Tag Archives: Sam Robson

Business, Finance, Occupation & Industry

Marks & Spencer Delivers Best-Ever Easter Week

April 11, 2013 Bartle Doo Leave a comment

LONDON — Shares in Marks & Spencer have risen 4% to 399 pence as of 8:50 a.m. EDT following the release of the high-street retailer’s trading statement for the fourth quarter, which saw the strongest quarterly sales growth in the last two years.

Group sales increased 3.1% year on year, with total U.K. sales averaging out at a 2.6% rise. Another strong performance from its food operations, which saw a 6.3% lift (helped by its biggest-ever Easter week), more than offset the 2.2% drop-off in general merchandise. It was a similar story for like-for-like sales in the U.K., which saw a marginal increase of 0.6% as food soared 4% and general merchandise fell 3.8%.

Chief executive Marc Bolland commented:

We are working hard on improving our performance in General Merchandise and, despite difficult trading conditions, we made progress in our operational execution. We delivered an excellent result in Food, with performance well ahead of the market, as customers continued to trust us for provenance and quality. We are increasingly seen as the destination shop for special occasions.

An increased push in multichannel sales saw a 22.9% rise in the operations year on year, helped by increased participation in M&S’ click-and-collect offer “Shop Your Way,” while mobile sales soared more than 70% compared with the same period last year thanks to an improved mobile-shopping experience implemented.

Elsewhere, international sales grew by 7% following a good performance by its franchise business in the Middle East, while key markets in India and China continued to trade strongly. Management also highlighted the performance of its European stores, stating, “Despite the macro-economic issues in some of the legacy markets, our performance in Europe improved in the quarter.”

So Marks & Spencer appears to be making ground in its directive to become an international multichannel retailer despite the continued decline of its clothing operations. However, Bolland and the rest of the management team are addressing this with “selected tactical offers,” and they revealed in this morning’s update that customers are responding well to “better editing” of its spring and summer range. If they can return the general merchandise department to former glory, coupled with its excellent food division, then Marks & Spencer, on a prospective yield of 4.5%, might just return to prominence — both on the high street and in investors’ eyes.

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The article Marks & Spencer Delivers Best-Ever Easter Week originally appeared on Fool.com.

Sam Robson has no position in any stocks mentioned. The Motley Fool has no position in any of the

From: http://www.dailyfinance.com/2013/04/11/marks-spencer-delivers-best-ever-easter-week/

Business, Finance, Occupation & Industry

PZ Cussons "In Line With Expectations"

April 11, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — PZ Cussons shares are up more than 2% as of 8:30 a.m. EDT after the company released an interim management statement confirming that its performance and cash generation are in line with expectations.

A leading consumer-products group in Europe, Asia, and Africa, PZ Cussons stated its belief that results for the full year would deliver a return to profitable growth, despite challenging trading conditions in most of its markets as “consumer disposable income remains under pressure.”

Europe saw its U.K. washing and bathing division perform well, especially the core brands Imperial Leather, Carex, and Original Source, despite the “intense promotional activity” in the trade, while its beauty division saw growth in international markets offset a tougher trading environment in the U.K.

In Asia, trading conditions in australia remain challenging, although management commented that the business has now moved firmly back into profitability, while a weaker rupiah and high wage-inflation have limited the growth of profitability in Indonesia, denting the potential profits from continued positive momentum in the market.

PZ Cussons has seen its African operations hit by unrest in the north of Nigeria, although “the trading environment in the rest of the country has been more robust with no further fuel duty related impact taking place during the period.” Production has begun at a new palm-oil refinery, and the new consumer food ingredients brand is due to be launched in June.

Having risen strongly in recent months, PZ‘s shares now trade at more than 25 times trailing earnings per share, and even though the firm looks set to lift its dividend for a remarkable 40 consecutive years, the shares currently yield less than 2%. So, despite its track record, PZ Cussons’ immediate rating may not look that attractive.

But there are other shares in the market today that boast durable dividend records. In particular, Warren Buffett has picked a prominent FTSE name that has lifted its dividend every year for 28 years. At 356 pence, this share trades on a P/E of about 11.7 and currently offers a yield of 4.2%. Just click here to download this exclusive Buffett report while it’s still free.

The article PZ Cussons “In Line With Expectations” originally appeared on Fool.com.

Sam Robson has no position in any stocks mentioned. The Motley Fool owns shares of PZ Cussons. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

From: http://www.dailyfinance.com/2013/04/11/pz-cussons-in-line-with-expectations/

Business, Finance, Occupation & Industry

Halfords Group May Still Yield 7%

April 10, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Shares of Halfords Group were up 4.40 pence, or 1.4%, at the time of writing this morning following the announcement of its pre-close statement for the 52-week period to March 29, 2013.

