BTG jumps as US approves its vein treatment November 26, 2013 SHARES in British pharmaceutical firm BTG jumped yesterday after it said US regulators had approved its varicose vein treatment that uses an injectable foam to dissolve the veins as an alternative to surgical removal. Varithena, previously known as Varisolve, has taken more than a decade to win approval, as the company had to answer concerns [...]
UK housing boom hikes earnings at buy-to-let specialist Paragon November 26, 2013 SOARING buy-to-let lending boosted Paragon’s profits in the year to September, the specialist lender said yesterday. Pre-tax profits jumped 10.4 per cent to £105.4m, up from £95.5m in the previous 12-month period. Total operating income increased 4.5 per cent to £177.9m, while operating expenses increased 12.9 per cent to £58.6m. Earnings per share increased 17.4 [...]
Greencore draws a line under horsemeat as revenues rise November 26, 2013 GREENCORE posted a robust rise in full-year profits yesterday after recovering in the second half from a slump in the ready meal market caused by the horsemeat scandal. The food group, which makes own label products such as sandwiches and desserts for major supermarkets, said revenues increased by three per cent to £1.19bn in the [...]
Pub chain M&B gets boost from better margins November 26, 2013 SHARES in British pubs group Mitchells & Butlers (M&B) soared yesterday after it announced better-than-forecast sales and operating margins. Analysts said the company’s operating margins were stronger than expected, rising to 16.5 per cent from 16 per cent, helped by Mitchells & Butlers’ restructuring programme. The company, whose brands include Harvester and All Bar One, [...]
IGas starts exploratory drilling in Barton as first half profits drop November 26, 2013 SHALE gas explorer IGas yesterday said it has begun exploration drilling at Barton, Greater Manchester, as it unveiled first-half profits that had more than halved from last year. The company posted relatively flat revenues of £36.2m, compared to £33.4m in the first half of last year. But pre-tax profits fell from £10.23m in the first [...]
Investors oust chairman in coup at Bowland fracking outfit Dart November 26, 2013 SHAREHOLDERS in UK shale developer Dart Energy have backed a boardroom coup, voting out the chairman and his allies despite his warning that the move was an attempt to acquire the company on the cheap. New Hope Coal, leader of the coup, cited years of poor performance. The move comes amid intense investor scrutiny of [...]
Analyst Views: What do you make of Mitchells & Butlers’ results? November 26, 2013 NICK BATRAM PEEL HUNT Full year numbers were slightly ahead of our expectations. It is early days but the start to the current year looks relatively lacklustre. However, the group is moving in the right direction and whilst the share price is about right we would see any significant weakness as a buying opportunity. GEOF [...]
Orrick and Pillsbury chairs call off plan for mega US law firm merger November 26, 2013 ONE of the biggest proposed US law firm mergers of the year has been called off, the leaders of the two firms confirmed yesterday. The potential merger between the California-based Orrick Herrington & Sutcliffe and Pillsbury Winthrop Shaw Pittman in New York would have created one of the largest law firms in the country. But [...]
Clifford Chance re-elects London managing partner Bickerton November 26, 2013 CLIFFORD Chance’s David Bickerton has been handed a second term as London managing partner of the Magic Circle law firm, following an uncontested election. The firm confirmed yesterday that Bickerton, who was first elected to the role in November 2009, would serve a further four-years in charge of the London office. Clifford Chance’s London operations are [...]
San Leon completes fracking test November 26, 2013 Dublin-headquartered oil and gas explorer San Leon Energy yesterday said its latest fracking test in the Gdansk region in Poland’s northern Baltic Basin has exceeded expectations. The company will now perform a flow test to quantify the gas flow rate and potential from the resource. “We look forward to finishing the clean up after running [...]
