Severfield hires ex-Kier director Lawson as chief September 26, 2013 BELEAGUERED British steelmaker Severfield-Rowen yesterday said it has hired Ian Lawson as its new chief executive, effective from 1 November. Lawson was previously a director at FTSE 250-listed construction firm Kier. Severfield-Rowen, which provided steel for London buildings including the Shard and the Cheesegrater on Leadenhall Street, plunged into the red this year, prompting an [...]
BHP latest miner to tap debt market with new $5bn bond September 26, 2013 FTSE 100-listed miner BHP Billiton yesterday priced a $5bn (£3.1bn) bond and said it would use the proceeds for “general corporate purposes”. The debt issuance is BHP’s largest in over a year and the firm’s first US debt sale since February 2012. The new debt facility comprises $500m floating rate notes due 2016, $500m 2.050 [...]
Balfour wins £87m contract September 26, 2013 FTSE 250 infrastructure group Balfour Beatty yesterday unveiled an £87m contract to develop new commercial and retail space between Regent Street and Haymarket. Work is expected to start in the autumn and is due for completion in summer 2015. The scheme will provide 260,000 square feet of space across two eight-storey blocks. The contract is [...]
Internet sales suit Moss Bros as revenues rise September 26, 2013 SUIT-seller Moss Bros yesterday posted a 1.7 per cent rise in like-for-like sales as it pushes on with an expansion online. The firm said revenues rose 1.2 per cent to £53.3m for the half-year to 26 July, while profits were broadly flat at £2.23m. Internet sales jumped 164 per cent, though finance director Robin Piggott [...]
Chinese to splash cash in London September 26, 2013 LONDON’S high-end retailers are expecting a boom in spending by Chinese customers next week, as tourists flock to the capital during Golden Week – the country’s annual October holiday. Last year, luxury stores saw an increase of 31 per cent in Chinese spending during the holiday, while during Chinese New Year in February sales rose [...]
Mitchells & Butlers bullish for full year despite fourth quarter slip September 26, 2013 PUB AND restaurant group Mitchells & Butlers said yesterday that sales had slipped in the fourth quarter but that it was still on track for the full year. The firm, which counts the Harvester chain, All Bar One and O’Neill’s among its brands, said like-for-like sales were down one per cent in the nine weeks [...]
H&M boosted by summer collections September 26, 2013 SWEDISH fashion retailer Hennes & Mauritz looked to put a poor run of form behind it yesterday as it posted forecast-beating results for its fiscal third quarter, helped by strong demand for its summer collections and cost control. Pre-tax profit stood at 5.83bn Swedish crowns (£566m) against a year-ago 4.9bn and beating a mean forecast [...]
City Moves for 27 September 2013 | Who’s switching jobs September 26, 2013 Cushman & Wakefield The real estate services firm has announced the appointment of Carl Foreman as a partner, and head of UK property and asset management. He joins from Jones Lang LaSalle, where he was a national director. BlackRock Mark Wharrier has joined the investment management company’s UK equity team as a director and portfolio manager. He will [...]
Compass expects strong revenues September 26, 2013 Compass Group, the world’s biggest caterer, said yesterday it expected revenue growth of 4.5 per cent for the full year after a strong year of contract wins in its core North American market. The firm, which operates in 50 countries and serves 4bn meals a year, said that excluding acquisitions, organic revenue growth at constant [...]
WS Atkins on track for full year September 26, 2013 Engineering consultancy WS Atkins yesterday said its first-half performance remains in line with expectations, boosted by strong growth in the UK. The FTSE 250-listed firm said that it expects profits in its Middle East business to be weighted towards the second half of the year, with first-half performance impacted by project delays and restructuring. Its [...]
