BEST OF THE BROKERS March 17, 2010 ASTRAZENECA Panmure reiterates its “buy” stance on AstraZeneca saying the company’s emerging markets review was comprehensive and makes Panmure more comfortable in its investment thesis. It highlights the key guidance as AstraZeneca’s assertion that it would attain some 25 per cent of its revenues from emerging markets by 2014. This calculation alone justifies a “buy” rating [...]
Morrisons in bid to expand March 11, 2010 SUPERMARKET chain WM Morrison yesterday pledged to open more smaller stores after new openings last year helped it to record a 30 per cent rise in full-year pre-tax profit. In 2009, pre-tax profits surged to £858m as turnover rose by six per cent to £15.4bn. The company, Britain’s fourth largest supermarket, raised its annual dividend [...]
Morrisons raises dividend after profits surge March 11, 2010 SUPERMARKET chain Morrisons saw a 21 per cent surge in profits last year to £767m. The company, Britain’s fourth largest grocer, raised its full year dividend 41 per cent to 8.2 pence a share on the strength of the results. Morrisons new chief executive Dalton Philips starts later this month. Former chief executive, Marc Bolland, [...]
Cracking eggs for Easter March 10, 2010 FLORAL EGG, COCOMAYA The chic Mayfair chocolate shop has come up with a rather eccentric egg, with a glittery surface decorated with a chocolate medallion embossed with the face of a Roman emperor and three little white marzipan rosettes, all nestled in a straw nest. The milk chocolate is rich and silky with a bit [...]
Rose: Cut UK deficit as soon as possible March 9, 2010 SIR Stuart Rose yesterday said the next government should cut public spending sooner rather than later, in comments that appeared to back Tory plans. And the executive chairman of Marks & Spencer said consumers were well-prepared for a period of fiscal tightening to reduce the UK’s yawning £178bn budget deficit. “Our customers, Tesco’s customers, Sainsbury’s [...]
Whitbread gets a boost from Costa Coffee’s sales rise March 4, 2010 COSTA Coffee’s sterling performance in the fourth quarter has seen sales growth at Whitbread, Britain’s biggest hotel and coffee shop operator, rise by three per cent it said in a trading update yesterday. Sales at Costa Coffee stores increased by 9.5 per cent in the quarter to February, benefiting from the launch of its new [...]
EasyJet boss is a good fit for Whitbread March 3, 2010 WHITBREAD has appointed Andy Harrison, the former easyJet boss, as its new chief executive. He will replace Alan Parker who spent six years at the head of the group, which counts Premier Inn, Beefeater and Costa Coffee among its businesses, and 18 years at the firm in total. Harrison beat other potential candidates including Carl [...]
ROSE MULLS EARLY EXIT March 3, 2010 MARKS & Spencer executive chairman Sir Stuart Rose yesterday said he was likely to leave the company before his expected departure date of July 2011 – although he has no plans for an exit this year. Rose, who will be succeeded as chief executive on 1 May by Marc Bolland, the former chief executive of [...]
M&S steps up drive for sustainability March 1, 2010 MARKS & Spencer yesterday unveiled plans to ramp up its eco-credentials by opting for more sustainable ingredients and agreeing a living wage for suppliers in its bid to become the world’s most sustainable retailer by 2015. M&S said its new plan would extend green targets introduced by the company in 2007, helping to make the [...]
M&S boss in new pressure to cut salary February 28, 2010 MARKS & Spencer’s (M&S’s) joint chief executive and chairman Sir Stuart Rose has seen renewed investor demands to reduce his pay in the latest shareholder salvo against executive pay deals. Rose, who assumed the joint title of chairman and chief executive last year, could see his £1.13m salary reduced by investors after an ongoing and [...]