Wood Group benefits from contract renewals May 14, 2014 ENERGY services firm Wood Group yesterday maintained its full-year trading outlook and said its performance for the year to date had been slightly ahead of expectations in two of its divisions. Its oil and gas services unit benefited from contract renewals secured in 2013 and continued strong demand in the North Sea. The FTSE 250-quoted [...]
Premier Oil on track to meet full-year production guidance May 14, 2014 PREMIER Oil yesterday said it was on track to meet full-year production guidance, as the FTSE 250 energy company looked to expand its operations this year. The company, which spurned a takeover offer from peer Ophir Energy last month, said production during the first four months of the year was up 13 per cent on [...]
GKP warns on payment lag May 14, 2014 GULF Keystone Petroleum’s share price plunged over seven per cent yesterday, after the oil explorer warned there would be a delay receiving payments from exports and that it had technical issues at its flagship Shaikan field in Kurdistan. With $24m (£14.3m) outstanding on crude oil sales, this gives uncertainty to revenue guidance for 2014, said [...]
Ecotricity breathes new life into wind turbine firm with buyout May 14, 2014 GREEN energy firm Ecotricity yesterday said it had bought small wind turbine maker Evance out of administration and planned to bring the firm’s new technology to market in the next 12 months. Evance had completed 90 per cent of an innovative new windmill design when it was put into administration last month after investors were [...]
ISS maintains outlook despite costs from float May 14, 2014 Danish cleaning and services firm ISS, which recently listed on the Copenhagen stock market, yesterday posted a first-quarter loss of 223m krone (£24.4m), most of which came from costs related to the float and refinancing. But its outlook for 2014 remains unchanged.
Magnolia Petroleum swings into the black in 2013 May 14, 2014 US oil explorer Magnolia Petroleum yesterday posted a 244 per cent rise in 2013 revenue to $2.4m (£1.4m), after ramping up drilling activity last year. The Aim-listed firm swung into profit, unveiling earnings of $975,622, up from a loss of $359,944 in 2012.
BHP mulls sale of its Australian nickel business May 14, 2014 BHP BILLITON yesterday said it was considering selling off its nickel business in western Australia, as the miner pushes ahead with plans to streamline its portfolio. “The review is considering all options for the long-term future of Nickel West, including the potential sale of all or parts of the business,” said the firm. The asset [...]
Engineer Renishaw slumps as strong pound knocks earnings May 14, 2014 ENGINEERING firm Renishaw made one of the biggest losses on the FTSE yesterday, after revealing a nine per cent fall in third-quarter profit, hit by a strong pound. The company, which is listed on the FTSE 250 index, reported pre-tax profit of £14.4m, but said this would have been £2.2m higher at last year’s exchange rates. [...]
Fyffes hails melons ahead of banana tie-up May 14, 2014 FYFFES, the Irish fruit company that is about to merge with Chiquita, yesterday reported strong quarterly trading, helped by “a very good performance” from melons. The firm posted a 3.4 per cent rise in revenues to €306.5m (£182.8m), while profits before tax increased 18.4 per cent to €15.8m. The selling price of bananas and pineapples fell [...]
Mondi’s profits rise 13 per cent May 14, 2014 PAPER and packaging firm Mondi yesterday unveiled a 13 per cent rise in first-quarter underlying operating profit to €183m (£148.9m), due to growing demand. But the FTSE 100 company warned that “the trading environment remains mixed” and said planned maintenance shuts would lower full-year operating profit by between €50m and €60m. Average selling prices in [...]
