CRH bullish as its profits beat forecast February 28, 2012 BUILDING materials group CRH said yesterday that full-year profits came in ahead of forecasts for its debut results as a FTSE 100 company. CRH said the outlook for 2012 is positive despite rising energy costs and a weaker economic picture in Europe. The Irish company is strong in the US, where it is the major [...]
GKN boosted as luxury car market gets into gear February 28, 2012 CAR and plane parts maker GKN said yesterday a strong performance from its cars business was behind a 15 per cent rise in 2011 profit, as sales of luxury cars like Audi and BMW rose and demand in China remained strong. The company reported pre-tax profits of £417m on revenue 13 per cent higher at [...]
Apple reaches $500bn value February 28, 2012 SHARES in Apple closed at a record high of $535.41 last night, valuing the company in excess of $500bn. The tech giant, already the world’s biggest listed firm after surpassing Exxon, becomes one of just six public companies worldwide to ever pass the $500bn equity value barrier, with its market cap set to hit the [...]
Criminal probe into the Libor February 28, 2012 THE JUSTICE Department is conducting a criminal probe into whether the world’s biggest banks manipulated a global benchmark rate, according to a person familiar with the situation. While the Justice Department’s inquiry into how the London interbank offered rate, or Libor, is set had been known, the criminal aspect of the probe was not. The [...]
Serco profits rise as Asia drives growth February 28, 2012 OUTSOURCING firm Serco will target further expansion in fast-growing markets in Australasia and the Middle East in 2012, after the regions helped it ride out tougher times in its core UK and US markets. FTSE 100-listed Serco, which runs services from the Docklands Light Railway to prisons and air traffic control centres around the world, [...]
Costs dent Perform’s results February 28, 2012 DIGITAL sports rights group Perform yesterday revealed its first annual results since floating on the London Stock Exchange last April, showing strong revenue growth despite a steep drop in pre-tax profits. Revenues rose 53 per cent to £103.2m leading to a £14.7m net profit excluding one-off costs, up 45 per cent on 2010. But unadjusted [...]
Yahoo battles for licensing fees as it launches patent war with Facebook February 28, 2012 THE ever-growing string of patent lawsuits between technology firms has branched out to social media companies as Yahoo and Facebook scrap over intellectual property. Waning search site Yahoo has asserted claims on a variety of mechanisms used by Facebook, including the way it operates its adverts, privacy controls, news feed and messaging service. The list [...]
Ziggo set for expected IPO filing this week February 28, 2012 DUTCH cable-television company Ziggo is expected to file for its IPO today or later this week and could be looking to raise up to €800m (£677.4m) from the sale of 15 to 20 per cent of the company. Some think the float could make more than €1bn, making it the biggest IPO in Western Europe [...]
UBM looks to a good 2012 as earnings jump February 28, 2012 MEDIA and communications firm UBM beat market expectations with a 13 per cent rise in full-year earnings per share to 56.8p after an “outstanding” performance from its events division in the final quarter. The group posted adjusted pre-tax profit of £177.4m on revenues of £972.3m, an increase of nine per cent. Analysts predicted £161.6m and [...]
Broker ICAP snaps up biofuels dealer February 28, 2012 ICAP, the world’s largest interdealer broker, has purchased European biofuels dealer Sun Commodities for an undisclosed sum. Geneva-based Sun was established in 2008 to capitalise on the booming market – both physical and derivative – for alternative fuels such as bioethanol, biodiesel and vegetable oils produced from rape, soya and palm. The firm’s existing staff, including [...]
