Belt-tightening customers hit Vodafone sales February 7, 2013 PLUNGING sales in southern Europe pulled Vodafone’s revenues down during the final three months of 2012, as wary consumers cut their phone bills. The company saw revenues fall by two per cent year-on-year to £11.4bn as weakness in Spain and Italy moved service revenue – the amount customers pay on their mobile phone bill – [...]
A divided world sends a series of gloomy messages February 7, 2013 VODAFONE has been a lucrative stock for shareholders of late, at least in terms of the billions in dividends and share buybacks: £10.2bn in cash returns in 2012 alone. Investors seemed ready to keep the faith yesterday, buoying the share price. But at some point the fundamentals have to reassert themselves. And on the latest [...]
Playtech boosted by William Hill stake amid buyback talks February 7, 2013 ONLINE gambling software group Playtech has been boosted by record performance at William Hill Online (WHO), the internet bookie in which it has a 29 per cent stake. Playtech said a 71 per cent year-on-year rise in its share of William Hill Online’s profit during the fourth quarter of last year, along with its own [...]
Supermarket Ocado edges towards profit February 7, 2013 ONLINE grocer Ocado yesterday narrowed year-end losses from £2.4m to just £600,000 as it edged ever closer towards profitability, easing the concerns of long-suffering investors. Shares in the company, which has not made a profit since it began trading thirteen years ago, yesterday closed up 11 per cent at 115.9p. This is still well below [...]
Analyst views | Are you happy with Ocado’s results? February 7, 2013 PHILIP DORGAN PANMURE GORDON 2012 was another difficult year for Ocado. It failed to deliver accelerated sales growth and it needed to raise money… The debate now moves on to whether its assets are attractive to either M&S or Morrison and, if so, at what price? DARREN SHIRLEY SHORE CAPITAL Ocado’s 2011/12 preliminary results came [...]
Punch Taverns leaps on debt restructuring February 7, 2013 SHARES in Punch Taverns rose by a fifth yesterday as the company said months of negotiations to restructure its colossal debt pile were nearing an end. The company said it had strong support from many of its biggest shareholders and creditors for a new proposal over its £2.4bn debt pile. The new plans are set [...]
Philanthropy in the City at JP Morgan awards February 7, 2013 TO the Lord Mayor’s Mansion House for JP Morgan’s eighth biennial Beacon Awards for Philanthropy. The Capitalist was pleased to see a City Philanthropy category introduced this year, especially to honour the City’s unsung philanthropes. Sponsored by the City of London Corporation’s charity, City Bridge Trust, three City Fellowships were given out – to chair [...]
Saracens and England star Matt Stevens reigns pie and mighty February 7, 2013 ONLY in the world of rugby would four elite sportsman take on the challenge of a pie-eating contest, in the name of good PR. And that is what four Saracens players did this week when they took part in their own version of man versus food. The players scoffed Laverstock pies, which will be sold [...]
Facebook and Google top list of tech buyers February 7, 2013 FACEBOOK and Google were the most prolific buyers of private technology companies in 2012, with the two web firms splashing out on 16 companies each as tech acquisitions hit their highest level for years. Financial data firm Privco revealed yesterday that acquisitions of private US technology firms reached 2,357, up from 22 per cent in [...]
Ophir Energy falls on share sale despite finding gas in Tanzania February 7, 2013 SHARES in Africa-focused oil explorer Ophir Energy plunged yesterday, as Credit Suisse said it placed 36m shares on behalf of the investment funds of investors Och-Ziff Capital Management and Mittal Investments. The shares were sold at a price of 475p per share, raising £171m. Both institutional shareholders have agreed to a lock-up period of 90 [...]
