City&FinanceBriefing 30 Tuesday, 21 July 2009 London Lite Inbrief Sunny side up as Fuller toasts London drinkersWHEN the sun shines, Londoners are getting to the pub in force, according to the capitals last major brewer, Fuller, Smith & Turner. Speaking at the beer producer and pub companys annual meeting in the cellars of the Griffin Brewery in Chiswick today, the Fullers chairman Michael Turner reported a 2.9% increase in like-for-like sales at the pubs and hotels it manages in the 16 weeks up to last weekend. Beer sales, headed by London Pride, which has become one of the nations finest pints, but also including Fullers summer ale Organic Honeydew, are up with volumes 2% higher. In the tenanted pubs, like-for-like profits were down 1%, although that compares favourably with the performance of tied pubs in other larger quoted companies. Trading has benefited from the good weather compared to the prior year, said Turner. As the sun has shone, our customers have defied the economic gloom to come out and enjoy themselves. Turner warned, however, that the coming months might well get tougher. The outlook for the rest of the financial year remains difficult to judge, with so much dependent on the direction of the economy, he said. BY ROBERT LEA Model deal has Hornby going for Olympic gold Hobby specialist Hornby today outlined plans to make a range of toys and collectables for the London 2012 olympic Games. Products will include Airfix kits of the olympic stadium, velodrome cycling Scalextric sets, Corgi model vehicles such as London taxis and buses, and Hornby olympic Park train sets. Hornby won the licence to produce the toys and souvenirs from the London organising Committee for the olympic Games (Locog), and all the products will carry official 2012 branding. The first ranges will be launched later this year, in time for Christmas, and the licence will operate for the next three years in the run up to the Games and beyond. Locog chief executive Paul Deighton said: We are proud to be working with a truly iconic british company which can offer us a great range of products across its brands that will celebrate the Games in 2012 and live on for generations after as collectors items. Frank Martin, his counterpart at Hornby, said he hoped the deal would prove significant for the company. This is a great honour for Hornby and an important development for the group, he said. This licence represents a major opportunity for Hornby to grow our sales and extend the appeal of our products with new consumers. The first products will be on sale before Christmas this year. Next big thing is a profit lift NExT today said its sales are up thanks to sunshine and newly confident shoppers. The fashion chain said it expects profits in the first half to be 15 million higher than previously thought. It also added 15 million to its second-half forecasts -- raising hopes the recession on the High Street may be drawing to a close. Analysts upgraded targets for the full year from around 375 million to between 400 million and 405 million. Australia Dollars 1.9234 Canada Dollars 1.7316 Denmark Kroner 8.2107 Eurozone Euro 1.1061 Hong Kong Dollars 12.0700 Japan Yen 148.0900 New Zealand Dollars 2.3542 South Africa Rand 12.2400 Sweden Kronor 12.2200 Switzerland Francs 1.6804 UAE Dirham 5.6575 United States Dollars 1.5675 TouriST raTeS UP 22.76 at 4466.38 FTSe 100 dow joNeS Nikkei -$ UP 104.21 at 8848.15 UP 256.70 at 9652.02 DOWN 1.01c at $1.6445 >>For all the latest City share prices, call 0905 817 1694* or visit thisismoney.co.uk * Calls cost 75p/min from a BT landline & last approx 1 min per quote. Not all stocks are available Crisis could cost uS 14 trillion l The US governments exposure to the economic crisis could reach $23.7 trillion (14.3 trillion), according to a report published today. That would be the amount payable if all parties offered support since 2007 asked for maximum assistance, said Neil Barofsky, the inspector in charge of the Troubled Asset Relief Program (Tarp). Beer boost: Michael Turner said sales leapt in the hot weather dTZ axes divi after first loss l TRoUBled commercial property agent dTZ today axed its dividend after the recession sent it crashing to its first loss. The london-based firm reported losses of 79.7 million for the 12 months to the end of April against profits of 5.6 million the previous year. The dividend for the year was axed after the firm paid 6p a share last time around. Londoners keep eye on spending l The recession has made londoners more penny-pinching than the rest of the country, according to new research published today. A YouGov survey found one in five wants to cut the number of credit cards they own, while 60% pay more attention to spending than during the same period last year. That compares to the national average of 53%. Live music hits the right note l The British music industry grew by almost 5% last year as the popularity of live acts offset the decline in recorded music. PRS for Music (previously the Performing Rights Society), which collects royalty payments and distributes them to artists and composers, said the industry increased by 4.7% to 3.6 billion in 2008. index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html24.html25.html26.html27.html28.html29.html30.html31.html32.html33.html34.html35.html