Woodford tops market again November 14, 2013 EDINBURGH Investment Trust, the fund led by star manager Neil Woodford, yesterday said it had beaten the market average after a boost from shares in BT. The value of investments in the £1.3bn fund’s investments rose 4.4 per cent versus the FTSE All Share average of 3.8 per cent for the six months ending September, [...]
Walker Crips back in black November 14, 2013 UPMARKET fund manager Walker Crips swung back into profit over the half-year after restructuring its business and selling assets, it said yesterday. Operating profits came in at £300,000 for the six months ending September, reversing a £1.1m operating loss versus a year ago. Revenues rose 10 per cent to £9.7m helped by better business in [...]
3i Group hikes dividend after £530m sell-off November 14, 2013 INVESTORS in listed investment firm 3i Group will reap the benefits of a bumper sale spree at the company after it announced plans to boost its dividend payout. The FTSE 250-listed firm, which is the oldest private equity investor in Britain, sold off £528m of private equity investments over the six months ending September amid [...]
Damac sets its flotation price November 14, 2013 DUBAI luxury housing developer Damac Real Estate yesterday kicked off the book-building process for its initial public offer of shares in London, the first float by a Dubai property firm since the emirate’s real estate crash four years ago. Firms controlled by Damac chair Hussain Sajwani expect to sell at least $500m (£311m) of Global [...]
EADS profits up on jet order rise November 14, 2013 EADS, the parent company of plane maker Airbus, yesterday lifted its forecasts for jet sales as profits and spending both jumped. The Paris-based firm said revenues rose seven per cent to €40bn (£33.5bn) while earnings before one-offs jumped 22 per cent to €2.3bn in the first nine months of the year. Due to the popularity [...]
WH Smith sales dragged down by high street November 14, 2013 BOOKS, newspaper and stationery retailer WH Smith said yesterday that underlying revenues fell four per cent over the last 10 weeks, hit by a slump in sales at its high street stores. The 221-year-old group said that like-for-like sales at its 615 high street stores fell six per cent in the 10 weeks to 9 [...]
Ted Baker’s autumn range is a hit as it continues overseas push November 14, 2013 TED BAKER shares surged over five per cent yesterday after the fashion retailer revealed that group sales leapt by 24.4 per cent to £77m in the third quarter of the year. The company said all channels were flourishing, with retail sales up 19.8 per cent to £58.1m in the 13 weeks to 9 November, driven [...]
Great Portland lifted by return in confidence November 14, 2013 WEST End property developer Great Portland Estates posted a 9.2 per cent leap in first-half net asset value and said it expected the strengthening economy to support the capital’s property market as more companies find confidence to move. The company, which owns offices and shops in central London, said diluted net asset value per share [...]
Charles Stanley buys Tory MP’s firm to boost funds offering November 14, 2013 INVESTMENT firm Charles Stanley yesterday said it had agreed to buy fund manager Evercore Pan-Asset Capital Management, the business co-founded by Tory MP John Redwood. The company, which offers broking services to investors, has bought the outfit as part of its push into the intermediary space. Evercore offers investors so-called passive investment funds – which [...]
Perform in £4m profit downgrade November 14, 2013 Sports media group Perform saw its share price fall 14.8 per cent yesterday after it warned that full year earnings would be around £4m lower than expected. The earnings downgrade was due to a poor second half performance from its technology and production arm. Perform, which boasts billionaire Len Blavatnik as its biggest shareholder, also [...]
