Enterprise Inns rockets on steady revenue rises February 9, 2012 ROBERT Walker, the chairman of Travis Perkins, was appointed chairman of Enterprise Inns yesterday as the UK’s biggest pub landlord revealed revenue increases. Average income per pub grew one per cent on a like-for-like basis for the 18 weeks to 4 February, while the average pub upped profits by five per cent. Beacon delivered the [...]
Rank tanks in Spain yet sees firm UK growth February 9, 2012 BRITISH gaming group Rank has reported a steady increase in profits, boosted by its flagship casino business, despite faring badly in Spain. The group generated revenues of £295.9m in the second half of 2011, up three per cent, of which £125.8m came from Grosvenor Casinos and £117.4m from Mecca Bingo. Grosvenor profits jumped 11 per cent [...]
Rolls positive on 2012 as its earnings soar February 9, 2012 ROLLS-ROYCE yesterday reported a 21 per cent rise in full-year profit, triggered by demand from airlines for more fuel-efficient planes, and said it expects further progress in 2012. The world’s second-largest maker of aircraft engines behind General Electric reported underlying 2011 pre-tax profits of £1.16bn compared with a forecast for £1.15bn. This prompted the firm [...]
BG Group eyes higher output despite setbacks in shale gas February 9, 2012 BRITISH gas producer BG Group said it expects to grow production at seven per cent per year to 2020, even as weak US gas prices force it to scale back its shale gas drilling activity by 80 per cent. BG also gave a buoyant outlook for its liquefied natural gas (LNG) sales division yesterday, as [...]
Tate & Lyle’s growth slows February 9, 2012 TATE & LYLE said it was on track to deliver a “good performance” for the full year to March, with operating profits in line with expectations despite experiencing slower growth in the third quarter. Shares fell more than three per cent yesterday, making it one of the worst performers in the FTSE 100, after the [...]
Etihad posts its maiden profit February 9, 2012 ARABIAN airline Etihad yesterday posted its first net annual profit, crediting new partnerships and strong cost control for the $14m gain on revenues up 36 per cent to $4.1bn. The eight-year-old firm said passenger numbers rose 17 per cent to 8.3m during the year, and it said further growth was expected from its recent deal [...]
LLOYD’S WEIGHS RISK OF OFFSHORE GAMBLE February 9, 2012 LLOYD’S of London is moving offshore, as The Capitalist hears the insurance group has entered a team in one of the world’s most competitive yacht races – a two-day zigzag around 11 Caribbean islands that is a magnet for seafaring captains of industry. First to arrive in the Caribbean was Marshall Bailey, the COO of [...]
London 2012 | IMAGE OF THE WEEK February 9, 2012 REFLECTING ON 2012 | OLYMPIC STADIUM AND TOWER This photo was taken by Jessica Glass as part of the BT Storytellers project. Jessica is just one of 100 people from across the UK who are taking part in a campaign to record the story of the London 2012 Olympic and Paralympic Games. The BT Storytellers [...]
Doughty in €355m Spain deal February 9, 2012 BUYOUT group Doughty Hanson has bolstered its presence in the private healthcare market by agreeing to buy Spain’s third largest private hospital operator for €355m (£298m). It will take USP Hospitales, a Madrid-based hospital chain, off the hands of creditors Barclays and Royal Bank of Scotland (RBS). The firm’s bid represents a nine times multiple [...]
Greek drama fails to hurt Hargreaves February 9, 2012 INVESTMENT manager Hargreaves Lansdown said the Eurozone crisis would drag on “until Greece goes bust” as it revealed a jump in profits. Co-founder Peter Hargreaves told City A.M. the seeds of a recovery had been cut off by the “perpetual” problem of Greece and the single currency. “Greece will never pay its debts. The tanks [...]
