Arden Partners sees better trading May 16, 2012 Stockbroker Arden Partners said yesterday that trading in the first half had been better than anticipated, and that its revenues and profit were ahead of budgets. Since the end of last year Arden has added 34 brokerships, taking the average market cap of its clients to £195m.
Venture capital deal flow falls May 16, 2012 Venture capital deals saw a brief resurgence in 2011 compared to the previous year, according to data from Preqin, but have slowed since the start of 2012. The data provider said the aggregate value of venture capital deals increased by 42 per cent between 2010 and 2011, from $33.7bn to $48bn, but had dropped back [...]
Boisdale celebrates a decade May 16, 2012 IT was a case of glasses of Boisdale claret all round the other evening as the clubbable Scottish restaurant celebrated 10 years at Bishopsgate by throwing a party for its members and regulars. Guest of honour was former chancellor Lord Lamont, who shared his recollections of life at 11 Downing Street. Lamont was introduced to [...]
Dig for victory with StanChart May 16, 2012 While the government flounders around in search of any “green shoots” of a recovery, some in the City were getting down to business in a more practical manner. Standard Chartered’s head of Europe, the Middle East and Africa Richard Holmes yesterday led a gaggle of bankers over to Roehampton for a volunteering day, one of [...]
Land Securities hit by weaker office demand May 16, 2012 LAND SECURITIES, the UK’s biggest real estate investment trust, said turmoil in the Eurozone was continuing to dampen demand for office space in central London as it reported a fall in full-year profits. Rob Noel, who replaced Francis Salway as chief executive at the beginning of May, said uncertainty in Europe had “weighed heavily on [...]
Greggs proposes alternative to pasty tax as rain dampens sales May 16, 2012 GREGGS stepped up its attack on the government’s proposals to add VAT to all hot takeaway food, warning they would make a “material impact” on sales and profits at the chain, sending shares falling four per cent yesterday. Chief executive Sam McMeikan said a change in the VAT levy would have a “disproportionate impact on [...]
Strong US trading lifts Compass Group to first half rise in profits May 16, 2012 COMPASS Group, the world’s biggest caterer, posted a 7.7 per cent rise in first half profit yesterday, as strong trading in North America and emerging markets helped dampen the impact of challenging economic conditions in Europe. The group, which provides meals for the likes of office workers, soldiers and school children, said underlying pre-tax profit [...]
Berkeley Group pays £150m for Murdoch’s Fortress Wapping May 16, 2012 THE FORMER headquarters of News International, based in East London, has been snapped up by Berkeley Group. A source close to the deal told City A.M. that the Wapping site was sold for around £150m. Fortress Wapping, so called when Rupert Murdoch defeated unions and moved away from Fleet Street, was bought by Murdoch in [...]
Housebuilder Bovis expects better margins May 16, 2012 BOVIS Homes said yesterday it expects strong profit growth this year helped by higher average sales prices and improved profit margins, and sees conditions in the UK house building market remaining stable. The company reported 783 private net reservations in the 19 weeks to 11 May, a 33 per cent increase over last year, with [...]
US corporate results round-up May 16, 2012 Deere & Co ups oulook DEERE & Co posted higher quarterly earnings and sales that topped estimates, and raised its full-year profit outlook yesterday on rising global demand for farm equipment. The US farm sector is booming on higher worldwide food demand and as biofuels help drive up crop production. Companies like Deere are benefiting [...]
