Campari’s chief is taking a breather before returning to the M&A trail October 25, 2009 Having forked out a cool $2bn (£1.2bn) on 16 separate acquisitions over the past 15 years, it is no wonder that Campari – the world’s sixth largest drinks firm – is now calling for a temporary halt to the spending. Its chief executive, Bob Kunze-Concewitz, recently struck a cautious note due to the downturn that [...]
CITY MOVES WHO’S SWITCHING JOBS October 20, 2009 St Modwen PropertiesThe property group has appointed Katherine Innes Ker, pictured, and Lesley James as non-executive directors. Innes Ker currently holds non-executive directorships at Taylor Wimpey and Tribal Group, while James, who also becomes chair of the remuneration committee, was formerly group human resources director at Tesco and a non-executive at retailers Liberty International and [...]
Ad industry to fight back October 18, 2009 Advertising Association chief executive Tim Lefroy will this week urge members to retaliate against dwindling public trust in advertising, after a survey found that only 15 per cent of adults “generally” trust advertising. Lefroy blames lobbyists for the lack of trust. Advertisers such as Barclays, Unilever and Diageo are uniting to provide a fund into [...]
Ad industry to fight back October 18, 2009 Advertising Association chief executive Tim Lefroy will this week urge members to retaliate against dwindling public trust in advertising, after a survey found that only 15 per cent of adults “generally” trust advertising. Lefroy blames lobbyists for the lack of trust. Advertisers such as Barclays, Unilever and Diageo are uniting to provide a fund into [...]
ARE YOU DISAPPOINTED BY DIAGEO’S RESULTS ? October 14, 2009 SAM HART CHARLES STANLEY The first quarter organic net sales decline of six per cent was weaker than expected. Destocking in North America appears to have persisted for longer than anticipated. Reassuringly, however, full year guidance for low single digit growth in organic operating profit has been maintained. RICHARD HUNTER HARGREAVES LANSDOWN The update is [...]
ARE YOU DISAPPOINTED BY DIAGEO’S RESULTS ? October 14, 2009 SAM HART CHARLES STANLEY The first quarter organic net sales decline of six per cent was weaker than expected. Destocking in North America appears to have persisted for longer than anticipated. Reassuringly, however, full year guidance for low single digit growth in organic operating profit has been maintained. RICHARD HUNTER HARGREAVES LANSDOWN The update is [...]
Dismal sales at Diageo as crunch hits October 14, 2009 Diageo, the world’s biggest spirits group, said yesterday its underlying sales fell a sharper-than-expected six per cent in its first quarter, sending its shares lower, while it kept its annual profit target. The maker of Smirnoff vodka, Captain Morgan rum and Guinness beer reported the sales decline for its July-September first quarter, compared to analyst [...]
BEST OF THE BROKERS September 28, 2009 ASTRAZENECAJefferies said AstraZeneca faces a series of patent problems throughout its forecast period. While resurgent growth, pipeline delivery and cost savings on its lower cholesterol drug Crestor may help to offset some of the impact, Jefferies see a meagre earnings versus a weighted average of four per cent for the sector. DIAGEODiageo looks set for [...]
Next claims Tesco copied clothing line September 20, 2009 TESCO, the supermarket famed for its aggressive price war tactics, was yesterday batting away allegations that it has illegally copied clothing ranges from fashion retailer Next. Next has filed claims with law courts alleging the supermarket has lifted up to five clothing lines – and stolen two design motifs originally designed by Next. Tesco denies [...]
Diageo rejects plan to save jobs September 9, 2009 Drinks giant Diageo has dismissed as “unworkable” a plan to avoid job cuts at the firm that was submitted by Scottish ministers, as it presses ahead with plans to shut the Johnnie Walker bottling plant in Kilmarnock. The group said the plan, submitted by Scotland’s finance minister John Swinney, would cost more in the longer-term [...]