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 [...]
DAIRY CREST GETS A BOOST DESPITE MARKET PRESSURES July 19, 2011 Dairy Crest yesterday reported an increase in sales of its five main brands in what it called “an increasingly tough trading environment”. Total sales of Dairy Crest’s five main brands, Cathedral City, Country Life butter, Clover and St Hubert Omega 3 spreads, and yoghurt drink Frijj, rose by five per cent year-on-year in the first [...]
HERMES LIFTS FORECAST AS SALES RISE July 19, 2011 LUXURY group Hermes now expects revenue growth of 12 to 14 per cent in 2011, up from a previous range of eight to 10 per cent, after what it described as a “better-than-expected performance” in the second quarter. Sales in the three months to 30 June jumped 22 per cent to €668.4m (£587m), Hermes said.
BAA mulls a fresh lawsuit in sell-off spat July 19, 2011 BAA said it is considering judicial review after the Competition Commission ruled yesterday that the airport operator must sell Stansted and Glasgow or Edinburgh airport. In its final report, the commission said that the sales process for London’s third-largest airport Stansted would start in three months’ time, and would be followed by the sale of [...]
UK’s Johnson Matthey sees higher profits July 19, 2011 JOHNSON Matthey, the world’s largest supplier of catalytic converters, said its first-half performance should be significantly ahead, after a 19 per cent rise in first-quarter profit. The British chemicals company said underlying profit before tax rose to £98m in the three months to the end of June, on the back of a 12 per cent [...]
