Jon Moulton’s Better Capital will raise £67m in LSE listing June 10, 2010 JON Moulton’s Better Capital will raise £67m as it steps up to the main London Stock Exchange market, just six months after listing on Aim. The group hopes to attract more investors attracted by the stricter regulatory stipulations in place for main market-listed firms. It will issue 64.3m new shares at 105p each – a [...]
Indian duo mull Brewin Dolphin as takeover target June 10, 2010 STOCKBROKER Brewin Dolphin yesterday found itself the subject of intense speculation around a potential takeover offer from Indian billionaires the Hinduja Brothers. The Hinduja Group refused to comment on the rumours, though it is known to have cash at hand for acquisitions in Europe. Just last month, the group agreed a €1.35bn (£1.11bn) deal to [...]
Halfords eyes new deals as profit surges June 10, 2010 HALFORDS is plotting more acquisitions with a hit list of up to a dozen targets. The bicycle and car parts company said it was hungry for expansion as it posted a 27 per cent jump in its annual profit yesterday. Halfords, which in February bought car servicing firm Nationwide Autocentres for £73m, made a pre-tax [...]
Strauss takes captaincy stranglehold June 10, 2010 NATIONAL selector Geoff Miller insisted there was “never any doubt” that Andrew Strauss would continue as England’s one-day captain despite missing out the World Twenty20 triumph. Strauss was confirmed as skipper for the five-match series with Australia this month, fronting a 13-man squad, which includes a surprise selection for back-in-favour Ian Bell and the addition [...]
Home Retail is hit by slump at Argos June 10, 2010 HOME Retail Group posted a bigger-than-expected drop in first-quarter sales at its Argos stores, hit by a drop in demand for video games and televisions. The group, which also runs Homebase, said economic conditions were challenging and uncertain but that it was still aiming to deliver flat profits over the full financial year, in line [...]
PZ Cussons is confident of its full-year results June 10, 2010 SOAP and shampoo maker PZ Cussons said it was on track to meet full-year forecasts, even though trading conditions in the UK remain tough. The firm, owner of the Imperial Leather, Carex and original Source brands, said yesterday its results for the year to 31 May “are anticipated to be in line with expectations.” PZ [...]
No World Cup magic June 10, 2010 WITH the start of the World Cup just days away, fans have been splashing out on flat-screen TVs. It’s strange then that the bigger-than-expected slump in Argos revenues was driven by weak TV sales. If the catalogue retailer can’t shift tellys in the run up to the year’s biggest sporting event, when can it? This [...]
Net-a-Porter to cater for men June 10, 2010 The net-a-porter group is to launch a menswear site. “Mr Porter” will launch for the spring/summer 2011 season, with brands including global designer labels such as Burberry, Ralph Lauren, Lanvin, YSL, Gucci, Margiela, Balmain, Dunhill, Margaret Howell, Rick Owens, John Lobb and MR by the designer, Roland Mouret. There will also be style advice on [...]
Park profit dips but revenue rises June 10, 2010 Christmas hampers and financial services firm Park reported a fall in pre-tax profit yesterday, while revenues increased. Pre-tax profit fell to £5.3m from £6.2m a year earlier, for the year to 31 March. However, revenue increased to £263.2m from £250.5m and operating profit leapt by 38 per cent. A final dividend of 0.88p per share [...]
VAT hike hit by think tank June 10, 2010 A leading policy think tank has slammed the expected VAT hike, claiming a bank tax would be a fairer way of cutting the deficit. The Institute for Public Policy Research (IPPR) says the improved economic conditions should allow banks to pay an additional £20bn a year in tax. It claimed the tax revenue could be [...]
