BEST OF THE BROKERS April 10, 2011 PREMIER FOODS Investec rates the food maker “hold” with a target price of 35p. The broker believes Premier has made itself investable again following a balance sheet restructure, although the stock is seen as a long-term play due to short-term trading headwinds that will make it difficult for the firm to meet its cash generation [...]
ANALYST VIEWS: HOW SERIOUS IS THIS PROFIT WARNING FOR ACTELION? April 4, 2011 JAMES GOODMAN | INVESTEC Given the company’s uneven record of delivering against consensus forecasts, this deal slippage is unfortunate. It might just be a timing issue, but the market may not take it that lightly. Until we get more clarity, we place our estimates and target price under review. With no chief executive and a [...]
Ronson in petrol station bid April 3, 2011 Veteran property developer Gerald Ronson is one of a consortium of investors in exclusive talks to buy around 800 UK petrol stations from Total. The consortium includes Snax 24, the retail chain founded by Ronson, Investec and investment group Grovepoint Capital. The petrol stations comprise about 10 per cent of the market. The deal comes [...]
Business polls still point to UK recovery April 3, 2011 BUSINESS surveys continue to point to a rebound in growth for the first three months of this year, but economists are divided on the extent to which the UK economy will recover. Business surveys due out today and tomorrow, which cover March, will reveal the level of progress in the construction and services sectors, which [...]
ECONOMISTS’ VIEWS: IS THE UK ON COURSE TO BOUNCE BACK IN QUARTER ONE? April 3, 2011 SIMON WARD | HENDERSON I am encouraged by the strength of employment expectations in EU surveys for March, suggesting that firms have weathered recent events with their optimism intact. PHILIP SHAW | INVESTEC We expect to see GDP rebounding by 0.8 per cent in the first quarter of the year. That would reflect around 0.5 [...]
Euro millions offer timely reminder to Tottenham March 31, 2011 TOTTENHAM have received a huge incentive as they prepare to resume their chase for a top four finish after it emerged their Champions League participation in the first half of the season swelled their income by almost 50 per cent. Spurs, who lie fifth ahead of their trip to Wigan tomorrow, saw revenue for the [...]
Inmarsat snaps up Norwegian satellite specialist for £100m March 31, 2011 INMARSAT, the global satellite communications specialist, yesterday said it was buying Norway’s Ship Equip for $159.5m (£100m). The FTSE 100 firm said Ship Equip, which generated revenues of $56m in 2010, would allow it to expand its high-speed communications business, which provides services to the shipping, offshore oil & gas and fishing industries. Inmarsat said [...]
The boss of the UK’s largest broker sees a long road back to recovery March 28, 2011 The chief executive of the UK’s largest independent stockbroker Collins Stewart takes a deep breath and thinks for a moment. After a pause, Mark Brown, who is sitting in his large modern office with floor-to-ceiling views of the City, says: “I think we are about halfway towards getting the firm back to where it should [...]
WAGAMAMA SNAPPED UP March 24, 2011 JAPANESE noodle bar chain Wagamama was yesterday gobbled up by private equity firm Duke Street for £215m, sources told City A.M. Seller Lion Capital had owned the chain since 2005, more than doubling its UK presence. Hutton Collins and lenders GE Capital, Lloyds and Investec provided additional capital to fund the deal.
Sluggish sales hurt Imperial March 24, 2011 SHARES in cigarette firm Imperial Tobacco fell yesterday after the cigarette giant warned its revenue growth will slow. The company now expects first-half revenues to grow by two per cent a year, compared to five per cent in the last three months of 2010. The maker of Lambert & Butler, West and Gauloises cigarettes attributed [...]