Serco investors positive after trading update July 1, 2015 OUTSOURCING group Serco gave its investors an optimistic update yesterday, and said trading in the year to date has been “a little better” than expected. Shares in the company were up by 6.53 per cent at the close after it confirmed that expectations for the year as a whole remain unchanged from those set out [...]
FTSE lifted by airlines after runway verdict – London Report July 1, 2015 BRITAIN’S top equity index bounced back from five-and-a-half month lows yesterday, lifted by airline stocks that were boosted by lower oil prices and a recommendation for a new runway at London’s Heathrow airport. The blue-chip FTSE 100 index was up by 80.88 points, or 1.2 per cent, at 6,608.59 points by the close. It was [...]
Serco share price rallies as it reaffirms profit and sales forecasts for this year July 1, 2015 Shares in Serco were rallied today after the embattled outsourcing company reaffirmed its profit and sales forecasts for this financial year. Shares in Serco closed up 7.7 per cent to 125.7p per share in London this afternoon. At the open this morning they had jumped as much as 13 per cent. "Trading in the year to-date [...]
City Moves for 11 June 2015 | Who’s switching jobs June 10, 2015 JLL The property-focused professional services and investment management firm has announced three appointments to its Central London tenant representation team. Robin Pugh becomes national director. He has previously worked for JLL in Dubai and in its City leasing team. Andrew Wood (pictured) joins as associate director. He has previously held roles at CBRE and DTZ [...]
Sir Roy Gardner primed to take the hot seat at struggling Serco May 27, 2015 SERCO will appoint Sir Roy Gardner as its new chairman, replacing Alastair Lyons. Gardner has previously served as the chairman of catering giant Compass, and is currently a non-executive director at bookmaker William Hill. He was also on the board of Manchester United when it was listed on the London Stock Exchange. Sky News reported [...]
Spreadbetter Plus500 bounces higher ahead of crunch shareholder meeting May 26, 2015 Crisis-hit spreadbetter Plus500 won the backing of top shareholder Odey Asset Management yesterday, ahead of a crunch meeting of shareholders today in London. An Odey fund run by James Hanbury added another tranche of shares to its holdings, taking the company’s ownership of the firm past 19 per cent, amid a broad-based rally in [...]
Serco share price dips as investors back rights issue April 17, 2015 Some good news for Serco: the troubled outsourcer said this morning its shareholders had largely supported a rights issue, with acceptances for 520m of 549m (that's 95 per cent) of new ordinary shares offered. The one-for-one rights issue, priced at 101p per new ordinary share, closed on Thursday. This morning, shares dipped 0.2 per cent to [...]
Serco sells luxury Australian rail service Great Southern Rail to Allegro March 30, 2015 Serco, the troubled outsourcer run by Rupert Soames, has extricated itself from Great Southern Rail, it announced this morning. The company said it will sell the "luxury" long-distance rail service to Australian private equity firm Allegro for £2.5m. Earlier this month shares in the outsourcer fell as much as 16 per cent after it posted [...]
Crunch time for troubled Serco Group as vote on proposed rights issue looms March 29, 2015 Shareholders in troubled outsourcing firm Serco will vote today on a proposed rights issue, aimed at raising £550m. The company’s shares dipped by over 30 per cent in the hours following the announcement of its plans in November, which came along with a profit warning for 2014. Serco stated at the time that it would [...]
Tough at the top: Will the FTSE giants fall from grace? March 26, 2015 From dividend cuts, to the accounting scandals just waiting to happen, SVM’s Colin McLean talks to Annabelle Williams about the potential pitfalls facing the UK market. The last few years have been tough for the UK’s biggest companies, as FTSE giants from supermarkets and banks, to insurers and oil majors, have come under pressure. [...]