Atkins eyes overseas growth as UK wavers June 14, 2012 DESIGN and engineering group WS Atkins is looking to expand further abroad to offset a slide in UK revenues. Atkins, whose projects include the Olympic Games site and widening the M25, reported a 1.1 per cent fall in full year pre-tax profits to £101.6m yesterday, excluding a gain from changes to its pension pot. UK [...]
ANALYST VIEWS | HOW WELL IS ATKINS PERFORMING? June 14, 2012 CHRIS BAMBERRY PEEL HUNT Atkins delivered a solid set of prelims, slightly ahead of our expectations. With the UK and US having stabilised…and 60pc of forecast revenue secured, we have increased confidence in our 2013 forecasts. JOE BRENT LIBERUM Full year results are slightly ahead. Net cash in line. Headcount up and work-in hand up. [...]
New Premier Farnell chief in cautious mood June 14, 2012 ELECTRONIC parts distributor Premier Farnell posted a slip in first-quarter profit yesterday as slowing sales in North America hurt progress made across Asia and in choppy European markets. Premier Farnell, which said goodbye to outgoing chief executive Harriet Green earlier this week after she left to join tour operator Thomas Cook next month, said first-quarter [...]
LONDON 2012 IMAGE OF THE WEEK June 14, 2012 BRITISH Airways has unveiled a giant image of Jessica Ennis, the heptathlete, on the Heathrow flightpath. It will welcome visitors to Britain for the next five weeks. Between now and the start of the Olympics, City A.M. is publishing its Olympic Image of the Week. If you have a shot you think our readers will [...]
Wincanton looks to strong future June 14, 2012 Haulier Wincanton said yesterday its UK and Ireland markets were performing well both in securing existing contracts and winning new business and that it expected a strong future despite challenging market conditions. April to March underlying profit fell to £28.8m from £30m a year ago. Revenue dropped nine per cent to £1.2bn.
Balfour wins £300m road contract June 14, 2012 Balfour Beatty said yesterday that a joint venture it is leading had won a £300m contract to maintain roads in the north west of the UK. The five-year deal, in partnership with consultants Mott MacDonald, was awarded by the Highways Agency and covers roads in Manchester, Cheshire, Merseyside and Lancaster.
Filtrona buys cleaning materials firm June 14, 2012 Plastics, fibre and foam supplier Filtrona has paid $43.5m (£28m) for Lymtech Scientific, a manufacturer and distributor of speciality wiping materials for the cleaning industry. The firm said yesterday the purchase was made on a debt-free basis, and funded from existing facilities. In 2011, Lymtech made profits before tax of $5.7m.
CITY MOVES | WHO’S SWITCHING JOBS June 14, 2012 iCon Infrastructure Iain Macleod has been appointed as a partner at the investment firm, effective July 2012. He joins iCon’s private institutional European infrastructure team from Deutsche Bank, where he served as head of transportation and infrastructure for Europe, Middle East and Africa, and head of mergers and acquisitions for Asia. International Standard Asset Management [...]
BEST of the BROKERS June 14, 2012 H&M Liberum rates the fashion chain “sell” with a target price of SEK170. The broker thinks H&M will struggle to leverage costs and maintain its gross margins in a tough time for European clothes retailers. But it expects like for like sales to rise 1.3 per cent at the firm’s quarterly results on Wednesday. TUI [...]
Spanish worry keeps FTSE low June 14, 2012 BRITISH blue chips dipped yesterday, edging down towards recent six-month lows as a surge in Spanish bond yields to record highs cast the spotlight back onto the problems in top trading partner the Eurozone. Uncertainty ahead of Greek elections at the weekend – which may decide whether the country stays in the currency or opts [...]
