Redrow sales stable in first 18 weeks
7:32amStory provided by Business Financial Newswire...
Breaking News in association with Money AM
Wednesday, 4th November 2009
Next raises guidance
7:32amFashion retailer Next said sales in the third quarter to end-October have been better than expected.
Both Next Retail and Next Directory performed ahead of the second half guidance given in September.
Next said the consumer environment remains subdued, but has been more benign than anticipated. Our customers continue to manage their credit carefully and we have now begun to see a year on year reduction in the number of customers going into arrears on their Next Directory accounts. We believe this is a reflection of a general improvement in consumer finances.
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Aviva sales down 11%
7:32amInsurance giant Aviva said Q3 total sales and life and pensions sales both reduced by 11%.
Worldwide sales were £27bn in the third quarter.
Worldwide total sales and life and pensions sales were both reduced by 11% due to lower consumer demand and strategic actions.
Group margin was in line with full year 2008 at 2.1%.
Aviva said the outlook for 2009 total profitability remains good. The group reported a strong uplift in capital and balance sheet with an enhanced IGD solvency surplus of £3.7bn.
Marks & Spencer slashes dividend
7:17amIconic retailer Marks and Spencer said pretax profit for the half-year to 26th September was £306.7m, down slightly from £307.8m in the equivalent period last year. Total sales were up 2.8% at £4.3bn in the period, although UK like-for-like sales fell 1.9%.
Total UK sales were up 1.8% and International sales up 12.2% in the half-year.
UK like-for-like sales dipped 0.9%, with General Merchandise down 1.4% and food down 0.3%.
Operating profit was £365.0m (last year £372.4m) and adjusted profit before tax was £298.3m (last year £297.8m).
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