US and Canada buoy Wolseley quarterly sales December 4, 2012 A GRADUAL recovery in the US housing market and continued growth in Canada has helped plumbing and builders merchant Wolseley offset revenue declines in Europe. The company, which generates more than half its sales in the US, said trading profit rose to £198m in the quarter to 31 October compared with £185m in the period [...]
Greene King spirits up as cash strapped diners flock to pubs December 4, 2012 GREENE King boss Rooney Anand said yesterday that his 2,298 pubs were benefiting from the effects of the economy’s troubles, with customers choosing pubs over fine dining as they tighten their belts. As the pub owner and brewer announced a 7.3 per cent rise in turnover in the first half of its financial year, Anand [...]
Greene King boosted by diners December 4, 2012 Brewer Greene King today announced strong sales growth for the 24 weeks to 14 October 2012, largely thanks to strong sales at the pubs it controls. Total revenue was £566.2m, up from £527.5m for the same period last year, leaving operating profits of £122.7m. “Our team has delivered another strong trading performance driven by 17 [...]
British retail sales pick up in November December 4, 2012 UK retail sales improved slightly in November, according to figures released today by the British Retail Consortium. Like-for-like retail sales rose by 0.4 per cent in value compared to the same month last year, after falling 0.1 percent in October. Despite this analysts had hoped for stronger growth. Total retail sales rose 1.8 per cent [...]
US manufacturing stalls ahead of looming fiscal cliff December 3, 2012 US FIRMS yesterday blamed Hurricane Sandy and the oncoming fiscal cliff for a plummet in manufacturing activity to its lowest level since July 2009. The ISM’s widely-regarded purchasing managers’ index (PMI) crashed from 51.7 in October to 49.5 in November – a level that shows a contracting manufacturing sector. Companies cited political uncertainty as the [...]
Recovery hopes boosted by easing of manufacturing fall December 3, 2012 MANUFACTURING in the Eurozone contracted for a 16th straight month in November, data revealed yesterday, yet the pace of decline eased to its slowest in eight months. And factories are also suffering outside the single currency, with the manufacturing sector also shrinking in the UK. Yet British factories’ performances contracted at a much slower rate [...]
Pipe maker Tricorn sees softer markets but improving margins December 3, 2012 PIPE and tube maker Tricorn’s shares rose 7.35 per cent yesterday after the Aim-listed group posted an 18 per cent rise in pre-tax profits as capital investments start to pay off. Tricorn, which makes pipe and tubing for engines, aircraft and cars, said revenues fell seven per cent to £11.55m in the six months to [...]
Londoners stay in as UK goes out December 2, 2012 Londoners ate and drunk out much less in the autumn, Deloitte said today, while consumers across the rest of the country went out more frequently. On average, Londoners went out for a drink, or to eat, 25.7 times per month in October, according to data from Deloitte, down from 31.1 times in the July. But [...]
Eurozone retail sector suffers another sharp drop in sales November 29, 2012 RETAIL SALES continued to decline in the Eurozone in November, according to data out yesterday, making the month the 13th of shrinking volumes. Markit’s retail purchasing managers’ index rose slightly to 45.8, from 45.3 in October, but still indicated steady contraction, since it remained below the crucial no change level of 50. This came as [...]
Kcell and Megafon shrug aside Goldman Sachs effect November 29, 2012 In the end, the decision by Goldman Sachs to extricate itself from a leading position on the syndicate of banks advising Russia’s leading mobile telecoms group Megafon on its £7bn London and Moscow flotation didn’t turn out to be fatal. And although Goldman didn’t advise on the London flotation of Kazakhstan-based telecoms group Kcell, fears [...]