UBM profits rise on strong growth October 18, 2012 Media and marketing services company UBM said adjusted operating profit rose 11 per cent so far this year on strong growth in its events business, and reiterated its forecast for the full year. UBM, which organises exhibitions, trade shows and conferences, said adjusted operating profit for the nine months ended 30 September rose to £141.7m [...]
First baby steps towards growth for Mothercare October 18, 2012 MOTHERCARE yesterday said its embattled UK business was showing some signs of recovery as it managed to stem the decline in like-for-like sales in the first half. Chief executive Simon Calver, who was parachuted into the company earlier this year, launched a three year turnaround plan in May pledging to be “ruthless” on costs and [...]
Britvic confident despite costly Fruit Shoot recall hitting results October 18, 2012 SOFT drinks group Britvic, maker of the J2O and Tango brands, yesterday blamed a recall of its Robinsons Fruit Shoot drinks earlier this summer for hitting its full-year revenue. Withdrawing the bottles, due to faulty non-spill caps, cost the company £25m, and dented revenue growth by an estimated two per cent. Group revenue for the [...]
Booker posts profit jump and awaits clearance on Makro deal October 18, 2012 SHARES in Booker rose more than six per cent yesterday after the food wholesaler shrugged off the poor summer weather and reported better-than-expected profits. The group,which runs over 170 branches supplying caterers, convenience stores, grocers, restaurants and pubs, said pre-tax profit rose to £51m in the 24 weeks to 14 September, up from £45m a [...]
Center Parcs Group pays £260m dividend October 18, 2012 CENTER Parcs UK Group, the Blackstone owned holding company of the UK holiday park chain, yesterday reported a 102p interim dividend per share totalling £260.8m for the year ending 26 April 2012 . The holding company showed a £197.5m pre tax profit.
Mystery City rider revealed October 18, 2012 BROKERS at Finncap had a rather amusing surprise earlier this week when the picture below first surfaced, and a highly photogenic member of their corporate team was unexpectedly thrown into the public eye. The City brokers, preparing to float an electric scooter business next month, had hosted a launch party for said scooter firm a [...]
A sunny day at Sunningdale October 18, 2012 WITH the sun shining so marvellously on Wednesday, what better day could have arisen to bunk off work, in order to dodge some bunkers, on the green fairways of Sunningdale golf club in Berkshire. City and celebrity players alike turned out in their plus fours for the 15th Tullow Oil charity golf day. Besides the [...]
Go-Ahead’s bus plan impresses as revenues rise October 18, 2012 SHARES in transport group Go-Ahead leapt 5.8 per cent yesterday as it reported strong trading and ambitious growth plans for its UK bus business. The firm told investors that it aims to organically grow operating profits in buses to £100m over the next three years, up from the £70m it generated this year. Go-Ahead also [...]
FSA issues £600,000 fine to Sun Life Financial of Canada October 18, 2012 A BRITISH life insurer has been fined £600,000 after admitting to governance failings that could have potentially affected 114,000 policies and £1.2bn of assets. The UK division of Sun Life Financial of Canada, part of the global Sun Life Financial group, admitted that it made mistakes relating to its with-profits pension funds in 2008 and 2009. During that [...]
Jardine Lloyd Thompson sees reinsurance profits slowdown October 18, 2012 INSURANCE broker Jardine Lloyd Thompson (JLT) yesterday said that profits from its reinsurance business are set to fall this year. Despite delivering good revenue growth the unit has encountered difficulties, as large insurers become more reluctant to pass on risk. “This, together with our continued investment in the business, means that we now expect trading profit [...]
