Gleacher Shacklock revenues defy collapse of giant BAE deal September 23, 2013 CORPORATE finance advice group Gleacher Shacklock is set to report strong revenues growth for 2012, it emerged yesterday. The partnership ran into trouble late last year as the $18.4bn (£11.5bn) proposed merger of defence firms BAE System and EADS fell apart. Revenues at the advisory group edged up £66,000 to £15m, according to accounts seen [...]
Bottom Line: A global web player that is best of British September 19, 2013 ANYONE who said there was no space in the internet retail revolution for British business may have to start eating their words. On the heels of Ocado’s return to form thanks to a licensing deal with Morrisons comes this startling set of numbers from Asos. They confirm the online fashion retailer’s extraordinary achievement. In little [...]
City Moves for 20 September 2013 | Who’s switching jobs September 19, 2013 Brown Rudnick The law firm has announced the appointment of Sophie McGrath as a partner in its corporate team. McGrath joins from Morrison & Foerster, where she specialised in the venture capital and private equity sectors, and was responsible for advising on traditional exit strategies. Arbuthnot Latham The private bank has recruited Richard Kay as a [...]
Business of the year September 16, 2013 There’s been some really first-rate performances from some of the nation’s kargest and best known companies this year, making choosing a winner exceptionally hard. The most surprising entrant perhaps is Ocado, since many in the City had written the internet grocer off after its share listing. Thomas Cook is in there because in 2013 it [...]
Morrisons to cut new space as it focuses online September 12, 2013 WM MORRISON joined rivals yesterday in calling an end to the space race, as it prepares for its launch online next year and invests in its convenience M Local stores amid falling sales. Chief executive Dalton Philips announced plans to limit growth to 350,000 sq ft – about half of the average rate of the [...]
Analyst Views: What was your reaction to Morrisons’ half year update? September 12, 2013 KEITH BOWMAN | HARGREAVES LANSDOWN “Morrisons has moved to reposition its strategy in line with its major rivals. With the rollout of convenience stores ongoing and its push online now supported by Ocado, management now appear to view its armoury as complete, with group capital expenditure to be reduced. JONATHAN PRITCHARD | ORIEL SECURITIES “Morrisons’ [...]
London Report: Lacklustre trade leaves FTSE 100 treading water September 12, 2013 SUPERMARKET chain Wm Morrison was among the top gainers on the UK’s FTSE 100 yesterday after posting its first-half results but the index continued to toil around the 6,600 level. Wm Morrison Supermarkets rose 1.8 per cent with traders citing dividend, outlook, and valuation attractions as a trigger for short covering after the firm’s first-half [...]
Ocado sees sales swell ahead of Morrisons partnership September 12, 2013 It's been a really good 12 weeks for Ocado with confirmation that they'll be partnering up with Morrisons from early 2014. The e-grocer has seen gross sales up 18.8 per cent on the same 12 weeks to mid-August last year, reaching £189.2m (release). Orders are also looking more healthy. Per week numbers have risen 15.3 [...]
Morrisons tops FTSE despite profit decline as supermarket remains confident of second half bounce September 12, 2013 Supermarket Morrisons has seen its pre-tax profits drop from £440m to £344m in the half year to 4 August (release). The announcement also includes a 10 per cent decline in underlying profit to £401m. We anticipate an improvement in our sales performance during the second half and accordingly the Board believes the Group's performance for [...]
Snoozebox hopes to make beds for hospitals and local authorities September 10, 2013 PORTABLE hotel company Snoozebox hopes that a move into construction sites, hospitals and temporary housing will bed down the new management’s plans for growth. The company, which started life offering beds in shipping containers during motoring events, is hunting for new business after replacing its top team in April amid “serious financial and commercial issues”. [...]