Freud Communications profit soars October 8, 2010 Freud Communications bucked the recession with a 28 per cent increase in pre-tax profits to £6.7m last year. Annual accounts for the PR agency, which is majority-owned by French advertising giant Publicis Groupe, show revenues rose 23 per cent to £33 million. It is understood that significant growth at teh firm run by Matthew Freud, [...]
Morrison sluggish as hard times bite November 4, 2010 WM MORRISON supermarkets said yesterday it expected shoppers to remain under pressure into the second half of next year, as it met forecasts with a 1.3 per cent rise in third-quarter underlying sales. However, the fourth-biggest grocer played down fears of a surge in food prices, saying it did not see big inflationary pressures and [...]
Asda chief to step down as takeover rumours sweep City April 12, 2010 ANDY Bond is stepping down as chief executive of Asda in a shock move ahead of his unveiling of the company’s five-year strategy plan. Bond is stepping into a new role of chairman on the board of Asda – a subsidiary of US retail giant Walmart – the firm said yesterday. The role will start [...]
Sainsbury’s beats forecasts with sales hike October 6, 2010 J Sainsbury has posted second-quarter sales towards the top end of forecasts, as new stores, online shopping and demand for non-food lines helped it to grow share in a tough market. The group said it expected conditions to remain difficult for shoppers as the government hikes taxes and cuts spending to rein in its debts. [...]
Robert Wiseman warns on profit as price war hits September 16, 2010 Robert Wiseman Dairies yesterday said it expected stiff competition to hurt its operating profits for the second half and next year, sending the shares down by nearly a third. The company that procures, processes and delivers milk to customers across the UK forecast second-half operating profit falling by around £7m and by £16m in 2012. [...]
Robert Wiseman warns on profit as price war hits September 16, 2010 Robert Wiseman Dairies yesterday said it expected stiff competition to hurt its operating profits for the second half and next year, sending the shares down by nearly a third. The company that procures, processes and delivers milk to customers across the UK forecast second-half operating profit falling by around £7m and by £16m in 2012. [...]
Margins too tight to bear September 16, 2010 THE British dairy market is notoriously competitive, but investors were not prepared for yesterday’s shock profit warning from Robert Wiseman. Although its first-half numbers are in line, the second half is going to turn sour. Full-year profits are now forecast to be £7m lower than thought. A crushing round of price negotiations with Tesco is [...]
Asda to concentrate on smaller stores February 18, 2010 ASDA said it would expand into smaller format stores, open more non-food shops and slash costs to drive growth in tough markets after posting its lowest quarterly sales growth in about two years. Chief Executive Andy Bond said the chain, owned by U.S. group Wal-Mart Stores, became too focussed on promotions in 2009, which clouded [...]
ITEM: cuts won’t cause double-dip October 17, 2010 THE UK faces a slow economic recovery but fears of a double dip recession are overdone, one of the UK’s top forecasters will say today. The Ernst & Young Item Club – which uses the Treasury’s own economic model to make its predictions – also suggests that far from hurting the economy, Wednesday’s Comprehensive Spending [...]
Retailers go head to head with results October 3, 2010 SUPERMARKETS are set for a showdown this week as Tesco, J Sainsbury and Marks & Spencer post interim results. Smaller retailers Ted Baker, Halfords and Greggs are also due results, in a week that will indicate how the High Street has fared since the general election. Tesco is expected to post a 10 per cent [...]