Redrow Predict to Move out of Red
Redrow predicts that it will move out of the red for the very first time in the three years due to the slight recovery in the property market.
The flintshire-based house constructors, which saw losses of £8.7 million in the last half of 2009, is expecting to complete more than 2500 sales in 2010, which is up on the 2113 in its last financial year.
Take-off for UK Firms
UK Trade & Investment, the Governement body tasked with helping British firms crack overseas markets, also offers grants to British businesses that want to attend overseas trade fairs.
Now UKTI is unveiling a new perk: 5000 free international flights for British SMEs, courtesy of British Airways. The scheme is designed to help SME owners who are relatively new to exporting.
The tickets are available for qualifying firms, including those participating in UKTI’s Gateway to Global Growth drive.
Celebs Lose BP Fight
BP is to go on its controversial Canadian tar sands project, in spite of opposition from celebrities including Alistair McGowan and Radiohead’s Thom Yorke.
BP won a vote opposing a special resolution put forward by 140 shareholders at its annual meeting in London’s Docklands.
Debenhams Profits Soar
Department store—Debenhams saw its profits rise by 18.6% in the past six months. The retailer said that the pre-tax profits beat market expectations, jumping to £123.6 million in the half year to February 27th, compared to the figure of £104.3 million in the same period in 2009.
The chain is refurbishing stores as part of its move away from concessions towards more profitable own-brand ranges like Jasper Conran and Betty Jackson.
ASDA Has Started its Hunt for a New Bond
ASDA ha started the search for a new chief executive after it announced that Andy Bond is to move to a par-time role as chairman.
The supermarket giant said that its US parent Wal-Mart was looking internally and externally for a replacement for Mr. Bond, who will stay in the role until a successor is found.
Survey Indicates YouGov Profits Down by 42%
Polling company YouGov has seen profits drop by 42% in the six months to February, but predicts a boost in the run-up the general election.
Pre-tax profits sank to £1.4 million after good trading in the UK, the US and Germay were offset by poor performances in the Middle East and Scandinavia.
Chocks Away for BA-Iberia
The Merger between British Airways and Iberia is set to take off by the end of this year. The deal, which will create one of the world’s larglest airline groups, will be subject to pre-flight checks by competition authorities before shareholders can get on board.
The combined company, dubbed International Airlines Group, would have a fleet of 408 aircraft, carrying more than 58 million passengers every year. According to analysts, it is said that the flag carriers of UK and Spain would retain their existing operations and continue to use their individual brands under the tie-up.
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