Home Retail Group says profit to dive by a quarter September 9, 2010 Home Retail Group forecast a 20-25 per cent reduction in first-half profit, with sales at its Argos stores continuing to fall as low income shoppers cut back on spending. The firm, which also owns the Homebase DIY business, said it expected to make a year to the end of February 2011 underlying pre-tax profit of [...]
BSkyB profit jumps thanks to HD customers July 29, 2010 SATELLITE TV group BSkyB has reported a sharp jump in annual profits, fuelled by customers siging up for high definition (HD) services. Profit for the year to the end of June wass £878m, That was almost treble the £259m the broadcaster made in the previous 12 months. Revenue jumped to £5.9bn, up more than ten [...]
BHP Billiton and Rio Tinto ditch joint venture October 18, 2010 BHP Billiton and Rio Tinto scrapped their proposed $116bn (£72.6bn) iron-ore joint venture as expected, caving in to opposition from regulators, steelmakers and major investors 16 months after unveiling the plan. The collapse of the deal marks top global miner BHP’s second failed attempt to grab a piece of Rio Tinto’s superior iron ore assets [...]
Rok pre-tax profit dives by 50pc August 17, 2010 BUILDING repairs and maintenance firm Rok said first-half pre-tax profit was down 50 per cent, after it warned last week earnings would be hit by accounting problems and suspended its chief financial officer. Rok, which on August said on 11 August it found “serious failings” in its plumbing, heating and electrical (PHE) business, said revenues [...]
Hargreaves Lansdown sees profit surge in record year September 1, 2010 BROKER Hargreaves Lansdown has seen pre-tax profit up 18 per cent while assets under management also surged. The company’s figures, covering the year to the end of June, showed growth in every category as it emerged strongly from the recession. Pre-tax profit was £86.3m while total assets under administration rose by 47 per cent to [...]
Hargreaves Lansdown sees profit surge in record year September 1, 2010 BROKER Hargreaves Lansdown has seen pre-tax profit up 18 per cent while assets under management also surged. The company’s figures, covering the year to the end of June, showed growth in every category as it emerged strongly from the recession. Pre-tax profit was £86.3m while total assets under administration rose by 47 per cent to [...]
BEST OF THE BROKERS August 16, 2010 SPORTS DIRECT Numis retains its “add” rating on sports retailer Sports Direct after a solid year, with ebitda of £160m in the year to April. But it has revised the ebitda forecast for this year down £7m to £195m due to a tougher trading environment. Nonetheless it believes the business has a strong internet sales [...]
BEST OF THE BROKERS August 16, 2010 SPORTS DIRECT Numis retains its “add” rating on sports retailer Sports Direct after a solid year, with ebitda of £160m in the year to April. But it has revised the ebitda forecast for this year down £7m to £195m due to a tougher trading environment. Nonetheless it believes the business has a strong internet sales [...]
Corporate spending set to rescue UK October 17, 2010 THANK goodness for the private sector. With the exception of parts of the property investment industry, it is now in reasonably good shape. Contrary to what many believe, this means that Wednesday’s Comprehensive Spending Review – and the all too necessary spending cuts it will detail – won’t derail the UK economy. Sure, a chunk [...]
M&B finance chief to join Rentokil March 5, 2010 THE finance director of pub group Mitchells & Butlers (M&B) is leaving to join Rentokil. Jeremy Townsend will leave to become chief financial officer of the pest control and parcel delivery goods group within six months. He took over as finance director of M&B in January 2008 M&B chief executive Adam Fowle said: “Jeremy has [...]