Profit up at Carillion despite lost revenue August 22, 2012 SUPPORT services firm Carillion reported a modest rise in first-half profits yesterday, despite revenues falling by 12 per cent. Pre-tax profit rose by one per cent in the six months to 30 June to £73.1m, from £72.5m the year before. Revenue at Carillion, which maintains some of the UK’s railways and military bases as well [...]
Analyst Views | What do you think of BHP billiton’s annual results? August 22, 2012 JONATHAN JACKSON KILLIK & CO Although risks to global GDP growth remain, the current rating of the stock remains attractive and we therefore reiterate our positive recommendation on the stock, which provides exposure to the themes of urbanisation and industrialisation across the developing world. RICHARD KNIGHTS LIBERUM CAPITAL In the medium term we expect supportive [...]
ISS attacks Xstrata deal August 22, 2012 SHAREHOLDER advisory group ISS last night recommended investors vote against the proposed merger of commodities trader Glencore with miner Xstrata, the latest threat to an increasingly troubled deal. The influential American research organisation said it could not back the deal because it had “marginal” economic merit and because Glencore’s handling of the merger process “has raised several [...]
Heineken looks east for growth after sales miss August 22, 2012 HEINEKEN said weak sales in Europe had led to it missing profit forecasts in the first half of the year, underlying the brewer’s need to complete its deal for Tiger beer maker Asia Pacific Breweries (APB). The Dutch drinks firm – the third biggest in the world – said profit after tax fell four per [...]
London Capital’s compensation hike hurts its half-year profits August 22, 2012 ONLINE trading firm London Capital Group posted a plunge in pre-tax profits yesterday after upping the amount set aside to cover customer compensation claims by £1.9m. In February 2011, the Financial Ombudsman Service (FOS) ruled London Capital was liable for customer rebating errors on one of its foreign exchange platforms The spread betting firm yesterday [...]
Private equity-backed Parabis to expand using new Tesco Law August 22, 2012 INSURANCE specialist Parabis has become the first private equity-backed firm to take advantage of the so-called Tesco Law reforms, after winning a licence to use the Alternative Business Structure (ABS) yesterday. Parabis is the 20th company to be granted an ABS licence since the law market was liberalised last year. The company hopes to expand [...]
Mobile payments firm Monitise to raise £24m in AIM placing August 22, 2012 BRITISH mobile payments firm Monitise yesterday announced plans to raise £24m from a share issue aimed at existing investors. The company also said it is on track to become profitable by September 2013, three months earlier than expected. “We are in a unique position in this exciting industry and ensuring that we have a suitable [...]
Europe cuts down on drink but we’ll still pay for a decent pint August 22, 2012 YOU would think the state of the economy would have driven us all to drink a bit more, but Heineken argued yesterday that this was one of the factors to blame for its disappointing revenue from western Europe. Still, Heineken is shrugging off its European doldrums, citing wider economic issues. Instead it’s focusing on the [...]
EA’s Facebook gaming arm cuts staff as users switch to phones August 22, 2012 VIDEO game maker Electronic Arts (EA) announced yesterday its social gaming arm PopCap was cutting staff and looking at closing its office in Ireland, just a year after EA spent $1.3bn (£823m) on acquiring it. PopCap, which makes easy-to-play games for Facebook and mobile phones, said 50 people at its Seattle and Vancouver studios would be laid [...]
F&C private equity realises £27m August 22, 2012 F&C Private Equity Trust yesterday announced a 40 per cent year-on-year increase in realisations from its portfolio. The trust, which also confirmed a new dividend policy after cancelling its restricted voting shares, said distributions were £27m for the half year compared to £13m of total drawdowns. The trust’s principal exit was from Lifeways, a provider [...]
