BEST OF THE BROKERS February 8, 2011 SHIRE JP Morgan Cazenove (JPM) rates the pharma group “neutral” with a £16.40 price target. The broker expects revenue growth forecasts of around 12 per cent when the firm reports fourth quarter results tomorrow, along with margin expansion of around 200 basis points. For the quarter, JPM expects revenue of $910m (£565.9m) and core operating [...]
Tesco eyes Carrefour’s Asian assets September 1, 2010 TESCO is one of at least ten bidders circling for the Asian assets of French retail giant Carrefour. The Thai, Malaysian and Singaporean operations owned by Carrefour are being offloaded – offering Tesco an expansion of its Asian operation. Under its Tesco Lotus banner it is already a major player in Asia with hypermarkets in [...]
Morrisons profit up as it unveils share buyback March 10, 2011 Supermarket group Morrisons has reported a rise in annual profit and issued details o f a share buyback plan. The company announced a pre-tax profit of £874m for the 12 months to the end of January, up from the £858m it made in the same period a year ago. Like-for-like sales, excluding fuel and VAT, [...]
Tesco director Lucy Neville Rolfe joins the board of ITV September 6, 2010 TESCO’S corporate and legal affairs director Lucy Neville-Rolfe yesterday became the first woman to join the board of broadcaster ITV following Archie Norman’s arrival as chairman earlier this year. Neville-Rolfe, one of Tesco’s most senior figures, has been at the retailer for the past 13 years. Prior to that, she spent years in Whitehall, including [...]
Co-operative supermarket campaign a winner February 15, 2011 ON this page we often assess the impact that crisis or events have on brands but BrandIndex is more generally used for measuring the success or otherwise of advertising with the daily tracking allowing us to study the initial impact and also the wear-out rate. One of the more interesting campaigns this year has been [...]
Co-operative supermarket campaign a winner February 15, 2011 ON this page we often assess the impact that crisis or events have on brands but BrandIndex is more generally used for measuring the success or otherwise of advertising with the daily tracking allowing us to study the initial impact and also the wear-out rate. One of the more interesting campaigns this year has been [...]
Morgan Stanley to get Northern Rock UKFI deal February 17, 2011 UK FINANCIAL Investments, the government body in charge of managing public stakes in bailed-out institutions, is soon to appoint Morgan Stanley to advise on the sale of the Northern Rock “good bank” later this year. The sale will follow the auction of 318 RBS branches sold to Santander UK last summer for £1.65bn and is likely to attract [...]
Morgan Stanley to get Northern Rock UKFI deal February 17, 2011 UK FINANCIAL Investments, the government body in charge of managing public stakes in bailed-out institutions, is soon to appoint Morgan Stanley to advise on the sale of the Northern Rock “good bank” later this year. The sale will follow the auction of 318 RBS branches sold to Santander UK last summer for £1.65bn and is likely to attract [...]
John Lewis issues £50m retail bond March 6, 2011 THE John Lewis Partnership has issued a retail bond for its cardholders and Partners in a bid to raise £50m of funds by April. Customers who hold either the Partnership or Account cards, as well as current Partners in the employee-owned firm, can invest lump sums of between £1,000 and £10,000 into the John Lewis [...]
John Lewis issues £50m retail bond March 6, 2011 THE John Lewis Partnership has issued a retail bond for its cardholders and Partners in a bid to raise £50m of funds by April. Customers who hold either the Partnership or Account cards, as well as current Partners in the employee-owned firm, can invest lump sums of between £1,000 and £10,000 into the John Lewis [...]