Costas's Feed
Oct 6, 2014

Aston Martin sees small recovery as 2013 loss shrinks by a third

LONDON (Reuters) – British sportscar maker Aston Martin, famed for supplying James Bond’s cars of choice, saw its pretax loss fall by a third in 2013 on the back of rising sales and said it had seen a small rebound in demand for high-end autos.

Owned by Kuwaiti and Italian private equity groups, Aston Martin has struggled in recent years, partly because unlike other high-end British brands such as Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz)-owned Bentley it is not owned by a wider group capable of supplying investment.

Oct 1, 2014

Special Report: In foreign hands, British automakers overtake France

LONDON/PARIS (Reuters) – When Britain lost its last native car company 20 years ago, it was lamented across the political spectrum as a national catastrophe.

“The sheer stupidity and immorality of this betrayal is too scandalous to be ignored,” wrote a columnist in the conservative Times of London.

Oct 1, 2014

In foreign hands, British automakers overtake France

LONDON/PARIS, Oct 1 (Reuters) – When Britain lost its last
native car company 20 years ago, it was lamented across the
political spectrum as a national catastrophe.

“The sheer stupidity and immorality of this betrayal is too
scandalous to be ignored,” wrote a columnist in the conservative
Times of London.

Sep 29, 2014

UK housing market cools further as mortgage approvals slip

LONDON, Sept 29 (Reuters) – British mortgage approvals
slipped a three-month low in August, according to official data,
falling slightly more than expected and adding to signs the
housing market has cooled in recent months.

The Bank of England said mortgage approvals numbered 64,212
last month, the weakest reading since May and down from 66,100
in July. Analysts had forecast a fall to 65,000.

Sep 10, 2014

Barratt sees UK housing market normalising as profits jump

LONDON, Sept 10 (Reuters) – Britain’s largest housebuilder
Barratt Developments predicted a return to “more
normal” trends in Britain’s housing market as it posted more
than doubled yearly profit and said it would return 400 million
pounds ($645.1 million) to shareholders.

The group posted profit before tax of 390.6 million pounds
for the 12 months to June 30, in line with analyst expectations,
and said the average selling price of a property was up 12.9
percent to 241,600 pounds.

Sep 9, 2014

Decision to build BMW’s new electric Mini months away

OXFORD, England, Sept 9 (Reuters) – An electric version of
the Mini that will move the classic British car further away
from its original design will have to wait at least six months
for a possible green light, a BMW board member said on
Tuesday.

The new car, known as the Superleggera, was on show last
week in Britain. It is a two-door coupe, but longer and sleeker
than the traditional compact Mini.

Sep 8, 2014

Jaguar targets women and younger drivers with its cheapest car

LONDON (Reuters) – British luxury carmaker Jaguar launched its cheapest ever car on Monday, the first new model in a range designed to widen its appeal to women and younger drivers and take on bigger rivals such as BMW, Audi and Mercedes-Benz.

After years in the doldrums, Jaguar has enjoyed a new lease of life since it was bought by India’s Tata group (TAMO.NS: Quote, Profile, Research, Stock Buzz) in 2008, along with fellow British automaker Land Rover.

Aug 20, 2014

New and premium models boost UK car exports to best-ever July

LONDON, Aug 21 (Reuters) – Britain enjoyed its best July on
record for car exports, an industry body said on Thursday, as
production rose by nearly 3 percent year-on-year thanks to new
models and strong sales of top-end vehicles.

Britain built nearly 103,000 cars for export, the highest
ever for a month of July according to the Society of Motor
Manufacturers and Traders (SMMT), whose records date back to the
1920s.

Aug 18, 2014

Bovis Homes stays on track with 150 pct profit leap

LONDON, Aug 18 (Reuters) – British housebuilder Bovis Homes
is on track for a significant rise in full-year profit,
it said on Monday after a record number of completions and
improved operating margins boosted first-half earnings.

The company had virtually hit its 2014 sales target of 3,650
homes by the half-year mark and said it expects to achieve
full-year profit in line with market forecasts. Thomson Reuters
data shows that analysts expect a 60 percent rise in Bovis’s
full-year operating profit.

Aug 13, 2014

Car dealership Lookers sees full year pretax profit over 60 million pounds

LONDON (Reuters) – Britain’s fourth largest car dealer Lookers (LOOK.L: Quote, Profile, Research) said it expected to post a full-year pretax profit over 60 million pounds, above market expectations, after it saw a surge in first-half profits spurred on by record sales.

The firm, which sells nearly 120,000 new and used vehicles in Britain every year, reported adjusted pretax profit of 40.2 million pounds in the six months to 30 June 2014, up 36 percent.