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 [...]
Provident Financial boosted by lower bad debt charges February 28, 2012 LOWER bad debt charges boosted full-year profits at sub-prime lender Provident Financial, and the company said yesterday that it was confident of further growth in 2012, lifting its shares to their highest level since February 2001. Provident Financial, which lends to people who cannot get credit from mainstream banks and whose roots date back to [...]
Should UK forces intervene in Syria? February 28, 2012 AFTER Syria’s United Nations envoy stormed out of an emergency meeting yesterday, leading the US to denounce President Assad’s regime as “delusional”, we’re asking our City panel what they think of escalating violence in the country. Fayassal al-Hamwi, Syria’s ambassador in Geneva, accused members of the UN Human Rights Council of promoting terrorism and prolonging [...]
SONY ASKS BRUSSELS FOR EMI BID APPROVAL February 28, 2012 A CONSORTIUM led by Sony has asked Brussels to give the green light to its EMI takeover bid, which would see the record label’s music publishing business (owner of the rights to Beyonce’s music) bought by the group for $2.2bn (£1.38bn). The European Commission has until 2 April to respond. Indie music representative Impala has [...]
Elementis falls as profits grow February 28, 2012 Shares in Elementis fell by almost five per cent yesterday, making it one of the biggest losers on the London Stock Exchange, after the speciality chemicals supplier reported 2011 results below analyst expectations. Despite raising its full-year dividend as adjusted pre-tax profit rose by over a third, shares dipped by seven per cent, before recovering [...]
