Troubled Serco strengthens its board with three new directors March 3, 2014 SCANDAL-TAINTED outsourcing giant Serco yesterday unveiled the appointment of three new eminent non-executive directors, after hiring a new chief executive at the end of last week. The FTSE 100 firm has hired Rachel Lomax, former deputy governor of the Bank of England, Mike Clasper, former chief executive of BAA and Tamara Ingram, executive vice president [...]
Smith News expects flat profits as competition hits book sales March 3, 2014 SMITH News yesterday announced its pre-tax profits for the first half are likely to be flat compared to last year. In a pre-close statement for the period to 28 February, the company said its newspaper and magazine revenue had performed slightly above recent run rates, and the division’s profit is likely to top last year’s. But [...]
Profits surge at Thorntons after Christmas cheer March 3, 2014 THORNTONS posted a 47 per cent jump in first half profits yesterday as the chocolatier’s three-year plan to scale back its shops and grow its commercial and online channels continued apace. The retailer, which opened its first shop 113 years ago in Sheffield, reported pre-tax profits of £7.2m in the six months to 11 January, [...]
Developers secure £44m to start Shepherd’s Bush Market revamp March 3, 2014 DEVELOPERS regenerating Shepherd’s Bush market in west London have secured £44.1m from Pramerica Real Estate Investors to help kick-start the first phase of the development. Orion Shepherds Bush, a joint venture set up by Development Securities and Orion Land & Leisure, said the funds will be used to buy the market site land from Transport [...]
Car dealership Vertu makes a virtue of its acquisition drive March 3, 2014 CAR DEALERSHIP Vertu has raced ahead of earnings forecasts in the year to the end of February and expects new car sales to accelerate further this year. The firm, which has expanded from 95 to 106 showrooms across the UK in the last year, said like-for-like new car sales rose 21.5 per cent in the [...]
London traffic jams get worse March 3, 2014 LONDON is the second-worst city in Europe for traffic jams, with the average motorist spending 82 hours stuck on congested roads last year, according to research out today. The city’s drivers spent 10 more hours than the previous year waiting for traffic to clear, data firm Inrix said. Brussels was named the worst European city, [...]
Gemfields doubles its revenues March 3, 2014 Gemfields, the Aim-listed precious stones miner that has actress Mila Kunis as its ambassador, yesterday said revenue had more than doubled to $65.7m (£39.3m) for the six months ended 31 December 2013, as demand for emeralds continues to grow. But half-year earnings fell from $19.5m to $18m, due to costs related to its luxury jewellery [...]
Africa Oilfield hires new chief March 3, 2014 Aim-quoted Africa Oilfield Logistics, the Africa-focused support services and logistics company co-founded by ex-England cricketer Phil Edmonds and businessman Andrew Groves, yesterday said it has hired Carl Esprey as its new chief executive, replacing Groves who held the position on an interim basis. Esprey previously worked at Anglo-Australian mining giant BHP Billiton and asset manager [...]
UK mutuals investor to join ISDX March 3, 2014 Capital for Colleagues, the investment vehicle that focuses on the employee-owned-business sector, yesterday said that it has applied to join the London-based ISDX growth market and has conditionally raised £2.19m in a placing. It expects to join on 17 March. “We chose to list on the ISDX growth market because we believe it will allow [...]
City Moves for 04 March 2014 | Who’s switching jobs March 3, 2014 Freshfields Bruckhaus Deringer The law firm has named London-based corporate partner Martin Nelson-Jones as co-head of its infrastructure and transport sector group. He joined in 1991 and became a partner in 2001. BNY Mellon The investment management firm has announced the appointment of Frank La Salla as chief executive of its alternative investment services business. He [...]
