Business news in brief
Friday 28 March 1997
Sales at John Lewis were 11.7 per cent higher in the week to 22 March than in the same week last year. Sales rose 8.8 per cent in the eight- week period to 22 March. Total sales, including revenues from Waitrose, were up 8.3 per cent for the week and 6.6 per cent for the eight-week period.
World Telecom's shares reached 170p on the first day of dealing on the Alternative Investment Market, a premium of 13 per cent to the placing price of 150p. The company raised pounds 8m from the flotation which valued it at pounds 32m.
Policy Portfolio's executive deputy chairman Isaac Rubin and deputy managing director Brian Goldstein were appointed joint managing directors of the company. Sammy Rubin relinquished his executive responsibilities and is to become a non-executive director at the end of the month. The company is considering a tentative approach for the Rubin family's controlling shareholding at 130p per share.
HSBC shares fell 7p to 1,494p as the market digested news of a $1bn Brazilian bank buy and warnings from UBS that HSBC is the most exposed of the banks to fluctuations in American interest rates and the dollar's exchange rate.
L Gardner released interim results showing operating profits up over 80 per cent at pounds 1.8m. Acquisitions contributed pounds 310,000. Earnings per share rose to 8.4p from 5.8p. Non-executive chairman Mike McDonald said he anticipated growth in the core activities in the second half, which would benefit from a full six months' contribution from Sloman Engineering and the two smaller acquisitions made recently, Kaskad Engineering and TA Components.
Enviromed made a pre-tax loss in the year to September of pounds 8.2m, higher than last year. Losses per share were 34.6p, up from 33.8p last year. Chairman Ron Zwanziger said the board intended to pursue joint ventures and strategic acquisitions within Europe and elsewhere to develop the core strengths of the company.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
UK weather: Warning for more snow and ice as freezing temperatures and gales hit Britain
Stoke-on-Trent becomes first British city to be classified as 'disaster resilient' by the United Nations
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Immigrants make UK racist, says Ukip councillor Trevor Shonk
Millions of Britons struggling to feed themselves and facing malnourishment
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
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