ANALYST VIEWS: IS THERE LIFE AFTER BART BECHT? April 20, 2011 ANDREW WOOD | BERNSTEIN Fears by some investors that the departure of Bart Becht heralded a disappointing quarter are unfounded. Growth was led by continued strong growth in the developing markets …with flat growth in Europe not being the disaster that some had feared. We are not surprised to see the stock react positively MARTIN [...]
Investec Derby Trial can go to Gosden again April 19, 2011 JOHN GOSDEN has made his customary strong start to the season and he looks to have an excellent chance of winning a third Investec Derby Trial in five years with MUSAWAMA this afternoon (3.10pm). Already a winner of his two races at Lingfield and Kempton this season, this race has always been the target for [...]
Classics blow for Dubai Prince April 18, 2011 HORSE RACING: Dubai Prince will miss the 2,000 Guineas and Investec Derby at Epsom after suffering a setback in training. A minor injury will keep the 14-1 Derby chance out of competition for the next few weeks but Godolphin racing manager Simon Crisford confirmed he will return later in the season.
ENTREPRENEURS NEWS | IN BRIEF April 17, 2011 ENTREPRENEURS SUMMIT Investec, the investment bank, is hosting a conference for entrepreneurs on 25 May. Lara Morgan, founder of Pacific Direct, LoveFilm’s Simon Calver, Luke Johnson among others will be speaking. Also, Vince Cable, the Business Secretary, will be giving a speech on the economy alongside John Cridland of the Confederation of British Industry (CBI). [...]
JD Sports negative on growth in 2011 despite sales boost April 13, 2011 JD Sports saw a jump in profit yesterday but remained downbeat about the outlook. The gloomy trading forecast overshadowed better-than-expected profit figures for the past year of £81.6m, after analysts had pencilled in £79m. Same-store sales for the year increased by 3.1 per cent, boosted by strong demand for brands such as Adidas and Nike [...]
ANALYST VIEWS: WHAT DOES THIS PROFIT WARNING MEAN FOR ALTERIAN? April 13, 2011 ALEX JARVIS | PEEL HUNT We have made provisional revisions to the current year and substantially reduced full-year 2012 and 2013 forecasts as evidently it will need to be rebased. We provisionally value the company on two times full-year 2011 revised sales, implying a 135p target price, assuming £8m net cash. GEORGE O’CONNOR | PANMURE [...]
Non-European exports cut UK trade gap April 12, 2011 EXPORTS beyond the European Union helped narrow the UK’s trade gap to £2.4bn in February, in from £3.9bn in January. The deficit in visible goods traded fell by £1bn in the month, to drop to £6.8bn – its lowest rate for a year, surprising economists. Within the EU, exports from the UK actually fell by [...]
BEST OF THE BROKERS April 12, 2011 BRITISH AMERICAN TOBACCO Jefferies has started covering the tobacco group with a “buy” rating and a target price of £31.87. The broker sees strong cash generating capacity, given the firm has one of the highest exposures to emerging markets in the sector with 66 per cent of sales coming from new regions, plus the possibility [...]
Michael Page reaps the rewards of Asia job boom April 11, 2011 RECRUITER Michael Page posted a 30 per cent jump in first-quarter gross profit, boosted by growth in the Asia-Pacific region, and said it was well placed to exceed last year’s profit. Michael Page, which finds jobs for people in the financial, accounting and legal services sectors, said yesterday its operating profit to the end of [...]
Caution ahead of US results pulls FTSE 100 to a flat close April 11, 2011 BRITAIN’S top share index closed flat yesterday, with caution from traders wary of turbulence during the US earnings season offset by strength in the banking sector following the ICB report on the future shape of UK banking. The FTSE 100 closed down 2.31 points, or 0.04 per cent, at 6,053.44 after trading in positive territory [...]