Cenkos sees profit leap as it fundraises in spite of turmoil September 28, 2011 MID-CAP broker Cenkos looked unfazed by the tough climate for City securities houses yesterday as it posted an almost 200 per cent rise in pre-tax profit in the first half of the year. Shares in Cenkos jumped more than eight per cent as it said profits were up 194 per cent to £5.3m compared to [...]
LSE starts exclusive talks to take over LCH.Clearnet September 28, 2011 THE LONDON Stock Exchange started exclusive talks with LCH.Clearnet yesterday as it closed in on a takeover of the sought-after clearing house. The announcement confirmed that the LSE is now in pole position to buy LCH, Europe’s last independent clearing house, for about €1bn (£870m). While both sides remain locked in talks, the likely acquisition [...]
PRINCESS LAUNCHES OUR APPEAL FOR AFRICA September 28, 2011 CITY LEADERS met royalty at The Savoy on Tuesday night, at a dinner to mark a new partnership between City A.M. and an African microfinance charity that aims to improve the lives of thousands. Guest of honour was HRH The Princess Royal, a patron of the Opportunity International (OI) charity, who told guests including Vallares [...]
Bloomsbury to raise books from the dead September 28, 2011 HARRY Potter publisher Bloomsbury says it will bring out-of-print titles “back from the dead” through a new digital-only imprint. The publisher will focus on books whose English-language rights have reverted back to the author or the author’s estate. Digital sales currently account for around 10 per cent of Bloomsbury’s turnover, with the publisher expecting this [...]
Future considers sale of its struggling US business September 28, 2011 MAGAZINE publisher Future is considering radical strategic options for its US business – which could include a possible sale – with torrid trading there expected to drag full year revenues down six per cent. The specialist publisher, which prints titles on activities including video games and photography, expects sales in its core UK market to [...]
Misys growth fuelled by Asia September 28, 2011 SOFTWARE firm Misys said demand from the Middle East and Asia is more than compensating for growing uncertainty in financial markets. The company, whose products are used by banks and firms dealing in capital markets, said revenue in its first quarter grew four per cent, helped by sales of its next-generation platforms such as BankFusion.
Wary outlook from Smiths as sales rise September 28, 2011 BRITISH technology firm Smiths Group reported profits above expectations yesterday, helped by demand from the oil and gas industry that helped offset weak orders from government agencies for equipment such as airport scanners. Smiths, whose products range from bomb detectors to medical devices and fuel hoses, said pre-tax profit rose 12 per cent to £486m [...]
John Laing plans FTSE push with £155m rights issue September 28, 2011 THE infrastructure fund arm of project management group John Laing is planning to raise up to £155.8m through a capital raising that could push it into the FTSE 250. John Laing Infrastructure Fund (JLIF), which raised £270m in an initial public offering last November, said yesterday that it would issue 148.4m new shares at 105p per share. It [...]
Babcock sees reduction in net debt position September 28, 2011 FTSE 250-listed engineering support services firm Babcock yesterday said that strong cash generation and good trading conditions in the last quarter will help it hit profit targets. The firm said its good cash position means it expects to pay down its debts to leave a debt to underlying earnings ratio of less than two times [...]
ANALYST VIEWS: WHAT IS THE OUTLOOK FOR SMITHS GROUP? September 28, 2011 JONATHAN JACKSON | KILLIK & CO The outlook remains weak, given the continued constraints on government spending, and the group will continue to focus on efficiency… Management hopes to further improve margins through R&D-driven product innovation, acquisitions and further expanding into emerging markets. SCOTT CAGEHIN | NUMIS The message is a consistent story of margin improvement, [...]
