City Moves for 19 November 2013 | Who’s switching jobs November 18, 2013 Knight Frank The property company has hired Liz Crawford as an associate within its healthcare team. She was most recently at Humberts Leisure, where she was a director. Prior to that, Crawford was head of licenced and leisure at Lambert Smith Hampton. Axa Investment Management The investment management business has recruited Shajahan Alam as a solutions [...]
Next Fifteen fills finance role November 18, 2013 NEXT Fifteen, the communications group that owns five PR brands including Text100, has appointed the former finance chief of Engine Group as its interim finance boss. The appointment of Peter Harris comes after David Dewhurst’s resignation at the end of last month, at the same time the company issued a profit warning due to audit [...]
ITE in Chinese partnership November 18, 2013 EXHIBITIONS group ITE has announced a new £33m venture in partnership with Hong Kong-based Worldcoat Exhibitions as the company pushes into China. The new partnership, Sinostar ITE, acquired the rights for Worldcoat’s SF China exhibition, showcasing the paint and coatings industries. The partnership is currently a 50/50 investment with Worldcoat as part of ITE’s push [...]
Ahrendts wins top luxury gong November 18, 2013 BURBERRY’S outgoing chief executive Angela Ahrendts collected the top prize at the 2013 Walpole Awards for Excellence last night at the Banqueting House in Whitehall. Ahrendts – who will swap luxury handbags for iPads when she joins Apple next year – was awarded the medal of excellence for her “monumental success in reinventing Burberry”. Walpole’s [...]
Salmond fuels salmon demand November 18, 2013 FLAT whites are so last year – those on the cutting edge of beverages will be quaffing green vegetable drinks in 2014, according to the consumer clairvoyants at Mintel. The research firm said yesterday that new EU rules on caffeine labelling will push drinkers away from coffee and energy drinks and into natural alternatives. Its [...]
Petrofac shares plummet after profit warning November 18, 2013 PETROFAC’S shares plunged nearly 17 per cent yesterday, after the oil and gas services provider warned that next year’s earnings would be hit by project delays. The FTSE 100-listed firm forecast group net income next year to show “flat to modest growth”, due to the expansion of the Upper Zakum offshore oil field development in [...]
New contracts help Mitie post a 9.5pc jump in half-year earnings November 18, 2013 FTSE 250-listed outsourcing group Mitie yesterday posted a 9.5 per cent increase in first-half profits, boosted by a strong performance in its facilities management division. Alongside pre-tax profits of £55.3m, the Bristol-headquartered firm unveiled a 10.5 per cent rise in revenue to £1.05bn. Mitie’s facilities management division has been awarded a number of new contracts [...]
Analyst Views: Do you think the market reaction to Petrofac’s statement was justified? November 18, 2013 MALCOLM GRAHAM-WOOD VSA CAPITAL All the fundamentals are still there for Petrofac. The contracts have just been delayed and will come in 2015, but the market hates that as it’s not good for profits in the short term. It’s still a really good-quality company, but its earnings get hit if there are project delays. CHRISTINE [...]
Orders at Kentz surpass £1bn to keep construction firm on track November 18, 2013 FTSE 250-listed construction firm Kentz yesterday said it is trading in line with expectations and reiterated its guidance of double-digit earnings growth this year. The company – which rejected two takeover approaches this summer, including one from larger peer Amec – reported an order intake of $1.8bn (£1.1bn) for the first ten months of the [...]
Northcote Energy on target November 18, 2013 Onshore US oil and gas exploration company Northcote Energy yesterday announced its production levels were up after the successful fracture stimulation of the West Little Drum Well on its 51 per cent owned Horizon Project, Oklahoma. The company said with six other wells due to be fractured it was on track to hit its upgraded [...]
