AB Foods sales surge fuelled by Primark January 19, 2012 Associated British Foods has reported a 12 per cent lift rise in total sales in the 16 weeks to 7 January, thanks to “exceptional” performances at its sugar division and at discount fashion chain Primark. The group said higher prices and higher production levels meant that total revenues from sugar rose 21 per cent, while [...]
FTSE rally ends as investors eye Eurozone bond auctions January 11, 2012 The rally on the FTSE 100 yesterday stalled in early trading today as concerns over upcoming Eurozone bond auctions and slightly weaker commodity stocks took their toll. Heavyweight miners failed to keep up the gains made yesterday which were fuelled by positive data from China showing the country’s demand for metals had risen. Wall Street [...]
CITY MOVES | WHO’S SWITCHING JOBS December 18, 2011 The Miles Partnership Sue Shipley is to join the search firm as a partner to specialise in retail. Shipley was previously the global practice leader at Odgers Berndtson, where she led successful searches for the chief executives of Primark and Thorntons, the managing director of Wickes, and the director general of the British Retail Consortium. [...]
Review to slam out of town retail December 11, 2011 RETAIL expert Mary Portas, who is charged with saving the ailing British high street, is tomorrow set to unveil a list of proposals including new taxes on out-of-town car parks, a “town centre first” policy and plans for a national market day. The high street review, commissioned by Prime Minister David Cameron seven months ago, [...]
Banks and miners fuel FTSE gains December 7, 2011 Miners and banks fuelled a lift in the FTSE 100 as investor sentiment improved ahead of a crunch Eurozone summit. The blue chip index mirrored Asia and the US where markets recovered from the ratings blow from Standard & Poor’s, which threatened to downgrade 15 nations, including Germany. There is mounting optimism that Eurozone leaders [...]
FTSE holds gains as Italy nears crisis November 8, 2011 BRITAIN’S top share index rose yesterday, as earnings from UK corporates such as Lloyds Banking Group and Vodafone were received positively by investors, although Eurozone worries meant gains were vulnerable to profit taking. Miners and integrated oils, rising with commodity prices, also helped the UK’s benchmark index close up 56.52 points, or one per cent [...]
Sugar arm is sweet spot for AB Foods November 8, 2011 RECORD profits at Associated British Foods’ (ABF) sugar arm have helped offset weaker results at its discount-clothing chain Primark, which was hit after the group chose not to pass the rise in cotton prices onto shoppers. Primark’s profits slumped by eight per cent to £309m in the year to 17 September, after its operating profit [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
Selfridges to buck the high street gloom November 6, 2011 SELFRIDGES, the British chain of high-end department stores, will this week report a surge in profits thanks to the resilience of the luxury goods market. The company, which is owned by Canadian billionaire Galen Weston, is expected to report a 19 per cent jump in profits later this week, after sales at is stories in [...]
BEST OF THE BROKERS November 2, 2011 CENTAMIN EGYPT Goldman Sachs has updated its estimates on the miner following third quarter production and financial results. It rates Centamin Egypt as a “buy” but reduces its target price from 290p to 280p, calling the results solid but unspectacular. Costs were slightly higher than expected and are reflected in next year’s estimates, with earning [...]