Wetherspoon in revenue rise July 13, 2011 JD WETHERSPOON reported higher fourth-quarter sales and said an encouraging performance from its recently opened pubs should help it achieve a reasonable full-year outcome, despite rising costs and weaker consumer confidence. The pub company said its like-for-like sales for the 11 weeks to 10 July were 1.6 per cent up, with year to date sales [...]
Wetherspoon sales edge up July 13, 2011 Pubs firm JD Wetherspoon reported higher fourth-quarter sales and said an encouraging performance from its recently opened pubs should help it achieve a reasonable full-year outcome, despite rising costs and weaker consumer confidence. Wetherspoon on Wednesday said its like-for-like sales for the 11 weeks to 10 July were 1.6 per cent up, with year to [...]
Chipmaker fails to cash in on iPad boom June 27, 2011 WOLFSON Microelectronics is the government’s idea of a perfect British business. It is a manufacturer; it is high-tech; it is based in Scotland; and it was spun out of the University of Edinburgh. A business in the regions that actually makes stuff, all the while demonstrating the success of Britain’s education system. A great photo [...]
Dixons sales drop but says recovery plan on track June 23, 2011 Electricals retailer Dixons said today its recovery plan was on track despite a full year sales drop. Total Underlying Group sales were down two per cent to £8.154bn compared to £8.32bn in the previous year Total Group sales, including those from businesses to be closed and closed businesses, were £8.341bn (2009/10 £8.532bn). Group like for [...]
ANALYST OF THE YEAR June 22, 2011 IT TAKES strong-minded individuals with deep knowledge of the sectors they cover to make calls that challenge popular thinking, but the five thinkers on CITY A.M.’s shortlist for Analyst of the Year have won respect for going against the grain – whether being sane on the Glencore IPO or criticising the Bank of England’s interest [...]
SIR TERRY LEAHY BUYS BRITISH AGAIN June 19, 2011 FORMER Tesco boss Sir Terry Leahy has backed a small British technology start up. Sir Terry, who ploughed £2m of his personal wealth into software start up MetaPack last week, has now led a £1.5m cash raising for mobile coupon firm Eagle Eye Solutions. He and two top-ranked City retail analysts, Bill Currie and Iain [...]
Investors ignore growth abroad to focus on UK woes June 14, 2011 MAYBE Tesco should move its primary listing to Hong Kong. Then investors might pay more attention to Asia, where sales grew by 11.4 per cent at constant exchange rates in the first quarter. The region accounted for around 17 per cent of sales and trading profit last year, a figure that will only grow. Or [...]
PADDY POWER BLOWS £11K DERBY WINNINGS OVER THREE-DAY STAG June 5, 2011 THE QUEEN was not amused by her loss at the Investec Derby, for which City A.M. proudly served as the official newspaper. But Paddy Power, the public face of the bookmaker of the same name, was still celebrating on Sunday afternoon after winning £11,000 the previous day. Power told his wife Jane he would make [...]
Dixons to get £59m as part of lease deal June 1, 2011 ELECTRICALS retailer Dixons has agreed the sale and leaseback of its Nordic distribution centre in Sweden in a bid to reduce its debts. Dixons, which owns the Currys and PC World brands, has exchanged contracts with a syndicate of investors with a deal due for completion on 23 June. The total cash payable is SEK600m [...]
CITY MOVES | WHO’S SWITCHING JOBS May 24, 2011 May Gurney Margaret Ford, Baroness Ford of Cunninghame, will become non-executive chairman at the company’s AGM on 7 July 2011. In the interim she will be appointed to the board as a non-executive director, with immediate effect. Gurney, 53, recently retired from Serco as senior independent director and has extensive public company experience, including Grainger [...]