McBride shares rocket on uplift October 26, 2009 McBride, Europe’s biggest maker of retailer own-brand household products, yesterday said it was trading ahead of internal expectations, boosted by foreign exchange gains and consumers switching to own-brand products. The group said it expects to increase its forecast for pre-tax profit in the year to end-June 2010 by about £6m to about £42m. The group’s [...]
When you just can’t let go of your business May 20, 2010 ALL is not well at low cost airline easyJet. Sir Stelios Haji-Ioannou, its flamboyant founder, dramatically resigned from the board last Friday after clashing with the management team over its expansion plans. In the latest instalment of the saga, Haji-Ioannou, who floated the company in 2000 and now owns 38 per cent, has issued the [...]
When you just can’t let go of your business May 20, 2010 ALL is not well at low cost airline easyJet. Sir Stelios Haji-Ioannou, its flamboyant founder, dramatically resigned from the board last Friday after clashing with the management team over its expansion plans. In the latest instalment of the saga, Haji-Ioannou, who floated the company in 2000 and now owns 38 per cent, has issued the [...]
Recession boosts McBride September 3, 2009 McBride, Europe’s biggest maker of retailer own-brand household products, posted a 34 per cent rise in annual profit yesterday as cash-strapped consumers downgrade in the downturn. The firm, which supplies supermarkets like Tesco and Carrefour with own-label goods ranging from dishwasher tablets to deodorant, said it made operating profit before one-off items and goodwill of [...]
Labour’s top brass present united front February 24, 2010 THE high command of the Labour party tried to present a united front yesterday, after Alistair Darling admitted that Number 10 had briefed against him. Gordon Brown “unleashed the forces of hell” on his chancellor back in 2008 because he predicted the world was facing the worst recession for sixty years, Darling said in a [...]
He’s seen off his own PM, but now the chancellor must beat the Tories April 14, 2010 WHEN all politicians around him are losing their heads, Alistair Darling is intent on keeping his. Having seen off an attempt to replace him with Gordon Brown’s favourite apparatchik Ed Balls – who wanted to use Labour’s final Budget to make vote-winning spending promises – the famously low-key chancellor says the new enemies of prudence [...]
BEST OF THE BROKERS December 17, 2009 CARLSBERG Evolution Securities yesterday said it did not anticipate any significant change in its numbers after Carlsberg upped its guidance for 2009 earnings from “at least DKK9bn” to “at least DKK9.3bn”. It said the brewer’s increase in beer shipments for the fourth quarter were effectively being borrowed from the first quarter of 2010. MCBRIDE Numis [...]
McBride beats City forecasts June 24, 2009 McBride, Europe’s biggest maker of retailer own-brand household products, said yesterday full-year underlying profit would beat analysts’ forecasts following a pickup in growth in the fourth quarter. The firm, which supplies supermarkets like Tesco with own-label goods, said operating profit before one-off items and goodwill would be at least £35m for the year ended 30 [...]
BEST OF THE BROKERS October 27, 2009 MCBRIDEHaving started the year with conservative margin assumptions for McBride, Investec has upgraded these in light of its strong start to full-year 2010. The broker said that the top line performance is broadly as expected, but that a better mix is driving profits ahead. Investec therefore lifted earnings per share estimates in the region of [...]
CITY MOVES Who’s switching jobs August 10, 2009 TravelodgeThe hotel chain has appointed Charlie Herbert as its new e-commerce director. Herbert has been working at the group on a consultancy basis since March. In his new role, he will sit on the executive team and report directly to UK managing director Guy Parsons. He has previously worked with a number of top consumer [...]