The U.K.’s leading retailer of automotive and leisure products and services’ total revenue rose 1.7% over the last 11-week period, with its autocentres division continuing its growth as it put in a 7.8% increase, while Retail operations fared well with a 0.5% lift against the same period last year.

Like-for-like (LFL) revenue for the 11-week period saw autocentres increase 0.8%, with retail up 0.3% — helped only by a 10.4% uplift in its car maintenance operations, as cycling fell 8.8%, travel solutions was down 5.5%, and car enhancement dropped by 4%.

Over the 52-week period, Halfords saw a combined increase of 1% in total revenue, with autocentres’ 13.5% lift more than offsetting retail’s 0.9% drop-off. It was a similar story for LFL revenue over the period, as autocentres soared 7% but retail was down 0.7% (car maintenance +5.1%, travel solutions -6.8%, car enhancement -4.2%, and cycling -0.6%), which led to a marginal 0.3% increase for the company overall.

As seen with many companies releasing results recently, Halfords was also affected by the cold snap we’ve had in the U.K., which contributed to the decline in outdoor-focused divisions — cycling, travel solutions — but benefited car maintenance, which benefited from the company’s strategic wefit focus.

Chief executive Matt Davies commented:

This was a robust performance demonstrating how the balance of our business can offset some variations in the weather… We are focused on significantly improving the service we offer customers and this emphasis will be central to our future investments. I look forward to outlining our plans to secure sustainable revenue growth through our three-pillared strategy at our preliminary results on 23 May.

Management confirmed that pre-tax profit is in line with prior assumptions of around 68 million pounds to 72 million pounds. Halfords remains in a good position financially, then, and well regarded by investors interested in high-yielding companies, offering a consensus yield of around 7%.

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The article Halfords Group May Still Yield 7% originally appeared on Fool.com.

Sam Robson does not own shares of Halfords Group. The Motley Fool recommends and owns shares of Halfords Group. The Motley Fool owns shares of Halfords Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Centamin's Egyptian Mine Continues to Break Records

April 9, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

Sukari, Centamin‘s Egyptian gold mine, saw a record level of production in Q1 2013 according to the miner’s preliminary production results, and lifted the share price 3.5% in early trade this morning to 47.40 pence.

87,016 ounces is a huge 77% increase on the same period last year, while it’s up 2% on the fourth quarter of 2012. Quarterly throughput at the Sukari process plant also broke records, with 1,402 karats representing a 37% increase on the corresponding quarter in 2012, and 12% up on Q4 2012.

Elsewhere, open pit total material movement of 10,550 karats jumped by 56% and ore production of 2,133 karats increased 11% on Q4 2012. The underground mine saw an increase of 6% on the previous quarter, delivering 119 karats, while the run of mine ore stockpile balance increased by 38 karats to 759 karats.

Chairman Josef El-Raghy commented:

Following on from record 2012 financial results, the team at Sukari have delivered a second successive quarter of record gold production, with further improvements across all areas of the operation. This marks a solid start to the year and output remains on target to achieve the 2013 guidance of 320,000 ounces. With the plant running at consistently high levels of productivity, the processing function is well placed to deliver the next step change in throughput from the Stage 4 expansion, which remains on course to complete commissioning by the end of the year.

Today’s statement noted the benefit from continued high levels of productivity coupled with a reduced impact from stoppages compared with the previous quarter.

The news is another boost for Centamin, following problems at the end of last year where a suspension was lifted that had caused its fuel supplier Chevron to be unable to supply fuel to Sukari. The shutdown of the Egyptian mine caused the shares to plummet over 60% in one day, from 52 pence down to 30 pence. Once the suspension was lifted, however, the shares rebounded 25% as fuel supply was resumed, and rose a further 25% as shipment resumed.

So, more good news for investors who bought into Centamin at the bottom of the recent price crash. At today’s price, Centamin’s shares have yet to regain all of their value prior to the plunge, and the question whether the potential for recovery makes Centamin a buy remains your decision.

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The article Centamin’s Egyptian Mine Continues to Break Records originally appeared on Fool.com.

Sam Robson has no position in any stocks mentioned. The Motley Fool …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

ONS Figures Calm Fears of Triple-Dip Recession

April 9, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — The latest figures from the Office for National Statistics have revealed that February saw industrial production rise 1% against January 2013, while manufacturing output — one of the components of the index of production — almost doubled its February forecast, up 0.8% compared to the previous month’s fall of 1.9%.

This has led several economists to say the news eases fears of a triple-dip recession — feasibly a third in five years — with BNP Paribas’ David Tinsley commenting: “These apocalyptic stories of a Q1 negative (GDP) print and a triple dip are still certainly not guaranteed. If we get some growth in the service sector, we will be OK.” Further, Royal Bank of Scotland‘s Ross Walker said, “It’s hardly a dramatic recovery but it does look to be avoiding a symbolic triple dip recession.”

