Chargemaster pulls flotation August 28, 2013 ELECTRIC car charging company Chargemaster has pulled its £6m float, its chief executive said yesterday. David Martell, who previously floated GPS software firm Trafficmaster, told City A.M.: “There was support out there but we didn’t feel the timing was right. We’re definitely open to it in future.” The company, which has an investment from car [...]
APR surges on new contracts August 28, 2013 TEMPORARY power provider APR Energy’s shares surged over six per cent yesterday morning, after a 72 per cent increase in new contracts signed in the first half of the year offset a decline in revenue. Revenue fell from $155m (£100m) in the first half of 2012 to $87.2m this year, reflecting the end of a [...]
Moshen hires insolvency firm August 28, 2013 CHRIS Akers’ investment group Concha yesterday said its investee company, app developer Moshen, has hired insolvency practitioners to find out what value, if any, remains in the firm. Concha, which on Tuesday revealed financial irregularities at Moshen, also said it was consulting with lawyers about recovering some of the £867,000 it has poured into the [...]
Defence cuts hit Chemring results August 28, 2013 FTSE 250-listed defence equipment maker Chemring yesterday posted a £22m decline in revenues for the three months to the end of July, which it said was anticipated. “Revenue levels reflect the ongoing deterioration in defence spending within our NATO markets and delays in order placement by customers in each of our geographic markets,” the firm [...]
Kenmare profits fall 85 per cent August 28, 2013 Miner Kenmare Resources’ shares tumbled over nine per cent yesterday after the firm revealed an 85 per cent fall in half-year operating profit and net losses of $10.2m (£6.6m), down from net profit of $38.8m last year. The FTSE 250-listed firm attributed the decline to lower average prices. “Management’s focus is now on controlling operating [...]
Meggitt buys US tech group August 28, 2013 Aerospace, defence and energy group Meggitt said yesterday it plans to acquire technology firm Piezotech for $41.2m (£26.5m) on a cash and debt-free basis. Meggitt plans to add the firm, which specialises in ultrasonic technology and has experience in downhole drilling, to its sensing systems division. The group will keep the existing management team at [...]
City Moves for 29 August 2013 | Who’s switching jobs August 28, 2013 Coutts The wealth division of RBS has appointed Donna Burns as managing director and head of human resources. She joins from The Renaissance Group, where she was most recently managing director and global head of human resources. Burns has also held roles at Goldman Sachs. Barclays Corporate & Employer Solutions The division of Barclays Bank [...]
Best of the brokers for 29 August 2013 August 28, 2013 BUNZL Numis keeps its “buy” rating and target price of 1,505p following interim figures at the support services group that were slightly ahead of expectations. The broker expects Bunzl to generate organic growth of between two and four per cent, or eight per cent including acquisitions. AFRICAN BARRICK GOLD Davy maintains its “outperform” rating on the [...]
London Report: Syria weighs on FTSE amid oil trade scramble August 28, 2013 THE UK’S top share index fell yesterday, pressured by the risks of possible Western military action against Syria, but with energy stocks supporting the market after an oil price spike. The FTSE 100 was down 10.91 points, or 0.2 per cent, at 6,430.06 points at the close as the United States and its allies appeared [...]
New York Report: Rise in energy shares drives Wall St higher August 28, 2013 WALL Street rose yesterday as energy shares rallied on higher oil prices as the United States and its allies edged closer to military action against Syria. Trading volume was thin and came after a drop in the S&P 500 index on Tuesday to its lowest in two months. Yesterday stocks recouped some of the losses [...]
