Aga Rangemaster cooks up a storm in Britain but goes off the boil in Europe November 19, 2014 Aga Rangemaster warned yesterday that continued weaker trading in Europe, particularly in its French and Irish businesses, would hold back its growth for the financial year as a whole. However, the upmarket kitchen cooking range maker said its UK operations were trading well. It has been buoyed by increased activity in the UK housing market, [...]
Ofcom appoints Steve Unger as CEO until next year November 19, 2014 Communications watchdog Ofcom yesterday announced the appointment of Steve Unger as interim chief executive until the post is filled permanently in early 2015. He will replace Ed Richards who leaves his post at the end of the year. Unger is currently director of the strategy, international, technology and economist group at the regulator. Richards resigned [...]
HICL reports an almost doubling of half-yearly profits to £132m November 19, 2014 HICL Infrastructure yesterday reported that its first-half pre-tax profit rose to £132m from last year’s £71.4m. Profit after tax improved to £131.9m from £71.3m in the prior year. HICL, which has Ed Miliband’s old school Haverstock in its portfolio, said the prior year results had been restated to reflect the early adoption of accounting standard [...]
Upp: Intelligent Energy looks to make a bomb with hydrogen charger November 19, 2014 Technology group Intelligent Energy yesterday announced that Upp, its hydrogen-powered, USB-compatible charger was now available at Apple stores across Britain. It can now also be ordered from the Upp website. The starter pack consists of an Upp fuel cell and a reusable Upp cartridge. A full Upp cartridge powering a smartphone can typically [...]
Intertek cutting guidance as revenue falters November 19, 2014 SHARES in UK product-testing firm Intertek plunged 7.76 per cent yesterday after it cut full-year guidance. Intertek reported third-quarter 2.5 per cent revenue growth at constant currency, but exchange rates resulted in 5.1 per cent decline for the quarter. Organic revenue growth ceased as it exited certain low-value industry contracts, accounting for a fall to [...]
Peppa Pig owner Entertainment One doubles its profit to £2.4m but revenues fall November 18, 2014 Entertainment One, the company behind Peppa Pig, yesterday said it was confident in producing profit growth in line with full-year expectations as it forecast improvements in film box office performance. Its forecast came despite weaker film revenues offsetting growth in television in its first half. The FTSE 250-listed company posted a pre-tax profit of £2.4m, [...]
Botox maker Allergan accepts $66bn Actavis takeover bid as Valeant walks November 17, 2014 Botox maker Allergan yesterday accepted a $66bn (£42bn) takeover bid from Actavis, creating one of the top 10 biggest pharmaceutical companies in the world. The takeover ended a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International. Dublin-based Actavis offer amounted to billions more than Canada’s Valeant was prepared to pay. Valeant [...]
Masala record: Government hails historic 10bn rupee bond issuance in London November 17, 2014 Britain yesterday welcomed the International Finance Corporation’s (IFC) announcement that it has issued a 10bn rupee bond in London today, the largest ever rupee bond to be issued on the London Stock Exchange. It is also the longest issue ever for an offshore rupee bond – dubbed the masala bond – with a maturity of 10 [...]
Tyson sales up but it has beef with income November 17, 2014 TYSON Foods, the largest US meat processor, yesterday reported a better-than-expected quarterly profit. Sales increased 13.6 per cent to $10.10bn (£6.45bn) in the fourth quarter ended 27 September, Tyson said. But net income attributable to Tyson nearly halved to $137m, , down from $261m in the same period last year. “Operating income decreased for the [...]
Bodycote revenue increases but a difficult year predicted for 2015 November 17, 2014 Engineering group Bodycote yesterday reported a 2.9 per cent rise in group revenue for the four months between 1 July to 31 October, despite stagnation in European growth. Revenue from oil and gas was up 13.6 per cent, as demand from the North American onshore sector continued to improve, and revenue for subsea applications grew [...]
