Interserve targets new markets drive February 29, 2012 OUTSOURCING giant Interserve said new markets and growing support services work would balance another weak year in its construction division. The company, whose services range from cleaning Sainsbury’s supermarkets to building shopping centres in the Middle East, posted a 4.6 per cent rise in 2011 underlying pre-tax profits to £72.8m, meeting analysts’ expectations. The FTSE [...]
National Express gets boost from US school buses February 29, 2012 BRITISH transport firm National Express Group’s full-year profit has risen on strong performance at its US school bus and UK coach divisions, and the company said it was confident about growth in 2012. It added that it was not looking to exit its UK rail business, which accounted for 31 per cent of its 2011 [...]
Sportingbet in first-half loss February 29, 2012 ONLINE gaming firm Sportingbet posted a first-half loss hurt by a drop in sports betting in its European segment yesterday, but said its third quarter had started well. The company, which operates in sports betting, casino gaming and poker, said pre-tax loss for its first half to 31 January was £7.2m, compared with a profit [...]
RSM Tenon plans staff cuts February 29, 2012 Advisory and accountancy group RSM Tenon is planning staff cuts as its costs rise, as it confirmed it had made a loss in the first half of its financial year. In the six months to 31 December, the company saw revenues fall 9.3 per cent to £107.8m. Taking into account a goodwill payment of £60.7m, [...]
Siemens wins UK train contract February 29, 2012 Siemens has won a $230m (£144m) contract to supply electric trains for use on British railways, the latest British train contract awarded to the German industrial group. The deal will see Siemens supply 20 Desiro UK trains to Go-Ahead Group’s London Midland and First Group’s TransPennine Express regional route franchises, to be used on routes [...]
Energy finance boss sells shares February 29, 2012 The finance chief of FTSE 100 listed power generator International Power has sold more than £1m of shares that he held in the firm, reducing his stake to zero. Mark Williamson, who has been finance chief of the company since 2003, sold 409,684 shares belonging to him and his wife for 340.5p each, making the [...]
Lawsuit for Healthcare Locums February 29, 2012 Shares in troubled nursing recruitment agency Healthcare Locums fell by more than 20 per cent yesterday after several of its US investors launched a lawsuit against the company. Healthcare Locums came close to collapsing last year when accounting irregularities were found in its books. Hedge funds including Permian and Arundel have joined forces to file [...]
Carillion sees profit hike as orders boom February 29, 2012 SUPPORT services and construction firm Carillion said a brimming order book would fuel growth in 2012 as it posted 2011 profits at the top of expectations. But the British group, which maintains railways and military bases and has a strong construction presence in Canada and the Middle East, warned trading conditions would be challenging. Underlying [...]
Weir appeals over rival bid for Ludowici February 29, 2012 ENGINEERING firm Weir Group came out fighting yesterday as it unveiled plans to appeal against a decision by Australian regulators to allow rival FLSmidth to raise its offer for a company they are both seeking to buy. The group, which specialises in pumps for the mining industry, wants FLSmidth to be held to a statement [...]
MEET THE ADVISERS February 29, 2012 UBS AUSTRALIA THE UBS team advising Weir in its tug of war with FLSmidth is led by Daniel Steijn. The Australia based banker is seeking to steer a successful appeal against Australian regulators’ decision to give the green light to its rivals’ bid for Ludowici. Also advising is Australian law firm Freehills. Freehills has offices [...]
