Bumi director urges Rothschild to return his 16m bonus shares February 4, 2013 WITH just over two weeks to go before Bumi’s boardroom battle on 21 February, senior independent non-executive director Julian Horn-Smith has called on co-founder Nat Rothschild to give up more than 16m bonus shares. Rothschild was granted the shares when his acquisition vehicle Vallar bought Bumi assets in 2011. “It is now clear that the [...]
Randgold tops FTSE 100 risers on record profit February 4, 2013 GOLD miner Randgold Resources yesterday posted record production and profits for last year, despite a tough time at some of its African operations. The FTSE 100 miner logged profits of $511m (£325m) over the year, up 16 per cent. Production was up 14 per cent, at 794,844 ounces of gold. Quarter on quarter, profit in [...]
Salamander soars as it strikes oil at the North Kutei basin off Indonesia February 4, 2013 SHARES in explorer Salamander Energy soared yesterday as it said it had discovered oil at a well offshore Indonesia. The London-listed explorer said yesterday that it had discovered 40 metres of net oil and gas in sandstones in the North Kutei basin – part of Salamander’s multi-well drilling programme – off the coast of Indonesia. [...]
Anadarko moves back into black for 2012 fourth quarter February 4, 2013 ANADARKO yesterday reported fourth-quarter net income of $203m (£128.8m) – a big improvement on the $358m loss at the same time last year. Adjusted net income for the quarter was $457m, or 91 cents a share, compared to $423m or 85 cents a share at the same time last year. Analysts had forecast the company [...]
KFC poultry probe leaves bad taste for Yum Brands February 4, 2013 KFC parent Yum Brands yesterday warned it expects 2013 per-share earnings to shrink rather than grow, as it grapples with a food safety scare that ensnared some of its chicken suppliers in its top market. The company, which gets more than half of its overall sales and operating profit from China, reported a six per [...]
Analyst Views | What should investors watch out for in Randgold’s results? February 4, 2013 TIM DUDLEY CANACCORD GENUITY Randgold guided production in a range of 900-950,000 ounces, representing a 13-19 per cent increase over 2012, based on more conservative guidance for Tongon and Morila than our forecast of 950,000 ounces. We maintain our “buy” rating. KATE CRAIG LIBERUM CAPITAL 2012 production was broadly in line with our numbers. Cash [...]
EnQuest hits output targets February 4, 2013 Producer EnQuest hit its production targets for 2012, it said yesterday, producing an average 22,802 barrels a day. The FTSE 250 explorer, which last month became the first oil company to launch a retail bond, had given guidance of between 20,000 and 24,000 barrels of oil equivalent a day. EnQuest added that the first oil [...]
Rolls-Royce wins Air Lease order February 4, 2013 Rolls-Royce has netted an order for its Trent XWB engines worth $1.1bn (£699m) at list prices from leasing company Air Lease Corporation. The engines will be used to power 25 of Air Lease’s Airbus aircraft. Additionally, Air Lease has an option for an extra five aircraft. The Trent XWB engine – specially designed for the [...]
Sumitomo buys Surrey water February 4, 2013 Japanese trading house Sumitomo has agreed to spend £164.5m on buying Sutton and East Surrey Water Group from Aqueduct, which is owned by investors including Icon Infrastructure. The utility firm, which serves around 655,000 water customers in south east England, had attracted bid interest from CVC and Beijing Water Company. Sumitomo was advised by Nomura, [...]
Twitter power harnessesed by ex-banker February 4, 2013 FORMER Morgan Stanley investment banker Emmett Kilduff has left the firm to become a social media guru. Eagle Intel, which launches fully next month, aims to capture stock intelligence from the likes of Twitter to assist institutional investors. The Capitalist hears that fund manager Tim Steer from Artemis is one of 15 City clients already [...]
