IMI revenues reach £1bn mark August 25, 2011 Global engineering group IMI posted higher than expected half-year revenue results, topping the £1bn mark. The FTSE 100 company said revenue for the six months ended 30 June rose from £925m to £1.032bn, reflecting continued improvement in trading conditions in their end markets. Pre-tax profit increased by eight per cent from £133.5m last year to [...]
Hikma sales in line with forecast August 25, 2011 Jordanian group Hikma Pharmaceuticals reported a 10.4 per cent rise in first-half sales to £241.3m, in line with forecasts. First-half sales and profit were hit by political upheaval in the Middle East and north Africa. The Amman-based company expects to resume normal business in Libya by the end of the year as the country becomes [...]
Hunting raises dividend by 8pc August 25, 2011 International energy services group Hunting’s basic earnings per share rose 95 per cent to 10.7p, it announced yesterday, as the company said it would hike its interim dividend by eight per cent to 4p. First half revenues rose by 30 per cent to £251.3m in the six months to the end of June, helped by [...]
The trials of Jobs August 25, 2011 Steve Jobs’ shock resignation was followed by the inevitable panic. Jumpy investors piled out of Apple stock, knocking $25bn from its market cap, most of which was soon recouped. But it will be months and years, not days and weeks, until the effects of his loss become clear. A man of his talent and vision [...]
Without founder Apple will lose edge August 25, 2011 ONE of the rooms in my father’s house is full of old Apple products, a kind of museum of Macs gone by. Those made between 1985 and 1997 – the period of Steve Jobs’ exile – are rubbish. The worst, such as the Newton, an early tablet computer, are so bad that they are pristine, [...]
New boss Cook says he will not change the firm August 25, 2011 NEW Apple boss Tim Cook last night promised his tenure will continue the legacy of Steve Jobs. In his first action as chief executive he told employees: “I want you to be confident that Apple is not going to change. “I cherish and celebrate Apple’s unique principles and values. Steve built a company and culture [...]
CITY VIEWS: DO YOU THINK APPLE WILL SURVIVE AFTER STEVE JOBS? August 25, 2011 MARK PEARCE | SEVEN BANK “The company was accomplished before Steve Jobs, so why can’t they survive now?” RICHARD WATKINS | ADAMSON & PARTNERS “I think so. Apple is so well established, even with the departure of Jobs they have made history.” PAUL HARROWER | BNP PARIBAS “Yes, it is such a large company that [...]
CITY MOVES | WHO’S SWITCHING JOBS August 25, 2011 Berenberg Bank The private bank has strengthened its new London private banking operation, launched in January, by appointing Max White as a director to focus on clients in the Channel Islands, the Isle of Man and the North West. White (pictured) joins from Morgan Stanley, where he spent eight years in the private wealth management [...]
BEST OF THE BROKERS August 25, 2011 JOHN WOOD GROUP Investec rates the oil and gas group as “hold” with a target price of 689p, and has revisited its forecasts for the company following its recent results. The broker anticipates a stronger performance by the engineering division, in addition to lower costs and a lower tax rate, and so raises both 2012 [...]
FTSE ends in the red as hopes of intervention from Fed wane August 25, 2011 BRITAIN’S FTSE 100 fell yesterday, snapping three days of gains as investor hopes dwindled that Federal Reserve chairman Ben Bernanke would signal more stimulus measures and a rumour about a German short-selling ban triggered profit taking. The blue chip index fell deep into the red on talk a short selling ban may be enacted in [...]
