Taylor Wimpey begins £250m bond offering November 22, 2010 HOUSEBUILDER Taylor Wimpey rounded off its refinancing plan yesterday by announcing a new £100m debt facility and plans to sell £250m of five-year bonds. The news follows on from the firm’s £950m credit facility, which was announced last week as the last act by outgoing chief financial officer Chris Rickard. Prudential’s M&G UK Companies Financing [...]
Figures sweeter for Tate & Lyle November 4, 2010 Tate & Lyle yesterday beat forecasts with a 21 per cent rise in half-year profit and said it was confident for the full-year. The sweeteners firm posted adjusted pre-tax profit of £136m for the six months to the end of September. Chief executive Javed Ahmed said: “In addition to good operational performance and steady demand [...]
NAB sees UK profits double October 27, 2010 THE owner of Clydesdale and Yorkshire Banks announced a rise in full year pre-tax profits of over 50 per cent yesterday after it advanced £4.7bn in mortgages and wrote down fewer bad debts. National Australia Bank (NAB) said lending had been subdued in the year to 30 September but that it was “firmly on track” [...]
BEST OF THE BROKERS October 3, 2010 LEGAL & GENERAL Legal & General has confronted the UK life industry’s strategic challenges, transforming both its product range and cash flow, according to UBS. The broker maintains a “buy” recommendation and says that the fruits of this are now evident and the company has answered the existential questions that still vex some peers. TATE [...]
Tate & Lyle is sweet on 2010 September 30, 2010 SWEETENER and starches maker Tate & Lyle said it expects annual profit to rise, after building on an encouraging start to the year over the summer. Chief executive Javed Ahmed said he expects “progress” in full-year pre-tax and operating profits, driven by growth in the speciality sweeteners and starches business including its sucralose sweetener Splenda. [...]
Tate & Lyle in upbeat trading September 30, 2010 Sweetener and starches maker Tate & Lyle said its encouraging start to the year continued into its second quarter giving it confidence it will make progress in its full financial year. The London-based group progress said growth in its speciality sweeteners and starches remained steady, volume growth for its sucralose sweetener Splenda was robust, while [...]
Tate & Lyle loses its taste for historic sugar-based products July 1, 2010 Tate & Lyle yesterday confirmed plans to sell its European sugar operations to American Sugar Refining for £211m, breaking a 150-year link to sugar in favour of low-calorie sweeteners offering faster growth. The privately-owned US group is buying Tate’s sugar and Golden Syrup business with a perpetual licence to use the Tate & Lyle name, [...]
Tate & Lyle is poised for sale to a US firm June 30, 2010 BRITISH company Tate & Lyle is expected to sell its historic sugars business to US rival American Sugar Refining for around £200m. The deal, which is due to be announced officially today, is likely to cause anger over the loss of yet another UK business – coming, as it does, after the sale of Cadbury [...]
Trio of efficiency experts drafted in to mobilise review of spending June 15, 2010 THE government has appointed cost-cutting stalwarts Sir Peter Gershon, Dr Martin Read and Lucy Neville-Rolfe to advise on tackling waste in public services, the Cabinet Office announced yesterday. The trio will form part of the Efficiency and Reform Group which is charged with finding savings in procurement, property and workforce costs. All three have advised [...]
BEST OF THE BROKERS June 6, 2010 TATE & LYLE Evolution Securities maintains a “buy” recommendation for Tate & Lyle and has upped its target price to 560p. Evo said Tate is a compelling long term turnaround story and that new boss Javed Ahmed appears to have all the credentials to tackle Tate’s issues. Evo said the added spice is that Tate [...]