Steady jog at Adidas October 13, 2005 German sporting goods company Adidas-Salomon said it was on course to meet its full year targets, despite its proposed €3.1bn (£2.1bn) acquisition of rival Reebok. Adidas chairman and chief executive Herbert Hainer told investors yesterday that the group remains on course to produce a 20 per cent increase in net income, operating margins of 11 [...]
Huge loss for Vastox October 13, 2005 Oxford and Sheffield universities were at the forefront of commercial science yesterday as two of their spin-out companies reported on their trading performance. Vastox, the company founded by a team of Oxford University scientists led by Professor Steve Davies, reported its maiden first half results since floating on AIM last October. The company has developed [...]
Jurys backing offer October 13, 2005 The board of the Irish hotels group Jurys has recommended a bid led by the daughters of the late founder P.V Doyle to take the company private. The hotel group board announced yesterday that it had reached terms with JDH Acquisitions, a group that has the support of 40 per cent of Jurys shareholders. A [...]
Carphone tills ring October 13, 2005 Carphone Warehouse, the independent mobile phone company run by Charles Dunstone, said it was likely to ring up 35 per cent more profits in the first half of the year. The company also confirmed that as part of its expansion plans it would look at Onetel, the communications group being sold by Centrica. Carphone Warehouse [...]
GUS gloomy over retail sales October 13, 2005 Retail conglomerate GUS, which owns Argos and Homebase, yesterday predicted the retail sectors it serves would remain in negative like-for-like sales territory until at least September 2006. “We are planning on the assumption that like-for-like sales will remain in decline for the market as a whole for the next 12 months,” said finance director David [...]
JJB Sports declares a new price war October 13, 2005 Sportswear retailer JJB Sports said yesterday it was not afraid to start a price war by adopting a “more aggressive pricing policy”. Like smaller rival JD Sports the retailer has been a victim of the slowdown in consumer spending with like-for-like sales falling 8.8 per cent in the 26 weeks to 31 July. Operating profit [...]
OECD gloomy over 2005 growth October 13, 2005 The Organisation for Economic Cooperation and Development (OECD) sided with hawks in the Bank of England’s Monetary Policy Committee yesterday, saying there was no need for an interest rate cut despite a flagging economy. It also cut its 2005 forecast for British economic growth from 2.4 to 1.7 per cent in a report released yesterday. [...]
Peter Dubens splashes out on Monument July 2, 2005 Oakley Capital, the Aim-listed private equity vehicle founded by serial entrepreneur Peter Dubens, has bought derivatives, equities and fixed income broker Monument Securities for an undisclosed amount. The broker was acquired from Dutch firm Insinger de Beaufort, who bought Monument three years ago for £15m. Martin Burton, who founded Monument in 1991, will remain in [...]