Serco slides as market expects it to warn on 20pc lower profit April 29, 2014 SERCO’S shares plummeted almost 20 per cent yesterday morning and closed 15 per cent lower, after the struggling outsourcer warned a downgrade to profit forecasts and a rights issue may be on the cards. The scandal-tainted FTSE 250 company did not give further details, but analysts at Liberum and Investec forecast a 20 per cent [...]
Analyst Views: What did you make of Whitbread’s full-year results? April 29, 2014 JAMES HOLLINS | INVESTECWhitbread has provided another nail in the coffin of our bear stance with a strong set of full-year results… With the UK consumer feeling stronger than for a number of years, and the group on track for its 2016 and 2018 targets, our current “sell” recommendation looks overly bearish and goes under [...]
Stagecoach sees bus and train revenue rises down the road April 29, 2014 STAGECOACH’S bus business has been raking in fares, with like-for-like revenues up 4.8 per cent in the last 10 months. The FTSE 250 firm said turnover from commercial services should make up for a tougher time on concessionary fares, building on its growing bus operations in London. Meanwhile the firm’s rail venture is in talks [...]
City Moves for 30 April 2014 | Who’s switching jobs April 29, 2014 BNP Paribas Investment Partners David Kiddie has joined BNP Paribas Investment Partners as chief executive of its institutional business line. He has 30 years’ asset management experience, and was most recently at AMP Capital Investors in Australia, where he was chief investment officer. Kiddie has also previously held senior positions at ABN AMRO Asset Management, [...]
Serco expected to warn on 20 per cent lower profits April 29, 2014 Serco’s shares plummeted almost 20 per cent this morning and have closed over 15 per cent lower, after the struggling outsourcer warned a downgrade to profit forecasts and a possible rights issue may be on the cards. Former Aggreko boss Rupert Soames takes over as Serco’s chief executive on Thursday, but the appointment of this [...]
Is UK GDP set to pass its pre-crisis peak? April 29, 2014 Today's growth figures may have disappointed analyst expectations, but could signal that we're finally closing in on peak activity. Economic activity, measured by real GDP, collapsed in 2008. Since then, we've been waiting for the economy to return to that pre-crisis peak. The Office for National Statistics' latest GDP estimate sees the economy 0.6 per [...]
Analyst Views: What did you make of Finlayson’s resignation and the Egypt update? April 28, 2014 NEILL MORTON | INVESTEC He cites “personal reasons” yet the board seems happy to usher him through the exit while reiterating its commitment to his strategy. His focus was on project delivery and Brazil and Australia still appear to be on track. Egypt may have worsened, but this is a political situation over which he [...]
Same Difference can go one better in Sandown’s bet365 Gold Cup April 24, 2014 THE CURTAIN comes down on another jumps season at Sandown Park tomorrow afternoon and it’s as you were with AP McCoy and Paul Nicholls picking up the champion jockey and trainer awards. McCoy will take home his 19th straight championship trophy tomorrow – one of the most remarkable achievements ever in sport. Nicholls relinquished the [...]
Analyst Views: What does the future look like for Arm in the context of these results? April 23, 2014 LIBERUM | EOIN LAMBE AND JANARDAN MENONArm has reported first quarter results below our forecasts, mainly due to weaker than expected processor royalty revenues. We believe the disappointing royalty trend is mainly driven by slowing growth in smartphones and tablets and we expect these trends to continue. Sell maintained. INVESTEC | JULIAN YATESWith gross margins [...]
Haggas set to end Derby exile after Our Channel’s trial victory April 23, 2014 TRAINER William Haggas’s 18-year wait for a second bite at the Investec Derby is over after Our Channel, ridden by Ryan Moore, earned a place in the line-up with victory in yesterday’s Epsom trial. Haggas’s only previous Derby runner, Shaamit, won the 1996 race and his latest hope, owned by Abdulla Al Mansoori, held on [...]