Energy production also comprises part of the industrial-production figure, and the colder-than-average weather that the U.K. has been seeing — including snowfall in spring — has significantly contributed to the upturn, which had previously been estimated at a 0.3% increase.

Companies that have benefited include British Gas owner Centrica , which reached an annual high last week and gained 1% in today’s trading to reach 374 pence. Increased gas usage, higher prices, and more investment in the sector have led to a strong start to the year for the likes of Centrica and BG Group . The latter also profited from today’s news, gaining a more modest 0.3%.

Indeed, with the government‘s proposed “Gas Generation Strategy,” the energy sector looks to have a healthy outlook. Interestingly, though, City super investor Neil Woodford recently sold all of Invesco Perpetual High Income fund’s holding in BG Group, yet he retains a significant holding in Centrica…

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The article ONS Figures Calm Fears of Triple-Dip Recession originally appeared on Fool.com.

Sam Robson has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Vodafone Group Expands International Presence

April 5, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — As the M&A rumors continue to swirl around Vodafone , specifically its 45% stake in Verizon Wireless, the British telecom Goliath pushes on with expanding its international presence.

Yesterday, Vodafone announced that it has formed a consortium with China Mobile to bid for a mobile telecommunications license in Myanmar, formerly Burma, believed to be an important new market for the mobile industry.

The news follows the government in Myanmar doubling the number of mobile operators from two to four, and backing plans to encourage the country’s development of mobile infrastructure. The two new licenses will authorize the license holders to build, own and operate a mobile network on a nationwide basis for an initial term of 15 years.

Myanmar currently has a GDP growth rate of 5.5% per year, a comparatively young and highly literate population of around 60 million, and its and mobile phone penetration is currently below 10%, which is much lower than many emerging countries.

Elsewhere, Reuters reported that Vodafone is thought to be in talks with Deutsche Telekom in Germany over a wholesale deal “that would enable the British group to offer its German customers superfast broadband and a TV service,” according to “a person familiar with the situation.”

Earlier this year, it had been thought that Vodafone was eyeing up a potential acquisition of Kabel Deutschland, with CEO Vittorio Colao saying “I’d like to provide pan-European unified services,” but making no mention of a specific company.

A one-stop shop to include bundles of wireless, web, television, and phone service is a promising prospect to consumers, while a fixed-line offering in the country would strengthen Vodafone’s operations that are needed to connect its radio masts as well as handle the volumes of Internet data, as it currently has to rent capacity from its rivals’ fixed networks in continental Europe.

Both companies are yet to comment on the speculation.

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The article Vodafone Group Expands International Presence originally appeared on Fool.com.

Sam Robson owns shares of Vodafone. The Motley Fool recommends Vodafone. The Motley Fool owns shares of China Mobile. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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b.type=”text/javascript”;b.async=!0;b.src=(“https:”===c.location.protocol?”https:”:”http:”)+
…read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

AMEC Benefits From North Sea Drilling Contract

April 4, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Shares in AMEC lifted 2% in early trade, putting on 23 pence to reach 1,102 pence following the release of its interim management statement.

Trading for the year to date was confirmed as being in line with the British multinational consultancy, engineering and project management company’s previous expectations, and guidance remains unchanged from the final results issued mid-February, which saw the dividend increased by 20%.

Management stated that the order intake and forward visibility “remained good”, up to £3.7 billion compared to December 2012’s figure of £3.6 billion and equal to March 2012’s figure.

Chief executive Samir Brikho commented:

We continue to see good growth in conventional oil & gas, with new contract awards, such as the £68 million contract to deliver the hook up and commissioning services for the two new Clair Ridge platforms for BP and its co-venturers, boosting activity in the North Sea in particular.

The acquisitions made in 2012 are integrating well and the pipeline of further acquisition opportunities remains good. We remain on track to achieve our targeted EPS of greater than 100 pence ahead of 2015.

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The article AMEC Benefits From North Sea Drilling Contract originally appeared on Fool.com.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Babcock International Group "In Line With Expectations"

April 3, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Babcock International Group this morning released a pre-close trading update, which confirmed that its full-year financial results are in line with previous expectations.

The U.K.’s leading engineering support services company went on to comment on the “strong progress” shown on the previous year, amid positive market conditions, with the bid pipeline increasing from £14 billion to £15.5 billion in the last two months — the most significant addition to the pipeline is the Logistics and Commodities Services Transformation contract, being bid by the Defense and Security division in a joint venture with DHL.

At around £12 billion, management highlighted the order book’s contribution to “provide excellent visibility of future revenue streams across the Group”. Bidding activity remained high throughout the year, while a number of significant transformation and investment programs are being progressed through its civil and military markets.

