First Group expects jump in first half train revenue September 29, 2011 FIRST Group yesterday said that higher fares had failed to dent demand for train travel, with like-for-like passenger revenue expected to increase by nine per cent in the six months to the end of September. The group, which runs First Capital Connect commuter services in London, said it was looking forward to expanding its number [...]
Ryanair boss steps up attack on Aer Lingus September 29, 2011 MICHAEL O’Leary, the chief executive of low-cost airline Ryanair, yesterday stepped up his attacks on Ireland’s national carrier Aer Lingus. He called for the company to pay a special dividend to give them value for their investments. In an open letter to the airline’s management, Ryanair – which owns 30 per cent of Aer Lingus – ridiculed [...]
Tate & Lyle is on track for a profits boost September 29, 2011 SWEETENERS and starches maker Tate & Lyle sees a year of profitable growth, helped by strong demand for its sucralose zero-calorie sweetener Splenda and higher prices for its by-products. The group saw strong growth in sucralose volumes due to the product’s use in more food and drink products, and expects to benefit from higher prices [...]
Alexon rescued after pre-pack deal with Sun Capital gets the go-ahead September 29, 2011 FASHION retailer Alexon has become the latest casualty of the economic downturn, going into administration before being sold to private equity firm, Sun Capital Partners. The so called pre-pack administration with KPMG, which secures continuing employment for Alexon’s staff of about 2,700, was agreed yesterday after the firm failed to secure additional funding, leaving it [...]
Compass sales point upwards September 29, 2011 COMPASS Group, the world’s biggest caterer, said full-year sales should rise, with strong growth in emerging markets and North America likely to offset a sluggish performance in Europe. The company, which provides meals for office workers, members of the armed forces and schoolchildren across the world, said revenues for the year to October would rise [...]
H&M SET ON GROWTH DESPITE POOR SUMMER September 29, 2011 HENNES & Mauritz pledged to push on with its aggressive expansion despite yesterday reporting its fourth consecutive fall in quarterly profits, as the strong Swedish currency and wet summer weather depressed sales in several key markets. Net sales for the third quarter were flat at SKr26.9bn (£2.5bn) while net profits fell 15.4 per cent to [...]
Osmond’s APR expects lift from Cat deal September 29, 2011 APR Energy, the temporary power business owned by entrepreneur Hugh Osmond, expects a surge in new business after it signed an emerging markets development deal with Caterpillar. The five-year contract will see APR work with Caterpillar and Florida agent Ring Power, with Caterpillar supplying mobile generator sets to APR Energy. APR will gain access to [...]
Unite COO heads for the door September 29, 2011 THE CHIEF operating officer of Unite Group, Britain’s largest listed student landlord, will leave the company as part of a management shake-up designed to save £2.5m a year. John Tonkiss (pictured), who has been with the firm for 10 years, will leave on 31 December as a series of changes are introduced. The moves, which [...]
Pensions watchdog gives Capita £105m contract September 29, 2011 OUTSOURCING group Capita will be able to issue fines of up to £400 after winning a £105m communications contract with the Pensions Regulator. The seven-year deal, which begins next month, is to educate employers about the automatic enrolment of staff into workplace pension schemes. The new regulations are being rolled out between October next year [...]
London 2012 IMAGE OF THE WEEK September 29, 2011 LONDON 2012 | LEAPS AND BOUNDS London 2012 Olympic hopeful J.J. Jegede performed a world-first long jump over three limited edition London 2012 Minis at Potter’s Field on Wednesday morning. Between now and the start of the 2012 Olympic and Paralympic Games, City A.M. is publishing its Olympic Image of the Week. We welcome photographs [...]
