Whitbread chairman Anthony Habgood to step down this year January 22, 2014 ANTHONY Habgood is to step down as chairman of Whitbread after eight years overseeing the Costa coffee owner’s rapid expansion. The FTSE 100 leisure group, which also owns Premier Inn and restaurants including Table Table, said yesterday that Habgood intends to leave later this year. Whitbread independent director Sir Ian Cheshire, who is also the [...]
JD Wetherspoon reveals rise in Christmas sales January 22, 2014 JD WETHERSPOON reported strong results over the Christmas and New Year period yesterday, the latest in a series of UK pubs to benefit from the holiday season. Like-for-like sales for the twelve weeks of the second quarter were up by 6.7 per cent and total sales by 10.6 per cent, while year to date like-for-like [...]
BHP vows higher shareholder returns as production soars January 22, 2014 BHP BILLITON’S iron ore expansion plan went full throttle in the second half of the year, with the miner posting record production from its West Australian mines and a 19 per cent rise in output. The FTSE 100-quoted miner’s West Australian operation benefited from the early delivery of first production from the Jimblebar mine, which [...]
Wetherspoons founder hits out at Labour’s pub regulation plan January 21, 2014 THE FOUNDER of the pub chain JD Wetherspoon has hit back, after a Labour minister called for tighter regulations for pub companies. Tim Martin said that although he thinks Punch Taverns and Enterprise have not treated some tenants well, tighter regulation would punish family-run companies who do a good job and try to be fair. “The [...]
Unilever surprises with a stronger end to year January 21, 2014 CONSUMER goods giant Unilever reported a better-than-expected finish to its financial year thanks to a rebound in sales in some emerging markets, sending shares higher yesterday. The company behind Lipton Tea and Dove soap surprised the market in October after issuing its first profit warning in almost a decade. It blamed an accelerated slowdown in [...]
Popular Peroni helps SABMiller in the UK as sales fall elsewhere January 21, 2014 SABMiller, the world’s second-largest brewer, yesterday fell short of forecasts with a two per cent rise in sales volumes, though UK sales were led nine per cent higher by the popularity of Peroni lager. Soft drink volumes were up seven per cent worldwide in the final three months of 2013, but were offset by a [...]
SSP lines up advisers to work on possible public offering in London January 21, 2014 SSP has reportedly hired Lazard as it looks to go public on the London market. The firm, which runs cafes and restaurants at airports and train stations, could be valued at £2bn in a stock market float, according to the Telegraph. SSP hired former WH Smith boss Kate Swann to lead the firm last summer, [...]
Growing food and booze sales give festive cheer to Marston’s January 21, 2014 MARSTON’S yesterday became the latest pub chain to report strong trading over the Christmas and New Year period, with like-for-like sales up 4.1 per cent. Food sales grew by 5.6 per cent in the 15 weeks to 18 January, the firm said, while at its more drinks-led managed pubs’ sales were up three per cent. [...]
Melrose and IMI return £1.2bn to shareholders after selling assets January 21, 2014 IT WAS a good day for investors in Melrose Industries and IMI yesterday, after both FTSE 100-quoted engineering firms said separately that they would be returning cash to shareholders. IMI – which makes valves and other equipment for controlling liquids and gas flows – is returning £620m to shareholders after it completed the sale of [...]
Vodafone and Sky in deal talks January 20, 2014 VODAFONE and Sky are holding high-level discussions on how the two companies could collaborate in order to curb BT’s growing reach in the broadband sector. The two firms have discussed options including a deal on Sky’s sports and movies channels or collaborating on a broadband service, people aware of the discussions told City AM. However [...]