Posts

Showing posts with the label The Telegraph | City Briefing .

The Telegraph | City Briefing - July 3, 2014:-

Image
  City briefing   LOUISE ARMITSTEAD CHIEF BUSINESS CORRESPONDENT Follow Louise on Twitter TOP OF THE AGENDA Poundland  is proving why it's good value for investors' money with an impressive set of maiden results today. The newly listed discount chain has reported a 13.3pc jump in annual sales to March of £997.8m. Underlying annual pre-profits, which exclude the listing costs, jumped 23.5pc to £36.8m, although on a reported basis, pre-tax profits fell to £21.5, from £26.5m last year. In an additional first quarter statement, Poundland has reported sales to July of £262.6m, an 18pc jump from last year. The company, which is one of the few new entrants on the London Stock Exchange to be trading above its float price at the moment, has credited strong sales with the late timing of Easter and a strong programme of opening new stores as well as offering "amazing value every day".  Jim McCarthy  has told Radio 4 this morning that Poundland is

The Telegraph | City Briefing -July 1, 2014-.

Image
  City briefing   LOUISE ARMITSTEAD CHIEF BUSINESS CORRESPONDENT Follow Louise on Twitter TOP OF THE AGENDA The day has dawned:  Ocado  has made its first ever profit, 14 years since it was founded. The online retailer has unveiled £7.5m of half year pre-tax profits to May 18 , up from a loss of £1m last year. Revenues have jumped 20.7pc to £429.7m from £355.9m. For years many investors and analysts bet that Ocado would never be profitable but these results as much proof of Britain's strong take-up of online shopping as the company's drive for efficiencies and scales. Tim Steiner , chief executive, has hammered home the implications for traditional supermarkets and their vast property portfolios. "The online grocery market continued to outperform the traditional bricks and mortar supermarkets," he said, despite growth being "currently impacted by subdued and cautious consumer spending." Can the profits be maintained and grown o