Since the first-half results were released in November 2012, Babcock has won or are preferred bidders on contracts valued over £1 billion, including preferred bidder announcements on contracts for ground fleet maintenance for British Airways and baggage handling systems operations and maintenance for Heathrow Airport (£440 million); preferred bidder for the design, supply and delivery of two boat sets of weapon handling and launch equipment for an international customer (£100 million); and design and engineering support and equipment procurement contracts, in the U.K. and internationally, for the Marine and Technology division (£50 million).

Management reiterated their confidence of moving the company forward, stating that it remains “well positioned to help our customers develop cost efficient support solutions and we believe the current economic climate will continue to create significant medium and long-term growth opportunities for the Group, both in the U.K. and overseas”.

The shares saw little change as the pre-trading update was released this morning. Babcock was one of 2012’s best performers, and if you’re looking for companies that have strong potential to soar in price, then we’ve pinpointed our favorite growth share from the FTSE 100. Our analysts have produced a free report in which they evaluate its finances and risks, and its growth prospects going forward. Simply click here to get your copy delivered to your inbox immediately — it’s completely free.

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The article Babcock International Group “In Line With Expectations” originally appeared on Fool.com.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Vodafone Group Reaches 5-Year High

April 2, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Vodafone continued its recent climb, rising 5.4% to reach 196.65 pence, off the back of further speculation surrounding Verizon Communications mulling its options regarding Vodafone’s shares in their joint venture, Verizon Wireless.

The move in share price comes following reports from the Financial Times Alphaville blog that Verizon and AT&T have been working on a “share break-up bid,” valuing Vodafone at 260 pence per share, around $245 billion. This would surpass AOL and Time Warner‘s $165 billion merger, and even Vodafone AirTouch’s acquisition of Mannesmann AG for $202.8 billion in 1999, the current record holder.

Vodafone’s shares had previously reached 191 pence in early August 2012, with today likely to end on a new five-year high. Following the recent rumors, the telecom company’s share price has climbed as the market appeared to have new-found hope for the stock. And on a price-to-earnings ratio of below 12 and a healthy yield forecast of 5.1%, well above the FTSE 100‘s average of around 3%-3.5%, it’s not hard to see why.

Rising over 46 pence to 6,458 pence at the time of writing, the news has helped push the FTSE 100 back toward its own five-year high of 6,533.99, reached on March 12.

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The article Vodafone Group Reaches 5-Year High originally appeared on Fool.com.

Sam Robson owns shares of Vodafone. The Motley Fool recommends Vodafone. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Business, Finance, Occupation & Industry

BP and Royal Dutch Shell Among £330 Million North Sea Consortium

March 28, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Over £330 million is to be invested by the likes of BP and Royal Dutch Shell in a drilling program focusing on a “monster” oil field to the west of Shetland.

The consortium — which also includes ConocoPhillips and Chevron — announced that drilling has already begun on the first of five wells planned over the next two years in the field at Clair. A further seven wells may be drilled if the appraisal program is successful.

With the giant North Sea field of Clair known to hold 8 billion barrels of oil, a third phase could take production beyond 2050 for the BP-led consortium, as BP North Sea regional president Trevor Garlick commented: “This is a major milestone and a further big commitment to the west of Shetland by BP and its co-venturers. If successful, the appraisal program could pave the way for a third phase of development at Clair — this is now a real possibility.”

The news comes as the U.K. government reveals a new strategy to aid the oil and gas exploration industry, to be unveiled by U.K. Business Secretary Vince Cable in Aberdeen — the “oil capital of Europe” — who stated:

“I want us to consider what barriers are stopping British companies bidding for and winning work in the North Sea. This is an expanding industry. We can either help create more jobs and opportunities across the U.K. if we get this right, or see work going overseas if not.”

With around 400,000 people employed in oil and gas, the government hopes that further investment in the sector will help develop the U.K.’s supply chain, with new tax breaks announced over the last few years helping to repair the damage from huge rises in 2011.

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The article BP and Royal Dutch Shell Among £330 Million North Sea Consortium originally appeared on Fool.com.

Business, Finance, Occupation & Industry

Record Profit at Gold Miner Centamin

March 27, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Centamin this morning released its audited annual results for the year ended Dec. 31, 2012, revealing record EBITDA of $233.3 million, up 10% on 2011.

Full-year production at the Egypt-focused gold-miner was up 30% on the previous year, with the final figure of 262,828 ounces above the guidance of 250,000 ounces. Basic earnings per shares rose 2% to $0.1827, while Centamin has continued to reap the benefits of the high gold price as it remains debt-free and unhedged with cash, bullion on hand, gold sales receivable, and available-for-sale financial assets of $219.4 million as of Dec. 31, 2012.

