Interserve targets new markets drive February 29, 2012 OUTSOURCING giant Interserve said new markets and growing support services work would balance another weak year in its construction division. The company, whose services range from cleaning Sainsbury’s supermarkets to building shopping centres in the Middle East, posted a 4.6 per cent rise in 2011 underlying pre-tax profits to £72.8m, meeting analysts’ expectations. The FTSE [...]
Interserve targets new markets drive February 29, 2012 OUTSOURCING giant Interserve said new markets and growing support services work would balance another weak year in its construction division. The company, whose services range from cleaning Sainsbury’s supermarkets to building shopping centres in the Middle East, posted a 4.6 per cent rise in 2011 underlying pre-tax profits to £72.8m, meeting analysts’ expectations. The FTSE [...]
HERON’S PEAK SIGNS UP TWO NEW TENANTS January 22, 2012 PROPERTY tycoon Gerald Ronson’s Heron International has leased the first and third floor of its Peak office development in Victoria to Reed Executive, the recruitment firm and David Sainsbury’s Gatsby Charitable Foundation, for £65 per square foot.
Retail gloom takes toll on British Land February 9, 2012 BRITISH LAND has seen growth of its net asset value stall in the third quarter as the ongoing consumer downturn led to a slight dip in value across its retail portfolio. The landlord – whose tenants include Tesco, Sainsbury’s and Debenhams – said its retail estate, which accounts for 61 per cent of its property [...]
Chief executives earn trust with honest answers March 12, 2012 WHEN Vincent de Rivaz, chief executive of EDF, recently gave an interview, he knew that trust in energy companies was at an all-time low. The interview was the perfect opportunity to start rebuilding it. So he mentioned “trust” – 61 times in fact – and little else. Unsurprisingly he was pilloried. EDF will wrongly blame [...]
Sainsbury’s sales rise but fuel costs bite June 15, 2011 UK SHOPPERS are spending £10 per week less on food now than two years ago because of the cost of petrol, Sainsbury’s chief executive Justin King (pictured) warned yesterday, as the supermarket said sales rose 0.9 per cent in the past quarter. Sales excluding petrol but including VAT rose 1.9 per cent, while sales ex-VAT [...]
ANALYST VIEWS: IS THERE ANYTHING TO FEAR IN SAINSBURY’S RESULTS? June 15, 2011 CLIVE BLACK | SHORE CAPITAL Its recent de-rating was broadly justified as its outperformance against the pack had ended. But performance convergence at a time of material capital investment must be a growing cause for concern. It needs a stronger momentum if margins are to build and returns grow to justify its capital expenditure. DAVE [...]
CITY MOVES | WHO’S SWITCHING JOBS February 27, 2012 Berwin Leighton Paisner BLP has hired Linklaters’ former global corporate head David Barnes to its City corporate team. Barnes will join next month as a partner in the firm’s London corporate group after retiring from Linklaters last summer. Barnes left the magic circle firm after standing as one of five candidates for the senior partner [...]
Sainsbury’s car insurance tie-up June 5, 2011 SAINSBURY’S Finance is planning to launch a new reward scheme for shoppers, aimed at tapping the car insurance market. The scheme, underwritten by RBS Insurance, will see Sainsbury’s Nectar card users receive a discount of up to 15 per cent on car insurance premiums. Shoppers will also get double loyalty points on purchases in-store for [...]
FTSE pulled down by poor showing from energy stocks March 15, 2012 Britain’s leading share index slipped yesterday, weighed down by weakness in heavyweight energy stocks after recent gains, with investors also looking ahead to futures and options expiries. At the close, the FTSE 100 index was down 4.71 points or 0.1 per cent at 5,940.72, having shed 0.2 per cent in the previous session following five [...]