BEST OF THE BROKERS September 24, 2009 HALFORDS GROUPAhead of Halfords’ second-quarter trading update on 8 October, Investec upgraded its forecasts and its target price to 435p, from 400p. The broker believes a combination of better weather and more “staycations” than last year will deliver a more robust performance than previously expected, and says “buy”. WM MORRISONJefferies International upped its target price [...]
Funds buy up UK property August 10, 2009 PROPERTY fund managers are storming back into the UK market, believing the correction has now ended and bricks and mortar assets are looking cheap. Managers believe the collapse of the property bubble has created a wealth of investment opportunities, with Henderson’s Herald fund and F&C’s Commercial Property Trust both diving back in to the UK [...]
Halfords sales lift in sunshine July 29, 2009 CAR parts and bike retailer Halfords yesterday cheered investors as good weather and the government’s Cycle2Work fitness promotion boosted sales during the quarter. The group said total sales rose 1.3 per cent during the 13 weeks to 3 July, compared to the same period a year ago, as commuters rushed to buy bikes and camping [...]
Halfords sales lift in sunshine July 29, 2009 CAR parts and bike retailer Halfords yesterday cheered investors as good weather and the government’s Cycle2Work fitness promotion boosted sales during the quarter. The group said total sales rose 1.3 per cent during the 13 weeks to 3 July, compared to the same period a year ago, as commuters rushed to buy bikes and camping [...]
Halfords gets a boost from Brits on bikes June 10, 2009 HALFORDS, the car maintenance and bicycle retailer, yesterday reported a 2.4 per cent rise in full-year profits to £92.4m as the demand for bikes and camping equipment surges in the downturn. Finance director Nick Waller said: “The demand for bikes is sustainable, people are using cycling to beat congestion, for economic reasons and increasingly to [...]
IS HALFORDS ON TRACK FOR ANOTHER IMPRESSIVE YEAR? June 10, 2009 JOHN STEVENSON KBC PEEL HUNT“Halfords announced an adjusted pre-tax profit of £92.4m, in keeping with our forecasts. Cycling and car maintenance continue to deliver healthy sales growth. While the short-term economic environment remains difficult, Halfords aims to open a further 10 stores in the second half of the year.” MANOJ LADWA ETX CAPITAL“On a day [...]
THE LONDON REPORT June 7, 2009 CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday. Today’s 17-week trading statement from JD Sports Fashion is [...]
THE LONDON REPORT June 7, 2009 CORPORATE data due out this week could help to steer the market, particularly with regards to retailer and consumer stocks, while investors in Independent News & Media will be hoping for an update on the future of the ailing publisher at its annual meeting on Wednesday. Today’s 17-week trading statement from JD Sports Fashion is [...]
Ex-Vodafone boss paid to return home June 2, 2009 VODAFONE’S former chief executive Arun Sarin was paid £500,000 to return to his native US when he left the company, according to the company’s annual report. In total, the former boss – who left Vodafone in July 2008 but remained as a consultant until February – picked up a payout of £8.1m in his final [...]
BEST OF THE BROKERS May 31, 2009 WOLSELEYDifficult trading across all business areas at Wolseley led Citigroup analysts to cut their earnings forecasts for 2009 by £67m to £293m and for 2010 from £387m to £293m. This has also led to a 26 per cent drop in estimated earnings per share for 2010. The broker has a “hold” rating on the stock, [...]