Centamin’s Sukari gold mine — now in its third year of production — has been pivotal to Centamin’s fortunes in recent months and had a rollercoaster effect on the share price. First, operations were suspended due to a lack of diesel supplies and the halting of sales by “unforeseen and arbitrary” red tape, which caused a 61% crash in the share price in a single day. The price recovered 25% the following day as the fuel supply resumed and a further 25% a few days later as customs lifted its halt on gold exports from Sukari.

Management “remains confident that a satisfactory outcome will ultimately be achieved” over two separate court cases relating to Sukari. The first concerns a decision by the Egyptian General Petroleum Company to charge international prices, rather than local (subsidized) prices, for the supply of diesel fuel oil. The second involves a judgment by an Egyptian administrative court in relation to the validity of Centamin’s 160-square-mile exploitation lease — though normal operations are able to continue during this process.

Having shed 4.7% of its value as of 10:05 a.m. EDT today, at 54 pence Centamin’s share price has yet to regain all of its value prior to the plunge, and whether the potential for recovery makes Centamin a buy remains your decision.

Indeed, you may wish to consult this free Motley Fool report, which explains how betting on battered shares can provide wonderful gains — if the underlying company recovers. To put a possible turnaround into perspective, Centamin’s shares reached a peak of 197 pence before the Egyptian troubles erupted. Anyway, if Centamin is tempting you today, please click here to read the Fool’s exclusive “millionaire” report before you hit the buy button.

The article Record Profit at Gold Miner Centamin originally appeared on Fool.com.

Business, Finance, Occupation & Industry

Diageo Looks to Increase Chinese Holding

March 26, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Following recent news that it has not been troubled by stricter regulations in China, Diageo is believed to have entered initial talks to increase its holding in Quanxing, the holding company that owns a 39.7% stake in popular baijiu brand ShuiJingFang.

Diageo already owns a 53% interest in Quanxing — and, indirectly, 21% in ShuiJingFang — after previously upping its stake from 49% for 13 million pounds in 2011, but before any such offer is lodged, as reported by The Sunday Telegraph it is understood that the distiller has approached Sichuan provincial department of the Ministry of Commerce to register its interest and seek approval.

The move — with Diageo mooted to be looking for up to a 90% controlling stake — would go some way in consolidating its position in the premium end of the baijiu drinks market, whose sales are thought to make up around half of China‘s annual 45 billion-to-50 billion pound spend on alcohol.

I purchased shares on the strength of its diverse portfolio and its exposure to emerging markets, so, as a shareholder, I’m encouraged by the noises coming from the East. At 2,037 pence, Diageo’s shares have increased more than 2.5-fold in the past five years from a low of 733 pence in 2009 and are currently on a forecast yield of around 2.4%.

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The article Diageo Looks to Increase Chinese Holding originally appeared on Fool.com.

Sam Robson owns shares in Diageo. The Motley Fool recommends Diageo. Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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if (obj.addEventListener){
obj.addEventListener(evType, fn, useCapture);
return true;
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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Record Wet Weather Hits Profits at Kingfisher

March 26, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — This morning Kingfisher released its preliminary results for the full year, reporting adjusted pre-tax profit of 715 million pounds, down 11.4% from fiscal-year 2012’s figure of 882 million pounds. At 10.57 billion pounds, total sales decreased 2.4% from 10.83 billion pounds the previous year. Adjusted earnings per share fell as a result, down 11.2% to 22.3 pence in contrast to 25.1 pence in FY 2012.

Management at Europe‘s leading home-improvement retailer pointed to three primary causes that affected the results: Record U.K. wet weather affected footfall and seasonal sales, down 9% at a loss of about 25 million pounds in profit; weaker consumer confidence in its three key territories; and adverse foreign-exchange movements to the tune of 39 million pounds when translating euro and zloty overseas profits into sterling.

The owner of the B&Q and Screwfix brands kept the final dividend flat at 6.37 pence as a consequence, but the 25.1% hike in the interim meant that its full-year dividend was up 7% to 9.46 pence.

Kingfisher did see a positive year in terms of cash-flow generation, though: After finishing FY 2012 with financial net debt of 88 million pounds, it ended this year up with net cash of 38 million pounds.

Group chief executive Ian Cheshire commented:

While we have been unable to fully offset these headwinds, the hard work of our teams and our firm focus on our established program of self-help initiatives means we ended the year in good shape with net cash on the balance sheet, higher market share and having generated economic return for our shareholders. During the course of the year, we have developed our wider management team, mostly through internal promotions, and we have made excellent progress with the first year of our self-help plan, “Creating the Leader,” a plan supporting both the short term while building the business for the longer term. Looking ahead, although we expect market conditions to remain challenging, we will continue to actively manage the business, optimising the generation and use of cash and driving longer term success through our own actions.

These words on the near-term future seem to have reassured the market, which has lifted the shares improve 1.4% to 287 pence this morning. Kingfisher now yields 3.3%, with a forecast yield of 3.6%.

