Ofcom could hike network fees next year October 10, 2013 MOBILE operators could see the annual fees they pay to use radio spectrum increase 400 per cent, according to a proposal from Ofcom yesterday. The fee increase could lead to higher mobile phone bills if operators decide to pass on the increases to consumers. Ofcom plans to hike the bill for 1800Mhz frequencies from £40m [...]
Just Eat’s sales sizzle as more restaurants join October 10, 2013 ONLINE takeaway network Just Eat enjoyed a 77 per cent jump in revenues last year, as 11,000 more restaurants joined its online service, taking its client list up to 32,000. Just Eat Group Holdings, which allows hungry customers to browse multiple takeaway menus, said it generated £59.8m across all of its businesses, £41m of which [...]
Inside Track: Independent analysts don’t always say what you want October 10, 2013 FOR several months now I have been arguing that an understanding of the new issues market would be enhanced by the presence of independent analysts, writing research about companies coming to market ahead of the first day’s trading. Most of the recent London flotations have gone ahead with no research from any bank that is [...]
Ashmore gets funds boost October 10, 2013 INVESTMENT manager Ashmore Group attracted $600m (£376m) of net inflows from clients between July and September, a sign of sustained investor appetite for its emerging market funds despite recent volatility. The inflows – strongest in its debt products – combined with positive investment performance to raise Ashmore’s assets under management to $78.5bn at the end [...]
Hays sees signs of jobs growth October 10, 2013 HAYS yesterday became the latest recruitment firm to see signs of improvement in the UK jobs market, after posting an eight per cent rise in quarterly like-for-like fees. The company said more permanent placements were being advertised, as it raised its own headcount from 1,929 to 2,034 in the three month period. The group said [...]
New WH Smith boss pledges to keep lid on costs October 10, 2013 WH SMITH’s new boss Stephen Clarke said yesterday he would continue the cost-cutting strategy laid out by his predecessor Kate Swann and step up growth overseas, as the group posted a rise in profits despite a decline in full-year sales. The news and stationary retailer, which also announced a further £50m share buyback, said total [...]
Land Securities sells RBS offices on the South Bank for £315m October 10, 2013 LAND SECURITIES has sold Royal Bank of Scotland’s flagship offices on the South Bank to M&G Real Estate in a £315m deal. The FTSE 100 landlord said yesterday it has exchanged contracts to sell Bankside 2&3, which are let to the bank until 2027. The 380,000 square feet offices, which sit next to the Tate [...]
Sales surge for JLR and Bentley October 10, 2013 BENTLEY has enjoyed soaring sales in America and Europe this year, but its market in China has suffered a 17 per cent dip in deliveries as buyers awaited the new Flying Spur model. The Volkswagen-owned luxury car group sold 6,516 cars worldwide in the first nine months of 2013, up 9.2 per cent on last [...]
Analyst Views: Were WH Smith’s results in line with your expectations? October 10, 2013 RICHARD CHAMBERLAIN BANK OF AMERICA “WH Smith has reported a profit before tax of £108m for the year to 31 August in line with our estimate and slightly ahead of consensus of £107m. Earnings per share was up 15 per cent and the final dividend of 21.3p was also up 15 per cent, giving a [...]
Wages in public sector still beat private sector October 10, 2013 A NEW report published today reveals the gulf in wages between the public and private sectors, with government workers in some regions earning thousands more than their private counterparts every year. Despite the public sector pay freeze, think tank Policy Exchange says its calculations show that public sector salaries still outstrip their private sector equivalents [...]