Visa beats the street after strong increase in card payments July 24, 2013 VISA reported a quarterly profit that beat Wall Street estimates last night as customers spent more using its cards and the world’s largest credit and debit card network raised its outlook for full-year revenue and earnings. Visa also authorised a new $1.5bn (£979m) share buyback programme, sending its shares up two per cent in after-hours [...]
Snowden stays put July 24, 2013 US INTELLIGENCE fugitive Edward Snowden will remain in transit in Russia after his lawyer said he had not received documents allowing him to travel. Snowden, who has been living in a Moscow airport since 23 June, has been given permission to stay in the country by President Putin.
Kingfisher looks on bright side as sales return to growth July 24, 2013 KINGFISHER, the owner of B&Q and Screwfix, said sales bounced back in the second quarter of the year as the hotter weather sparked demand for barbecues, flowers and garden furniture. Like-for-like sales in the UK and Ireland rose 2.5 per cent in the 10 weeks to 13 July, with total sales up 5.2 per cent, [...]
Tate & Lyle on track despite cold US spring hitting drinks market July 24, 2013 TATE & Lyle yesterday said an unusually cold spring in the US had hit first-quarter volumes but did not prompt it to alter full-year profit forecasts. The sweetener-maker, whose brands include Splenda and Tasteva, said that the expected cold start to the US summer resulted in lower volumes within the beverage sector, which mainly affected [...]
U.S. results July 24, 2013 Ford boosts outlook Ford Motor boosted its full-year outlook and posted a second-quarter profit that trounced expectations on the strength of operations outside North America. Ford said its pre-tax operating profit this year would be “about equal or higher” than last year’s $8bn (£5.2bn), rather than “about equal”. For the second quarter, it reported a [...]
Analyst Views | What did you make of Kingfisher’s statement? July 24, 2013 SIMON IRWINCREDIT SUISSEWhile this beat is encouraging … it shows more the volatility driven by weather, soft comparatives and calendar effects rather than a clear evidence of an improvement in underlying demand. JAMES GRZINICJEFFERIESSales performance was better than expected…The update confirmed a seasonally-driven rebound in the UK, normalisation in French pressures and much stronger performance [...]
Wetherspoons more bullish as UK pub-goers’ mood improves July 24, 2013 JD WETHERSPOON raised its profit forecast yesterday and said it plans to accelerate pub openings thanks to a recovery in margins and a more upbeat mood among customers. The pub chain’s 800 pubs have helped cash-strapped consumers ride out the downturn with promotions like curry clubs and “beer and a burger” bargains. Like-for-like sales rose [...]
Compass feasts on US demand for its services July 24, 2013 COMPASS posted a four per cent rise in third quarter sales yesterday after a strong appetite for its services in North America helped offset tough conditions in Europe. The FTSE 100 catering firm, which operates in 50 countries and serves 4bn meals a year, also saw operating profit margin increase by 20 basis points in [...]
British Land ups its dividend on upbeat outlook July 24, 2013 BRITISH Land, the property giant behind the Cheesegrater skyscraper in the City, has raised its dividend in a display of confidence as the economy shows signs of improving. The UK’s second largest listed property firm said yesterday it is raising its quarterly dividend by 2.3 per cent to 6.75p and 27p for the year, “reflecting [...]
Loss of rail deal dents National Express profits July 24, 2013 SHARES in National Express jumped 3.7 per cent yesterday in spite of the bus and train operator posting a 14 per cent fall in half-year profits. The firm said its non-rail business had increased revenues by 10 per cent, helping to shore up the firm’s results in spite of uncertainty around rail franchises in Britain. [...]
