Intertek profit up over 2013 March 3, 2014 INTERTEK yesterday revealed a two per cent yearly profit rise, up to £315m before tax in 2013 from £308m in the year before. The FTSE 100 firm, which tests and certifies the safety of consumer products, said revenue increased by six per cent to £2.2bn and cash flow increased by 14 per cent to £394m. [...]
Property bosses call for two new London suburbs March 3, 2014 BUILDING new suburbs in the Lea Valley and Chessington, selling off more public land to developers and allowing more skyscrapers are among the suggestions put forward by a panel of property heads as possible solutions to London’s housing shortage. A dozen property bosses brought together by business group London First have also recommended stricter house-building [...]
Johnson Services snaps up hotel linen firm Bourne in £22m deal March 3, 2014 UNIFORM and dry cleaning company Johnson Services yesterday said it had snapped up Lincolnshire-based hotel linen company Bourne Services for £22m. The deal will be funded with a new equity placing of £12.8m, the company said yesterday. Executive chairman John Talbot said: “This is a significant step in our plan to expand the range of services [...]
Behind the deal March 3, 2014 INVESTEC | DAVID FLIN 1 He started his broking career with Dresdner Kleinwort in 2000, working in the mid-market with a host of listed companies. He joined Investec in 2009. 2 Flin, who has a bachelor of science degree in economics from University College London, is an avid Tottenham Hotspur fan. When Spurs aren’t playing, [...]
Brits face steeper hotel bills overseas March 3, 2014 UK TRAVELLERS were left feeling worse off last year as rising demand and an improving economy boosted hotel prices in over half of the world’s destinations. The hotels price index (HPI), a survey by online accommodation provider Hotels.com, revealed that the average price paid by British travellers for a double room worldwide increased by three [...]
Troubled Serco strengthens its board with three new directors March 3, 2014 SCANDAL-TAINTED outsourcing giant Serco yesterday unveiled the appointment of three new eminent non-executive directors, after hiring a new chief executive at the end of last week. The FTSE 100 firm has hired Rachel Lomax, former deputy governor of the Bank of England, Mike Clasper, former chief executive of BAA and Tamara Ingram, executive vice president [...]
Smith News expects flat profits as competition hits book sales March 3, 2014 SMITH News yesterday announced its pre-tax profits for the first half are likely to be flat compared to last year. In a pre-close statement for the period to 28 February, the company said its newspaper and magazine revenue had performed slightly above recent run rates, and the division’s profit is likely to top last year’s. But [...]
Profits surge at Thorntons after Christmas cheer March 3, 2014 THORNTONS posted a 47 per cent jump in first half profits yesterday as the chocolatier’s three-year plan to scale back its shops and grow its commercial and online channels continued apace. The retailer, which opened its first shop 113 years ago in Sheffield, reported pre-tax profits of £7.2m in the six months to 11 January, [...]
Developers secure £44m to start Shepherd’s Bush Market revamp March 3, 2014 DEVELOPERS regenerating Shepherd’s Bush market in west London have secured £44.1m from Pramerica Real Estate Investors to help kick-start the first phase of the development. Orion Shepherds Bush, a joint venture set up by Development Securities and Orion Land & Leisure, said the funds will be used to buy the market site land from Transport [...]
Car dealership Vertu makes a virtue of its acquisition drive March 3, 2014 CAR DEALERSHIP Vertu has raced ahead of earnings forecasts in the year to the end of February and expects new car sales to accelerate further this year. The firm, which has expanded from 95 to 106 showrooms across the UK in the last year, said like-for-like new car sales rose 21.5 per cent in the [...]