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Morning Eyecatchers: Tesco Q1 international sales up 11.9%; UK sluggish
Bellway trading in line, Alexon trading broadly satisfactory, Ted Baker 18% increase in group revenue, Cinven confirms it may bid for Spice and Healthcare Locums no longer in offer talks.
Markets
* Tesco first-quarter group sales ex-fuel/VAT up 0.1%; international sales up 11.9% at actual exchange rates, excluding petrol; operationally business performing in line with expectations; outlook for year as a whole remains unchanged; continuing to see evidence in UK of steady consumer recovery; says any VAT hike shouldn't be until 2011
* Record pre-tax profit £16.7 million, down 38%; management fee income £33.2 million, down 27%; performance fee income £200,000, down from £1.4 million; total dividend for year unchanged at 4.59p
* Alexon trading since year end has been broadly satisfactory; group like-for-like sales for the 19 weeks ended 12 June down 5.4%; margins experienced a small negative impact during the period; now agreed a further four surrenders, two assignments and two temporary lets; total online sales during period up 135%
* Ted Baker 18% increase in group revenue for 19 week period from 31 January to June 12; retail sales for the period were 20.4% above the same period last year; trading in UK has continued to perform well and the improved trend in overseas markets has continued
* Bellway trading in line; do not see any changes to numbers and guidance; since election there has been a slight reduction in both visitor levels and weekly sales rates
* Healthcare Locums no longer in offer talks
* Cinven confirms it may bid for Spice
* OFT urges radical approach to pawnbrokers and high-cost lenders
* Uniq trading in line; five month sales up 6.9%
* Nationwide Accident trading encouraging
* Victoria full-year profit lower; maintains dividend
* NWF trading ahead of market view
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