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 [...]
Impax completes £287m fundraising for its green power private equity pot September 29, 2011 ENVIRONMENTAL investment fund Impax has completed the €330m (£287m) fundraising for its second private equity fund. Impax New Energy Investors II is a private equity and infrastructure fund set up to invest in renewable power projects and companies across Europe. Ian Simm, chief executive of Impax, said the climate for raising new assets is challenging. [...]
Shanks on track for the full year September 29, 2011 Waste management firm Shanks said yesterday that trading is in line with its expectations for the six months ending 30 September, and remains on track to meet company expectations for the year. Underlying market conditions have been as anticipated, with stable recyclate prices, and ongoing pricing pressures in the Netherlands have been offset by cost [...]
Homeserve expects profit growth September 29, 2011 HomeServe, the international home emergency business, said yesterday that it expects its first-half profits to be ahead of last year and in line with company expectations. The company said that customer numbers last year were more than 5m and it expects the total to be around five per cent higher this year. Total policies are [...]
Tepco faces $110bn financing hole September 29, 2011 Tokyo Electric Power, the operator of the stricken Fukushima nuclear power plant in Japan, faces a funding shortfall of up to $110bn (£70bn) over 10 years, according to sources citing a government report. Tepco, which must submit a business plan by the end of October, said it would not comment on the report until it [...]
