Fever-Tree IPO: Charles Rolls and Tim Warrillow are cracking open the bubbly for a market debut November 4, 2014 When boom turns to bust, it can be best to keep your head down, get back to work and wait for a better time to dive into choppy waters. Plenty of other firms have had second thoughts about their flotations in recent week, as the frenzy of earlier months gave way to a market slump. [...]
Virgin Money revives float plans but other sellers remain cautious November 4, 2014 CHALLENGER bank Virgin Money relaunched its bid to float on the stock market yesterday, making the most of the recovery in markets. The lender had put its initial public offering (IPO) on hold last month after stock markets dived and rocked confidence. And new capital rules for banks are not as tough as markets feared, [...]
Legal & General share price up as insurance group bucks annuities trend November 4, 2014 Shareholders appeared pleased with Legal & General’s quarterly update, published yesterday, pushing share prices up by over two per cent. The insurance group reported growth in revenues, operating profit, customer numbers and net cash. The company sold a record £3.9bn worth of annuity sales in the nine months to September 2014, up five per cent [...]
Lure of London helps Unite Group reach 99pc student occupancy November 4, 2014 Student accommodation giant Unite Group, yesterday reported 99 per cent occupancy for the current academic year, with students paying rents three per cent up on last year. In its latest stock market update, the firm said its outlook for business this year was “strong”, supported by further increases in UK student numbers and government policy. [...]
Interim report leads to plunge in shares at JLT November 4, 2014 INSURANCE broking group Jardine Lloyd Thompson (JLT) saw share prices fall by almost six per cent yesterday after releasing its results for the period from 1 July to 3 November. The broker said that trading since the first half of 2014 was broadly in line with its expectations, and claimed this was “despite the continuing [...]
Greene King and Spirit Pubs in £773m takeover November 4, 2014 BRITISH pub retailer and brewing giant Greene King finally reached agreement yesterday over the long-mooted takeover bid of compatriot brewer Spirit Pubs. Greene King’s offer – worth £773.6m, at 115p a share – has been accepted by Spirit Pubs’ senior management. The arrangement will see Greene King shareholders take 71.1 per cent in the newly [...]
Record quarter as casino sales lift 888 revenue to all time high of $144m November 4, 2014 Online gaming giant 888 has reported its best performing quarter on record for the period between 1 July and 30 September this year. The company yesterday published its interim results, revealing that its third quarter group revenue hit an all time high of $114m, up 22 per cent year-on-year. A strong performance from the company’s [...]
Who will fix it for Homebase if nation stops doing DIY? – Brand Index November 4, 2014 Homebase, the home improvement giant, has announced that it is to close about a quarter of its 323 stores, raising questions as to whether this a necessary restructuring or because the nation – and particularly the younger generation – has fallen out of love with DIY. With house prices increasing over the past few years, [...]
Another departure at Balfour Beatty as chief financial officer Duncan Magrath steps down November 4, 2014 Construction company Balfour Beatty announced the departure of chief financial officer Duncan Magrath yesterday. Magrath, who has been with the infrastructure firm for eight years and in the top finance role for six, will leave the business in 2015 after a successor has been found. He will also continue as a member of the board [...]
Alibaba share price rises to record high as company now worth over $100bn more than Amazon November 4, 2014 Chinese e-commerce giant Alibaba saw its shares rose to a record high yesterday of $106.07 after it reported strong second-quarter results and said it would invest for the long term to expand its customer base. It was Alibaba’s maiden quarterly results since its $25bn (£15.6bn) float on the New York Stock Exchange in September, when [...]