Next bucks the gloom and sets sights on China July 30, 2012 NEXT is to launch its website in Chinese this autumn as Britain’s second largest clothes retailer steps up its expansion overseas. The company will update the market on its online growth plans alongside its half-year results on Wednesday, with its catalogue and online Directory business again expected to have offset a fall in sales at [...]
High street’s unlikely innovator July 30, 2012 ONCE again it looks like Next will buck the depressing high street trend on Wednesday, as analysts predict a much more rosy set of results from the retailer than we’ve seen from its rivals. The chain’s garish bling-trimmed kit for Team GB may not have been a resounding success, but when it comes to business [...]
ANALYST VIEWS | WHAT DID YOU MAKE OF BSKYB’S FULL YEAR RESULTS? July 26, 2012 PAUL RICHARDS NUMIS SECURITIES Another solid operational performance given the challenging macro backdrop, combined with a robust financial performance. Churn is the standout operational number at 9.9 per cent and we expect a similar performance in 2013 retaining our positive stance and target price of 815p. PATRICK YAU PEEL HUNT This is a solid full-year [...]
Wealthy clients boost profits at St James’s Place July 26, 2012 WEALTH manager St James’s Place yesterday beat expectations as it announced a 20 per cent jump in first half profits to £220.5m. Analysts had thought sales would struggle as clients feared economic uncertainity in the Eurozone and kept their funds close to hand. But instead St James’s said that new business hit £353.9m in the [...]
Investec hurt by rand’s fall July 26, 2012 BANKING group Investec said yesterday it is trading in line with last year, though the falling South African rand has hampered its progress. The firm said its operations in South Africa were doing well on a constant currency basis – but the 17 per cent fall of the rand over the last year has impacted [...]
Hannon’s Maureen to bounce back from unlucky Newmarket run July 26, 2012 IT’S a relatively quiet weekend on the racing front as everyone eagerly awaits Frankel’s next start in Wednesday’s QIPCO Sussex Stakes. However, there is still some decent action and the main tip is Richard Hannon’s MAUREEN in tomorrow’s Princess Margaret Stakes at Ascot (3.25pm). The daughter of Holy Roman Emperor was an unlucky loser in [...]
ANALYST VIEWS | WHAT IS THE LONG-TERM OUTLOOK FOR ARM? July 25, 2012 JULIAN YATES INVESTEC We continue to see Arm as a standout tech holding, and see licence growth in recent years catalysing royalty upgrades from next year. Despite the negative stockmarket trends, we see material long term value in Arm. Buy. GARETH EVANS CANACCORD GENUITY Investors struggle to balance the extraordinary long-term potential against a difficult [...]
ANALYST VIEWS | DID IMPERIAL’S RESULTS PROVIDE SHAREHOLDERS WITH A QUICK HIT? July 24, 2012 MARTIN DEBOO INVESTEC The third quarter has come in below our expectations with an implied volume decline in the quarter of around one per cent. We are disappointed: there should have been decent share momentum out of the second quarter, and the third quarter presented the weakest volume comparative of the year. JONATHAN JACKSON KILLIK [...]
CITY MOVES WHO’S SWITCHING JOBS July 22, 2012 Avocet Mining David Cather has been appointed chief executive of the West Africa-focused gold mining and exploration firm. He joined the board as chief operating officer in May 2012 from European Goldfields, where he was also chief operating officer, and replaces Brett Richards. Cather has previously held senior positions at Anglo American and De Beers. [...]
ANALYST VIEWS | HOW SHOULD INVESTORS TAKE HALFORDS’ RESULTS? July 19, 2012 DAVID JEARY INVESTEC [This year] looks set to be tough, and clearly a change of CEO adds an element of uncertainty to the business. However, strategy is unchanged, cash generation remains strong, supporting our unchanged dividend forecast. AURELIE CASPAR BANK OF AMERICA MERRILL LYNCH We think the shares should react positively to newsflow today as [...]