Catlin survives catastrophes to boost its profit August 6, 2012 INSURER Catlin announced strong profits for the first half of 2012 yesterday, mainly thanks to the absence of any natural catastrophe claims during the period. Pre-tax profits at the group hit $231m (£148m) for the six months to 30 June, against a loss of $201m for the same period last year. This beat analysts’s expectations, [...]
Every little helps as Tesco tie-up pushes up earnings at Ageas UK August 6, 2012 AGEAS UK, the British arm of the Belgian insurer, yesterday announced a strong set of results boosted by earnings growth at its joint venture with Tesco. Pre-tax profits for the first half of 2012 hit £64.1m, an increase of 81 per cent on the same period last year while the total combined ratio – a [...]
EasyJet boosts traffic and passenger load August 6, 2012 BUDGET airline easyJet said yesterday that it carried 5.86m passengers in July, an increase of eight per cent on the same month last year. The firm also saw a lift in load factor – the proportion of passengers to available seats – to 92.5 per cent, an increase of 0.8 percentage points on the previous [...]
The budget airline that is taking off in poor economic conditions August 6, 2012 ANOTHER month, another sterling set of passenger figures from easyJet. Far from wilting in the heat of the Eurozone’s latest financial turmoil, the carrier has shone, with an almost unbroken spell of traffic growth this year. What’s more, a tight rein on costs has prevented the sort of runaway expenses seen at some of its [...]
ANALYST VIEWS | CAN CATLIN CONTINUE TO GROW AT THE EXPENSE OF ITS SMALLER RIVALS? August 6, 2012 MARCUS BARNARD ORIEL SECURITIES An impressive set of results. Catlin offers exposure to the sector at a low valuation, strong top-line growth and improving credibility with investors, all of which point to further stock outperformance. JOY FERNEYHOUGH ESPÍRITO SANTO Catlin’s commentary on the rating environment appears slightly more bullish than peers. If they can convince [...]
Samsung is on top for mobile sales in Europe August 6, 2012 SAMSUNG has become the dominant player in Europe’s mobile phone market, grabbing almost half of sales in the last three months, according to data from market research firm Kantar Worldpanel ComTech. The Korean firm’s sales have been buoyed by the release of its flagship Galaxy S3 handset and the increasing popularity of Google’s Android software, [...]
Telecity bets on Russian growth as shares jump to record value August 6, 2012 DATA services firm Telecity beat expectations yesterday and announced an investment in Finland, a stepping stone to the growing Russian internet market. The company, which provides carrier-neutral internet connections, said revenues in the first half of the year jumped 22.4 per cent due to a rise in data-intensive cloud computing systems. Shares leapt by seven [...]
Richemont predicts profit jump August 6, 2012 Luxury goods maker Richemont said yesterday strong sales growth would boost its half-year profit by up to 40 per cent, helped by demand from emerging markets and sales to Asian shoppers visiting Europe. The Swiss-listed maker of IWC watches and Cartier jewellery said operating and net profit were likely to increase by between 20 and [...]
BAE wins South Korea jet deal August 6, 2012 BAE Systems said yesterday its US unit had won a contract to upgrade South Korea’s fleet of more than 130 F16 fighter jets. BAE said the exact value of the project was still being negotiated but that it is expected to be worth in excess of $1bn, the lion’s share of which will go to [...]
Coe hails poetic justice dealt by Dutch judo star August 6, 2012 PERHAPS he’s been taking tips from GB’s medal-winning gymnasts, because London 2012 chairman Lord Coe pulled off a delicate balancing act yesterday when asked about the bottle thrown onto the track before the men’s 100m final on Sunday. The alleged perpetrator received instant and painful retribution when the delightfully onomatopoeic Edith Bosch, Holland’s leading female [...]
