Blur’s Alex James plays King of the farmyard in Canary Wharf April 9, 2014 KING may be in its post-IPO quiet period but the games-maker made a pretty loud statement in Canary Wharf yesterday. In a bid to push its latest game, Farm Heroes Saga (think Candy Crush but um, on a farm) King’s marketing whizzes set up a farm pop-up outside the station. It came with all of [...]
Seplat launches £301m London and Lagos float April 9, 2014 NIGERIAN oil and gas explorer Seplat yesterday said it has raised £300.9m in its initial public offering in London and Lagos, valuing the company at around £1.14bn. The deal is London’s biggest oil industry flotation in years and will provide a significant boost for Nigeria’s energy sector, which has seen an exodus of international players [...]
City Moves for 10 April 2014 | Who’s switching jobs April 9, 2014 Baker Tilly The law firm has announced the appointment of Adam King as head of tax in its Milton Keynes office. He joined in 1999, and specialises in exit and succession planning, profit extraction, capital allowances, and R&D tax credits. KPMG The professional services firm has made two appointments. John Cox joins as a partner in [...]
Evraz climbs as dividend plan offsets losses April 9, 2014 RUSSIAN steel-maker Evraz saw its share price soar over seven per cent in early trading yesterday, after a surprise promise of a dividend and cost cuts offset wider losses in its full-year results. The FTSE 250-quoted company reported losses of $572m (£342m), a 34.6 per cent increase from 2012, while revenue fell 2.1 per cent [...]
Analyst Views: Why was the market so pleased with Evraz’s full-year results? April 9, 2014 DINNUR GALIKHANOV | ATONNobody cares about the losses, everyone’s used to them and they’re reflective of the general condition of the industry. They’re paper losses anyway, they’re not affecting the cash generation of the business. IRYNA TRYGUB-KAINZ | RAIFFEISEN CENTROBANKThe dividend announcement was a real surprise and pushed the share price up today, although they [...]
Prezzo fires up its profits after launching chicken and rib brand April 9, 2014 PREZZO yesterday announced a 15 per cent increase in revenue for the year to December 2013, thanks to the launch of its new Cleaver branded restaurants. The company said growth had been boosted by the launch of its new open-grill chicken and ribs chain. Prezzo has so far launched four new Cleaver restaurants in Surrey [...]
CVC has a taste for Spain with offer for olive oil group Deoleo April 9, 2014 OLIVE oil giant Deoleo, owner of Bertolli and Hojiblanca, looks set to be bought by Formula One owner CVC as the private equity firm targets Spanish opportunities. British group CVC emerged as the frontrunner in an auction that included offers from the Italian government’s strategic fund and American and French private equity firms. Four Spanish [...]
WS Atkins on track for the year April 9, 2014 Engineering consultancy WS Atkins yesterday said it traded well during the fourth quarter with strong cash flow generation, and expects to report full-year results in line with expectations. The FTSE 250 firm said it expects its UK operating margin to have improved in the second half of the year as a result of selling its [...]
Brammer eyes bolt-on acquisitions April 9, 2014 Industrial services firm Brammer yesterday said it has placed 11,300,407 new shares, equating to 9.6 per cent of its share capital, to raise around £53.7m. The London-listed company said the proceeds would be used to fund bolt-on acquisitions in Europe. It has signed letters of intent with, and is currently evaluating, a number of opportunities.
Gulf Keystone prices £149m bond April 9, 2014 Kurdistan-focused oil explorer Gulf Keystone yesterday said it has priced a $250m (£149m) three-year senior unsecured bond, with a yield of 13 per cent per year. The company, which recently moved to London’s main market, said the proceeds would be used to fund the continued development of its flagship Shaikan oil field and other fields.