Kingfisher unit's strong growth leads to accelerated expansion

Article Abstract:

Kingfisher, a do-it-yourself products retail chain, intends to invest 750 million pounds sterling, or $1.3 billion, into its growth strategy despite predictions of duller economic growth. The investment is meant to foster long-term growth amidst expectations of the economy's short-term impact on the home improvement industry. The company will be developing 125 new warehouse outlets that will produce 20,000 jobs because the 30 existing warehouse outlets posted dynamic performances. The industry expressed optimism about the company's success in the face of news about the economy.

Comment:

Intends to invest 750 million pounds sterling or $1.3 billion into its growth strategy despite duller economic growth in future

Capital expenditures, Do-It-Yourself Building Materials (Ret, Home Centers, Kingfisher PLC, Home center stores

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Ladbroke Must Sell Coral; Anticipation Boosts Shares

Article Abstract:

According to the British antitrust regulators, Ladbroke Group PLC must sell Coral. Ladbroke is a major off-track betting company in England. Coral, also an off-track U.K. betting service, must be sold within six months. Ladbroke said it will comply, as it is already lining up possible buyers. Ladbroke even hopes to make a profit on the sale. Stock prices in Ladbroke increased as a result of the news, but are still down from their June peek. While part of Ladbroke, Coral added 17.1 million pounds to the corporation's half-yearly earnings of 123.7 million pounds.

Casinos, Casinos (except Casino Hotels), Ladbroke Group PLC, Coral

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Racal sells most of data unit, posts loss

Article Abstract:

UK-based Racal Electronics PLC has sold most of its multimedia products and services division. However, the company has been pushed into losses due to the costs of selling the data-communications unit. The electronics and defense group also said that it is expecting stagnant sales and margins in the next fiscal year due to the increasing competition in the telecommunications market, difficult Asian markets and higher development costs. Meanwhile, the company is keeping its data unit's profitable security and payment operations.

Comment:

Has sold most of its multimedia products and services division

Facilities & equipment, Other Electrical Equipment and Component Manufacturing, Electronics, Racal Electronics PLC

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