Archive | November, 2014

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Poundland profit up 12%; on track for store opens

LONDON–Poundland Group PLC (PLND.LN), a retail chain, on Thursday reported a 12% rise in half year pretax profit and said it remains confident of further progress throughout the year.

Pretax profit in the 26 weeks ended Sept 28 rose to 9.3 million pounds ($14.6 million) from GBP8.4 million in the same period last year. Underlying pretax profit was up 34.2% at GBP12.6 million, while total sales rose 15.0% to GBP528.2 million.

The company declared an interim dividend of 1.5 pence per share and said it is on track to open 60 net new stores in the U.K. and Ireland in fiscal 2015.

Shares closed Wednesday at 310.0 pence.

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Rémy Cointreau profit down 25% on Chinese slump

PARIS– Rémy Cointreau SA said Thursday that net profit fell 25% in the first half of its financial year as the French drinks maker continues to battle a slump in demand from Chinese consumers.

The maker of Rémy Martin cognac said net profit fell to EUR64 million ($80 million) from EUR85.5 million as cognac sales continued to drop sharply in its crucial Chinese market. Excluding the effects of currency swings and an expired distribution contract in the U.S., profit fell 14%.

Operating profit fell 23% to EUR102 million. Rémy reported last month that sales fell 16% in the first six months ended Sept. 30.

Europe’s largest drinks makers have been hurt by falling sales in China amid the government’s roughly two-year-old austerity campaign, which banned extravagant gift-giving among officials, pressuring sales of expensive bottles of liquor.

Rémy Cointreau has been among the hardest hit, due to its high exposure to the Chinese market. The company makes over half of its sales and profit from its flagship Rémy Martin cognac.

Drinks makers have seen some improvements of late though. Sales fell less sharply in the most recent quarters and Rémy’s larger rival Pernod Ricard SA last month said it expects sales in the country to continue to improve gradually in the months to come.

Despite weak data in the first half of the fiscal year, Rémy said it still targets organic growth both in sales and operating profit in the full year. This target excludes the loss of a distribution contract in the U.S., which would have weighed on sales further.

–Inti Landauro contributed to this article.

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Telecorp Inc – TLNUF

Company Overview

Telecorp offers a variety of products and services for many individuals and businesses. Solutions that address communication needs and message delivery. Telecorp offers the best solutions for customer communication, prospecting and customer contact through “State of the Art” technologies. Through some of the best innovations on the market today.

Powerful Solutions that Work…

  • Medical and Healthcare Solutions
  • Sales, Customer and Business Solutions
  • Dealerships – Repair Automotive Solutions
  • Retail – Sales and Marketing Solutions
  • Hair Salons, Spas and Health Clubs
  • Dental, Veterinarians and Optometrists
  • Government, Politicians, Schools and Law
  • Banks, Insurance Companies and Brokers
  • Hotels, Resorts, Motels and Restaurants
  • Pharmacies, Hospitals and Clinics

What They Do

Telecorp offers its client a variety of On Demand Services that will make any office work more efficiently. From sales tools that will increase performances 30% or more to customer communication tools that will save you and your staff time and money. The “Return on Investment” is immediate and the results are spectacular.

Contacting and staying in touch with your clients is critical in today’s market. Telecorp offers tools and solutions that are not only very easy to use; they improve your bottom line from day one.

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Redbox raising DVD rental price by 25%

Redbox is raising its DVD rental price by 25%, in a move that could improve the company’s stagnant bottom line and help the Outerwall Inc. unit invest in new technology.

At the same time, Redbox OUTR, +7.33% is launching a recommendation engine similar to the one that has contributed to the success of competitor Netflix Inc. NFLX, -1.05% by steering customers to movies and TV shows they are likely to enjoy.

“Creating a business plan that allows us to make these investments in the future is important,” said Redbox President Mark Horak, who said the company also is investing in mobile technology and the more efficient stocking of its kiosks, which are located in grocery stores and other businesses.

Beginning Dec. 2, DVD rentals will cost $1.50 a night, up from the current $1.20. Blu-ray disc rentals will rise to $2 a night, from $1.50, a 33% increase.

Much of Redbox’s appeal rests in its low prices, making increases risky. However, the fee still will be about one-third of video-on-demand rentals, which typically cost at least $5 for new releases.Subscription streaming services like Netflix, meanwhile, offer mostly older titles, not the recent releases available from Redbox.

An expanded version of this report appears at


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Petrofac warns on net profit on lower oil price

LONDON — Petrofac Ltd. warned investors on Monday that it will report net profit at the lower end of its forecast earnings range this year, the latest sign of how falling oil prices are unsettling the oil-services sector.

Petrofac PFC, -25.57% said that net profit is likely to fall again next year because of the weak oil market and problems at some of its projects.

