Analyst Views | Did Persimmon’s full year results meet your expectations? February 25, 2013 ROBIN HARDY PEEL HUNT Good margin growth in the second half is likely to edge up forecasts, only modestly, but still showing that growth and high income are possible in this sector. We still prefer to see the UK house builders making high distributions, and Persimmon ticks this box very strongly. KEITH BOWMAN HARGREAVES LANSDOWN [...]
Carpetright lifts British sales yet trading in Europe disappoints January 29, 2013 CARPETRIGHT posted better than expected third quarter sales in its home market after “self-help” measures such as store revamps and new product ranges helped to boost trading. The flooring specialist retailer, said UK like-for-like sales were up 3.2 per cent in the 13 weeks to 26 January, compared with a 0.6 per cent rise in [...]
Dow heads to highs ahead of key speech February 12, 2013 US STOCKS closed modestly higher yesterday, putting the Dow within striking distance of an all-time high, as investors looked ahead to President Barack Obama’s State of the Union address. Investors will be listening to Obama’s speech for any clues on a deal with Republicans to avert automatic spending cuts due to take effect on 1 [...]
House prices in US climb 5.6pc in the 12 months to November January 23, 2013 HOUSE prices in the US shot up by 5.6 per cent in the year to November, according to a widely-observed survey released yesterday. Prices of American homes climbed 0.6 per cent in November, compared to the previous month, according to the Federal Housing Finance Agency (FHFA). The FHFA compiles data from new mortgages owned or guaranteed [...]
Scots housebuilder Cala Group mulls sell-off to Patron Capital January 20, 2013 UPMARKET housing developer Cala Group has a new front runner in the race to snap up the 138 year-old firm – private equity shop Patron Capital led by ex-Lehman Brothers banker Keith Breslauer. Cala Group, the first Scottish company ever to list on the London Stock Exchange, is in exclusive talks with Breslauer’s Patron Capital [...]
Fuller’s improves at Christmas after watered-down summer January 24, 2013 CUSTOMERS flocked to Fuller’s pubs over Christmas, as the landlord and brewer reported a 4.5 per cent like-for-like sales rise during the festive period in its core business. After declining sales for much of the year, improved trading in the nine weeks to 19 January has pushed Fuller’s to a 2.6 per cent rise in [...]
House of Fraser Basks in bumper Christmas January 7, 2013 HOUSE OF FRASER has become the latest retailer to boast of a bumper Christmas, with like-for-like sales up 6.3 per cent in the period. Following hot on the heels of rival John Lewis, the department store group said in a trading statement yesterday that its stores performed well while online sales rose a record 48 [...]
Improved outlook rouses investors January 14, 2013 US housing revival could give boost to sales of associated products WE’RE off to a flying start. The first full week of trading in 2013 saw US equity funds attract $18.3bn (£11.4bn). This was, according to Thomson Reuters’s Lipper service, the fourth best-performing week for net inflows to equity funds since records began. For the [...]
Horsemeat scandal spreads to Tesco Value spaghetti bolognese February 11, 2013 TESCO was last night forced to admit that some of its Everyday Value spaghetti bolognese contained 60 per cent horse, as the scandal over the mislabelling of meat continued to spread. Environment secretary Owen Paterson told the House of Commons that he had ordered all meat producers and retailers to commence regular testing of all [...]
Cinven gears up for £1bn float of annuity outfit February 17, 2013 CINVEN, the private equity business, is firming up plans for a £1bn float of its annuity business Partnership amid a renaissance in London’s capital markets. The mid-market buyout shop, which also owns PizzaExpress and ASK Italian restaurants, is understood to be pushing for an initial public offering (IPO) of Partnership in the second half of [...]