Markit earnings get a lift after going to market November 12, 2014 Financial information services provider Markit yesterday reported year-on-year revenue growth across all of its three main business lines for the second quarter running. The London-based, Nasdaq-listed firm reported a 13 per cent year-on-year rise in revenues during the third quarter to $269.7m (£170.5m), while adjusted profit was up 14.5 per cent to $126.8m. The three [...]
SeaWorld profits tank as whale of a controversy proves a killer November 12, 2014 SEAWORLD Entertainment yesterday reported a 28 per cent dive in profits as weakening attendance carried into the most recent period. The company has been dogged by negative publicity over its treatment of killer whales. For the quarter ended 30 September, it posted profits of $87.2m (£55.2m), down from $120.7m a year earlier. Revenue fell 7.9 [...]
Hyundai’s land purchase woes spark buyback November 11, 2014 HYUNDAI and its affiliate Kia Motors yesterday announced they would buy back a combined 670bn won (£383m) of shares, marking the South Korean auto makers’ latest efforts to appease investors angered by the company buying property at three times it value. Hyundai said it would buy back 449bn won of common and preferred shares, while [...]
OptiBiotix Health inks deal with Reading University to start pharma trials November 11, 2014 OptiBiotix Health yesterday announced it had signed a deal with the University of Reading to start clinical studies on the company’s products. The deal will cover the start of clinical trials testing OptiBiotix’s first product, a capsular food supplement designed to reduce cholesterol. The data from the studies, which will involve one of its Lactobacillus [...]
CRH says sales growth slows November 11, 2014 Building materials company CRH yesterday said its operating earnings and like-for-like sales grew in the third quarter, although at a slower pace than in the first half, as growing demand in the US offset moderating markets in Europe. It also reiterated its forecast for earnings growth of about 10 per cent in the whole of [...]
Strong pound knocks Fenner November 11, 2014 Fenner, the maker of reinforced polymer technology, posted a drop in annual profits and revenue yesterday, reflecting currency headwinds and difficult trading conditions in the US and Australia. Pre-tax profit fell to £29.2m in the year ended 31 August from £66.4m the previous year. Revenue dropped to £729.4m from £820.6m. The strength of sterling against [...]
Moller-Maersk posts $1.5bn profit as Danish shipping and oil group beat analyst expectations November 11, 2014 Danish shipping and oil group AP Moller-Maersk yesterday reported a net profit of $1.5bn (£945m) for the third quarter of 2014. This was above analysts’ forecasts, with a Reuters poll resulting in an average forecast of $1.38bn, and the company attributed the increase to better profits in its oil and container shipping business Maersk Line. [...]
Dean Foods milks cost-cutting measures with profit forecast November 10, 2014 AMERICA’S largest milk processor Dean Foods yesterday forecast its first quarterly adjusted profit in a year, due to cost cuts and a steep fall in butterfat prices. The company’s shares surged 13.73 per cent to $16.40 – a three- month high. It also reported a smaller-than-expected adjusted loss for the third quarter. Dean Foods said [...]
Senegal discovery boosts Cairn November 10, 2014 SCOTLAND-based oil and gas explorer Cairn Energy yesterday announced a second oil discovery off the coast of Senegal in West Africa. The company described the find as “significant”, adding that the oil was of high quality. Shares in the company soared 12.1 per cent on the news, to close at 177p. The discovery was made [...]
Caterham raises £1m in 48 hours in bid to race at Abu Dhabi Grand Prix November 9, 2014 British Formula One team Caterham have raised over £1m in just 48 hours in a bid to race at the season grand finale, the Abu Dhabi Grand Prix on 23 November. The cash-strapped team’s administrators revealed a plan on Friday to raise £2.35m in order to make it to the starting grid. The crowdfunding scheme [...]
