Smiths is cautious on forecast September 30, 2009 SMITHS, the technology company which makes airport X-ray scanners and mechanical seals on medical equipment, yesterday said its underlying annual profit fell 21 per cent but beat forecasts. The group said its outlook for the rest of the year was cautious. “Although statisticians are pointing towards a number of signs suggesting economies are beginning to [...]
Bharti Airtel and MTN talks collapse again due to dual-listing disagreement September 30, 2009 TALKS between Indian operator Bharti Airtel and South African MTN Group to create the world’s third-largest mobile operator collapsed for the second time in a year yesterday. Bharti, India’s largest mobile operator, blamed the South African government for the latest breakdown in a deal which faced close scrutiny from regulators and politicians. South Africa was [...]
Travis Perkins remains cautious about next year as says no signs of recovery September 30, 2009 BUILDERS’ merchant and home improvements group Travis Perkins yesterday said group nine-month turnover fell 11 per cent, as volumes showed no sustained improvement and pricing pressure persisted. However, the group, which has branches across the UK under Travis Perkins, Wickes and other brands, said trading for the past three months was ahead of its expectations. [...]
Clipper says it is in talks over further investment September 30, 2009 CLIPPER WINDPOWER said yesterday it was in talks with potential investors that could lead to a “significant investment” in the company, which is the only listed wind group in the UK. The talks, with a number of “industrial multinationals and financial investors”, could result in a new partner taking anything from a substantial minority position, [...]
Virtue signs Deal or No Deal September 30, 2009 Endemol UK has signed an exclusive deal with global online bingo licensor Virtue Fusion to create a game based on the popular TV show Deal or No Deal. Mecca, Paddy Power, bet365 and Sky have already confirmed they will host the game, with more operators to be announced in due course. Virtue also signed a [...]
Alexon profits fall in downturn September 30, 2009 Fashion retailer Alexon yesterday posted a fall in first-half adjusted pre-tax profit mainly due to poor consumer confidence and lower demand, and scrapped its interim dividend to conserve cash amid a tough retail environment. For the 26 weeks ended 1 August pre-tax profit before exceptional items fell to £0.9m from £6.9m last year. Revenue decreased [...]
Finsbury chief executive departs September 30, 2009 Cake and bread maker Finsbury Food yesterday announced that chief executive Martin Lightbody stepped down with immediate effect after the group reported a 65 per cent fall in year end pre-tax profit. Lightbody will be replaced by chief operating officer John Duffy. Finsbury posted pre-tax profits of £5m for the year to 4 July, compared [...]
Man funds up as client base sees recovery September 30, 2009 MAN Group, the largest listed hedge fund manager in the world, said yesterday that assets under management had increased during the group’s fiscal second quarter, the first quarterly rise in a year. The group saw funds under management reach around $43.8bn (£27.4bn), a 1.2 per cent rise on the $43.3bn seen at the end of [...]
Private equity shows signs of recovery next year September 30, 2009 AS WE move into the fourth quarter, prospects for private equity look promising as capital markets and the economy stabilise. But, as firms turn their attention to strategy for 2010, is it too early to be talking about a full-scale revival in the industry next year? One man thinks not. Bob Henry at small buyout [...]
Thomas Cook enjoys surge in bookings September 30, 2009 Tour operator Thomas Cook said it had traded well in its fourth quarter thanks to growing demand for package holidays and was on track to hit full-year profit expectations. Europe’s second-biggest tour operator yesterday also outlined plans to further expand its financial services activities through acquisitions but said it has no plans to go to [...]