London pre-open: More losses predicted

2nd Sep 2009 07:47

The gloomy start to September is set to continue, with Footsie continuing to head lower after yesterday's slide.Like for like sales fell 6% at consumer electronics retailer DSG International during the 16 weeks to 22 August, although a slightly smaller than feared drop in revenue was 'encouraging'. Total group sales fell 6% in sterling terms, with UK computing down 17% and UK & Ireland electricals reporting a 13% slump in sales.Eaga, a provider of residential energy efficiency solutions, posted a rise in profits and revenues as the trend towards green energy remained strong during the downturn. In the year to 31 May, pre-tax profits climbed to £37.7m from £28.4m over the same period the previous year as revenues rose to £738.9m from £639m.Stockbroker and fund manager Hargreaves Lansdown is to pay a special dividend raising its total payout by 29% as it defied volatile markets to increase revenues, profits and assets under management last year. Profit before tax for the year to June increased by 20% to £73.1m from £60.9m.Business and IT consultancy Charteris reiterated that it expects to break even before exceptional items in the second half as difficult trading conditions prevail. The company's cash position at the year end was around £1.5m, the group confirmed in Wednesday's trading update.Contractor Galliford Try has been confirmed as one of the contractors on Network Rail's £1bn five-year Enhancements Multi Asset Framework. The programme covers enhancement projects worth up to £15m and includes platform extensions, track, signalling, electrification, telecommunications and other projects to help expend the rail network's capacity.Great Capital Partnership, Great Portland Estate's joint venture with Liberty International subsidiary Capital & Counties, has sold Spirella House, near Oxford Circus in London's West end, to Calzedonia for £22.9m. The price agreed is 12.5% ahead of the March 2009 book value and reflects an equivalent yield approaching 5%.