Focus on: small businesses under the microscope August 7, 2011 WHEN T-Mobile called and asked if we wanted to sit in on one of their small business focus groups, we couldn’t say no. This year has been huge for entrepreneurs. The Prime Minister David Cameron passed them the gauntlet, asking them to revive our economy. So important he felt this responsibility, he dedicated his keynote [...]
ANALYST VIEWS: ARE THE RESULTS AS BAD AS THEY SEEM? August 4, 2011 MORTEN SINGLETON | INVESTEC First half numbers are fine, but MSS outlook has been revised down for 2011 and five-year guidance is under review due to continued acceleration in the upgrade dilution effect. This is offset by a slight hike in the dividend and a new $250m share buyback. We recommend buying into any weakness. [...]
Investec bids for Evolution August 4, 2011 SOUTH African asset management group Investec confirmed it was the mystery bidder for City broker and wealth manager Evolution Group yesterday. Evolution sparked a flurry of speculation on Wednesday when it said it had received an early stage takeover approach, with banks such as Societe Generale and Royal Bank of Canada named as potential acquirers. [...]
RSA praised for its results August 4, 2011 ROYAL & Sun Alliance chief executive Andy Haste stood down on a high yesterday after the home and car insurer posted profits ahead of all market expectations. RSA made £467m operating profit in the first half of the year, up 22 per cent on the same period in 2010 and well over the highest analyst [...]
Investec confirms bid for Evolution August 4, 2011 South African investment bank and asset manager Investec said it was the bidder for Evolution Group a day after the British investment bank and broker said it had received a bid approach from an unnamed suitor. Investec, which is also listed in London, said it had made a preliminary approach regarding “a potential share offer” [...]
HOW DO YOU RATE STANCHART’S LATEST RESULTS? August 3, 2011 GARETH HUNT | INVESTEC While the first half has come in ahead of expectations, we do not expect full year consensus to move… While the headline cost performance was strong, it was flattered by one-offs, particularly in the “other Asia Pacific” reporting segment, which benefited from $86m of cost recoveries… As ever with Standard Chartered, [...]
Taking Aim to pass on your wealth August 3, 2011 WRONGLY written off as too risky by many, investing in a managed Alternative Investment Market (Aim) portfolio can be a powerful weapon in the arsenal of avoiding paying more inheritance tax (IHT) than you need. APATHETIC ADULTS Investec has exclusively released the details of a new study to City A.M. that reveals just one in [...]
BEST OF THE BROKERS August 2, 2011 MACINTOSH RETAIL ING rates the Dutch retails group as a “buy” but cuts its 12-month target price from €25 to €22, after slashing its earnings per share by 25 per cent for 2011, and decreasing them fractionally for 2012. The company’s first-half update last week was dominated by weakness in BelCompany and start-up costs for Steve [...]
HSBC will cut 10,000 jobs July 31, 2011 HSBC is expected to announce a stagnation in group profits this morning and a massive round of lay-offs that could see 10,000 jobs cuts globally. Analysts expect the bank’s full-year pre-tax profits to be around $11bn (£6.7bn), versus $10.9bn last year. Investec predicts a 14 per cent drop in net profit from $4.4bn in the [...]
ANALYST VIEWS: ARE BT’S PROFITS ENOUGH TO OFFSET ITS FALLING TOP LINE ? July 28, 2011 MORTEN SINGLETON | INVESTEC The cost-cutting story continues to demonstrate further mileage. Total operating costs before specific items down six per cent year on year, highlighting the success of the continued cost efficiency drive. ROBIN BIENENSTOCK | BERNSTEIN BT’s top line declines continue to highlight the weaknesses facing the company, while cost cutting to maintain [...]