Eurotunnel shares sink as costs rise and flat profits disappoint July 23, 2012 EUROTUNNEL reported flat first-half net profit of €5m (£3.9m) yesterday, but shares in the company fell as figures missed analyst expectations and it struggled with rising operating costs. The company is betting that increased traffic from the Olympic Games in London and relatively strong growth from the Queen’s Jubilee celebration in June will help the [...]
Qataris up stake in Xstrata after asking Glencore for better deal July 23, 2012 QATAR Holding, the second-largest shareholder in takeover target Xstrata, has added to its stake in the miner, in its first purchase since it made an unexpected demand for better terms from suitor Glencore last month. Qatar spent just under £5m to buy an extra 590,390 shares on Friday at £8.47 each, according to a regulatory [...]
Dreamworks buys studio owner of Casper and Lassie for $155m July 23, 2012 MOVIE studio DreamWorks Animation has agreed to buy Classic Media, the film company behind characters including Casper and Lassie, the company announced yesterday. The $155m (£100m) deal will create a new DreamWorks Classics unit, with control of Classic Media’s roster of over 450 films and 6,100 episodes of TV shows, including Postman Pat, Noddy and [...]
African Barrick tanks as output falls and expenses dent takings July 23, 2012 MINER African Barrick Gold said yesterday it was on track to meet its 2012 production targets despite posting an 11 per cent drop in quarterly production. Shares in the company dived 16 per cent, however, as the firm admitted that first-half profits almost halved to $65m, as higher costs battered its bottom line. The Tanzania-focused [...]
Aquarius drops as strike action and falling prices hit production July 23, 2012 SHARES in Aquarius Platinum fell by eight per cent during trading yesterday to touch a 12-year low, after the world’s fourth-largest platinum producer reported a 14 per cent drop in quarterly production. Revenue for the fourth-quarter also declined 20 per cent, hurt by lower platinum prices, which fell about 12 per cent during the period. [...]
Dialight gets lift as profit grows July 23, 2012 Shares in lighting products maker Dialight soared yesterday after it reported a 21 per cent increase in operating profit for the first half, and forecast full-year results at the higher end of market expectations. Group revenue climbed 18.2 per cent to £61.1m while pre-tax profits rose to £8.3m from £6.2m. Shares closed up 5.22 per [...]
Amplats cuts production target July 23, 2012 Anglo American Platinum, the world’s top platinum producer, said yesterday it was reducing its full-year production and project spending targets, hit by chronic weakness in prices and demand for the precious metal. The miner also reported an expected 78 per cent drop in interim profit. The miner further cut its refined production target for 2012 [...]
Senior gets boost from airlines July 23, 2012 Aero engineer Senior reported a 20 per cent increase in first-half profit yesterday as customers such as Boeing and Airbus ramped up build rates to meet hefty order backlogs. The company raised its interim dividend 20 per cent to 1.38p per share. The company’s adjusted pre-tax profit rose to £45.5m for January-June from £38m a [...]
US corporate results round-up July 23, 2012 Slowing economy hurts McDonald’s FAST-FOOD chain McDonald’s reported lower than expected quarterly profit yesterday, hurt by a slowing global economy and the impact of a stronger dollar. The company said that net income fell 4.5 per cent to $1.35bn (£870m), and the impact of the stronger dollar ate into earnings in the latest quarter, while [...]
Protest vote for Quintain non-exec July 23, 2012 Shareholders at Quintain yesterday approved a new joint venture with Hong Kong investor Henry Cheng Kar-Shun to develop its Greenwich Peninsula site. The developer saw all its motions almost unanimously approved at its annual general meeting, the only exception being a 17.5 per cent vote against the re-election of its long standing non-executive director Martin [...]
