Financial Reports - In Brief

27 November 2003

Carlton Communications (full year)
In the year ended September 30, annual profits before exceptional items rose 68% to £60 million ($102.04m; €85.92m), while annualised costs plunged £19m, with permanent staff numbers down by 290.
    Carlton expects its share of total ITV net advertising revenue to be up by 1% in the current quarter. Chairman Michael Green, himself shortly to be out of a job, praised the company's staff for working "against an unsettling and uncertain background".

Granada (full year)
Profit before tax, goodwill amortisation and exceptional items rose 10% to £179 million ($304.50m; €256.28m) in the year ending September 30, at the top end of analysts' expectations. Group turnover at £1,41m, however, was down by a marginal 0.2%.

H J Heinz (fiscal Q2)
The Pittsburgh-headquartered foods giant reported a 10% slide in quarterly profits reflecting the recent spin-off to Del Monte of its slower-growing businesses.
    Net income was $191.5 million (€161.14m; £112.55m) against $212.1m a year ago, although earnings from continuing operations, excluding profits from the spun-off assets, rose 13%.
    Declared president/ceo William Johnson: "We are pleased with Heinz' results for the second quarter, and the company's performance continues to confirm our confidence in the target ranges we set for earnings per share, net sales and operating free cashflow."

Tesco (fiscal Q3)
Total UK sales for the fourteen weeks ending November 15 were up 14.6% including 4.3% from the group's T&S Stores unit. Like for like sales were up 6.9%, driven by strong volumes of 6.6%.
    Non-food sales went from strength to strength and clothing in particular continues to grow (at more than six times the market rate) with sales up 34% in the quarter.
    International sales were up 31% in the third quarter, with all countries contributing to this growth despite some tough trading conditions. The company expects to have 189 hypermarkets operating overseas by the year end.

Data sourced from multiple origins; additional content by WARC staff