By Huw Jones LONDON (Reuters) - KPMG has been fined 875,000 pounds ($1.09 million) for its audit of lighting manufacturer Luceco (LON:LUCEL) for its financial year to Dec. 31,...
Company news kicks into a higher gear in the coming week, with updates from three FTSE 100 housebuilders, retailers of recently contrasting fortunes WH Smith (LON:SMWH) and...
Markets obviously expected a positive trading update given the rise up to it; and there were positives in the statement: margins have been restored overseas growth is buoyant & debt has reduced. But they are not out of the woods yet. Debt is still high. Total sales has fallen slightly in a market which should be growing strongly; and there seems to be a bit of guessing about why sales in the UK have dropped: de-stocking by retailers is plausible, but if that is the main reason we should see a rebound fairly quickly. On a PE of under 10 in a strong growth market, the concerns are more than adequately priced in, so I think on the whole I'd class it as a buy