Travis Perkins buys out Toolstation from founder January 3, 2012 THE FOUNDER of Somerset-based hardware store Toolstation netted a £24m windfall yesterday after Travis Perkins – owner of DIY chain Wickes – bought the company. Mark Goddard-Watts set up the business in 2003 after leaving rival Screwfix, which he also founded, following its takeover by B&Q owner Kingfisher. Yesterday he sold the remaining 70 per [...]
FTSE falls on grim manufacturing data December 1, 2011 Investors’ sentiment dampened in London in early trading as negative factory figures from China put the brakes on yesterday’s market rises. The gains were fuelled by central banks moving to stimulate credit. China’s factory sector shrank in November for the first time in three years in the face of weakening demand both at home and [...]
Miners peg back FTSE as investors eye Slovak vote October 11, 2011 European shares slid this morning as investors eyed a key vote in Slovakia on whether it will back the Eurozone rescue package. The FTSEurofirst 300 index of top European shares was down 0.6 per cent while London’s blue chip index also edged down as miners opened weakly. Analysts said traders were cautious ahead of the [...]
Balfour Beatty snaps up firm of office fitters in deal worth £8m August 22, 2011 INFRASTRUCTURE giant Balfour Beatty has snapped up a firm of office fitters for £8m, it said yesterday. Office Projects Group, which has worked on Balfour projects in the past, specialises in fitting out British offices. It recently completed a £4.3m fit-out at the offices of Ignis Asset Management at 150 Cheapside. Other blue-chip clients include [...]
FTSE steadied by Greek breakthrough July 21, 2011 The FTSE 100 started solidly this morning as it emerged that France and Germany had reached an agreement on a second bailout for Greece. Banks led the way as investors gained confidence in stocks recently buffeted by fears of exposure to the debt crisis which has engulfed the Eurozone. Leaders of the 16-country bloc will [...]
Wickes to buy 13 Focus shops from administrator May 17, 2011 FOCUS DIY’s administrators yesterday agreed the sale of 13 stores to Wickes Building Supplies, saving 345 jobs in the process. Ernst & Young said it was in “detailed discussions with a number of interested parties” over the sale of further stores. Focus went into administration earlier this month after being hit by the weak housing [...]
FTSE rallies on strong corporate news March 25, 2011 Strong corporate earnings data have pulled stocks back to levels prior to Japan’s earthquake and tsunami crisis today despite fresh unrest spreading in the Middle East. The FTSE 100 closed up 0.34 per cent at 5,900.76 as traders bought into undervalued stocks and positive broker notes while remaining unfazed by geopolitical issues. “The speed of [...]
Kingfisher in plan to boost global growth March 24, 2011 KINGFISHER yesterday unveiled a five-year plan to transform the business with massive growth and a campaign to breathe new life into the flagging UK DIY market. The bold blueprint was unveiled as the B&Q owner reported a 22.5 per cent rise in pre-tax profits to £670m in the year to 29 January. However total sales [...]
Kingfisher in profit boost February 17, 2011 B&Q owner Kingfisher yesterday forecast a 20 per cent rise in annual profits after strong overseas growth offset weak trading in the UK. The group said it expects adjusted pre-tax profits for the year ending last month to be at the top end of City expectations at £672m. Strong sales in countries such as Poland [...]
Ian Cheshire to join the DWP board as non-exec January 31, 2011 IAN Cheshire has been appointed as the lead non-executive member on the Department for Work and Pensions (DWP) board. The outspoken Kingfisher chief executive is no stranger to politics. He threw his weight behind a high profile campaign by the Tories to reverse a hike in National Insurance, proposed by Labour before their election defeat. [...]