Both Santander and RBS still have a long way to go December 13, 2011 IN January I looked at how our major banks had fared over 2010, noting that it had been a bad year for perception of Santander, with customer opinion in particular driving scores on YouGov’s BrandIndex downwards at an alarming rate. RBS remained the worst perceived of the big banks, but had made strides throughout 2010. [...]
Petrofac lifts profit target December 13, 2011 OIL services company Petrofac yesterday raised its profit growth forecast for the full year to 20 per cent. The British company, which designs and builds oil and gas infrastructure and also invests with producers in oil fields, said a $10.6bn (£6.8bn) order backlog gave it the confidence to predict strong growth in 2012. It said [...]
ANALYST VIEWS: WHAT IS THE OUTLOOK FOR PETROFAC IN THE YEAR AHEAD? December 13, 2011 ANDREW WHITTOCK | LIBERUM CAPITAL The positive update confirms 20 per cent growth in 2011, a strong pipeline of opportunities and reiterates longer term growth targets. We continue to believe the growth potential deserves a higher multiple. Buy. PETER BASSETT | WESTHOUSE SECURITIES Steady corporate growth continues. The group is also winning more business outside [...]
Bunzl forecasts revenue growth December 13, 2011 Business supplies distributor Bunzl expects to report 3.5 per cent growth in full-year underlying revenue and yesterday flagged earnings growth by pointing to an improvement in the group’s operating margin. The group has forecast six per cent revenue growth this year, with 3.5 per cent of this coming from recent acquisitions.
Fresh Falklands oil discovery December 13, 2011 Shares in Rockhopper and Desire rose by 11 and 2.04 per cent respectively yesterday after the firms struck oil and gas in the North Falklands. Rockhopper, which owns a 60 per cent stake in the well, said hyrdocarbons had been found at four sites. Chief exec Sam Moody said: “This fantastic result from our most [...]
Rio Tinto wins Ivanhoe case December 13, 2011 An independent arbitrator has cleared the way for mining group Rio Tinto to take over Ivanhoe Mines, saying the $16bn Canadian group’s poison pill defence was not valid. Rio Tinto, which owns 49 per cent of Ivanhoe, said it reserved the right to increase its holding to a majority position from 19 January, when an [...]
Sales growth slows at Premier and Costa December 13, 2011 BRITAIN’S biggest hotel operator Whitbread said yesterday its sales growth slowed in its third quarter as tough economic conditions kept customers away from its Premier Inn hotels and Costa Coffee shops, which had previously proved resilient. The group, which also owns the Beefeater and Brewers Fayre pub restaurant chains, said yesterday sales at outlets open [...]
Whitbread still on track despite crunch December 13, 2011 SO Whitbread has finally caught the high street bug. After quarter after quarter of soaring like-for-likes, growth has slowed, as squeezed consumer spending filters down to its Premier Inn and Costa brands. It looks like the hotels have been hit hardest, with growth in revenue per room – a key measure of performance – all [...]
La Senza on the brink as it calls in KPMG December 13, 2011 LINGERIE firm La Senza has called in restructurers from KPMG as it struggles to manage costs during the high street slump. City A.M. understands the British and European business, which is owned by private equity house Lion Capital, is considering entering administration but other options, such as a company voluntary arrangement or winning new investment, [...]
Thomas Cook sells Spanish hotel business December 13, 2011 CRISIS-HIT tour operator Thomas Cook has sold off its interests in a company that owns a golf club and a chain of Spanish hotels in a drive to pay down its £1bn-plus debt pile. The 170-year old firm has sold its 51 per cent stake in Hoteles Y Clubs De Vacaciones to the hotel arm [...]
