Today's comment - 24 July 2001

Debenhams: a high-street fashion sucess

Top-end brand emporium Debenhams has got its product offering 'absolutely right' say analysts and today's buoyant trading update confirms that view. But Doug Smith argues that the best option may be to take profits while the going's good.

REFS Website Fundamentals Price Archive Annual report


Photo-Me attempts to get back into focus

Photo-Me shares took off today despite flat sales and product disappointment. Behind the price rise were relief that the photobooth group had no further nasty surprises and partly revived hopes for its digital mini-labs, writes Caroline Sefton.

REFS Website Fundamentals Price Archive Annual report
Volvo: visibility like pea soup

The second quarter was poor for Volvo, Europe's second-largest lorry builder, and the outlook is for more of the same. Avoid the shares, writes Magnus Grimond.


Egg investors should bank some profit

The pioneer internet bank, owned 80% by the Pru, says it is on course to break even later this year. But following their fantastic seven month run, the shares are beginning to look over egged. By Steven Frazer.

REFS Website Fundamentals Price Archive Annual report


Reuters confirms job cuts after bottom of range figures
Railtrack tells AGM it is 'reviewing all strategic options'
Treasury denies euro delay story
Loftus Road: fans in bid to buy QPR
Catch the headlines as they break





24/7/01 Debenhams
24/7/01 Photo-Me
24/7/01 Volvo
24/7/01 Egg
24/7/01 Epic

23/7/01 MITIE
23/7/01 Infineon
23/7/01 Provident Fin

Another Epic performance

Another excellent set of figures from e-learning specialist is a beacon in the current earnings gloom. The only question is whether the prospects are in the price. By Tom Stevenson.

REFS Website Fundamentals Price Archive Annual report


Today's news - 24 July 2001

Yurko bows out as Invensys warns on profits

Rick Haythornthwaite, hero of the Blue Circle turnround, is to succeed Allen Yurko as chief executive at Invensys. First-half profits will be 30% lower than first expected at the electronics group.

REFS Website Fundamentals Price Archive Annual report


Losses narrow at internet bank Egg

Egg, the internet bank majority-owned by Prudential, says pre-tax losses for the the first six months of the fiscal year narrowed by 21%, boosted by 370,000 new customers and a 130% rise in operating income.

REFS Website Fundamentals Price Archive Annual report
ABB slashes profit targets and cuts 12,000 jobs

ABB, the European engineering giant, has cut its 2005 target for earnings-before-interest margins to 9-10% of sales, from 12%. Over the next 18 months it wants to lose 8% of its workers - 12,000 jobs to counter difficult market conditions.

Website
Topps optimistic as sales surge

Topps Tiles retail group says like-for-like sales jump 11% in first seven weeks of current year. Pre-tax profits rise 17% to £9.4m on flat margins, in line with recent warning.

REFS Website Fundamentals Price Archive Annual report


Wyndeham Press says profits to be 'substantially' down
IMS 'below expectations' after problems connecting to BT Debenhams like-for-likes up 9% in 21 weeks to July
Photo-Me profits up 19%, driven by digital photography
Reed Elsevier front-runner for Vivendi publishing ops
Pressure rises on
Tomkins over bonuses

Also reporting: Epic, Parthus, Toad, Power Leisure


Monday's comment - 23 July 2001

MITIE: continuing a winning formula

MITIE may not have quite the scale City darlings Capita and Serco but it certainly doesn't want for an enviable track record. Despite the chunky rating MITIE remains attractive compared to its peers, argues Douglas Smith.

REFS Website Fundamentals Price Archive Annual report


Infineon enslaved to the chip cycle

Siemens' chip spin-off is having to face up to many of the cyclical issues which affect every manufacturer - overcapacity, price pressure etc. The shares are cheap but they deserve to be. By Steven Frazer.


Fear of bouncing Czechs hits Provident

Provident Financial, the giant of the home credit business, has gone some way to calm fears about its overseas risk. But renewed caution on rising bad debts in eastern Europe and on motor insurance is a worry. By Caroline Sefton.

REFS Website Fundamentals Price Archive Annual report
Monday's news - 23 July 2001

ARM profits jump despite semiconductor downturn

Microchip designer ARM Holdings sees flat licensing, consulting and development revenues, offset a slowdown in royalty income in second quarter. The group 'remain confident' of the full year outcome.

REFS Website Fundamentals Price Archive Annual report


Customer numbers up 15% at Provident Financial

Financial services group reiterates its confidence for the future as it unveils a 15% increase in customer numbers in interim results with pre-tax profits up 8% to £70.2m.

REFS Website Fundamentals Price Archive Annual report
Mitie delivers 30% profit growth

Fast-growing support services group Mitie grows profits 30% to £25.1m in year to March and lifts dividend payout 25%. Quietly confident management reports good start to the new trading year.

REFS Website Fundamentals Price Archive Annual report
John Laing's growth story stumbles

John Laing, the ex-construction group rapidly re-rated as a services stock, will take a bigger than expected hit on the sale of its construction arm. The deal will trigger a £30m loss and larger-than-forecast cash outflows.

REFS Website Fundamentals Price Archive Annual report

Leeds Sporting to become simply Leeds United
Railtrack: Morton says government must support bond issue
Nord Anglia/Amey win 5 year London schools contract
AOL reportedly to confirm £1bn IPC purchase today
Bank of England: two-speed economy to 'get worse'
Reuters reportedly to cut 1200 jobs

Also reporting: Eurotunnel, Quadranet, Energy Technique

 

20/7/01 Bioglan Pharma
20/7/01 Ericsson
20/7/01 IG Group


19/7/01 Protherics
19/7/01 SAP
19/7/01 Northern Rock
19/7/01 Misys

18/7/01 Marconi
18/7/01 Osmetech
18/7/01 Pinault-Printemps-Redoute
18/7/01 Boots/Sainsbury

17/7/01 SIG
17/7/01 Philips
17/7/01 John Menzies
17/7/01 Ashtead
17/7/01 Diagonal

16/7/01 Alltracel
16/7/01 Ashquay
16/7/01 Arsenal

13/7/01 Meanfiddler.com
13/7/01 Kuoni
13/7/01 Staffware

12/7/01 Stanley Leisure
12/7/01 STMicro
12/7/01 Int. Greetings
12/7/01 London Bridge

11/7/01 New issues
11/7/01 Antisoma
11/7/01 Durlacher
11/7/01 QA

10/7/01 Big Yellow Group 10/7/01 Low & Bonar
10/7/01 Remy Cointreau
10/7/01 SurfControl & Autonomy
10/7/01 Directors' deals

9/7/01 Artisan
9/7/01 Bulmer
9/7/01 Pace Micro Tech

6/7/01 easyJet
6/7/01 ISS
6/7/01 Blacks

5/7/01 Budgens
5/7/01 Halladale
5/7/01 Artwork Systems
5/7/01 The market

4/7/01 Dixons
4/7/01 KLM
4/7/01 Iceland
4/7/01 Northgate

3/7/01 Bespak
3/7/01 TotalFinaElf
3/7/01 Range
3/7/01 Mentmore
3/7/01 RWE
3/7/01 Topnotch
3/7/01 Winchester

2/7/01 Weeks
2/7/01 Emap



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