The Business Matrix: Wednesday 9 January 2013

Samsung rings up more huge profits

Bumper Christmas sales of smartphones and tablets have helped Samsung to notch up a fifth consecutive quarter of record profit. The world's biggest maker of smartphones said that operating profits between October and December had jumped 89 per cent to 8.8 trillion won (£5.2bn).

Internet shoppers aid postal firm

UK Mail did better than it expected in the past three months as internet shopping for Christmas helped push the volume of packages it delivered up a fifth on a year earlier. Underlying revenues rose by 8 per cent. The firm said it had managed peak Christmas volumes well but is braced for a challenging 2013.

Japan's MEC makes property swoop

The Business Secretary, Vince Cable, and thousands of civil servants have become tenants of Japanese property firm Mitsubishi Estate Company after it snapped up the headquarters of the Department for Business, Innovation and Skills in Victoria Street The building is let to the Government until 2021.

Lakeland plots Saudi expansion

A Lake District-based retailer that sells plastic banana guards and cake tins is taking its cookware to Saudi Arabia. Lakeland, which has more than 60 stores in the UK, is stepping up its Middle Eastern expansion and plans to double its seven stores in the region. It operates in Dubai, Oman, Qatar, Abu Dhabi and Bahrain.

Tesco on the mend after sales push

Tesco grew its core grocery sales significantly ahead of Sainsbury's, Asda and Morrisons in the run-up to Christmas, in the latest sign of a turnaround in its UK business. Tesco delivered a 6.7 per cent leap in food and drink sales over the four weeks to 23 December, according to KantarWorldpanel.