Riverbed snaps up British cloud computing firm July 19, 2011 NETWORK equipment maker Riverbed Technology last night announced the purchase of privately-owned UK software group Zeus for $110m (£68m) in cash plus up to $30m in performance-linked payments. Zeus, based in Cambridge, makes programmes to manage traffic on cloud computing systems. The deal is expected to be break-even for Riverbed earnings in 2011 and earnings-accretive [...]
Johnson & Johnson cheers turnaround in its prescription medication business July 19, 2011 DRUGS firm Johnson & Johnson reported better than expected earnings yesterday due to an upswing for its prescription medicines. Stabilising sales of over-the-counter medicines also aided the results, after several years of recalls due to quality control lapses. Results were also greatly helped by the weaker dollar, which boosts the value of sales in overseas [...]
Coca-Cola surprises on emerging market sales July 19, 2011 US DRINKS giant Coca-Cola yesterday reported a slowdown in sales in North America, but still posted better-than-expected earnings on strength in emerging markets such as China and Russia. Coke reported net income of $2.8bn (£1.12bn), or $1.20 per share for the quarter to 1 July up from $2.37bn a year earlier. Excluding one-time items, earnings [...]
ANALYST VIEWS: IS PERFORMANCE AT LAND SECURITIES ON TRACK? July 19, 2011 BART GYSENS | MORGAN STANLEY The group made good progress on developments with a variety of initiatives…The group’s loan-to-value ratio has fallen further from 39 per cent as at March to 37.5 per cent as at June 2011. Admittedly, Land Secs is taking increasingly more development risk rather than financial risk. DANIEL HORWOOD | LIBERUM [...]
RICE KING’S SHARWOODS BID GOES OFF THE BOIL July 19, 2011 THE RETAIL industry has been on tenterhooks over the last month to see whether rice tycoon Moni Varma, the chairman of Veetee Food Group, would succeed in expanding his processed foods empire by buying Sharwoods from Premier Foods. However, The Capitalist can reveal that Varma’s audacious bid for the sauces manufacturer is no longer likely [...]
Appy trading for IG Group as profits rise July 19, 2011 SPREADBETTER IG Group yesterday said volatile markets across Europe and the success of new smartphone apps helped it post record profits for the past year. Pre-tax profits at the group rose 3.4 per cent to £163m in the year to the end of June, after adjustment for items such as the closure of its sport [...]
Henderson fee income cheers despite more fund outflows July 19, 2011 FUND manager Henderson yesterday said it had doubled its fee income in the past six months compared with the first half of 2010, but could not stem outflows as investors moved money out of its funds. Performance fees jumped 120 per cent and transaction fees were up 45 per cent compared with 2010, pushing Henderson’s [...]
Greene King beats Fullers to seal deal for Capital Pub Co July 19, 2011 GREENE King is to buy the Capital Pub Company, beating rival Fuller, Smith and Turner to take over the business. The Capital Pub Company, which has 34 pubs, has accepted the £70m cash offer which trumped Fullers’ £54m takeover approach last month. The chain, which specialises in revamping pubs in affluent London areas, rejected Fullers’ [...]
Evolution targets BNP Paribas private client arm for takeover July 19, 2011 INVESTMENT management group Evolution is in advanced discussions to buy part of the wealth management arm of French investment bank BNP Paribas, it said yesterday, sending Evo’s shares up more than eight per cent. Evolution’s Williams de Broë wealth management division, which invests on behalf of private clients, is looking to acquire BNP Paribas Private [...]
Aldi and Lidl grow their market share July 19, 2011 DISCOUNT supermarkets have grown their market shares as cash-strapped customers seek out bargains. Aldi and Lidl saw strong market share growth in the 12 weeks to 10 July, according to figures from the Kantar Worldpanel. Aldi achieved a 20.2 per cent rise in UK market share to 3.5 per cent. Lidl’s share rose 15.6 per [...]