If you’re considering companies for your retirement portfolio, then I suggest you download our brand-new special free report. In it, our top analysts have plucked five large-cap companies with healthy balance sheets, dominant market positions, and reliable cash flows that they believe can offer you the key to financial freedom. Just click here to have it delivered to your inbox immediately — completely free!

The article Record Wet Weather Hits Profits at Kingfisher originally appeared on Fool.com.

Sam Robson has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

BP Launches $8 billion Share Buy-Back Scheme

March 22, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — BP this morning announced its intention to carry out a share repurchase program with a value of up to $8 billion, or £5.3 billion — a bigger cash return than had been previously expected.

Yesterday, the oil Goliath completed the sale of its 50% stake in TNK-BP to Russian state oil company Rosneft for $12.5 billion, which now becomes the world’s largest listed oil producer.

BP‘s original investment in 2003 saw around $8 billion in cash, shares and assets go into the formation of TNK-BP, and today’s news backs its promise to return that money to shareholders. The remaining proceeds from the sale will be ploughed into the company in order to reduce its debt.

Chief executive Bob Dudley commented:

BP is moving on to the next phase of its business in Russia, becoming the largest private shareholder in Rosneft, Russia‘s leading oil company. In the process we have also released cash, equivalent to at least six years of BP‘s anticipated future dividends from TNK-BP. We look forward now to working closely with Rosneft and together developing opportunities to create value for both companies.

Buy-back schemes are often undertaken with the intention to increase the value of shares, and BP‘s have seen a 12 pence, or 2.7%, increase in early trade to reach 461.45 pence.

The move follows further disposals by BP, such as the sale of its 50% non-operated stake in the Sean gas field in the North Sea to SSE, intended to help cash flow and maintain its ability to pay dividends. Indeed, during the first nine months of 2012, BP raised $5 billion from disposals, and currently yields 5%.

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The article BP Launches $8 billion Share Buy-Back Scheme originally appeared on Fool.com.

Business, Finance, Occupation & Industry

Today's Falling Knife: Mulberry Crashes 16%

March 22, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Mulberry this morning announced that revenue and pre-tax profit for the year ending March 31 are expected to be below previous market expectations, sending the shares crashing 16% as of 9 a.m. EDT.

Despite seeing retail sales over Christmas in line with expections, the English luxury goods retailer blamed the shortfall on weaker-than-anticipated trading conditions after the festive period — including reduced tourist spending in London stores — and lower-than-expected in-season ordering.

This means that wholesale sales for the year are now expected to be down approximately 15% compared with the year ending March 31, 2012, while revenue and pre-tax profit are expected to come in around 165 million pounds and 26 million pounds, respectively. However, management said the order book for autumn/winter 2013 was building “satisfactorily.”

Chief executive officer Bruno Guillon commented:

After three years of rapid growth, Mulberry has experienced a year of consolidation while we build the foundations for future growth. We are focused upon optimising the distribution network and adapting our tactical marketing strategy to drive international brand awareness. We continue to reinforce Mulberry’s luxury positioning through an enhanced focus on creativity, craftsmanship and quality.

Mulberry had previously seen success off the back of the rise of the emerging middle class in China, with luxury goods competitor Burberry also performing well. With the shares currently standing at 1,035 pence, some contrarian investors may view today’s price crash as a buying opportunity. Indeed, the shares have increased more than 17-fold in the last five years since 2009’s low of 60 pence!

If you’re looking for companies that have strong potential to soar in price, then we’ve pinpointed our favorite growth share from the FTSE 100. Our analysts have produced a free report in which they evaluate its finances, risks and growth prospects going forward. Simply click here to get your copy delivered to your inbox immediately — it’s completely free.

The article Today’s Falling Knife: Mulberry Crashes 16% originally appeared on Fool.com.

Sam Robson has no position in any stocks mentioned. The Motley Fool recommends Burberry Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Diageo Untroubled by Stricter Chinese Regulation

March 21, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Diageo has eased investors’ concerns that recently tightened rules on “gifting” in China will significantly affect its performance in the East.

Chief operating officer Ivan Menezes put fears to bed that the distiller’s sales would suffer from a restriction on “inter-governmental luxury banqueting” that banned high-level military officials from indulging in alcohol during official visits. Speaking at the Consumer Analyst Group of Europe on Monday, Diageo COO Menezes stated:

Our business in China is not that dependent on the classic institutional sales and classic gifting, which is where the downturn is happening right now. While our Shui Jing Fang baijiu business is an ultra-premium business, it’s less dependent on institutional sales than the big Chinese players. So we’ve taken less of an impact there. … We were not that heavily reliant (on gifting) to begin with, and we’re just at the starting stages of building the business in China.”

