UK: HEYWOOD WILLIAMS ANNOUNCES RESULTS

Article Abstract:

As it revealed its full year results for 1999, building materials concern Heywood Williams has announced the departure of its director and chief executive, Michael Broadhead. The move is part of a campaign to develop the firm at faster pace, achieving greater operational efficiencies. The company will now seek to replace Mr Broadhead, who had been there since 1975. Table: Heywood Williams Figures in GB[pound] mn (1999) Current Previous/Change Turnover 662.4 690.1 -4.01% Pre-tax Profits 45.7 63 -27.46%

Metal Doors, Sash & Trim, Metal Window and Door Manufacturing, Appointments, resignations and dismissals, Metal products industry, Metalworking industry, Metal windows, Sashes (Building materials), Broadhead, Michael, Williams, Heywood, Heywood Williams Group PLC

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UK/US: HEYWOOD TO OFFLOAD US ARM

Article Abstract:

UK-based building materials group, Heywood Williams, has announced plans to offload its US operations, in order to refocus attention on its core UK business. Heywood has US interests in plastic pipes, manufactured houses and fittings for mobile homes. Analysts believe the divestment could generate up to GB[pound] 150mn, with most of it being returned to shareholders, although some of the funds could be invested in new acquisitions. Heywood has just announced its half-year results, for the period to 30 June 2000, with UK operating profits down from GB[pound] 8.9mn to GB[pound] 6.3mn. Conversely its US operations recorded improved results, with operating profits rising from GB[pound] 11.6mn to GB[pound] 13.6mn, causing some speculation amongst analysts as to why it would want to offload its best performing businesses.

United States, Sales, profits & dividends, On-Line Information Services, Sales & consumption, Videotex & Teletext, Telegraph & other communications, Planning, Online services, Internet services

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'I don't see it's harming anyone's interest if I want to buy a lawnmower on a Sunday.'

Article Abstract:

B&Q Chief Executive Bill Whiting expresses admiration for people who work very hard for relatively little pay. He indicates that he dislikes having to dismiss nice people.

Do-It-Yourself Building Materials (Ret, Home Centers, Home center stores, Interview, Do-it-yourself products industry, B and Q PLC, Whiting, Bill

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