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Morning Eyecatchers: BA swings back to profit of £158mln

WPP Q3 like-for-like revenue up 7.5%, but clients still concerned about 2011, F&C sees investments and AUM increase in Q3 and Lookers and Hunting issue upbeat forecasts.

 * WPP Group Q3 like-for-like revenue up 7.5%, up 4.1% in nine months; has a good fourth quarter in prospect but clients still concerned about 2011; Q3 reported revenues up 12% to £2.25 billion; on course to exceed full-year operating margin target of 1.0 margin point improvement; net new business billings of £880 million won in Q3; operating companies believe like-for-like revenue growth in 2011 may be similar to 2010

 * WPP Digital invests $5 million in Facebook company

 * British Airways continues to focus on managing costs; pre-tax profit £158 million vs loss £292 million; revenue up £345 million due to improved yields -- operating profit of £298 million vs loss £111 million; quarter 2 operating profit £370 million vs loss £17 million; yields improved by 17.2%, 14.4% excluding the impact of exchange; no dividend; outlook positive but economic environment continues to be subject to uncertainty

 * Iberia swings to nine-month net profit

 * F&C Asset Management assets under management increased by £12.9 billion to £108.2 billion; $4.2 billion of AUM added in September through the acquisition of Themes River Capital -- net new business inflows, excluding acquired assets, of $0.6 billion; pipeline of new business awaiting funding of $1.6 billion at 30 September

 * AstraZeneca and Daiichi Sankyo reach Nexium deal in Japan

 * Xstrata wins approval for George Fisher mine extension

 * OFT starts merger probe of Ryanair's Aer Lingus stake: Ryanair says probe is too late

 * Lookers sees year results ahead of its expectations

 * Hunting says it will exceed full-year market expectations

 * Forth Ports sees full-year trading in line; ports unit ahead

 * John Lewis weekly department store sales up 9.7%; Food group up 10.6%; total sales up 10.2%

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1 comment so far. Why not have your say?

Christopher

Oct 29, 2010 at 11:12

Thanks Phil always nice to ds the headlines

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