Company News Reporter, London
Neil's Feed
Jun 26, 2013

Tennis-Frenchman Tsonga adds to Wimbledon injury woes

LONDON, June 26 (Reuters) – Frenchman Jo-Wilfried Tsonga joined a long list of casualties at Wimbledon on Wednesday when he retired injured while trailing Latvia’s Ernests Gulbis in his second round match.

Day Three of the championships had already been blighted by a spate of injury withdrawals when a troublesome knee forced the sixth seed to throw in the towel just before the fourth set in a match he was losing 6-3 3-6 3-6.

Jun 19, 2013

Workers at Royal Mail vote against sell-off

LONDON (Reuters) – Royal Mail workers backed union opposition to plans to privatise the state-owned postal group on Wednesday, a stark reminder for potential investors that there will be no warm welcome if and when the company changes hands.

The Communication Workers Union (CWU) sent consultative ballot papers to 112,000 Royal Mail postal workers. It said, from a 74 percent turnout, 96 percent opposed government plans to sell the firm this financial year in Britain’s most significant privatisation in decades.

Jun 19, 2013

Workers at Britain’s Royal Mail vote against sell-off

LONDON, June 19 (Reuters) – Royal Mail workers backed union
opposition to plans to privatise the state-owned postal group on
Wednesday, a stark reminder for potential investors that there
will be no warm welcome if and when the company changes hands.

The Communication Workers Union (CWU) sent consultative
ballot papers to 112,000 Royal Mail postal workers. It said,
from a 74 percent turnout, 96 percent opposed government plans
to sell the firm this financial year in Britain’s most
significant privatisation in decades.

Jun 13, 2013

TNT Post steps up rival UK delivery service to Royal Mail

LONDON, June 13 (Reuters) – Britain’s second largest postal
firm TNT Post will expand deliveries in London next week, in its
latest move challenging state-owned Royal Mail’s dominance.

TNT Post, which is owned by Dutch mail group PostNL
and handles 3.8 billion items a year in the Britain,
wants to deliver business post to doorsteps across the UK in
five years time.

Jun 13, 2013

Mulberry defends price rises as pins hopes on Asia push

LONDON, June 13 (Reuters) – British luxury fashion group
Mulberry defended its plans to move further upmarket,
saying it was crucial to expansion plans in Asia, where local
shoppers and outbound tourists are still spending heavily on
top-end lines.

Mulberry, known for its Bayswater and Alexa handbags, makes
over 80 percent of its sales in Britain and continental Europe,
and has been hit hard recently by weak consumer spending there,
as well as cooling demand from Chinese shoppers and tourists.

Jun 11, 2013

Britvic plays down chances of reviving AG Barr merger

LONDON (Reuters) – British soft drinks maker Britvic Plc (BVIC.L: Quote, Profile, Research, Stock Buzz) played down the chances of resurrecting merger talks with smaller rival A.G. Barr Plc (BAG.L: Quote, Profile, Research, Stock Buzz), after the proposed deal was finally given the blessing of the competition watchdog.

Irn Bru-maker A.G. Barr and Britvic, behind the Robinsons and Tango brands, had agreed an all-share merger in November, which lapsed in February when the Competition Commission launched its investigation.

Jun 6, 2013

G4S’s new chief pins hopes on cost cuts, developing markets

LONDON, June 6 (Reuters) – The new boss at G4S, the
world’s biggest security group, will cut costs and push deeper
into fast growing developing markets as he battles to restore
the company’s image after a high profile staffing blunder at the
2012 Olympics.

Ashley Almanza addressed G4S’s annual shareholder meeting on
Thursday after a roller-coaster start to life at the company,
becoming chief executive six days ago having only joined as
chief financial officer last month.

May 29, 2013

Topps Tiles cuts profit forecast as trade worsens

LONDON, May 29 (Reuters) – Topps Tiles, Britain’s
largest specialist tile retailer, trimmed its annual profit
guidance after trade took a turn for the worse and left it
cautious about demand improving this year.

The firm had hoped cost cuts and second-half underlying
sales growth would see it meet analysts’ average full-year
pretax profit forecast of 13.3 million pounds ($20 million).

May 23, 2013

Halfords slashes dividend to fund 3-year investment plan

LONDON, May 23 (Reuters) – Cycles-to-car-parts retailer
Halfords has cut its dividend by a third to help fund a
multi-million pound investment programme, warning this would
keep earnings below last year’s level for the next two years.

Shares in the British company, up sharply in the past month,
slumped to a six-week low of 320 pence and were down 15 percent
at 336p by 1049 GMT.

May 21, 2013

Royal Mail profit soars before privatisation

LONDON, May 21 (Reuters) – Britain’s Royal Mail more than
doubled annual profit on the back of an online shopping boom,
providing a timely boost as it plans for a stock market listing
this year.

In a marked turnaround for a business that has been fighting
to adapt to a more competitive market and falling letter
volumes, Royal Mail reported adjusted operating profit of 403
million pounds ($613 million) in the year to March 31, against
152 million pounds a year earlier.

    • About Neil

      "I'm a company news reporter covering the retail and leisure sectors. Based in London I write on everything from the big retailers to fashion chains, hotels, drinks firms, pubs and coffee shops. I've previously covered the outsourcing sector and before that worked on Reuters sport for three years. You can follow me on Twitter @ReutersMaidment"
      Joined Reuters:
      2008
    • More from Neil

    • Contact Neil

      Phone:
      0207 542 2292
    • Follow Neil