Shaftesbury snaps up Jaeger’s West End headquarters for £31m March 24, 2014 WEST END landlord Shaftesbury has bought the headquarters of luxury fashion brand Jaeger for £31m just weeks after raising £156.6m to fund its buying spree. Shaftesbury said yesterday it has acquired Jaeger House at 57 Broadwick Street from rival developer Derwent London for £30.75m. The 1970s block sits between Shaftesbury’s two estates – known as [...]
G4S wins contract with Aggregate March 24, 2014 FTSE 100-quoted outsourcing firm G4S yesterday said that it has won a three-year contract to deliver facilities management services to Aggregate Industries, a UK construction and building materials supplier. The exact deal value was not disclosed, but G4S called it a “multi-million pound contract” which will involve G4S providing cleaning and security services across the [...]
Horizonte unveils feasibility study March 24, 2014 Aim-listed nickel miner Horizonte Minerals has today announced the results of a pre-feasibility study for its flagship Araguaia nickel project located in northern Brazil, which chief executive Jeremy Martin said showed the “robust economics” of the project, with a post-tax value of between $519m (£315m) and $1.2bn, based on two operational scenarios. The project, which [...]
Tullow steps up tax transparency March 24, 2014 FTSE 100-quoted energy explorer Tullow Oil yesterday revealed how much it paid to different governments in its annual report, in line with EU regulations but ahead of incoming UK legislation. The firm paid $881m (£534m) to African governments last year through the taxes it pays, which it said was larger than its group tax bill [...]
Finsbury Foods doubles investment in cake business to £7m as earnings jump March 24, 2014 FINSBURY Foods, the company behind Moshi Monster and One Direction celebration cakes, has said that it plans to double investment into new products and manufacturing after posting a jump in first half profits. The bread and cake-maker said yesterday it will increase its capital expenditure from £3m last year to £7m in this financial year [...]
Centamin plans dividend after output rockets March 24, 2014 CENTAMIN yesterday hinted at further acquisitions and said it hoped to have its dividend policy in place by May, as it unveiled production and costs that beat guidance. Shares jumped nearly 10 per cent as the Egypt-focused gold miner reported record core earnings of $234.2m (£142m) in 2013, up one per cent on 2012, with [...]
Analyst Views: What is your view of Centamin following yesterday’s results? March 24, 2014 JONATHAN GUY | RBC CAPITAL MARKETSCentamin’s scale of resource and production, in conjunction with a diverse shareholder base, could make it one of the more credible acquisition targets among the gold miners. [But] any bid for the company is unlikely to materialise whilst the political situation in Egypt remains challenging. CAILEY BARKER | NUMISFull-year results [...]
Kentz’s shares lifted by higher profits and growing order book March 24, 2014 KENTZ’S shares climbed yesterday after the engineering firm unveiled a rapidly rising order book in 2014 and said full-year performance would be ahead of its previous expectations. The FTSE 250-listed company’s order book increased from $3.1bn (£1.9bn) at the end of 2013 to $4.1bn at the end of February 2014. “Current trading and new business-winning [...]
Petrofac wins $1bn engineering and procurement deal in Oman March 24, 2014 OIL AND gas services firm Petrofac yesterday said it has won a contract in Oman worth over $1bn (£610m), boosting its already strong position in the Middle East. The FTSE 100 firm won the four and a half year engineering and procurement deal from oil and gas producer Petroleum Development Oman (PDO), to provide services [...]
Laird hires Numis as joint broker March 24, 2014 Electronic parts maker Laird yesterday said it has appointed Numis Securities, with immediate effect, as joint corporate broker alongside JP Morgan Cazenove. The FTSE 250-quoted company, which makes components for Apple and Samsung, said in January that it was trading in line with expectations. The company also said that it is building a new manufacturing [...]