Wetherspoon shares hit as execs leave October 14, 2010 JD Wetherspoon yesterday surprised investors by announcing the departure of two of its top executives. Finance director Keith Down and chief operating officer Paul Harbottle are to leave the pubs group “in due course” said a statement, which offered no explanation for the sudden shake-up. Wetherspoon’s has weathered the economic downturn well, with Down considered [...]
Get ready for changes in bank sector November 23, 2010 CUSTOMER confidence in the banks is low. You would therefore think that the time was ripe for new entrants to the banking market. There was a time when scarcely a week went by without somebody saying they were about to become a bank. Tesco, Virgin and Metro Bank are lining up to offer the full [...]
Stobart in shock profit warning October 20, 2010 FREIGHT company Stobart Group has cut its full-year profit forecast and warned that government spending cuts and tax rises could hit volumes in 2011. “We have slightly reduced our full-year profit expectations as a result of reduced spend by Network Rail and increased overall finance costs. We are also cautious that 2011 may see volumes [...]
Stobart in shock profit warning October 20, 2010 FREIGHT company Stobart Group has cut its full-year profit forecast and warned that government spending cuts and tax rises could hit volumes in 2011. “We have slightly reduced our full-year profit expectations as a result of reduced spend by Network Rail and increased overall finance costs. We are also cautious that 2011 may see volumes [...]
Waitrose director:sales growth will continue for years October 12, 2010 UPMARKET grocer Waitrose expects annual sales to rise by a double-digit percentage for years to come, despite a tough economic backdrop, driven by new store openings, its managing director said yesterday. Mark Price, speaking at the annual conference of grocery industry body the Institute of Grocery Distribution, said conditions for consumers were likely to be [...]
Rok calls in administrator November 8, 2010 SOCIAL housing company Rok stunned investors yesterday by filing for administration less than two months after management declared its confidence in the business. The Essex-based firm, which employs 3,800 people, released a terse statement to the stock market yesterday and PricewaterhouseCooper were later appointed as administrator. The firm issued a profit warning in August, but [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 19, 2010 THE SUNDAYS The Sunday Telegraph CHEYNE CAPITAL SHUTS EQUITY FUND AFTER POOR PERFORMANCE London-based hedge fund Cheyne Capital has closed a much-heralded equities fund only a year after it opened. The fund, which it is believed was equivalent to around 1 per cent of the approximate £5bn Cheyne has under management, closed after a dissapointing [...]
Sainsbury’s beats forecasts with sales hike October 6, 2010 J Sainsbury has posted second-quarter sales towards the top end of forecasts, as new stores, online shopping and demand for non-food lines helped it to grow share in a tough market. The group said it expected conditions to remain difficult for shoppers as the government hikes taxes and cuts spending to rein in its debts. [...]
THE TIPSTER November 10, 2010 The supermarket Sainsbury’s recently saw a dip in its share price, offering a rare buying opportunity for spread betters. Thanks to its immense property portfolio, Sainsbury’s is still preferred over competitors like Tesco. Capital CFDs quotes a price of 373.4p-374.0p. The G20 meeting in South Korea is now underway and the world is hoping for [...]
Robert Wiseman warns on profit as price war hits September 16, 2010 Robert Wiseman Dairies yesterday said it expected stiff competition to hurt its operating profits for the second half and next year, sending the shares down by nearly a third. The company that procures, processes and delivers milk to customers across the UK forecast second-half operating profit falling by around £7m and by £16m in 2012. [...]