Economy NewsNews Tag: performance
March 30, 2011
Britain’s largest mutually-owned retailer, the Co-operative Group, has today posted “record” results for the 2010 year.
The group said underlying operating profits before significant items surged 48% to £545.7 million compared with £367.9 million the year before.
Group sales were 10% higher at £13.7 billion.
Earnings at the group have been boosted by its acquisition of Somerfield and its merger with the Britannia ...
Co-operative Group reports record 2010 performance
by Kay Murchie
November 4, 2010
Supermarket giant, Morrisons has reported a modest increase in third quarter sales.
The grocer, which is Britain’s fourth largest, said like-for-like sales grew 1.3% in the 13 weeks to 31 October - representing a rise of 1% from the second quarter.
Meanwhile, total sales in the third quarter were up by 2.8% and 4.7% higher when petrol forecourt sales were included.
The company said the ...
Morrison Q3 sales up 1.3%
by Kay Murchie
November 2, 2010
Lloyds Banking Group, which is 41% owned by the taxpayer, has today provided an upbeat statement as it continues its recovery from the global financial crisis.
The bank, which had to be bailed out in autumn 2008, said it remains on track to deliver a "good financial performance" for 2010 as it continues with its cost-cutting exercise following its takeover of HBOS.
It has been ...
Lloyds provides upbeat statement
by Kay Murchie
July 7, 2010
From January next year, restrictions on bankers’ bonuses will take effect, the European Parliament has announced today.
Under the deal agreed by the EU members last month, cash bonuses will be capped at 30% of the total bonus.
60% of bonuses should be variable and for future payment only, with at least 40% having to be deferred for three years and ...
European Parliament approves cap on bankers’ bonuses
by Kay Murchie
April 26, 2010
The Royal Bank of Scotland (RBS), which is 84% owned by the Government, is set to unveil plans to toughen performance targets at its AGM in Edinburgh later this week, after consultations with shareholders.
According to reports, RBS chairman, Sir Philip Hampton, is expected to agree that the share price target element of the long-term incentive ...
RBS remuneration package to be high on the agenda at AGM
by Kay Murchie
February 22, 2010
A strong performance at discount clothing retailer Primark has boosted parent group, Associated British Foods (ABF), which today reported an 8% rise in sales in the past six months.
According to ABF, like-for-like sales at its 196-strong Primark chain, which strip out the impact of new stores, were boosted by "exceptionally strong performance" from the relatively new 14 Spanish stores.
Retailers such as ...
Strong performance at Primark boost ABF
by Kay Murchie
February 14, 2010
Official figures have revealed further evidence of a strong recovery within India’s economy after industrial output surged by 16.8% in December compared with a year earlier - beating analysts expectations.
According to analysts, the Government is likely to withdraw its stimulus measures as a result of the strong performance. The country's central bank has injected in excess of £80 billion in ...
India industrial output soars 16.8% on year
by Kay Murchie
January 12, 2010
British confectioner Cadbury, renowned for Dairy Milk chocolate, urged shareholders today not to let Kraft “steal your company with its derisory offer“.
Cadbury chairman, Roger Carr, delivered the statement after it said it had enjoyed an "outstanding" performance in 2009, which exceeded market expectations.
It said underlying revenues were up 5% in 2009, with a 6% rise in the latter ...
Cadbury attacks Kraft after it unveils ‘outstanding’ 2009
by Kay Murchie
November 30, 2009
A survey by the Confederation of British Industry (CBI) has today revealed a poor performance among services companies in the July to September period.
The group said a net 13% balance of service firms said profits had increased annually for the quarter, less than the 19% expected.
Business services firms such as accountancy and law practices had expected sales to improve ...
UK service firms see weak performance in Q3
by Kay Murchie
October 12, 2009
Britain's largest mutually-owned retailer, the Co-operative Group, has today posted a 17% increase in profits for the six months to 25 July of £228.8 million.
The retailer, which is the UK’s fifth largest following its acquisition of Somerfield, said sales of its re-launched and extended 'Simply Value' range were up almost 80% on the year.
Excluding fuel and VAT, like-for-like food ...
Co-operative Group gains market share, profits up 17%
by Kay Murchie
September 30, 2009
Marks and Spencer (M&S;), which is Britain’s largest clothing retailer, has reported a strong performance by recording its best quarter for two years.
The retailing industry overall has suffered in the wake of the economic downturn as consumers rein in their spending.
However, today the retailer said like-for-like sales in the UK (which exclude new stores) eased to 0.5% for the 13 ...
M&S sees best quarter for two years
by Kay Murchie
May 14, 2009
Telecoms giant BT has today announced plans to axe 15,000 jobs this year - with the majority being in the UK.
The group also announced a full-year loss of £134 million due to a poor performance within its Global Services unit - which has written down £1.3 billion within the division.
The loss of £134 million for the 12 months to the ...
BT losses escalate, 15,000 jobs to go
by Kay Murchie
February 27, 2009
Leeds Building Society yesterday posted its 2008 results, with profits remaining strong despite the global financial downturn.
Assets of the UK's seventh largest building society grew by over £900 million to £10.1 billion.
End of year operating profit was £68.6 million, compared to £69.4 million in 2007.
Savings balance increased by more than £500 million to a record £6.6 billion.
Quality of lending remained 'good', ...
Leeds Building Society declares ‘strong’ results
by David Masters
January 26, 2009
Shares in Barclays have received a much-needed boost this morning after it reassured investors that it was on target to announce profits of over £5.3 billion for 2008.
Shares in the banking giant were up 19.7p (38.5%) at 70.9p in early trading today as an open letter from chairman Marcus Agius and chief executive John Varley to investors said ...
Barclays shares surge 40% as it reassures investors
by Kay Murchie
