Asda May 27, 2010 GET ready to slap the change in your back-pocket and shout “that’s Asda Price”: Britain’s number two supermarket has been on a spending spree. At first glance, the £778m that Asda has shelled out for 193 Netto stores looks pricey. The Wal-Mart subsidiary is paying £504 per square foot, mostly for units that are in [...]
Miners and banks help FTSE overturn three days of losses May 24, 2010 BRITAIN’S top shares broke a three-day losing streak yesterday as miners spurred by upbeat comments from China, outpaced falls in oils led by BP as concerns lingered over the Gulf of Mexico oil disaster. The FTSE 100 ended 6.68 points or 0.1 per cent higher at 5,026.44, in choppy trade. The index is down more [...]
Cranswick raises dividend May 24, 2010 Pork supplier Cranswick increased its dividend yesterday after posting a 21 per cent rise in annual pre-tax profits, to a record £43.8m. Increased demand from supermarkets, particularly for higher-end products, is credited for better than expected growth. The company, which has supply contracts with Sainsbury’s Taste the Difference and Tesco, raised its divided more than [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
Picnic of champions May 19, 2010 AT bloomin’ last. It may have taken forever, but there’s finally warmth in the air and the weekend is expected to be lovely. The sunshine will have lots of us trotting off to the nearest park clutching blankets and picnic baskets, but we shouldn’t waste the occasion on the kind of basic fodder one can [...]
Wiseman milking the profits May 17, 2010 ROBERT Wiseman Dairies has reported a jump in full-year pre-tax profits of 60 per cent to a record £49.2m. The firm said the results had been boosted by a rise in cream prices and a £1.9m cut in a fine imposed by the Office of Fair Trading (OFT). Meanwhile, Alan Wiseman has announced he will [...]
Sainsbury’s sales up but VAT alarm raised May 13, 2010 SAINSBURY’S yesterday reported a 17.5 per cent rise in pre-tax profits but warned that a sudden VAT hike from the new government could strangle the high street recovery. The company saw profits of £610m for the year to 20 March – £10m ahead of what was expected by the City. But chief executive Justin King [...]
ANALYST VIEWS: WHAT DO YOU THINK OF SAINSBURY’S PERFORMANCE? May 13, 2010 FREDDIE GEORGE | SEYMOUR PIERCE “We maintain our ‘sell’ recommendation on the stock. We are concerned that we will see a return to the worries of 1990 that the food retail market is approaching saturation as we approach a more austere time for consumers. Also the sector is being more competitive.” SAM HART | CHARLES [...]
Sainsbury’s profit rises to £610m May 13, 2010 SAINSBURY’S made a pre-tax profit of £610m over the year to 20 March. The figure represents a 17.5 per cent improvement on the company’s figures last year. Like-for-like sales – excluding fuel – were up 4.3 per cent. Meanwhile total sales were up 5.1 per cent to £21.4m with new shops and a boost in [...]