BEST OF THE BROKERS March 13, 2011 F&C ASSET MANAGEMENT Deutsche Bank has downgraded the asset manager from “hold” to “sell” with a target price of 76p. The broker sees two new risks from the firm’s results last week that are not reflected in the current share price: a decline in equity investment performance and a dispute with key client Millennium BCP. [...]
Debenhams upbeat despite tough market March 15, 2011 Debenhams said it was well placed to cope with a worsening consumer market by focussing on growing profit margins rather than chasing sales. The department store chain, which trades from 166 stores in Britain, Ireland and Denmark and about 60 franchised outlets in 23 countries, forecast first half pre-tax profit in line with a market [...]
Home Retail Group sales rally January 13, 2011 Home Retail said sales had fallen less than analysts expected at both its Argos and Homebase units in the run-up to Christmas, and forecast yearly profit in line with its own previous forecast. The company said it expected full-year pre-tax profit to be around the mid-point of its previously indicated range of £250m to £275m. [...]
Businesses back work drive January 24, 2011 A government drive to get more young people into employment through work experience has been welcomed by business groups. Firms including Homebase and McDonald’s pledged to offer placements to unemployed 18 to 21-year-olds. CBI director of employment policy Katja Hall backed the drive: “No experience is more valuable to a young person looking for a [...]
Home Retail not as bad as forecast January 13, 2011 SHARES in Home Retail Group jumped more than six per cent yesterday to hit their highest level since September, after the household goods retailer said sales had fallen less than analyst forecast. Analysts issued a slightly higher profit forecast for the full-year between £250m and £275m, following the more upbeat statement. Like-for-like sales at its [...]
Home Retail not as bad as forecast January 13, 2011 SHARES in Home Retail Group jumped more than six per cent yesterday to hit their highest level since September, after the household goods retailer said sales had fallen less than analyst forecast. Analysts issued a slightly higher profit forecast for the full-year between £250m and £275m, following the more upbeat statement. Like-for-like sales at its [...]
FTSE falls below 6,000 level as Middle East woes weigh February 22, 2011 BRITAIN’S top share index closed lower yesterday as troubles in the Middle East clouded sentiment, but bumper consumer confidence figures from the US spurred a late rally and boosted commodity stocks. The FTSE 100 closed down 18.04 points or 0.3 per cent lower at 5,996.76, having finished at a two-week closing low on Monday. “The [...]
Home Retail hit as Argos sales dented October 20, 2010 HOME Retail Group yesterday said that cash-strapped customers were abandoning its cut price retailer Argos as sales dopped. The company, which also owns Homebase, revealed that its overall profit had dropped 12 per cent to £103m in the six months to 28 August. A plunge in demand for furniture, video games and televisions contributed to [...]
Home Retail hit as shoppers cut back October 20, 2010 Home Retail posted an expected 23 per cent fall in first-half profit as cash-strapped low-income shoppers trimmed their spending. The firm, which owns Argos and DIY business Homebase, said it made an underlying pre-tax profit of £95m in the six months to 28 August. That was in line with company guidance of a 20-25 per [...]
Focus owners seek financial help or a sale October 31, 2010 THE owners of the UK’s fourth-largest DIY chain Focus are looking to investment bankers to advise on the future of the heavily debt laden business, which could lead to a sale. US based private equity firm Cerberus is taking advice from Lazard on the future of Focus, and is in talks with its banks about [...]