Severn Trent raises dividend and spending May 30, 2012 WATER company Severn Trent beat annual profit forecasts yesterday as it promised shareholders a special dividend and raised spending on upgrade work. Pre-tax profits fell 38.1 per cent to £156.7m as the firm spent around a fifth more on infrastructure improvements, leak reduction and repairs. Without exceptional charges, the firm reported underlying profit before tax [...]
Daily Mail’s editor sells almost all of his shares in parent DMGT May 30, 2012 DAILY MAIL editor Paul Dacre has sold nearly three quarters of his shares in parent company DMGT, according to a regulatory filing. Dacre sold more than 100,000 A shares on Tuesday, netting him more than £400,000, a company filing shows. He is left with just 37,861 shares in the company, which also owns the Metro [...]
Brewin Dolphin’s new finance director set to replace Bayford May 30, 2012 BREWIN Dolphin will step into the next calendar year under new financial leadership, the investment management firm announced yesterday. Andrew Westenberger is set to assume the role of group finance director on 1 January 2013, replacing Robin Bayford. Bayford, who joined the board of Brewin Dolphin in 1990 and was appointed finance director the following year, is [...]
ANALYST VIEWS | HAVE SEVERN TRENT’S RESULTS MADE A SPLASH? May 30, 2012 DOMINIC NASH LIBERUM CAPITAL The numbers are a small beat. In a continuing trend amongst utilities both interest and tax charges were lower than expected.. Operationally, the company appears to be doing well. JAMES BRAND DEUTSCHE BANK Severn Trent reported slightly disappointing full year results in our view. Although it announced a special dividend, this [...]
Fresh shake-up at Trinity Mirror May 30, 2012 Media group Trinity Mirror made the long-serving editors of its flagship daily and Sunday tabloids redundant yesterday saying it was moving to a seven-day publishing model to improve efficiency. The company appointed Lloyd Embley, previously editor of its Sunday tabloid The People, to edit both titles. “Richard Wallace and Tina Weaver will leave the company [...]
Moody’s cuts Danish bank ratings May 30, 2012 Credit rating agency Moody’s last night downgraded the ratings for nine Danish financial institutions including Danske Bank, Danske’s Finnish subsidiary Sampo Bank, Jyske Bank, Sydbank, Spar Nord Bank and Ringkjobing Landbobank. Moody’s said the downgrade reflected “the risk that some institutions’ concentrated loan books deteriorate amidst difficult domestic and European conditions, with adverse consequences on [...]
Bank of England announces staff May 30, 2012 The Bank of England announced three new members of its Court yesterday – effectively the board of non-executive directors. Former McKinsey partner Bradley Fried, Cairn Capital founder Tim Frost and trade UNISON general secretary Dave Prentis are joining the Court, replacing Brendan Barber, Mark Tucker and Harrison Young who step down at the end of [...]
Apple boss says he is intensely interested in TV May 30, 2012 APPLE chief executive Tim Cook said technology for televisions was of “intense interest” yesterday but stressed the company’s efforts would unfold gradually amid speculation the iPad and iPhone maker was on the brink of unveiling a revolutionary iTV. Industry insiders and executives say Apple may unveil a TV-based device in late 2012 or 2013 that [...]
Property firm plans a £200m London venture May 30, 2012 LONDON & STAMFORD, the property firm run by real estate veterans Patrick Vaughan and Raymond Mould, is to set up a £200m venture with two sovereign fund partners to buy homes in central London. The company will own 40 per cent of the venture, while Middle Eastern partner Green Park Investments and a second unidentified [...]
St Modwen and Telford upbeat on south east May 30, 2012 PROPERTY developers Telford Homes and St Modwen said the residential property market in London and the south east of England remained robust and would underpin their growth in 2012. East London residential developer Telford Homes said pre-tax profits for the year to the end of March leapt 20 per cent to £3m, helped by its [...]
