Liontrust sinks its teeth into market to attract more money November 14, 2012 SMALL scale asset manager Liontrust yesterday continued its march forward after it moved into the third consecutive year of customers’ giving it more money to manage. The fund manager, which is half owned by several asset managers including Schroders and Henderson, posted its ninth consecutive quarter of inflows as it announced its interim results yesterday. [...]
Great Portland raises £140m for shopping spree in the West End November 14, 2012 GREAT PORTLAND Estates yesterday announced it had raised £140.6m from a placing of shares that will help fuel another shopping spree in London’s West End. The London-focused developer, which already owns swathes of West End property, said it plans to use the proceeds to buy “unloved assets”, let on cheap rents which it can refurbish [...]
Barratt eyes higher profits November 14, 2012 BARRATT Developments yesterday said it was on track for higher profits this financial year as its focus on higher-margin sites, rather than volumes, pays off in a tough market. The UK’s largest housebuilder said market conditions had remained stable since July, but it highlighted that recent government schemes aimed at easing mortgage lending had yet [...]
MWB lines up administrator November 14, 2012 MWB, the hotel operator, is said to have lined up accountants firm Deloitte as potential administrators as it struggles to deal with a financing crisis. The owner of the Malmaison hotel chain and Hotel du Vin is locked in battle with MWB Business Exchange, its 75 per cent owned subsidiary, over the repayments of millions [...]
Matches wins £20m to fund growth November 14, 2012 MATCHES, the fashion chain, has received £20m of funding from private equity firms Scottish Equity Partners and Highland Europe to drive its online growth. The firm, which was founded in Wimbledon in 1990 by Ruth and Tom Chapman, launched online six years ago and sells over 250 luxury brands to 120 countries.
WHSmith on track despite drop in sales November 14, 2012 WHSMITH insisted yesterday that it would continue to grow profitably despite marking the start of its financial year with a three per cent drop in total sales. The high street retailer saw like-for-like sales, which strip out the effect of new store openings, fall four per cent in the 10 week period from 1 September [...]
BT buys legal tech firm Tikit in biggest acquisition for years November 14, 2012 BT yesterday announced its biggest acquisition in more than four years, agreeing to buy legal IT services firm Tikit for £64.2m in cash. The deal, made through the telecoms giant’s retail division, will allow BT to sell its own IT communications services to Tikit’s clients, which include more than 90 of the UK’s top 100 [...]
Carphone Warehouse prospects brighten as it considers buyout November 14, 2012 SHARES in Carphone Warehouse hit their highest level since January yesterday as the mobile phone retailer said it may raise dividends next year, thanks to a sunnier outlook for handset sales. The company’s chief executive Roger Taylor also said that Carphone Warehouse could buy Best Buy’s stake in the two firms’ joint venture if a [...]
US contracts drive TV box maker Pace to recovery in second half November 14, 2012 SET-TOP TV box maker Pace upgraded its sales forecast yesterday, saying it expects revenue to be flat this year, having previously predicted a decline on 2011. The company said partnerships with US TV networks had boosted sales since July, and that the company expects to make up the $181m (£114m) in lost revenue from the [...]
Centaur hit by advertising trends November 14, 2012 Business publishing group Centaur saw sales fall by more than expected when acquisitions were stripped out, the firm said yesterday, putting the slump down to “market weakness affecting advertising revenues”. Centaur, which publishes business magazines Marketing Week and The Lawyer, and runs business data and exhibitions divisions, said underlying sales fell four per cent year-on-year [...]
