Majestic Wine Plc, a British wine retailer, announced today that its pretax profit grew by more than 100% in the full year ended March. The excellent profit figures were mainly attributable to increased sales and a change to its minimum purchase rules.
The company said that its takeover of Lay & Wheeler last year helped the increased sales figures this year.
Majestic said that its pretax profit was reported of £16 million for the full year ended March 2010, increasing by 117% while it was reported of £7.4 million in the previous corresponding period.
Fuller, Smith & Turner has reported a 17% surge in its profits, in the wake of the recession, crediting the visitors of the pub for it.
Its pre-tax profits for the year ending March 27 reported a 17% rise, reaching £26.6m. The total revenue for the Group surged 8% by reaching £227.7m.
The beer unit of Fuller depicted 7% rise in the operational profits to £8.9m.
Simon Emeny, Managing Director of Fuller's Inns, said that the regulators have been too stringent with the Company over the last few years.
Retailing giant WH Smith has reported a fall in its sales at the airport and travel centre sites in the third quarter, holding the recent volcanic ash cloud crisis responsible for it.
It posted a 4% fall in like-for-like sales across WH Smith Travel operating via 495 units in airports, train stations and at motorway service stations, following the flight chaos caused by the ash cloud.
Its travel stores sales dropped by 2% in the 14 weeks to June 5, WH Smith has affirmed. He said the drop in the sales is unlikely to alter its profits.
It has been reported on Saturday that Walt Disney Co will have an exclusive talk on Monday to sell its Miramax film unit to Los Angeles construction magnate Ron Tutor and film financier partner David Bergstein.
When Disney declined the comments, Tutor and Bergstein were unavailable. The Tutor has said that the exclusive negotiating window would expire at midnight on June 17; however, he added that such deadlines were frequently extended.
London-based technology firm Invensys has reported an increase of 2 per cent in full-year operating profits as its order book grew, encouraged by its workload in emerging markets.
Invensys’ said its order book stood at 2.31 billion pounds, with 40 per cent from emerging markets, on March 31. Pre-tax profits grew by 14 million pounds to settle at 179 million pounds.
However, firm’s revenues slipped 2 per cent to 2.2 billion pounds during the 12-month period to the end of March.
High sales of top-of-the-range pork products helped the bacon and sausage supplier Cranswick to post an increase of 26 per cent in profits.
Cranswick’s pre-tax profits jumped from £34.7 million to £43.8 million in the 12-month period ended March 31, while revenue grew 22 per cent to settle at £740 million.
Sales of bacon and sausages grew by 61 per cent and 23 per cent respectively. Company reduced its net debt by £11.9 million to £34.7 million. Earnings per share jumped 30 per cent to 69.7 pence.
National Grid Plc, the operator of the electricity and gas networks in UK, announced today that it has registered a growth of 57% in its full year pretax profit for FY 2010. The gas and electricity supplier also announced a fully underwritten rights issue to raise £3.2 billion.
National Grid said that pretax profit was reported of £2.19 billion for the year ended March 31, increasing by 57% while it was reported of £1.39 billion in the previous corresponding period. The company said that the increase in full year profit was mainly attributable to the lower operating costs.
Asda, for the first time in four years, posted a drop in quarterly underlying sales, due to lower food price inflation. The Britain's No. 2 grocer shared that high petrol prices and rising taxes would keep expenses passive.
Asda, owned by U. S. retailer Wal-Mart revealed that sales at stores open at least a year fell 0.3 percent, exclusive of petrol and VAT sales tax in the first quarter of the year, which was low from a surge of 4.6 percent in the final quarter of 2009.
On Tuesday, Vodafone Group PLC., the world's biggest mobile telephone corporation, said that it has witnessed its full year profit more than twofold as strong expansion in Asia enabled to counterbalance downturns somewhere else.
The Company said that net revenue in the year concluding March 31 was 8.65 billion Pounds ($12.5 billion) than 3.08 billion Pounds a year before, while income increased 8.4% to 44.5 billion Pounds.
In spite of the sharp boost in overall sales, there was a huge difference between areas.
No. 1 U. S. home-improvement retailer Home Depot Inc. has reported its first-quarter profit by 41% on margin and sales growth, helped by enhanced demand for appliances and other bigger-ticket items.
The No. 1 U. S. home-improvement retailer also elevated its current-year forecast to earnings from continuing operations of about $1.88 a share on a sales increase of about 3.5%. In February, the company had forecast earnings of $1.79 on 2.5% same-store-sales growth.
ELDERS has announced to record a net loss of $165.9 million in its fiscal first half, narrowing from a loss of $328.8m posted the previous year, however, it witnessed a small profit when one-off items were excluded.
The latest figures included one-time items of $167m attributed to a recent forestry asset review and a write-down of the value of a shareholding in Forest Enterprises Australia.
Carluccio's Plc, the U. K. chain of combined Italian restaurant and food shop owner, announced today that its pretax profit grew by 8% in the first six months of fiscal. The restaurant chain group said that the profitable first half was mainly attributable to the increased sales in the period due to opening of new stores.
Tim Hortons Inc. profits were better than expected as it reported a 19% growth in adjusted profits for the first quarter of 2010. The Company posted strong same-store sales growth which was its best result during the last two years.
It earned $78.9 million, or 45 cents a share, while revenues rose 4.8% to $582.6 million. The Company sales got a big boost due to "roll up the rim to win" contest. It also handed 40 vehicles to the winners of the contest.
The restructuring plans of toy company Mega Brands Inc. helped it to report strong growth in first quarter profit. Mega Brands Inc. reported a profit of US$98.2-million (US$2.28 a share) as compared to a loss of US$25.9-million (US71¢) during the first quarter in the year 2009.
The Company was able to settle debt worth US$140.3-million due to recapitalization plan that helped cut down the total debts by US$290-million.
Macy's, the department store proprietor, posted enhanced quarterly results on Wednesday as it received benefits from a sturdy recovery in customer spending and superior labors to modify its commodities to local tastes.
Gross margins increased by 1.3 percentage points to 39.4 percent, whilst selling and managerial costs as a percentage of sales plunged by 1.8 percentage points to 35.8 percent.
Karen Hoguet, Macy's Chief Financial Officer, stated in a consultation call with analysts that margins should as well increase in the second quarter.