United Utilities celebrates good first-half results November 26, 2014 REVENUE improved at United Utilities in the six months to 30 September, up to £859.4m from £845.7m in the same period of last year, while operating profit also improved, up to £340.5m from £338.3m. Steve Mogford, chief executive at United Utilities, said the firm was “pleased with the progress we have made over the last [...]
Onshore firm grows output November 26, 2014 UK ONSHORE producer Igas has reported a dip in revenue for the six months to 30 September, at £34.5m compared with £36.2m in the same period of last year. Underlying profit before tax fell to £1.1m, from £6.1m, however production climbed from 2,704 barrels of oil equivalent per day (boepd) to 2,766 boepd. Andrew Austin, [...]
US placing gets Kier’s approval November 26, 2014 CONSTRUCTION firm Kier Group has successfully raised £120m through the US private placement market. Haydn Mursell, the firm’s chief executive, said: “We are delighted with the strong support shown by investors. With a significant proportion of our debt now at a fixed rate and committed for at least the next five years, we have successfully [...]
Money printers De La Rue hit by tough market November 25, 2014 Banknote printer De La Rue saw its profits plunge by 36 per cent in the six months to 27 September, falling from £28.4m to £18.1m. Revenue fell by eight per cent, from £234m to £215m, and the firm’s dividend was cut by 41 per cent, from 14.1p to 8.3p. This was despite banknote print volumes [...]
Barclays-backed firm Third Energy plans to start fracking in North Yorkshire November 25, 2014 Gas company Third Energy has applied for planning permission to begin fracking in North Yorkshire. The firm, a startup backed by Barclays, first drilled the KM8 well at its Kirby Misperton in 2013. Chief executive Rasik Valand said: “Our analysis indicates that there could be a significant new gas reservoir in our North Yorkshire licence [...]
Severn Trent share price dips as water company prepares to slash 500 jobs after profits drop November 25, 2014 Water company Severn Trent is preparing to cut 500 jobs after reporting a 27.7 per cent reduction in profit before tax during the six months to 30 September 2014, dropping from £191m to £138m. However, underlying profit before tax was up 10.3 per cent to £156m from £141m, while turnover improved by 2.7 per cent, [...]
Aviva meets criticism over Friends Life deal November 24, 2014 Analysts have warned that Aviva’s share price could continue to decline, following news that the insurance group is in talks concerning a £5.6bn merger with rival Friends Life. Shares dropped by more than five per cent yesterday when the markets opened for the first time since the news broke. “The market is in a state [...]
Bayer share price up as pharmaceutical company looks to sell peripheral units to fund Zoetis takeover November 24, 2014 The German chemical and pharmaceutical company Bayer is considering selling its $2.5bn (£1.6bn) diabetes device business. The company is working with Credit Suisse on the sale with firms such as Cinven, EQT Partners AB and Triton Advisors possibly lining up bids. Bayer also wants to float its plastics unit on the stock market, according to [...]
Petrofac profits suffer as Brent tumbles further November 24, 2014 Shares in oil and gas services firm Petrofac fell by more then 26 per cent yesterday after the company issued a profit warning, citing the impact of falling oil prices. Petrofac also blamed delays and operational issues at many of its projects as it reset its expected 2015 profit to $500m (£318m) from the previous [...]
Aviva share price falls as Friends Life shares rise: Surprised market reacts to deal bombshell November 24, 2014 The market was divided yesterday following the announcement of a planned merger between insurer Aviva and its competitor Friends Life. Aviva saw its shares fall by more than five per cent during the day, while shares in Friends Life climbed by six per cent. Most analysts agreed that the announcement was surprising, with [...]
