ANALYST VIEWS: HAS SPORTS DIRECT TURNED THE CORNER? December 16, 2010 KATHARINE WYNNE| INVESTEC We place our forecasts and our price target under review, but continue to view a valuation which is more expensive than both Next [hold] and Debenhams [buy] on a lease adjusted basis as unjustified given the continuing concerns over corporate governance and the unresolved future financing arrangements. JONATHAN PRITCHARD| ORIEL SECURITIES The [...]
Kauto to be Kempton Star again December 16, 2010 IF the weather forecast is to be believed, then tomorrow’s Ascot meeting looks highly unlikely to go ahead. However, they have been wrong before and for that reason I’ll give you a couple of horses to look out for just in case. Firstly, MILLE CHIEF looks terrific each-way value at 7/1 with Paddy Power in [...]
Sports Direct revenue rises as debt drops December 16, 2010 Sports Direct has reported an 8.3 per cent rise in revenue to £819.9m in the half-year. UK Retail revenues were up 9.9 per cent to £644.3m, in the figures which cover the period to 21 October Meanwhile international retail revenues were up 4.6 per cent to £66.5m. The group has reduced net debt by 25.1 [...]
England’s Aussie mentality makes them dangerous December 15, 2010 WEAK, lacking the stomach for a fight and content simply to lose with a smile on their faces – all insults directed at England’s cricketers before the last Ashes series. But the man who ripped into James Anderson’s personality ahead of the 2009 contest, Justin Langer, accepts there has been a sea change in the way [...]
THE TIPSTER December 13, 2010 WTI crude oil rallied some 150 points yesterday morning to highs around $89.40 on the back of relief over China not raising rates and positive demand forecasts. The technical picture is showing signs of crude topping out around this level and it may well be worth taking the short side of the market for this [...]
Ashton: Late dad inspired wonder try November 14, 2010 ENGLAND (35) vs AUSTRALIA (18) ENGLAND hero Chris Ashton has dedicated his match-winning performance against Australia to his late father Kevin, who persuaded him not to turn his back on the sport little more than a year ago. Ashton’s pair of tries – the second a 90m virtuoso effort – crowned an exhilarating 35-18 triumph [...]
Audley’s sure his blueprint for success is ready to pay November 8, 2010 AFTER an hour in the company of Audley Harrison two things become abundantly clear: This is a man who settles for nothing other than perfection and if eating were an Olympic sport, Harrison would be in with a chance of adding to the heavyweight gold he won in Sydney a decade ago. Halfway through a [...]
JJB hit with FSA fine October 29, 2010 Sportswear retailer JJB Sports has been fined £455,000 by the Financial Services Authority. JJB said the fine follows the end of an FSA probe into the company’s compliance with the regulator’s disclosure and transparency rules in the lead up to its interim results in September 2008. The 250-store JJB, which teetered on the brink of [...]
Betfair launches an online trading arm October 25, 2010 SHARE trading service LMAX opened for business yesterday, offering contracts for difference on US and European share indices, commodities and UK gilts. The platform, which is majority owned by online sports gambling firm Betfair, adopts its parent’s model as a peer-to-peer exchange rather than a traditional broker. It claims to be the first multi-asset trading [...]
At a glance: George Osborne’s first comprehensive spending review October 20, 2010 SPENDING FIGURES This fiscal year current expenditure will be £637.3bn. In 2011-12, current spending will be £651.1bn, followed by £664.5bn in 2012-13, £678.6bn in 2013-14 and then £692.7bn in 2014-15. The government will pay £43.3bn of gross government debt interest this fiscal year followed by £46.5bn in 2011-12, £52.4bn in 2012-13, £57.8bn in 2013-14 and [...]