Markets cheer bumper profits at Hargreaves February 6, 2013 FINANCIAL adviser Hargreaves Lansdown was the FTSE’s biggest blue chip riser yesterday after reporting record revenue and profit for the second half of last year. However it warned a new government initiative to boost lending would compress revenue margins for the outfit over the rest of this year. The company, co-founded by Peter Hargreaves and [...]
Analyst Views | What’s in the pipeline for hargreaves lansdown? February 6, 2013 ROBIN SAVAGE CANACCORD GENUITY While first half profit is very close to our forecast, revenues are £2m higher and importantly, assets under administration are £1.5bn (i.e. four per cent) above our expectations. In addition, the equity market has been very strong year to date. We are revising our forecasts upwards. MIKE VAN DULKEN ACCENDO MARKETS [...]
SFO faces £200m Tchenguiz claim February 6, 2013 VINCENT Tchenguiz yesterday released details of his claim for over £200m of damages against the Serious Fraud Office (SFO) over its botched investigation into him. The court filing, which relates to a high profile raid on Tchenguiz and his brother Robert in 2011 over their dealings with failed Icelandic bank Kaupthing, accuses the SFO of [...]
Handelsbanken UK profits leap February 6, 2013 SWEDISH group Handelsbanken recorded solid growth in 2012 with international expansion driving profits, the institution’s annual results showed yesterday. Post-tax profits jumped 18 per cent to SEK14.5bn (£1.46bn) with a 10 per cent rise in interest income providing much of the boost. Expenses increased five per cent with staff costs up eight per cent. UK [...]
Internet boom leads growth in sales at DMGT February 6, 2013 THE SUCCESS of the MailOnline website has led to a boom in digital advertising revenues at the owner of the Daily Mail newspaper. Daily Mail & General Trust (DMGT) said yesterday that advertising revenues at its national newspaper websites had grown 51 per cent year-on-year in the three months to 30 December. This made up [...]
Rupert Murdoch’s News Corp sees quarterly profits double February 6, 2013 MEDIA giant News Corp last night reported a jump in quarterly profits thanks to strong growth at its cable networks. Total revenue at the Rupert Murdoch-controlled business rose five per cent to $9.43bn (£6bn) for the final three months of 2012, while profits more than doubled to $2.4bn. However it spent a further $56m covering [...]
Capex splurge hopes fading February 6, 2013 EUROPEAN firms’ €1 trillion (£863m) cash pile will not be invested in a splurge on capital expenditure thanks to recent improvements in confidence, ratings agency Standard and Poor’s warned yesterday. Fears of years of weak growth in the periphery and the continued chance of a Eurozone break up or collapse continue to plague firms who [...]
The final Canary Wharf tower tops out February 6, 2013 CANARY Wharf Group will today put into place the final piece of steel at 25/30 Churchill Place, the last building in the original Canary Wharf 1988 masterplan to be completed. The 525,000 square feet property has been half pre-let to the European Medicines Agency for 25 years at £46.50 per sq ft. The rest of [...]
Weak volumes hit CME Group February 6, 2013 CME Group yesterday said its fourth-quarter profit fell sharply from a year ago as trading sagged, a decline Wall Street had anticipated given muted market volatility and the US Federal Reserve’s renewed commitment to low US interest rates. The Chicago-based exchange operator said its net income tumbled to $167m (£106m) from $745.9m a year earlier. [...]
ICE nets small rise in income February 6, 2013 American exchange business IntercontinentalExchange, which is in the process of buying NYSE Euronext for $8.2bn, yesterday reported a two per cent rise in quarterly profit, helped by an increase in market data revenues and slightly lower expenses. Net income attributable to the Atlanta-based commodities exchange was $129.5m (£82.7m), up from $126.8m. Revenues fell one per [...]
