SOUTHEND AIRPORT IS JEWEL IN STOBART’S CROWN May 17, 2012 THE chief executive of haulage firm The Stobart Group said yesterday its new development at London Southend Airport was “arguably the jewel in the Stobart crown”, as it reported a £1m rise in profits in the year to 29 February. Group profit before tax was £30.5m compared to £29.5m in the previous year, while turnover [...]
FDA warning hits Hikma margins May 17, 2012 Hikma Pharmaceuticals said yesterday it expects profitability in its generics business to be hurt by continuing price competition and steps it has taken to comply with a warning letter from US regulators. For the full year, the company expects to record generic drugs sales of between $130m-$135m, with sales strengthening in the second half. This [...]
Kier performing well so far in 2012 May 17, 2012 Construction, services and property group Kier said yesterday it was on track to meet its forecast for the coming year. The group said its construction division continued to be resilient and had maintained operating margins above two per cent, and that it had secured more than £400m of new work so far this year.
Shanks hails UK profit growth May 17, 2012 Waste management firm Shanks said yesterday that a strong performance in the UK had helped it deliver profit above expectations for the year to 31 March. Underlying pre-tax profit was up 10 per cent compared to last year, climbing from £35.2m to £38.8m on revenues that increased by five per cent from £717.3m to £750.1m. [...]
National Grid to hike dividend as profits surge May 17, 2012 NATIONAL Grid yesterday reported a five per cent increase in full-year profits, in line with estimates, and said it was positive on its outlook for next year. Pre-tax profits in the year to the end of March rose five per cent to £2.59bn, in line with analysts’ estimates, Britain’s biggest power supplier said. National Grid [...]
Invensys buoyed by emerging markets after China setbacks May 17, 2012 BRITISH engineer Invensys said yesterday it was seeing strong demand from emerging markets, as it sought to draw a line under £60m extra costs unearthed in Chinese nuclear power contracts in January. Chief executive Wayne Edmunds said yesterday no further cost issue had come to light, adding: “We have the (new) leadership team in place [...]
Grainger outperforms UK market May 17, 2012 Residential landlord Grainger said yesterday that its UK portfolio was outperforming the wider housing market after its valuations rose 2.8 per cent in the first half of the year. Completed UK sales rose 5.8 per cent year-on-year to £94.6m in the six months to 31 March, while net rental income increased by 16.4 per cent [...]
Moody buy boosts Intertek May 17, 2012 Intertek said yesterday that its revenues for the first quarter had been given a major boost by its acquisition of Moody International, adding to strong organic growth of 9.5 per cent. Revenues at the safety testing firm grew by 40 per cent in the three months to 30 April, during which the company spent £17m [...]
Galliford wins Devon road contract May 17, 2012 Housebuilder and construction firm Galliford Try said yesterday it had won an £80m contract to build the Kingskerswell bypass in South Devon. Work is due to begin this month and be completed by the end of 2015.
Buffett buys Media General May 17, 2012 Warren Buffett’s Berkshire Hathaway is boosting its bet on the US newspaper industry, with a deal to buy the majority of Media General’s papers for $142m (£89.7m) in cash. The deal, announced yesterday, means Buffett will have a stable of about 25 daily newspapers across the country. Berkshire will also lend Media General $400m and [...]
