House firm Miller’s revenues soar September 12, 2013 House-building group Miller yesterday posted a 27 per cent jump in half-year revenues to £361.5m and a nine-fold rise in profits to £4m as sales and asking prices rose. Privately-owned Miller, which completed 819 homes across the UK in the period, said it has already secured buyers for 92 per cent of its full-year target [...]
Eurocell seals the deal September 12, 2013 The UK’s biggest window frame recycler was sold yesterday by its private equity backer, sealing a deal more than 15 years after the two first joined forces. Derbyshire-based Eurocell, which makes the plastic trim around window frames, has been sold by Belgian owner Tessenderlo, which first bought the company in 1998. The group has been [...]
Gulf Keystone hires Deutsche Bank September 12, 2013 Gulf Keystone Petroleum, the oil and gas explorer that won a longstanding court case earlier this week against Excalibur Ventures, yesterday said that it has hired Deutsche Bank to advise on its proposed move from Aim to the main market. “We are making progress in achieving our goal to move to the main market by [...]
City Moves for 13 September 2013 | Who’s switching jobs September 12, 2013 Aviva Investors The investment management business has appointed Andrew Davey as assistant fund manager to its Lime Property Fund. He joined the company in 2007. Deloitte Real Estate Steve Johns has joined the real estate business to head its City leasing team. Johns previously spent 17 years at Cushman & Wakefield, and was most recently [...]
Fund manager of the year September 12, 2013 Fund managers have faced a triple challenge this year – winning back money from hesitant investors, sailing through stormy markets and dealing with operational headwinds. The entrants in this year’s category represent the best of those who have successfully navigated their way through on three all fronts. SCHRODERS Schroders has this year managed to successfully [...]
Private equity manager of the year September 12, 2013 After a period of relative quiet following the financial crisis, private equity firms have this year found their feet again with a host of audacious deals and mega money fundraisings. This year’s award recognises those firms leading the pack to combine cutting edge dealmaking with strong corporate structures. DONALD MACKENZIE CVC CVC’s co-founder Donald Mackenzie [...]
Best of the brokers for 13 September 2013 September 12, 2013 BETFAIR Betfair retains its ‘hold’ rating after an encouraging interim management statement, with a target price of £9.45. Active UK customers have increased by 26 per cent in August, and international markets have performed ahead of expectations even where investment has ceased. MELROSE INDUSTRIES Citi research downgrades Melrose to ‘neutral’, but raised its target price [...]
London Report: Lacklustre trade leaves FTSE 100 treading water September 12, 2013 SUPERMARKET chain Wm Morrison was among the top gainers on the UK’s FTSE 100 yesterday after posting its first-half results but the index continued to toil around the 6,600 level. Wm Morrison Supermarkets rose 1.8 per cent with traders citing dividend, outlook, and valuation attractions as a trigger for short covering after the firm’s first-half [...]
New York Report: US market falls back following seven day gain September 12, 2013 US STOCKS slipped yesterday, ending seven straight days of gains by the S&P 500 index as a drop in precious metal prices dragged mining shares lower. Spot gold fell 2.6 per cent to $1,331 an ounce as tensions with Syria eased and on worries the Federal Reserve will begin to scale back its monetary stimulus [...]
Dyke scores key victory as top clubs join FA’s crusade September 12, 2013 FOOTBALL Association chairman Greg Dyke achieved the first victory on his mission to address England’s failings when the Premier League yesterday agreed to join his task force. Dyke expects the commission to meet for the first time before the end of the month, as set out in his speech last week, with a view to [...]
