Countryside orders jump April 28, 2015 HOUSEBUILDER Countryside said its forward order book swelled by 86 per cent to a record £197m in the last six months thanks to the UK recovery, but warned that the General Election was causing a slowdown in planning approvals. The private equity-backed firm completed 949 homes in the period to 31 March, up 18 per [...]
Segro upbeat on UK rents April 28, 2015 WAREHOUSE developer Segro posted a strong start to the year yesterday thanks to low vacancy rates across its sites and improving rental levels in the UK and Europe. The FTSE 250 group said it completed 71,700 square metres of developments in the first quarter, including big box logistics assets for Volkswagen and Zabka in Poland, [...]
Merck easily beats market expectations April 28, 2015 US DRUG firm Merck reported better than expected quarterly earnings and sales yesterday. Merck said it earned $953m (£622m), or 33 cents per share, in the first quarter, compared with $1.71bn, or 57 cents per share, in the same period last year. Excluding certain “special items” products, Merck earned 85 cents per share, well above [...]
Mini-breaks back on the calendar as confidence returns – Brand Index April 28, 2015 YouGov’s study into travel plans shows an industry on the up. An increase in consumer confidence is leading to a growth in the percentage of people that expect to spend more on holidays within the next 12 months. Our research found that the expected spend in 2015 per household on major holidays is £2,303, compared [...]
US financial services giant buys stake in TH Real Estate for £80m April 28, 2015 TIAA-CREF, the US financial services giant, said yesterday it has bought the remaining 40 per cent stake in TIAA Henderson Real Estate it did not already own from joint venture partner Henderson Global Investors for £80m. The pair created the investment management firm in 2013 after combining Henderson’s European and Asia Pacific property arm with [...]
Henderson gets boost from EU bond buying April 28, 2015 FUNDS firm Henderson Group reaped the benefits of European quantitative easing in the first quarter after inflows surged to a new record. The FTSE 250-listed fund manager, led by chief executive Andrew Formica, lured £3.6bn into products for the three months ending March. Strong allocations from retail investors, amounting to £2.9bn, helped drive overall assets [...]
Ford sales ease off the gas amid product switch April 28, 2015 FORD saw a fall in profits for the first three months of the year as its sales in North America were dampened by a product switchover. Globally, the firm sold 1.57m vehicles, down 21,000 compared with a year earlier, according to its financial results released yesterday. Fewer vehicle sales were registered in North America – [...]
Bridgepoint gets theatrical with £356m deal for Nordic Cinema April 28, 2015 BRIDGEPOINT yesterday snapped up the Nordic Cinema Group, the region’s biggest movie theatre chain, for 4.7bn Swedish crowns (£356m). The Pret-a-manger owner has agreed to buy a 58 per cent stake owned by previous private equity owner Ratos and a 40 per cent stake belonging to media group Bonnier. Management retains a stake and Bonnier [...]
St James’s Place dashes to punchy rise in funds April 28, 2015 WEALTH group St James’s Place continued its strong run of form last quarter after it beat analyst estimates for funds under management. The FTSE 100 group, led by chief executive David Bellamy, reported assets of £55.8bn, ahead of estimates of £55.1bn. The group has added £10bn of assets in the last 12 months. New business [...]
Allied Minds hires new chairman after posting more heavy losses April 28, 2015 ALLIED Minds has appointed a new chairman, Peter Dolan, after posting another round of heavy annual losses. The innovation company, that forms, funds and manages startups based on early-stage technology from US universities and research centres, announced an operating loss of $57.9m for the year to the end of December – widening from $42.6m the [...]
