Sepura buys Vienna-based 3T for £6.4m May 16, 2012 SEPURA, a company involved in the design, development and supply of digital radios, yesterday announced the acquisition of Vienna-based 3T Communications. The deal will cost Sepura initial cash consideration of €8m (£6.4m) with further contingent consideration of up to €5m payable dependent on 3T achieving certain targets over an earn-out period. 3T designs and implements [...]
Lamprell shares plunge after it warns over looming losses May 16, 2012 OIL rig maker Lamprell yesterday saw its stock plummet after it warned that it was heading for a first half loss triggered by delays in obtaining key equipment. The bleak outlook sent investors running for cover with shares diving by more than 60 per cent after the emergency announcement. The blow came two weeks after [...]
Babcock sees profits boost from austerity May 15, 2012 DEFENCE services group Babcock International expects a profit boost from austerity measures, as governments farm out more work to the private sector to cut costs. “The current economic climate is favourable to the further growth of our business,” chief executive Peter Rogers said yesterday, adding that 2012-13 earnings should be ahead of Babcock’s previous expectations. [...]
O’Brien considers Camelot in fine fettle for his joust on the Downs May 14, 2012 SINCE saddling High Chaparral to win the 2002 Derby, Aidan O’Brien has had 39 unsuccessful attempts at landing flat racing’s biggest prize and has got used to leaving Epsom somewhat humbled in recent years. However, the master of Ballydoyle has, in the shape of recent 2000 Guineas winner Camelot, a horse talented enough to end [...]
BEST of the BROKERS May 14, 2012 LOGICA Deutsche Bank has upgraded the business and technology service company from “hold” to “buy” with an target price of 100p after stable first quarter growth and guidance that full year revenue is on track. PEARSON JP Morgan Cazenove has kept its “overweight” rating on the publisher and upped its target price from 1,440p to [...]
Rank to be UK’s top casino firm after Gala deal May 13, 2012 RANK Group has agreed to buy a string of casinos from rival firm Gala Coral just six weeks after walking away from initial negotiations. The £205m cash deal will mean Rank becomes Great Britain’s largest casino operator, with its 35-strong Grosvenor brand enhanced by an additional 23 venues from Gala. The discussions were publicised in [...]
FTSE lurches higher after a volatile day of bank and commodity swings May 10, 2012 A BOUNCE back by risk-sensitive banks and commodity stocks hauled Britain’s stock index higher yesterday after a roller-coaster session, with worries over the global growth outlook easing following benign US jobless claims. At the close, the FTSE 100 index was up 13.90 points, or 0.3 per cent at 5,543.95, holding above key technical support at [...]
Balding’s Bonfire can light up Chester in the Dee Stakes May 10, 2012 THE wet weather continues to cause havoc with the racing calendar and the atrocious ground all over the country makes betting pretty unattractive at present. There are so many non-runners at the meetings that do survive meaning constant rule fours and changing each-way terms. That said, Andrew Balding’s BONFIRE looks a rock-solid proposition in the [...]
CITY MOVES WHO’S SWITCHING JOBS May 9, 2012 Assura Group The primary healthcare group has announced that Jenefer Greenwood has been appointed non-executive director with immediate effect. Greenwood is currently director of sales and lettings for Grosvenor Britain and Ireland and is also member of the board for the Crown Estate, where she chairs its remuneration committee. She will replace Claire Hollingsworth as [...]
BEST of the BROKERS May 8, 2012 BALFOUR BEATTY Investec rates the construction firm “sell” but has raised its target price from 185p to 210p. While trading remains weak, and the broker expects earnings “significantly below” last year’s results, Investec has revised its cash and pension deficit forecasts, giving the shares a higher fair value. AIR FRANCE-KLM UBS rates the airline “neutral” [...]