Charles Stanley suffers a £3.9m loss in first half November 27, 2014 BRITISH investment manager Charles Stanley has recorded a £3.9m loss in the first half ended 30 September, the firm announced yesterday. The London-based firm’s loss was substantial when compared to its £4.9m profit in the first half of last year. The listed company also saw its underlying profit before tax plummet 81 per cent on [...]
Impax Asset Management Group reports growth across the board November 27, 2014 IMPAX Asset Management Group has recorded growth across the board in its audited results for the year ended 30 September, the company announced yesterday. The London-based firm increased assets under management (AuM) by 21 per cent to £2.8bn and saw its revenues rise to £20.4m, from £18.5m last year. The British asset manager also saw [...]
Electra boosts net asset value by 15pc despite Sherborne worries November 27, 2014 UK PRIVATE equity firm Electra has seen a 15 per cent rise in its diluted net asset value per share over the year ended 30 September, the company reported in its audited results yesterday. Numis analyst Ewan Lovett-Turner said: “These are strong results, with healthy valuation gains across most of the portfolio, albeit mostly coming [...]
Pubs operator Marston’s records steady year despite profit loss November 27, 2014 BRITISH brewer and pub operator Marston’s yesterday reported a steady year of growth in its preliminary results for the year ended 4 October, despite posting a drop in profits. The Wolverhampton-based company’s underlying group revenue increased one per cent to £787.6m in the period, but its profit before tax fell 3.6 per cent to £83m. [...]
Bermondsey-based DIY brewery launches crowdfunding campaign November 26, 2014 UBREW, a Bermondsey-based brewery that allows members to brew their own craft beer, has launched a crowdfunding campaign today. Set to open in the New Year on the Bermondsey Mile, Ubrew is looking to crowdsource £75,000 – in exchange for 10 per cent equity in the company – to purchase equipment, rented accommodation and a [...]
US private equity firm KSL Capital Partner buys De Vere’s Village resorts for £485m November 26, 2014 British hotels and leisure firm De Vere Group yesterday agreed the £485m sale of its Village Urban Resorts hotels chain to US private equity firm KSL Capital Partner. KSL – a Denver-headquartered firm focused on the travel and leisure businesses – acquires the Village’s 25 existing hotels along with three new properties under development in [...]
Quindell director gives up on controversial share agreement November 26, 2014 CRISIS-hit insurance outsourcer Quindell announced yesterday that finance head Laurence Moorse had relinquished his rights under the now-infamous share transfer agreement with Equities First Holdings (EFH). Moorse, along with former Quindell chairman Rob Terry and non-executive director Steve Scott, entered into the agreement with the US alternative finance provider last month. The deal saw the [...]
Micro-fund Proxy launches in the UK to invest in tech startups November 25, 2014 PROXY Ventures, a self-funded micro-fund that invests in technology companies at a seed stage, has launched in the UK. The venture capital firm seeks to invest in startups that have an innovative idea but lack the brand capabilities to connect them to global consumers. Proxy has recently opened an office in London as it looks [...]
M&B is upbeat despite a 13pc decline in profit November 25, 2014 UK PUB and restaurant operator Mitchells & Butlers posted promising results yesterday, despite recording a 13 per cent loss in profits for the financial year ended 27 September. The Birmingham-based firm saw its pre-tax profit fall to £123m for the year, from £142m last year. It said a key drag on profits came from integrating [...]
The City Pub Company owners look to set up £100m fund to acquire 50 pubs November 25, 2014 Owners of The City Pub Company – Clive Watson, David Bruce and John Roberts – are looking to raise £100m to purchase 50 pubs in England’s major cities, it emerged yesterday. “The pubs are going to be individual free-houses in the great cities of England: Bristol, Bath, Norwich, Birmingham, Manchester and London. All un-branded and [...]
