, All Bar One and Toby Carvery, said like-for-like sales in the [...]
FTSE left lower as investor confidence knocked January 27, 2011 The FTSE lost traction this afternoon after a credit rating cut on Japan knocked investor confidence from the market open, and poor results from fashion chain H&M saw retailers sold. The FTSE 100 closed down 0.07 per cent or 4.13 per cent at 5,965.08 with miners giving up earlier gains to allow steady asset management [...]
House prices drop in January January 27, 2011 House prices in England and Wales fell for a seventh month in a row in January, dropping 2.2 per cent from a year earlier, property data firm Hometrack said. The monthly survey of more than 5,000 estate agents and surveyors showed prices slipped 0.5 per cent on the month, slightly more than December’s 0.4 per [...]
WH Smith in margin boost January 26, 2011 WH SMITH said yesterday a drop in sales over Christmas had been offset by a rise in profit margins. Sales in the two months to 22 January dropped four per cent at the newspaper, stationery and book chain. Like-for-like sales, which strip out the effect of new store spaces, fell by seven per cent. The [...]
Profits surge at Starbucks January 26, 2011 COFFEE giant Starbucks posted a 35 per cent rise in operating income yesterday, which nevertheless fell short of analyst forecasts for the full-year as the rising cost of coffee continued to dent margins. The world’s largest coffee chain has seen wholesale coffee prices increase by nearly three-quarters since last summer – due to poor weather, [...]
WH Smith sales drop – but margins improve January 26, 2011 WH Smith said higher profit margins offset a bigger-than-expected fall in sales over Christmas, due to disruptions caused by severe winter weather. The newspaper, books and stationery group said sales at town centre stores open over a year fell seven per cent in the eight weeks to 22 January, excluding entertainment products, which it plans [...]
Hornby trains slowed by snow January 25, 2011 MODEL train maker Hornby, which also owns Scalextric and Airfix, has warned its profits will be below forecasts after sub zero temperatures hit Christmas sales. It said that the lower-than-expected sales in the festive season meant stores were unlikely to order as much fresh stock in the next few weeks. The company expects its pre-tax [...]
BA’s brand can only stand strikes for so long January 25, 2011 WITH BA cabin crew once again voting to support industrial action, we’ve had a look at the impact that the strikes have had on public perceptions of the airline, now part of International Airlines Group (IAG). Back in the autumn of 2009 BA had an impressions score in the high 20s. Then came the announcement [...]
What the other papers say this morning January 23, 2011 FINANCIAL TIMES AUDITORS SEEK TO EASE FEARS The four biggest auditors have denied that their dominance of the market for large companies had created a systemic risk akin to that posed by the leading banks. Deloitte, Ernst & Young, KPMG and PwC have told the European Commission that they are willing to help draw up [...]