Unilever warns of slowing growth in emerging markets and little sign of recovery in North America and Europe July 25, 2013 Consumer goods company Unilever has warned that emerging markets are facing slowdown, as it posts results for the first half of 2013 (release). Growth is slowing in emerging markets, as macro-economic headwinds influence consumer behaviour. Within this overall trend we see a mixed picture across the major countries reflecting different local circumstances. Developed markets remain [...]
Best of the Brokers for 22 July 2013 July 21, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com CAPITA Shore Capital keeps its “sell” rating and 1,056p target on the outsourcer as it looks ahead to interim results this week. The broker thinks new contract flow will disappoint slightly, in spite of an expected 15 per cent rise in half-year revenues, [...]
London Report: Data suggests UK economy is in good health July 21, 2013 THE UK economy is showing improving health, according to statistics out this week that are expected to reveal growth throughout the second quarter. The economy is forecast to have grown 0.6 per cent in the second quarter, accelerating from 0.3 per cent in the first three months of the year. The Office for National Statistics [...]
Bumper year at consumer care unit helps boost Croda results February 26, 2013 SPECIALITY chemicals group Croda posted a jump in pre-tax profit over the full year, boosted by a bumper performance from its consumer care division. Pre-tax profit at Croda, which counts Procter & Gamble and Unilever among its customers, rose by 6.6 per cent to £253.2m over the 12 months, on sales 2.3 per cent higher [...]
City Moves for 26 February 2013 | Who’s switching jobs February 25, 2013 Co-operative Group The mutual business has announced the appointment of Rebecca Skitt as human resources director. Skitt has over 20 years’ experience, most recently as head of human resources in Barclays’ global retail and business banking division. She has also held senior roles at Unilever. Jones Day Karim Mahmud has joined the law firm as [...]
Buffett’s taste for beans gives deal outlook a shot in the arm February 14, 2013 IF confirmation were needed that mega-deals are back on the agenda, then the Sage of Omaha certainly provided it yesterday. Buffett’s $28bn move for Heinz is the biggest deal this year in an already booming market, with the value of transactions in the last week alone – including Liberty Global’s bid for Virgin Media and [...]
Slower growth in new markets knocks Nestle February 14, 2013 NESTLE, the world’s biggest food company, sees no respite this year from a tough trading environment after sales growth undershot rival Unilever last year as emerging markets like Asia slowed. Nestle’s 2012 underlying sales grew 5.9 per cent last year to SFr92.2bn (£64.6bn), the firm said yesterday. The figure is in line with a consensus [...]
BP veteran Byron Grote set to join board of Anglo American February 13, 2013 MINER Anglo American has appointed BP board member Byron Grote as a non-executive director. The appointment of Grote, who announced last week that he was to step down as a senior board member of BP following 33 years with the oil giant, will be proposed to shareholders at Anglo’s AGM on 19 April. He will join [...]
Hargreaves Lansdown lifts FTSE 100 February 6, 2013 The FTSE 100 pushed back over the 6,300 level this morning, as investment manager Hargreaves Lansdown topped the index, rising more than seven per cent. This morning the company reported robust growth, with revenue up almost a quarter in the six months to December and pre-tax profit up 30 per cent over the period. “Customer [...]
Unilever profits from emerging market growth January 23, 2013 ANGLO-Dutch consumer goods giant Unilever said yesterday full-year sales exceeded €50bn (£42bn) for the first time thanks to strong demand for its soaps and hair products in emerging markets. The owner of PG Tips, Persil and Cif Cleaning brands yesterday said pre-tax profit rose seven per cent in 2012 to €6.68bn on sales up 10.5 [...]