The stricter regulation, which was introduced near the end of 2012, caused local competitors’ share prices to fall — including those of Kweichow Moutai, the distiller of popular Chinese beverage baijiu — as the result of the tighter controls started to become apparent. Diageo, though, has continued its strong performance from the beginning of the year, with the shares having smashed through the 2,000 pence mark to sit at 2,020 pence at the time of writing.

If you’re looking for another company that should soar in price, we’ve pinpointed our favorite growth share and produced a special report in which we evaluate its finances, risks, and growth prospects going forward. Simply click here to get your copy delivered to your inbox immediately — completely free.

The article Diageo Untroubled by Stricter Chinese Regulation originally appeared on Fool.com.

Sam Robson owns shares in Diageo. The Motley Fool recommends Diageo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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if (obj.addEventListener){
obj.addEventListener(evType, fn, useCapture);
return true;
…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

NEXT Increases EPS and Dividend More Than 15% for Fourth Consecutive Year

March 21, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — NEXT‘s Directory service — its online and catalog area, which is widely believed to have ensured that it “survived and thrived” where some high-street rivals died — saw a 9.5% increase in sales to bring in 1.19 billion pounds for the year ending January 2013, helping the retailer to a positive set of results.

NEXT‘s retail sales remained consistent, raking in 2.19 billion pounds to match the previous year, though profit here improved 2.3% year on year to take home 331.1 million pounds. NEXT Directory saw profit up 15.1% at 302.1 million pounds, compared with 262.6 million pounds for the year ended January 2012.

Chairman John Barton commented:

The growth differential between NEXT Directory and NEXT Retail, where sales were level, narrowed. The two businesses continue to work well together and support each other in many ways. For example, over 20% of Directory sales are delivered through our stores and over 60% of the returns come back that way. Both businesses increased their operating margins during the year and the Group’s underlying profit before tax rose by 9% to 622 million pounds.

Overall, underlying earnings per share rose 16.6% to 297.7 pence, while NEXT‘s full-year dividend grew 16.7% to 105 pence to yield around 2.5% at today’s price. The shares put on 2.3% by midday on the news to reach 4,244 pence; their price has now almost quadrupled over the last five years since 2009’s low of 1,088 pence, and it has risen more than 100% over the last two years.

Looking to the future, the retailer plans a fivefold strategy: to develop the NEXT brand; to “rigorously” control costs; to invest in profitable new space; to invest in online growth; and to generate cash and return it to shareholders. All of this adds up to one of the high-street’s finest retailers. Whether you think the shares will rise further enough to warrant new investment, however, is up to you.

If you’re looking for companies that have strong potential to soar in price, then we’ve pinpointed our favorite growth share from the FTSE 100. Our analysts have produced a free report in which they evaluate its finances, risks, and growth prospects going forward. Simply click here to get your copy delivered to your inbox immediately — it’s completely free.

The article NEXT Increases EPS and Dividend More Than 15% for Fourth Consecutive Year originally appeared on Fool.com.

Business, Finance, Occupation & Industry

M&A Rumors Rear Again for Vodafone

March 20, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Having seen its share price return to former glory after six months of darkness, management at Vodafone has reiterated that it isn’t under pressure to sell its stake in Verizon Wireless.

This announcement follows a speech by chief executive Andy Halford at a private Citigroup-organized conference held on Tuesday, in which he declared that the company would be willing to accept a lower debt rating if circumstances arose for a merger or acquisition. Shares in Vodafone slipped to 185.5 pence in morning trade from a previous close of 188 pence.

Vodafone is on an “A-” ranking by Standard & Poor’s, although CEO Halford revealed that the telecommunications company would be willing to take a “BBB+” rating. Debt of about 7 billion pounds would take Vodafone one investment grade below its current one and could finance an acquisition — it’s worth noting that the previous reports of a potential takeover of German cable operator Kabel Deutschland were priced between 5 billion pounds and 8.5 billion pounds…

Intriguingly, however, Citigroup analysts upgraded Vodafone on Monday from neutral to buy, lifting the shares up to a six-month high of 188 pence, commenting: “We see a number of advantages supporting a decision to exit the U.S. now. The low interest rate environment, a strong operating performance from Verizon Wireless, improved balance sheet flexibility, a stronger dollar relative to sterling and the increase in U.S. telecoms valuations are all favorable factors.”

It seems this story is far from over, then; almost-daily newsbytes on a Verizon Communications buyout of Vodafone’s stake in their joint-venture and reinvigorated rumors of a Kabel Deutschland takeover are swinging the share price back and forth. As a shareholder, I recently reduced my holding in the company in order to finance a buying opportunity I felt I couldn’t miss, but it remains a significant position in my budding portfolio due to the strength of its yield.

If you already hold Vodafone shares as well and are looking for a stock on a similar yield, then you may wish to read this exclusive, free in-depth report. The FTSE 100 company in question offers a 5.7% income and might be worth 850 pence versus a current price of around 735 pence. Just click here to download the report — it’s absolutely free.