The company which designs, builds and operates oil and gas infrastructure said it would turn in profit at the lower end of the $580 million to $600 million range provided in previous guidance. Petrofac reported net profit of $650 million in 2013.

But based on latest expectations of future oil prices, the company’s integrated energy services unit would likely report around $45 million less in net profit next year “compared with previous guidance and current market expectations,” Petrofac said.

“This has been a difficult period for Petrofac and the industry,” said Ayman Asfari, Petrofac’s Chief Executive.

“In the main our project portfolio is in good shape, but it is clear that on a small number of projects our execution has fallen short of the high standards we set for ourselves,” Asfari said.

Petrofac had undertaken “robust action” to address the problems at the projects, leaving the company on “a surer footing,” he added.


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Analytica Bio- Energy Corp – ABEC

The manufacturing industry has taken dramatic shifts from traditional methods of manual operations. To keep with the ever changing times manufactures have moved into technology operated empires. With change come new obstacles. Automated and mass production in the majority of manufacturing produces more wastewater.

Industrial Wastewater in itself is a hazardous substance. Toxic chemicals cannot be disposed of into sewers, rivers, or lakes. When left unchecked these chemicals destroy all life form in the waterways, plus endup in the water we drink..

Analytica Bio-Energy Corp. has developed new patented technology; technology that removes all toxic and hazardous chemicals prior to disposal.

Analytica’s equipment manufacturing process undergoes continuous and rigorous scrutiny during manufacturing, and assembly, Quality control inspections, and our highly trained and experienced work force insures the highest quality start to finish.

Analytica Bio-Energy Corp. has developed new patented technology; technology that removes all toxic and hazardous chemicals prior to disposal. Industrial Wastewater in itself is a hazardous substance. Toxic chemicals cannot be disposed of into sewers, rivers, or lakes. When left unchecked these chemicals destroy all life form in the waterways, plus end up in the water we drink. Industrial Wastewater must be treated prior to disposal. With change come new obstacles. Automated and mass production in the majority of manufacturing produces more wastewater. Analytica Bio-Energy Corp. specializes in the manufacturing of highly efficient industrial wastewater purification systems.

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Intel sees 2015 revenue up in mid single digits

SANTA CLARA, Calif.– Intel Corp. projected more growth next year, as an improving personal computer market and newer bets pay off for the big chip maker.

The company, which reported 8% revenue growth in the third quarter, said revenue would grow in 2015 by percentages in the “mid single digits.”

Intel, which released several projections at an annual meeting with analysts here Thursday, predicted that its closely watched gross profit margin would contract somewhat. The company had projected the figure at about 64% in the fourth quarter; it put the figure Thursday for all of 2015 at 62%, plus or minus two percentage points.

The company put total spending for 2015 at about $20 billion, with spending as a percentage of revenue down. It put capital spending at $10.5 billion.

Intel also said it would boost its dividend by six cents a share on an annual basis, bringing the total payout to 96 cents a share.

The company’s stock jumped on the projection. Shares recently traded at $35.38, up 3%.

Intel’s projection was issued following presentations by executives including Andy Bryant, Intel’s chairman, and Brian Krzanich, its chief executive. Both vowed to reduce the steep operating losses recently posted by a unit that produces chips for mobile devices. In the fourth quarter, that group posted a loss of $1 billion on revenue of just $1 million.

Mr. Bryant said the red ink was viewed as a necessary outcome of Intel being late to providing chips for tablet computers. Mr. Krzanich has vowed to put Intel chips in more than 40 million tablets in 2014, a goal that forced the company to give costly subsidies to hardware makers.

“This is the price you pay for sitting on the sidelines for a number of years and then fighting your way back into a market,” Mr. Bryant said. “We will improve this. We will get back in.”

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Perry Ellis earnings hurt by shipping delays

Perry Ellis International Inc. said delays in shipping at West Coast ports hurt its third-quarter results, as the struggling clothing company continues to be beset by pressures to explore a buyout.

Though the company’s loss narrowed, sales dropped and results missed expectations.

The company’s shipping snaufus echo issues faced by Ann Inc., which owns the Ann Taylor and Loft stores, and other apparel companies this fall.

The twin ports at Los Angeles and Long Beach handle the lion’s share of imports from Asia arriving at the West Coast. But they have been hit by labor and equipment issues, and the troubles are adding weeks to deliveries during the peak season for imports as retailers stock up ahead of the holidays.

Beyond those pressures, The Wall Street Journal reported last week that Sequential Brands Group approached Perry Ellis about a possible takeover in light of the Florida-based company’s difficulty remaining competitive. The company has said it is running a review of its brands and plants to exit low-growth businesses.

Perry Ellis, which became popular in the 1990s, is more recently seen as a dusty brand in the fashion community, especially compared with other brands that emerged around that time.

Meanwhile, Legion Partners LLC and the pension-fund giant California State Teachers’ Retirement System, or Calstrs, made public this week a letter they had sent a letter to the company’s board a month ago, urging it to run a formal sales process. Together, they own about 6.3% of the company.

