Shore Capital’s shares soar as revenues rise September 24, 2012 INVESTMENT bank Shore Capital reported steady profits in the first half of 2012 yesterday, with strong growth expected to continue in part thanks to its German telecoms investments. Group revenues came in at £17.8m, up 28.3 per cent on the second half of 2011, and down 12.7 per cent on the first half of last [...]
Dunelm welcomes wet weather as its profits surge 15 per cent September 13, 2012 HOMEWARES retailer Dunelm impressed yesterday with a 15.1 per cent jump in annual pre-tax profit to £96.2m, which it credited to gains in market share coupled with a wet summer. Revenues were up 12.1 per cent at £603.7m in the year to 30 June, including an £8m “weather benefit” in the final quarter. Stripping out [...]
Kingfisher slips as wet weather affects footfall September 12, 2012 DIY group Kingfisher yesterday reported a plunge in pre-tax profits for the six months to 28 July, hurt by the “uniquely awful” weather in the UK over the summer. Profit at Kingfisher, which owns Screwfix and B&Q, plummeted 15.5 per cent to £371m, down from £439m over the same period last year as seasonal product [...]
Best of the Brokers September 13, 2012 KINGFISHER Morgan Stanley rates the retailer “overweight” with a price target of 325p. Analysts have set out 10 questions for management to answer following lacklustre interim results, including why B&Q’s profitability has fallen and whether Screwfix could expand into new markets. Morgan Stanley also flags up the prospect of a long-term buyback strategy given Kingfisher’s [...]
Co-op bank won’t be healed for at least four years August 29, 2013 Niall Booker, chief executive of the Co-operative Bank has said that the bank will take at least four years to get into decent shape. That's if the bank is able to heal at all. Booker said that the process is going to take some time, pointing at state-backed Lloyds and RBS banks were returning them [...]
Xstrata investors back Glencore megamerger November 20, 2012 THE £56bn soap opera between commodity giants Xstrata and Glencore finally came to a head yesterday as Xstrata investors approved the mining mega-merger. In a meeting lasting just over two hours, investors green-lit the merger – whose twists and turns have entertained the market since Glencore first approached Xstrata in February – and paved the [...]
BT Sport has a mountain to climb in its bid to beat BSkyB August 19, 2013 A COUPLE of friends of mine have spent most of their summer putting together what is certain to be an entertaining and enlightening show for Sky Arts called Portrait Artist of the Year. Presented by the comedian Frank Skinner, the series involves members of the public painting portraits of celebrities, including the actress Juliet Stevenson. [...]
News Corp cuts Murdoch’s 2012 bonus September 6, 2012 News Corp has cut this year’s bonuses for four top executives, including mogul Rupert Murdoch and his son James, after a phone-hacking scandal at the former British newspaper The News of the World, a regulatory filing showed. News Corp’s compensation committee said in a filing last night with the US Securities and Exchange Commission that [...]
JP Morgan Cazenove slashes target for Bumi price amid investigation into Indonesian arm September 26, 2012 ANALYSTS at JP Morgan Cazenove, which advised Bumi on its float, have downgraded their target price for the firm to 100p a share. JP Morgan said that Bumi Resources, the Indonesian arm of the business that is 29 per cent owned by London-listed Bumi, could be forced to turn to the capital markets for funding [...]
Simmonds secures second gold and more GB medals follow September 3, 2012 GREAT BRITAIN’S Ellie Simmonds yesterday won her second gold of London 2012 by setting her second world record of the Paralympic Games in the SM6 200m individual medley. Having on Saturday already defended her 400m freestyle title, the 17-year-old surpassed her score from the heats to win in three minutes, 5.39 seconds as compatriot Natalie [...]