Eurocell IPO: Shares trade above initial offer price March 4, 2015 Shares in Eurocell traded up today after the window and door maker's debut onto the London Stock Exchange. The Derbyshire-based firm, spun off by private equity group H2 Equity Partners, priced its shares at 175p, valuing it at £175m. But the company's shares were about 5.7 per cent higher in late afternoon trading, at 185p. "We have [...]
Fresnillo share price sheds as much as six per cent after pre-tax profit falls 40 per cent March 4, 2015 The figures Fresnillo said revenue fell 12.5 per cent to $1.41bn in the year ending December 2014, down from $1.6bn a year earlier. Pre-tax profit at the precious metals producer fell 40 per cent to $251m primarily due to plummeting silver and gold prices, as well as higher production costs. The company's share price slumped as [...]
Tesco hires BP vice president Byron Grote March 4, 2015 BP director and vice president Byron Grote is joining Tesco's board as the troubled supermarket looks to bolster its financial experience. Grote, who has been at BP since it acquired Standard Oil of Ohio in 1987, joins the Tesco board on May 1 as a non-executive director. The grocer said he brought “extensive executive [...]
Standard Chartered share price rises as boss Peter Sands gives up bonus March 4, 2015 Shares in troubled bank Standard Chartered were up six per cent this morning, despite reporting a sharp drop in pre-tax profits. Investor optimism was clearly high, as outgoing boss Peter Sands, who, it was revealed last week, will be replaced by Bill Winters, announced he and the rest of the board will forego their bonuses. [...]
Tasty: Greggs is on a roll with 41pc profit jump March 4, 2015 The figures Pre-tax profit at Greggs for the full year to the start of January jumped 41 per cent to £58.3m on sales of £804m, a rise of 5.5 per cent, as market conditions improved. The baker, which has 1,650 stores across the UK, said like-for-like store sales grew 4.5 per cent in comparison to [...]
ITV share price jumps on double-digit growth and £250m special dividend payout – but audiences continue falling March 4, 2015 The figures ITV's shares shot up five per cent in early trading as revenue climbed eight per cent to £2.6bn in 2014 and adjusted pre-tax profit jumped 23 per cent to £712m. The UK's largest broadcaster will pay out a special dividend of £250m to shareholders, or 6.25 pence per share. That's in addition to a 3.3 [...]
Regus targets universities and libraries as operating profits soar March 3, 2015 Regus said yesterday it planned to bridge the gap between higher education and working life by launching offices in universities and public libraries. The serviced office provider signed its first deal with Helsinki University last year and has also partnered with the Singapore Government to open facilities within their public libraries. It is now eyeing [...]
Tullett Prebon share price falls as broker chops staff to slash costs March 3, 2015 Revenues dived at Tullett Prebon last year as demand from banks and other traders slumped, the interdealer broker said yesterday. Pre-tax profits fell 13 per cent to £86.6m, as revenues tumbled 12.5 per cent to £703.5m. The broker responded by slashing costs – 217 staff have been cut, and the firm has cut back [...]
London cab firm Addison Lee embarks on global expansion with New York launch March 3, 2015 London cab firm Addison Lee is expanding its services to the hotly contested taxi battleground of New York. The expansion, its first outside London, will give the firm access to the second biggest cab market in the world after London's, which is worth an estimated £2.2bn. The private equity-owned firm said the expansion was spurred [...]
Grosvenor House Hotel up for sale as owner collapses into administration March 3, 2015 The iconic Grosvenor House Hotel in London has been put up for sale after its owner collapsed into administration. The luxury five-star hotel, located on Park Lane in Mayfair, is expected to go for more than the £470m than its owners Sahara Grosvenor House Hospitality initially paid five years ago – the largest London hotel deal [...]