Ian Pollard: HSBC Pays The Penalty – Yet Again

HSBC has had to cave in and pay yet another huge penalty to fend off claims in the US of widespread fraud and corruption. It took the benighted bank some ten years until 1916 before it had the grace to cough up and agree to pay compensation to US customers to whom it brought financial […]

Ian Pollard: Bellway Enjoys Inflation Beating Price Increases

Bellway BWY updates that it has broken through the 10,000 homes barrier for the first time in its history, with an increase of 6.9% to a total of 10,307 for the year to the 31st July. Market conditions have remained favourable, trading and customer confidence have been robust, enabling the average selling price to be […]

Ian Pollard – Burberry #BRBY Forced To Adopt Meaningless Jargon

Burberry Group BRBY   claims to have completed global roll out of new digital clienteling tool. Despite this first quarter comparable sales have grown 3%, which it finds pleasing.Even worse in the jargon stakes it is engaging consumers with frequent and sometimes unexpected “drops of fresh product”.  The final insult to the intelligence of its […]

Ian Pollard – Rolls Royce impacted by engine issues.

Rolls Royce Holdings RR 2017 was a year of strong recovery, with financial result ahead of expectations. Underlying organic revenue for the year to the 31st December rose by 6%, profit before tax by 25% and earnings per share by 27%. The results were however impacted by the challenge and cost of managing what it […]

Ian Pollard – Sainsbury Beats The Pessimists

Sainsbury J plc SBRY expects full year underlying profit before tax will be moderately ahead of published consensus after a strong third quarter produced a rise of 1.1% in like for like sales, excluding fuel, for the 15 weeks to the 6th January. Groceries online and convenience saw growth of 8.2% and 7.3% respectively leading […]

Countryside Props. Slashes House Prices

Countryside Props CSP did what for a house builder, is the  unthinkable, it slashed its average selling prices with the result that for the year to 30th September, completions rose by 28% overall and the forward year end order book stood at a record level. The rise in completions was 17% in the partnership division […]

Marks Surrenders to Sainsbury

Marks & Spencer MKS is giving little away in its first quarter results for the 13 weeks to the 1st July. The subdued tone certainly seems to indicate a surrender to Sainsbury at least for the time being. The quarter did at least see an end to discounting in Clothing & Home, whilst Simply Food […]

RWS Becomes A Major Global Player

RWS Holdings RWS After a strong first half performance, record revenues of not less than £76m are expected for the six months to 31st March, a rise of 33% on 2016. Adjusted profit before tax is expected to show a rise of 36.7%. Following the acquisition of LUZ in February, integration of which has proceeded […]

TUI In Line For 2016 Gringlish and Jargonish Prize

TUI AG (TUI) appears to have ignored the basic principle that its financial reports should be written in a language which is understandable by a good number of its shareholders. At least the tables are clear in the third quarter interim report which shows turnover down by 5.7%, net profit up by 116.4% and like […]