BP starts new clean up as chair hits out May 25, 2010 BP is preparing to blast the well leaking oil into the Gulf of Mexico with thousands of barrels of mud as it launches the “top kill” phase of its clean up efforts later today. Meanwhile, the oil giant’s chairman has hit back at critics of the company’s response to the disaster, reminding them BP is [...]
Pennon to hike dividend payouts after good year May 25, 2010 PENNON is to lift its dividend payment by four per cent a year for at least the next five years as the water and waste management company delivered a 14.2 per cent hike in profits last year. The group’s chairman, Ken Harvey, said the board intends to raise its dividend each year until at least [...]
BSS upbeat despite 23pc drop in profits May 25, 2010 PLUMBING specialist BSS remained positive yesterday despite posting a 23 per cent fall in profits last year as the company navigated its way through one of the toughest years in the last seven decades. The Leicester-based group said pre-tax profits for 2009, which fell to £44.2m from £57.8m, were less than it would have liked [...]
EX-SEYMOUR PIERCE BOSS COMES OFF THE SLOPES AND BACK TO CITY May 25, 2010 IT was only going to be a matter of time before Richard Feigen popped his head back over the proverbial parapet after resigning from broker Seymour Pierce at the turn of the year. Feigen, one of the best-known corporate financiers in the City, handed in his notice in January following a month-long internal investigation at [...]
C&C pins hopes on new Magners ads May 25, 2010 C&C Group hopes a series of new ad campaigns and acquisitions will help to arrest declining sales in its Magners brand. The UK cider market has been growing around five per cent a year but Magners has seen a reversal in fortunes. Chief executive John Dunsmore said: “Magners has lost substantial market share in the [...]
M&S sees 5pc profit jump as Rose moves on May 25, 2010 MARKS & Spencer yesterday reported a rise in profits as new chief executive Marc Bolland prepared to take over the reins at the high street giant. The figures were the last to be presented by outgoing chief Sir Stuart Rose, who said the handover was going “smoothly”. M&S recorded a pre-tax profit of £632m for [...]
Dyson to take over at Punch May 25, 2010 IAN Dyson will take over as Punch Taverns’ chief executive in September. The current finance head of Marks & Spencer (M&S) will take up the challenge of being boss of the UK’s largest pub company. Punch’s chief executive, Giles Thorley, will stay on board “until an orderly handover has been completed”, Punch said in a [...]
ANALYST VIEWS: ARE THE M&S RESULTS SATISFACTORY? May 25, 2010 MATTHEW MCEACHRAN | SINGER CAPITAL MARKETS “Although current ranges are winning back customers, new chief executive Bolland will be under pressure to improve investor sentiment. This might take time but, after a period of sector underperformance, the shares appear to be slightly oversold. Bolland will need to draw on all his management skills.” KATE CALVERT [...]
De La Rue profits hit by surging pension deficit May 25, 2010 DE La Rue, the world’s biggest non-governmental printer of banknotes, yesterday announced plans to cut its pension deficit after restructuring charges and pension costs hit profits. An early April valuation of its UK final salary pension scheme showed a deficit of £204m, from £56m in April 2006, as declining asset values and longer life expectancy [...]
Ovoca Gold plans a 10 per cent buyback of shares May 25, 2010 Ovoca Gold said yesterday it plans to seek approval to repurchase up to 10 per cent of the company’s issued share capital by way of on-market share buybacks. The company does not currently have the authority to repurchase its own shares. Ovaca said it has a strong balance sheet of US$43m (£30m) in net cash [...]
