Firth takes to the air to offset steel slump
Article Abstract:
The Yorkshire stainless steel company Firth Holdings, has witnessed problems due to the strength of the pound and having to drop the price of its main products by 40%. The strong pound resulted in a reduction in steel profits of GB 1.4mn and forced stainless steel prices down by 18%. As a result the company saw its profits for the year to March 1998 fall by GB 0.7mn to reach just GB 1mn. The GB 51.1mn made in sales and a 65% rise in stainless steel plate exports did nothing to help reverse the situation. The company's aircraft repair management business Airinmar, received GB 1mn in investment, and it is hoped that the business may become Firth's lifeline in the future. In 1997 Airinmar raised sales from GB 12.2mn to GB 22.8mn and has continued to win valuable contracts.
Comment:
Profits for yr to 3/98 decreases by GBP0.7 mil to GBP1 mil due to the strength of pound & drop in prices of main prods
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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UK: PEACOCKS REVEALS STRONG RESULTS
Article Abstract:
Peacocks, the UK-based clothing discount chain, has announced strong interim results to 30 September 2000, with a 38% rise in pre-tax profits. Richard Kirk, the company's chief executive, said the trend was towards the value sector, with shoppers increasingly looking for value, a good shopping environment, good prices and good customer service. Peacocks remains on track to open a further 35-40 stores in the current year. Table: Peacocks Figures in GBu mn Current Previous/Change Turnover 106.9 88.1 21.33% Pre-tax Profits 4.57 3.3 38.48%
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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Falling returns threaten Lloyd's financial strength
Article Abstract:
Between 1995 and 1997 the UK insurance market Lloyd's of London saw a fall in its overall rate of returns from 18% to 8% and if this fall continues its A-Plus credit rating from Standard & Poors could be under threat. Heavy losses between 1988 and 1992 and a resulting reconstruction programme severely damaged the financial standing of Lloyd's, which needs to preserve its high credit rating in order to attract business.
Comment:
Experiences fall in its overall rate of returns from 18% to 8% between 1995 & 1997
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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