Helical Bar points to recovery in regional property as profits soar November 28, 2013 LONDON-FOCUSED property developer Helical Bar yesterday said it had made a record profit of £68.9m in the six months to the end of September. The firm’s earnings jumped from £5.2m a year ago after it booked gains on the sale of 200 Aldersgate and its Brickfields site at White City. Helical’s portfolio gained 3.5 per [...]
LondonMetric rejigs its portfolio and sells off three retail parks November 28, 2013 LONDONMETRIC, the real estate group formed in February from the merger of London & Stamford and Metric Property, yesterday posted a jump in profits as the company worked to revamp its portfolio. Pre-tax profits rose from £28m a year ago to £50.9m in the six months to the end of September. The firm bought properties [...]
Burberry moves to protect its tartan in China November 28, 2013 BURBERRY Group has appealed a decision by Chinese authorities to cancel trademark protection for the British trenchcoat maker’s iconic tartan pattern, the British company said in an emailed statement on yesterday. China is one of Burberry’s top markets, with the Asia Pacific region accounting for 37 per cent of revenues in 2013. However, an economic [...]
Creston stumbles but marketing wins promise a better second half November 28, 2013 MARKETING firm Creston reported a nearly 80 per cent slump in profits during the first half of the year yesterday, missing market expectations and causing the company’s share price to drop by over seven per cent. The drop was due to the firm’s US agency losing a key contract and Creston’s high level of pitching [...]
E.On prepares to sell its Italian unit and eyes £2.5bn valuation November 28, 2013 GERMAN utility E.On has started preparations for the sale of its Italian business and will soon begin the search for a buyer, four people familiar with the matter said, at a price likely to be about €3bn (£2.5bn). Burdened by a massive expansion of renewable energy capacity, falling wholesale prices and tepid energy demand in [...]
Hibernia raising €350m for Irish property spree November 28, 2013 PROPERTY investment group Hibernia yesterday revealed plans to float in London and Dublin to raise €350m (£291.4m), which it aims to spend on the recovering real estate market in the Irish capital. Hibernia will be managed by Kevin Nowlan, who previously looked after assets for Nama, Ireland’s so-called bad bank that is dealing with distressed [...]
Character Group is on track for a merry Christmas as profits return November 28, 2013 TOY PRODUCER and distributor Character Group may have a jolly Christmas after all, having swung from a loss in the first half of the year to a £720,000 pre-tax annual profit. The firm, which makes Peppa Pig, Postman Pat and Doctor Who toys, said a 25 per cent jump in international sales had helped offset [...]
Arrow Global’s earnings soar in debt collector’s maiden results November 28, 2013 DEBT collection firm Arrow Global reported a 45 per cent rise in collections to £93.3m during the nine months to 30 September, following its market debut last month. Profits rose 86 per cent to £17.7m during the period driven by an increase in core collections for the firm. “We see a strong pipeline of portfolio [...]
Solid trading in the US and UK helps Wolseley November 28, 2013 BRITISH plumbing supplies group Wolseley posted like-for-like revenue growth of 3.5 per cent in its first quarter yesterday, boosted by strong trading in the US and Britain which offset weaker European markets. The company, which operates the Plumb Center and Ferguson chains in Britain and the US said trading profit for the group was up [...]
Network Rail slammed for not spending its budget on repairs November 28, 2013 NETWORK Rail has been criticised for spending £1.2bn less than expected on maintaining the railways over the last four years and causing more than half of the delays endured by British passengers. The Office of Rail Regulation said Network Rail was responsible for 1.7m minutes of delays between April and October, after infrastructure failures rose [...]
