Maple’s takeover of TMX in doubt as regulator objects November 30, 2011 THE £2.4bn takeover of Canada’s stock exchange TMX Group by a consortium of local banks was plunged into uncertainty yesterday after the competition watchdog objected to the deal. Competition commissioner Melanie Aitken told the two parties “she has serious concerns about the likely competitive effects of the proposed transactions in the current environment, primarily in [...]
Rolls-Royce seals $650m deal to supply turbines to Petrobras November 30, 2011 ROLLS-ROYCE has been awarded contracts worth up to $650m (£412m) by Brazil’s state oil company Petrobras to support its production activities off the coast of Brazil. Rolls, which has businesses in the aerospace, defence, marine, energy and nuclear sectors, said yesterday it would supply Petrobras with 32 gas turbine power generation packages, including waste-heat recovery [...]
Sage revenue grows while SMEs worry November 30, 2011 SAGE Group, the enterprise software giant, yesterday reported organic revenue growth of four per cent for the year to 30 September despite the adverse economic conditions hitting many of its clients. Revenue, which stood at £1.28bn last year, rose four per cent to £1.33bn this year, including a three per cent growth in software and [...]
ANALYST VIEWS: WHAT WILL YOU TAKE FROM THE SAGE RESULTS? November 30, 2011 JULIAN YATES | INVESTEC Underlying (ex healthcare disposal) profits were a touch ahead of our estimates, but the outlook suggests profit growth will slow… The company is continuing to invest in bringing new technologies to market which means margins are likely to flat-line in FY12 … we see no reason to turn move positive at [...]
Olympus races to hit deadline November 30, 2011 SHARES in scandal-hit Olympus plunged yesterday on fears it would fail to meet an accounting deadline, which would lead to it de-listing. The stock swung during the day, plunging 13 per cent before recovering to close up 2.19 per cent at ¥1,025 (£8.42) after the board said it “planned” to submit its second quarter results [...]
LMS reshuffle to drag on despite boardroom peace November 30, 2011 THE wind-down of troubled private equity fund LMS Capital was mired in uncertainty last night despite a peace deal between warring shareholders. A general meeting was held yesterday but no fixed timetable has emerged on when chairman Robert Rayne will step down. He will remain on the board. Richard Christou is to become chairman and [...]
Alterian looks ahead to double-digit revenue gains in 2013 despite losses November 30, 2011 BRITISH marketing software provider Alterian, which posted a first-half loss, sees double-digit revenue growth in 2013 on the strength of its US and Asian markets, its chief executive said yesterday. “We [can] start to look at increased revenue growth of 15 per cent year-on-year,” chief executive Heath Davies said. The company, which recently received a [...]
Sportingbet profits hit by taxes in Greece and Spain November 30, 2011 ONLINE betting and gaming group Sportingbet said yesterday its revenues had risen by 17 per cent in the first quarter, but that profits before tax fell more than £1m as new European taxes took their toll. The increase took total revenue from £51.1m in the same period last year to £59.9m this year, as the [...]
AEA Technology back in profit November 30, 2011 Technical, energy and sustainability consultant AEA Technology Group has returned to profit according to its six month financial report ending 30 September. Its pre-tax losses fell to £2.1m, down from £8.8m a year ago, and revenue was up five per cent to £53.5m. The group’s lender, Lloyds Banking Group, has agreed financial covenants for 2012, [...]
Daisy Group continues to grow November 30, 2011 Daisy Group, the business communications services provider, yesterday published its six month interim report showing a 32 per cent growth in revenue from £120m to £176m and an operating loss of £6.1m, down 27 per cent from £8.3m last time. Chief executive Matthew Riley said the business had seen a healthy increase in market share [...]
