Autonomy revenues rise 50 per cent April 21, 2010 AUTONOMY reported a sharp rise in profits and earnings yesterday bolstering investor hopes that the worst of the downturn is behind it. The software firm announced revenue of $194.2m (£126m), up 50 per cent year-on-year, and adjusted net profit of $61.7m, up 44 per cent from $40.2m the year before. The results were slightly above [...]
Bridgepoint snaps up health and social care firm Care UK for £281m in cash March 3, 2010 PRIVATE equity group Bridgepoint Capital yesterday unveiled a recommended cash bid for elderly and health care provider Care UK, valuing the company at £281m. Bridgepoint, which launched the bid through newly-created vehicle Warwick Bidco, is offering 450p for each Care UK share, a 9.2 per cent premium to the share price at the close of [...]
Sports Direct mulls a cash bid for Blacks March 2, 2010 SPORTS Direct yesterday said it is considering a takeover offer for Blacks Leisure. Mike Ashley’s group, which has brands including Slazenger and Dunlop, already owns almost 30 per cent of Blacks shares. It said it is “evaluating a possible cash offer for the entire issued and to be issued share capital of Blacks”. The company, [...]
Halfords buys car company February 18, 2010 CAR and bike accessories retailer Halfords said yesterday it was expanding into the car servicing market after buying Nationwide Autocentres for £73.2m. The company said the “Halfords Autocentre” business would be a major source of growth for the firm. In addition to Nationwide’s existing 224 sites, it is expected that Halfords will open 200 new [...]
Autonomy builds a £500m war chest for acquisitions February 10, 2010 AUTONOMY was back on the acquisition trail yesterday, raising £500m in a convertible bond issue to snap up a target in the US. Chief executive Mike Lynch said: “We’ve got our eye on a couple of potential targets, but we need to get the cash before we can start having proper conversations.” He said Autonomy [...]
Autonomy is upbeat after surge in sales February 3, 2010 BRITAIN’S biggest software firm took on the doubters yesterday, as it reported a 53 per cent jump in fourth quarter sales. Founder and chief executive Dr Mike Lynch – often dubbed Britain’s Bill Gates – said improvements in the macroeconomic environment would push sales higher in 2010. The firm said that a fall in margins [...]
Five blue chip bosses back Tory pledges February 2, 2010 THE TORIES yesterday wheeled out a series of business leaders who support their plans for the economy. Xstrata chief executive Mick Davis and Kingfisher boss Ian Cheshire were among five FTSE 100 bosses endorsing a new set of Tory policies that included a pledge to safeguard Britain’s AAA credit rating. Autonomy chief executive Mike Lynch, [...]
CITY MOVES | WHO’S SWITCHING JOBS January 17, 2010 Charles Stanley The City stockbroking firm has appointed Andrew Atkins as head of new fund sales and distribution. Atkins joins from Lloyd George Asset Management and will be in charge of distributing the firm’s entire fund range, including the new value boutique Matterley, acquired by Charles Stanley last year. In his new role, he will [...]
CITY MOVES | WHO’S SWITCHING JOBS January 7, 2010 Rathbone Brothers The fund management group has appointed Mike Webb as chief executive of its unit trust business, Rathbone Unit Trust Management. Webb has over 25 years of experience in the retail funds world and joins from Hermes Fund Managers, where he was head of business development. He has also previously held roles as chief [...]
Shareholders back Lloyds in cash call December 14, 2009 LLOYDS Banking Group has hailed its £13.5bn rights issue as a success after shareholders took up more than 95 per cent of the shares on offer. The move came after a rights issue in June last year saw 13 per cent of shares on offer ignored by investors. The latest issue was part of a [...]