Card Factory to deliver £700m float in London April 22, 2014 CARD Factory boss Richard Hayes said yesterday that it hopes to emulate the success of other value retailers such as Poundland after announcing plans for float that could value the group at around £700m. The budget greetings chain, which has 700 stores, intends to raise £90m through an initial public offering that will allow its [...]
Gosden can land third Investec Derby Trial in eight years with Marzocco April 22, 2014 BILL ESDAILE PREVIEWS THE ACTION ON INVESTEC DERBY TRIAL DAY AT EPSOM THE INVESTEC Epsom Derby dates back to 1780 and is the most prestigious race for three-year-old colts in the world. It’s also the richest race in the British calendar with a prize fund of £1.325m and the showpiece on Saturday 7 June is [...]
Analyst Views: What did you make of BHP Billiton’s operational review? April 16, 2014 RICHARD KNIGHTS | LIBERUM They’ve upgraded their iron ore and coal production targets, which is a slight positive. BHP is doing what most companies are doing in the face of low prices – increasing output to reduce unit costs. I expect the firm will announce an iron ore expansion programme at the end of the year. [...]
Best of the Brokers for 17 April 2014 April 16, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com EASYJET Investec sticks to its “buy” rating on the budget airline and has a target of 1,800p ahead of first-half results on 13 May. The broker reckons EasyJet has more scope to expand its market and increase ancillary revenues with allocated seating, and [...]
Analyst Views: What did you make of Rio Tinto’s production update? April 15, 2014 JAWAHAR HINGORANI | S&P CAPITAL IQWe expect the improving trend in cash flows and gearing seen at the end of 2013 to continue until 2015 despite concerns over global iron ore demand. Share price upside will likely be capped by uncertainty over price and volume growth until 2015, from weak forecast steel production in China. [...]
Online retailing boosts delivery stats at UK Mail April 9, 2014 DELIVERY group UK Mail reported a solid end to the financial year yesterday, with revenues for the last three months up six per cent. Parcel volumes rose by 15 per cent, which the London-listed firm said reflected the rapid growth of home deliveries for online purchases. The company, which competes with Royal Mail and TNT [...]
Hole in one for City A.M. reader April 8, 2014 PLAYING golf is pretty fun. But playing golf with one of your sportstar heros is even better – as one lucky City A.M. reader found out last week. Sion Davies won a round of golf at Woburn Golf Club with Welsh rugby international Jamie Roberts – an ambassador for Voyage by Investec – having entered [...]
Ferrexpo ramps up production in face of continued Ukraine unrest April 8, 2014 THE POLITICAL crisis in Ukraine took the gloss off miner Ferrexpo’s strong first-quarter production results yesterday. The FTSE 250 iron ore producer, which operates in the beleaguered country, posted a 9.2 per cent rise in production year-on-year to 2.71m tonnes. The company said last month that the ongoing political conflict with Russia over territory in [...]
City Moves for 09 April 2014 | Who’s switching jobs April 8, 2014 InvestecInvestec Specialist Bank has expanded its growth and acquisition finance team with the appointment of Helen Lucas. She joins from Barclays, where she was a vice president in its debt finance origination team. Knight Frank Investment ManagementThe investment management business has made two appointments. Belinda Harris joins as an investment manager from Capita, where she [...]
Analyst Views: How is Robert Walters faring so far this year? April 7, 2014 ANDREW GIBB | INVESTECIt is encouraging to see constant currency growth across all the group’s regions. There would appear to be good momentum behind the group and whilst we make no changes to estimates at this early stage of the year, we continue to believe there is upside risk to forecasts. DAVID O’BRIEN | SHORE [...]