ADVISERS DEUTCHE BANK June 28, 2012 GLOBAL head NATURAL RESOURCES M&A Nigel Robinson was one of the advisers from Deutsche Bank who advised Veolia. Robinson is no stranger to big deals and is currently also working on the mega merger between commodities giant Glencore and FTSE 100 miner Xstrata. Robinson joined the bank in 2007 as managing director and head of [...]
DS Smith sees profit increase by 44 per cent June 28, 2012 BRITISH packaging company DS Smith yesterday said its full-year profit rose 44 per cent on strong sales of corrugated paper in Europe. The company, which makes packaging boxes for Procter & Gamble and Nestle, said pre-tax profit for the company rose to £110.2m for the year ended 30 April from £76.7m a year ago. Revenue [...]
Shell again extends its offer deadline in bid to buy Cove June 28, 2012 OIL major Shell again extended a deadline for Cove Energy shareholders to accept its $1.8bn (£1.1bn) takeover offer, leaving the way open to trump a higher bid from rival Thai group PTT Exploration and Production. The two suitors have been battling to buy Cove since February, attracted by the company’s position in huge gas fields [...]
Costain links with Severn Trent June 28, 2012 Engineering group Costain said yesterday it had a strong order book and was trading in line for the full year while securing a joint venture with Severn Trent. The company said its forward order book currently stands at £2.4bn compared to £2.3bn the same time a year earlier. The joint venture with Severn Trent will [...]
OFT says Mercedes broke rules June 28, 2012 The UK’s consumer watchdog said that German automaker Mercedes-Benz and five UK dealers of its trucks and vans may have broken competition law by co-operating illegally. The Office of Fair Trading (OFT) issued a provisional finding alleging that the Mercedes-Benz unit of German automotive group Daimler AG and five UK auto dealers were involved in [...]
Pursuit dives after update June 28, 2012 Shares in fluid technology firm Pursuit Dynamics suffered losses yesterday after it said current year revenues are expected to be around £1m – disappointing investors who had hoped that the company would win more exclusive contracts. The firm also said it plans to reduce its head-count to 40 from the current level of 61. As [...]
Pubbers in need of an everyday treat boost Greene King June 28, 2012 GREENE King’s full year results suggest that the pub industry, if anything, is recession resilient. The pub operator and brewer posted record pre-tax profits of £152m, up 8.6 per cent on the year before, as revenues jumped 9.4 per cent to £1.14bn. Chief executive Rooney Anand told City A.M., “After reaching the £1bn turnover landmark [...]
DO YOU STILL GO OUT TO EAT IN PUBS AND RESTAURANTS? June 28, 2012 MARTIN JACKS SKANSEN INTERIORS “I still go to restaurants and pubs as much as I used to, in fact probably more, as I want to take my mind off everything that is going on economically. People are more picky about where they go and pubs are considered cheaper.” STEPHEN ALLEN RFC AMBRIAN “Of course I [...]
Holidays help bring sales joy to Debenhams June 28, 2012 DEBENHAMS posted better-than-expected sales yesterday after events such as the Diamond Jubilee and the Easter bank holiday helped lure shoppers through its doors despite the wet spring weather. Britain’s second-largest department store group after John Lewis said that sales at stores open more than a year rose 3.1 per cent, excluding VAT, in the 16 [...]
HAS DEBENHAMS WEATHERED THE RETAIL STORM? June 28, 2012 BETHANY HOCKING INVESTEC We turned buyers of Debenhams last week, given the transformation that the company has undergone, increasing cash returns to shareholders and significant growth avenues…This potential is not reflected in the share price. JOHN STEVENSON PEEL HUNT Debenhams has announced a strong third quarter interim statement. Forecasts remain unchanged for now as sales [...]
