Double glazing firm Safestyle UK eyes up funding window on Aim November 27, 2013 WINDOWS and doors company Safestyle UK yesterday said it is planning a £77m flotation on Aim next month. The firm – which manufactures, sells and installs doors and windows – is expected to launch its public offering on 11 December via a £70m share placement, giving it an initial market capitalisation of £77m. Safestyle, founded [...]
Britvic posts strong growth but sees challenges ahead in 2014 November 26, 2013 Soft drinks producer Britvic has posted strong growth for the year ended 29 September 2013. The maker of Tango and White's Lemonade saw revenue climb by 4.4 per cent to £1.3bn and brand contribution growth across all business units. Net profit rose by eight per cent to £108m while the company reduced its debt by [...]
Royal mail failing to meet targets says Ofcom November 22, 2013 The Office of Communications (Ofcom), has warned recently-privatised Royal Mail that it must meet its delivery requirements if it is to avoid fines. Royal Mail failed to achieve its requirement of 93 per cent delivery of first class letters the day after the they are posted, instead reaching 91.7 per cent. The figures were revealed [...]
Bonmarché rises on AIM debut November 20, 2013 OVER-FIFTIES clothing chain Bonmarché kicked off its first day of trading yesterday on London’s junior market after an initial public offering that raised £40m. Shares closed up at 220.5p last night, above the original offer price set last week of 200p a share and valuing the retailer at £110m. Some analysts have criticised the company [...]
JC Penney sees losses widen but expects strong Christmas sales November 20, 2013 STRUGGLING retailer JC Penney yesterday said it was encouraged by business so far in November and forecast higher comparable store sales in the current holiday quarter. For the fiscal third quarter, ended 2 November Penney reported a net loss of $489m (£302m), or $1.94 per share, compared with a net loss of $123m, or 56 [...]
Royal Mail rival lands 63 per cent profit increase November 20, 2013 UK Mail group has reported 63 per cent increase in half year pre-tax profits. The private postal company reported profit before tax of £11.9m and post tax profit of £9.3m. The improving economy and rises in parcel revenue were major factors contributing to the company's bumper profits. Group revenues reached £243.4m compared with £225.7m, in [...]
Walmart offers $98 flat-screen TV in bid to lure holiday shoppers November 19, 2013 As competition heats up in the US retail sector in the run up to the holidays, Walmart is seeking to entice shoppers with a 32-inch flat-screen TV for only $98 (£61). The world's second largest corporation has also promised to match its competitors' best Black Friday deals a week early. Duncan Mac Naughton, chief merchandising [...]
Enterprise Inns founder and boss Ted Tuppen to retire November 19, 2013 Ted Tuppen, the founder of Enterprise Inns, is to retire as chief executive officer (CEO) at the end of February 2014. Company shares have climbed over six per cent this morning. (Release) Enterprise Inns is the largest pub owner in the UK, with 5,500 properties valued at £4bn, and Tuppen has been CEO for more [...]
Mortgage sizes boosted as Help to Buy kicks off November 18, 2013 THE SIZE of the average mortgage swelled in October, reaching the highest level against house prices since January 2009, according to figures released by Mortgage Advice Bureau (MAB) today. In the month that the second phase of the government’s Help to Buy scheme of mortgage guarantees began, MAB says that the average loan-to-value (LTV) rate [...]
The law firm boss leaving the City for a homecoming November 17, 2013 After nine years at Freshfields, Ted Burke tells Elizabeth Fournier why he’s going in-house IF strong law firms are built on their client relationships, then Freshfields Bruckhaus Deringer must have some very solid foundations. In one of the longest-standing and enduring client-law firm relationships on record, Freshfields can trace its origins all the way back [...]