APR powers on after data blip April 16, 2012 TEMPORARY power supplier APR Energy yesterday reported a full-year profit above expectations and said it had launched a “detailed post mortem” into the accounting problems that held back the release of the results. The US-based company, backed by Pizza Express and Punch Taverns entrepreneur Hugh Osmond, said it was on track for further growth in [...]
APR Energy hit as delays release of full-year results March 21, 2012 SHARES in APR Energy, a supplier of temporary power generation, plunged 19.5 per cent yesterday to 885p after the group said that full publication of its results would be delayed. The company said in a statement released after the market closed on Tuesday, that it will release 2011 results in mid-April “due to complexities in [...]
APR powering to a 65pc sales surge as market booms January 18, 2012 APR Energy – the temporary power company backed by entrepreneur Hugh Osmond – yesterday forecast a 65 per cent surge in sales growth for the full year. The firm, which is expanding in emerging markets, said it anticipates sales of $93m (£60.4m) for the fourth quarter. Demand for services provided by companies such as rival [...]
Phoenix finance boss leaves as it sees cash generation in line December 21, 2011 SHARES in insurance group Phoenix got a small fillip yesterday, after the company said cash generation for the year would be smack bang in the middle of its estimated range. The firm, originally a Hugh Osmond vehicle, said it would generate around £800m in operating cash in 2011 – a £66m rise from last year’s [...]
No Resolution for Phoenix in buyout talks November 20, 2011 THE collapse of talks between insurance takeover specialist Resolution and rival Phoenix Group has cleared the way for a rival bid from buyout firm CVC Capital or Swiss Re. CVC has opened talks over a deal to buy all or part of Phoenix, it emerged yesterday, as Resolution broke off negotiations over a deal. City [...]
Co-op bids on smaller Lloyds asset package than NBNK November 9, 2011 THE CO-OPERATIVE Group insisted on a drastically slimmed down package of assets when it put in its second-round bid for 632 Lloyds branches yesterday. City A.M. understands that the Co-op has demanded that Lloyds narrow the funding gap between the loans and deposits of the package by significantly more than its rival bidder NBNK had. [...]
Luminar has queue to buy clubs November 6, 2011 Collapsed nightclub operator Luminar has received a dozen expressions of interest for parts of the group. Oakley Capital, Sun European Partners, R Capital, Hugh Osmond and Luminar founder Stephen Thomas are said to be among those considering an offer. Last week the firm closed 11 venues, with the loss of around 300 jobs. The remaining [...]
Luminar suitors want deal tied up by Christmas October 31, 2011 BIDDERS for toppled nightclub owner Luminar want a deal tied up by the first week of December or they will pull out of the running, City A.M. has learned. One source close to the deal said: “There is some value in us picking up a company with the Christmas rush still on. Nobody wants to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 30, 2011 FINANCIAL TIMES SCHÄUBLE CALLS FOR EU LEAD ON TOBIN TAX Wolfgang Schäuble, Germany’s finance minister, wants the European Union to take the global lead in introducing a financial transaction tax to curb speculative trading, along with tougher regulation of big banks and the “shadow” banking sector, such as hedge funds. If the UK blocked agreement [...]
APR sees 64pc revenue jump October 27, 2011 TEMPORARY power provider APR delivered a bullish trading update yesterday, saying it saw growth accelerate in the past quarter with revenues up 63.5 per cent to $57.5m (£35.7m). APR, which only re-listed in June after being taken over by Hugh Osmond’s Horizon vehicle, signed a new agreement to supply turbines to engineering group Pratt & [...]