Kenmare rises on repaired plant November 28, 2013 Ireland-headquartered miner Kenmare Resources’ share price went up nearly four per cent yesterday, after the firm said a fire-damaged plant in Mozambique has now returned to full production capability. As previously reported, the Moma mine has also experienced a number of power outages, which impact production. The Mozambican government is working with the state electricity [...]
Falcon Oil & Gas’s losses narrow November 28, 2013 Aim-listed Falcon Oil & Gas yesterday said farm-out talks are advancing in Australia and that it has completed the acquisition of a minority stake in its Australian subsidiary, bringing its holding up to 98.1 per cent. Net loss for the first nine months of 2013 narrowed to $3.73m (£2.28m) from $16.64m last year. The oil [...]
Manroy falls as talks end with USO November 28, 2013 Manroy, the Aim-listed defence contractor, yesterday said that takeover talks have ended with US Ordnance, sending its share price down by 12 per cent. US Ordnance is a Nevada-based manufacturer of military defence weapon systems and machine guns. Manroy said that separate talks are still ongoing with arms manufacturer Herstal. Talks with Italian firearms maker [...]
Sigma signs up with Sharia firm to build houses November 28, 2013 PROPERTY developer Sigma Capital has formed a £700m venture with Sharia compliant Gatehouse Bank to build thousands of rental homes in Britain, looking to gain from the needs of a growing population. The companies said yesterday the joint venture would initially build 2,000 new homes in Liverpool and Salford, with a total development cost of [...]
Publicis buys 75pc stake in M&C Saatchi’s Walker Media for £36m November 28, 2013 PUBLICIS Group will buy a 75.1 per cent stake in M&C Saatchi’s Walker Media as part of a £36m cash deal, as the advertising giant awaits the European Union’s approval for its merger with Omnicom to create the world’s largest ad agency. The deal will place Walker Media under Publicis’ ZenithOptimedia media buying group. M&C [...]
Helical Bar points to recovery in regional property as profits soar November 28, 2013 LONDON-FOCUSED property developer Helical Bar yesterday said it had made a record profit of £68.9m in the six months to the end of September. The firm’s earnings jumped from £5.2m a year ago after it booked gains on the sale of 200 Aldersgate and its Brickfields site at White City. Helical’s portfolio gained 3.5 per [...]
LondonMetric rejigs its portfolio and sells off three retail parks November 28, 2013 LONDONMETRIC, the real estate group formed in February from the merger of London & Stamford and Metric Property, yesterday posted a jump in profits as the company worked to revamp its portfolio. Pre-tax profits rose from £28m a year ago to £50.9m in the six months to the end of September. The firm bought properties [...]
Burberry moves to protect its tartan in China November 28, 2013 BURBERRY Group has appealed a decision by Chinese authorities to cancel trademark protection for the British trenchcoat maker’s iconic tartan pattern, the British company said in an emailed statement on yesterday. China is one of Burberry’s top markets, with the Asia Pacific region accounting for 37 per cent of revenues in 2013. However, an economic [...]
Creston stumbles but marketing wins promise a better second half November 28, 2013 MARKETING firm Creston reported a nearly 80 per cent slump in profits during the first half of the year yesterday, missing market expectations and causing the company’s share price to drop by over seven per cent. The drop was due to the firm’s US agency losing a key contract and Creston’s high level of pitching [...]
E.On prepares to sell its Italian unit and eyes £2.5bn valuation November 28, 2013 GERMAN utility E.On has started preparations for the sale of its Italian business and will soon begin the search for a buyer, four people familiar with the matter said, at a price likely to be about €3bn (£2.5bn). Burdened by a massive expansion of renewable energy capacity, falling wholesale prices and tepid energy demand in [...]