The article M&A Rumors Rear Again for Vodafone originally appeared on Fool.com.

Sam Robson owns shares in Vodafone. The Motley Fool recommends Vodafone. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Business, Finance, Occupation & Industry

Eurasian Natural Resources Reveals Annual Losses

March 20, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Eurasian Natural Resources Corporation released its preliminary results for 2012 this morning, and as of 9:10 a.m. EDT the shares had fallen 1.9%% to 307 pence after the company announced annual losses of $852 million against profit of $2 billion in 2011.

The Kazakhstan-focused natural-resources company revealed a basic loss of $62 per share for 2012, compared with 2011 EPS of $1.53. Revenue decreased by 18% to $6.3 billion, while operating loss was reported at $374 million. Cost of sales increased 6% to $3.7 billion, versus $3.5 billion the previous year, as a result of higher depreciation.

The preliminary results declared noncash charges for impairment and an onerous contract provision for about $1.5 billion, primarily related to Aluminum of Kazakhstan, the group’s contract with RUSAL, and Boss Mining.

Chief executive officer Felix Vulis commented:

It is disappointing to have to announce writedowns and provisions across a number of the Group’s assets, which have resulted in a basic loss per share for the year. Approximately 60% of this charge relates to the Group’s alumina business and our onerous contract with RUSAL, which is primarily a reflection of the current state of the aluminum market. The investment of $2.3 billion into our assets in 2012 is important to our success as it will support our low cost position in Kazakhstan, bring new copper volumes in 2013 and reinforce our market-leading position in ferrochrome. Although volatility around pricing will continue, we expect strong demand for our products in the year ahead.

Eurasian Natural Resources also announced that it will not be paying a final dividend this year following annual losses due to a “poor pricing environment,” leaving the interim dividend to comprise the total dividend per share for the year at just $0.065, in stark contrast to $0.27 the previous year. This leaves the company on a current yield of just 1.4%, while the shares have been on a downward trajectory over the last couple of years, having previously hit a high of 1,267 pence in 2010. Failing both income and growth-stock criteria, it will surely take something special for investors to regain faith in this one.

If you’re among those investors steering clear of Eurasian Natural Resources and considering companies for your retirement portfolio, then I suggest you download our brand-new special free report. In it, our top analysts have plucked five large-cap companies with healthy balance sheets, dominant market positions, and reliable cash flows that they believe can offer you the key to financial freedom. Just click here to have it delivered to your inbox immediately — completely free!

The article Eurasian Natural Resources Reveals Annual Losses originally appeared on Fool.com.

Sam Robson has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Supply Chain Review to Save Diageo 60 Million Pounds Annually

March 11, 2013 Bartle Doo Leave a comment

By Sam Robson, The Motley Fool

Filed under: Investing

LONDON — Diageo is set to reorganize its supply chain operations as “a consequence of [its] increasing presence in new faster growth markets,” which it hopes will lead to savings of 60 million pounds every year.

The world’s biggest distiller is looking to reduce regional structures and focus on a country level, while responsibility for local operations will be transferred to 21 of the company’s key markets. Footprint changes and “cost reductions in respect of the regional supply organisation” will lead the savings.

The news follows Diageo’s changes to the reporting for geographic segments back in Nov. 2012, with results for the year ending June 30, 2013 set to break down into North America; Western Europe; Africa, Eastern Europe, and Turkey; Latin America and Caribbean; Asia-Pacific; and Corporate.

The review of Diageo’s supply and procurement operation, which is hoped to be completed within three years, will initially cost around 100 million pounds but will reap rewards in the long term.

A spokesman for the spirits group commented:

With the emerging markets getting bigger and acquiring companies with big local footprints, including their own supply basis, it makes sense to be operated where the demand side is.

Today’s announcement was met with a positive reaction by the market, with Diageo’s shares lifting 14 pence to reach 2,008 pence in early trade — increasing more than 2.5-fold in the last five years from a low of 733 pence in 2009.

If you’re looking for another company that should soar in price, we’ve pinpointed our favorite growth share and produced a free report in which we evaluate its finances and risks and its growth prospects going forward. Click here to get your copy delivered to your inbox immediately.

The article Supply Chain Review to Save Diageo 60 Million Pounds Annually originally appeared on Fool.com.

Sam Robson owns shares of Diageo. Motley Fool newsletter services have recommended buying shares of Diageo. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

function addEvent(obj, evType, fn, useCapture){
if (obj.addEventListener){
obj.addEventListener(evType, fn, useCapture);
return true;
} else if (obj.attachEvent){
…read more
Source: FULL ARTICLE at DailyFinance

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M&A Rumors Rear Again for Vodafone

Eurasian Natural Resources Reveals Annual Losses

Supply Chain Review to Save Diageo 60 Million Pounds Annually

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