Balfour lands Heathrow deal May 28, 2014 INFRASTRUCTURE firm Balfour Beatty yesterday said it had secured a £180m contract with Heathrow Airport. Over the next three years, the FTSE 250-listed company will maintain and upgrade Terminals 1, 2 and 4 at the West London airport. The agreement is the first of four new-style framework contracts to be awarded by Heathrow, as part [...]
Petrofac wins EnQuest deal May 28, 2014 OIL AND gas services firm Petrofac yesterday said it had won a $630m (£377m) contract to maintain EnQuest’s assets in the North Sea. Under the deal, the FTSE 100 company will provide operations and maintenance services to energy explorer EnQuest on the Thistle, Heather and Northern Producer projects, as well as for a floating vessel [...]
Valeant ups bid for Botox maker May 28, 2014 VALEANT yesterday raised the cash component of its unsolicited offer for Botox-maker Allergan, valuing the US firm at $49.44bn (£29.51bn) and ratcheting up pressure on the target company. The Canadian pharmaceutical firm’s sweetened offer for Allergan also included a contingent value right that could be worth an additional $7.6bn, offering to pay $58.30 per Allergan [...]
Bottom Line: Drugs keep a smile on the market’s face May 28, 2014 WITH the Glaxosmithkline (GSK) share price falling only 1.59 per cent, the market seems pretty sanguine about the announcement of an SFO investigation. That shouldn’t be too surprising. While the SFO has the power to levy unlimited fines in the most extreme cases, with so little detail the gravity of this investigation is not yet [...]
Telecity founder backed by Moulton May 28, 2014 Telecity founder Mike Kelly has secured funding from British venture capitalist Jon Moulton to develop his return to the cloud computing with DataCentred, a data centre firm that focuses on handling big data sets. “We always look to invest in an opportunity in which we see high market growth, management commitment and management capability,” said [...]
Caledonia reveals strong performance May 28, 2014 Investment trust Caledonia has revealed strong full-year results for the period ending 31 March. Net asset value per share was up 14.9 per cent on the previous year and the company posted a net asset value of £1.45bn. The annual dividend per share is 49.1p, compared to 47.2p for 2013. Chief executive Will Wyatt said: [...]
Brewin delivers the goods amid cost reductions May 28, 2014 WEALTH manager Brewin Dolphin yesterday reported a near three-fold increase in pre-tax profits after boosting margins and cutting costs. The business, which reshuffled its management in March 2013 by ap-pointing new chief executive David Nicol, said pre-tax profits for the six months ending March this year rose to £21.4m, up from £6.8m. The FTSE 250 [...]
Telford Homes doubles earnings as Londoners clamour for houses May 28, 2014 HOUSING developer Telford Homes saw its profits double over the past year and said it expected them to double again by 2018, thanks to the unsated appetite for homes in the capital. The London-focused group reported yesterday that profit before tax increased to £19m in the year to 31 March, compared with £9m the previous [...]
Tchenguiz former property firm says turnaround plan paying off May 28, 2014 PEVEREL, the property services group that was once owned by Vincent Tchenguiz, said yesterday that its turnaround plan was paying off as parts of the business returned to growth last year. In its first set of results since being bought out of administration, the group said turnover was broadly flat at £72.49m last year while [...]
World Cup tips? Check out who Goldman backs May 28, 2014 WHEN it comes to getting your World Cup odds this summer, you’re more likely to head to Ladbrokes or your mate Tommy down the local boozer than banking giant Goldman Sachs, but there’s a chance you’d be better off going with Goldman. The bank’s World Cup and Economics Guide is out: it backs Brazil to [...]
