ANALYST VIEWS | HOW SHOULD INVESTORS TAKE HALFORDS’ RESULTS? July 19, 2012 DAVID JEARY INVESTEC [This year] looks set to be tough, and clearly a change of CEO adds an element of uncertainty to the business. However, strategy is unchanged, cash generation remains strong, supporting our unchanged dividend forecast. AURELIE CASPAR BANK OF AMERICA MERRILL LYNCH We think the shares should react positively to newsflow today as [...]
Profits jump at Paragon July 19, 2012 Buy-to-let mortgage firm Paragon Group said yesterday its operating profit had reached £68.9m for the nine months to 30 June 2012, a strong performance in line with management expectations. The group put the 17 per cent increase, up from £58.9m last year, down to its acquired portfolio of consumer loans. Pre-tax profits, including a £600,000 [...]
Coller raises $5.5bn for sixth fund July 19, 2012 Coller Capital has raised $5.5bn (£3.5bn) – 10 per cent more than initially targeted – to buy private equity investments from banks and other investors. The money will fund its sixth so-called secondaries fund. Coller was one of the first firms to specialise in buying positions in private equity funds, as well as acquiring portfolios [...]
Vivendi mulls sale of Brazil unit July 19, 2012 Vivendi is considering selling its Brazilian telecom unit GVT, sources said last night. A sale of GVT could be worth up to €8.5bn and comes after the French group’s exploratory talks to offload video games unit Activision Blizzard found few takers at the price it sought. “A sale of GVT is no longer taboo and [...]
Co-op trends on Twitter after Lloyds decision July 19, 2012 There were many at the Co-op’s headquarters near Manchester who never thought it would happen. Not the successful bid for the Lloyds branches that Lloyds had been forced to sell for competition reasons by the EU. Despite a few jitters, Co-op insiders were always confident of clinching a deal. But one thing did surprise many [...]
200m sign up for Runescape July 19, 2012 The Capitalist has played a little FIFA 2012 and has heard of Angry Birds but until yesterday had not been aware of another computer game called Runescape. Yesterday the creators of Runescape, a company based in Cambridge called Jagex, claimed the adventure fantasy game now has 200m registered users, making it, they claim, the most [...]
TEN YEARS ON FROM BURBERRY IPO July 19, 2012 BURBERRY chief executive Angela Ahrendts (left) and LSE boss Xavier Rolet (right) commemorate the tenth anniversary of Burberry’s flotation on the London markets. Burberry’s share price has increased 436 per cent since its flotation, a reminder that there was once a way to make good money from London IPOs.
Wood Group’s board reshuffle sparks bid talk July 19, 2012 OIL INDUSTRY services firm Wood Group said yesterday its chief executive Allister Langlands will step up to the chairman’s role and Bob Keiller, currently in charge of the part of the business that maintains oil pipelines, will replace him. The sweeping shake-up at the top of the company also sees Ian Wood, who has been [...]
Actelion raises its earnings forecast thanks to cost cuts July 19, 2012 ACTELION raised its earnings outlook for 2012 yesterday as cost cuts helped Europe’s biggest biotech company to post a first-half profit despite its most important drug facing tough competition in the US. Actelion said it now expects core earnings to grow in a mid single-digit percentage range for 2012, compared with previous guidance for no [...]
Shanks units hit by slowing trade amid gloomy economy in some July 19, 2012 SHANKS yesterday warned that the tough economic climate had hit some sections of its business. In particular, the company said that its solid waste section was suffering. Chief executive Peter Dilnot said: “While market conditions continue to be challenging, particularly in our Solid Waste businesses, our organics, UK municipal and hazardous waste businesses are performing [...]
