Catlin tops list of best known underwriters October 7, 2013 CATLIN is the best known underwriter among London insurance brokers, according to research released yesterday. The poll of 450 brokers by consultancy firm Gracechurch also found that being a member of the Lloyd’s of London market is now less important when it comes to insurers engaging with brokers. Insurers that operate outside the Lloyd’s system [...]
Cala to double in size after its cash injection October 7, 2013 HOUSING group Cala set out ambitious plans yesterday to double in size over the next four years by snapping up land in the south of England and increasing its presence in its Scottish heartland. The firm, which develops upmarket properties in Scotland, the Midlands and south east England, was taken over in March by Legal [...]
Cranswick sausage sales sizzle but pig prices weigh on profits October 7, 2013 THRIFTY shoppers in search of cheaper meats such as pork and bacon helped boost Cranswick’s sales in the first half of the year. The Yorkshire-based company, which supplies retailers such as Marks & Spencer with pies and sausages, said total sales rose 15 per cent in the six months to 29 September. However it warned [...]
Analyst Views: Is Cranswick well placed to handle rising prices? October 7, 2013 DAMIAN MCNEELA PANMURE GORDON Cranswick delivered an acceleration in second quarter sales growth…But continued high pig prices during the period has weighed on margins…We would expect the company to make good progress in recovering the inflation in the second half. NICOLA MALLARD INVESTEC The two things to note are that the top line growth in [...]
GVA merges with Scottish agency October 7, 2013 Property agency GVA has bought Scottish rival James Barr for an undisclosed sum, in a deal that will create Scotland’s third largest property advisory firm by sales. All of GVA’s businesses north of the border will be renamed GVA James Barr. The firm, which posted profits of £7.8m in the year to April, outlined plans [...]
M&G buys £32m student housing October 7, 2013 M&G Investments said yesterday it has bought the freehold of three student housing blocks in Bournemouth for £38m from Spectrum Housing. The sites, which have 704 en-suite rooms, are let to student housing provider Campus Living Villages, which in turn has an agreement Bournemouth University. M&G said the assets will help provide a long-term income [...]
Kensington block sold for £40m October 7, 2013 Mountgrange Real Estate Opportunity Fund said yesterday it has sold the Warwick Building in Kensington to fund manager Cordea Savills for £40m. The building forms part of the Kensington Village office campus and is let to Publicis Groupe, which is working on a merger with Omnicom. Cordea said the building was well placed to exploit [...]
Berlin lines up National Express for rail contract October 7, 2013 TRANSPORT firm National Express said yesterday that it has been shortlisted to run the Berlin Ringbahn, the dilapidated railway line around the city centre of Berlin. The 15-year contract is estimated to be worth around €2bn (£1.7bn) and is set to start in December 2017. The line is currently being run by state operator Deutsche [...]
Audi says September sales rise 10 per cent on growing demand October 7, 2013 GERMAN car maker Audi said yesterday its sales in September increased 10 per cent compared to the same month a year earlier to 150,300 luxury cars and sport-utility vehicles, on demand from the US, China and Europe. Nine-month deliveries rose 7.6 per cent to 1.18m vehicles, the Volkswagen-owned division said, citing the Q3 and Q5 [...]
Petra’s output update shines October 7, 2013 SHARES in FTSE 250-listed Petra Diamonds rose more than two per cent yesterday after a production update beat analysts’ forecasts. Despite recent strikes at the diamond explorer’s South African mines, which temporarily stopped operations, the company produced 816,735 carats for the three months to 30 September. This beat broker Canaccord Genuity’s estimate by eight per [...]