In all, Perry Ellis posted a loss for the quarter ended Nov. 1 of $437,000, or three cents a share, narrowing from a year-earlier loss of $3 million, or 20 cents a share. Excluding special items, earnings rose to 3 cents a share from a loss of 15 cents the year before.

Sales dropped 5% to $211 million from $222 million the year earlier.

Analysts had expected a profit of 6 cents on revenue of $215 million, according to Thomson Reuters.

In the most recent quarter, increases in the accessories and international segments offset planned reductions in the Perry Ellis and Rafaella collection sportswear. In addition, there was strength in the Original Penguin brand and the Callaway golf brand.

The company backed its guidance for the year.

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Target beats own estimates with surprise profit

Target Corp. posted a surprise increase in third-quarter profit as sales in the U.S. topped the company’s own expectations, a promising start to the tenure of new Chief Executive Brian Cornell who’s trying to restore luster to the big-box retailer.

Target’s profit rose 3.1% in the period as sales at established U.S. stores rose 1.2%, ahead of the company’s August projection of same-store sales rising up to 1%. Target saw strong results at the beginning and end of the period, with shoppers spending during the back-to-school season and in the weeks before Halloween.

Target is trying to dig itself out of a multiyear funk, as shoppers visited the retailer less often because of uninspiring merchandise and fewer new products. Shopping habits changed, too, as more people found they could easily make their purchases online, cutting into visits made to retailers like Target.

Mr. Cornell is leading the turnaround. Hired from PepsiCo Inc. this summer, he has pledged to focus on critical categories like fashion, furniture, baby items and beauty products that Target hopes can help it stand out.

Target’s results come a week after the rival big-box chain Wal-Mart Stores Inc. reported a surprising sales increase for its third-quarter, as shoppers had more cash to spend because of lower gas prices.

Yet like Wal-Mart, Target continues to face the challenge of fewer shoppers coming into their stores. The number of shopper transactions in the U.S. fell 0.4% in the third quarter, marking eight straight periods of declines.

It is also struggling to salvage a botched expansion into Canada, where inventory issues have left shelves bare and prices have been criticized as too high. Sales at established stores rose just 1.6% in the third-quarter, as last year got a boost from fanfare surrounding new stores. But Target lost another $211 million in Canada this past quarter, bringing overall losses past the $2 billion mark since starting up there last year.

Overall, Target reported earnings for the quarter ended Nov. 1 of $352 million, or 55 cents a share, up from $341 million, or 54 cents a share, a year earlier. Excluding data breach expenses and other items, per-share earnings declined to 54 cents from 56 cents last year.

The profit topped Target’s August forecast for per-share earnings between 40 cents and 50 cents.

Sales rose 2.8% to $17.73 billion, topping the $17.56 billion expected by analysts polled by Thomson Reuters.

Margins fell to 29.5% from 30% a year earlier because of increased promotions.

Target tightened its earnings outlook and now expects per-share earnings of $3.15 to $3.25 for the full year, compared with a prior outlook for $3.10 to $3.30.

Target shares, up 1% over the past year, rose 3% in early trading to $69.55.

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Mallinckrodt sales boosted by product acquisitions

Mallinckrodt Pharmaceuticals PLC said growth in its specialty pharmaceuticals segment, driven mostly by acquisitions, led to a 45% jump in revenue in its September quarter.

The results beat expectations.

Mallinckrodt, like many other companies, has sought to grow through acquisitions. The pharmaceuticals company, which spun off from Covidien PLC, closed its $5.8 billion deal to buy Questcor Pharmaceuticals Inc. in August. It had earlier purchased pain-treatment company Cadance Pharmaceuticals Inc. for $1.3 billion in cash.

The results in the latest quarter were driven by two new injections added to the portfolio through these acquisitions, as well as continuing strength in the base specialty controlled substance generics portfolio.

For the fourth quarter ended Sept. 26, the company reported a loss of $352 million, or $4.14 a share, compared with a year-earlier profit of $33.5 million, or 58 cents a share.

But excluding restructuring charges and a write-down in the global medical imaging segment, the company posted earnings of $1.68 a share, compared with 98 cents a share a year earlier.

Revenue rose to $789 million from $545 million.

Analysts had recently projected $1.41 a share in earnings and $758 million in revenue, according to Thomson Reuters.

Revenue in Mallinckrodt’s specialty pharmaceuticals business rose 86% to $565 million. Sales in the medical imaging segment, however, declined 6.8% to $213 million.

For 2015, it predicts per-share earnings, excluding special items, will grow nearly 40% to $6.70 to $7.20 with revenue up nearly 50% to $3.65 billion to $3.75 billion. Analysts are calling for $6.78 a share on revenue of $3.7 billion.

Shares have soared 70% this year.

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