Thursday preview: Ashtead, Atkins
15th Jun 2011 15:36
Plant hire group Ashtead raised full year profit expectations in its March trading update, prompting analysts to revise their forecasts. Numis Securities is going for £286m in earnings before interest, tax, depreciation and amortisation on revenue of £936m. Profit before tax is seen coming in at £30
Read moreWednesday tips round-up: IHG, Johnston Press, Ashtead
11th May 2011 06:44
InterContinental Hotels (IHG) was the toast of investors yesterday after it delivered a buoyant performance in the US, which accounts for about two-thirds of its profits. For the quarter just ended, IHG registered a 35% rise in operating profits to $112m. Total revenues jumped by 9% to $396m over th
Read moreFTSE 250 movers: Misys rises after 7% revenue growth
6th Apr 2011 13:24
Financial software provider Misys reported a 7% rise in year on year revenue in the third quarter ended 28 February 2011, following strong demand for its products, and said it was poised to meet medium-term targets, sending shares higher. Budget airline easyJet is flying higher after reporting that
Read moreBroker tips: M&S, Burberry, Ashstead
6th Apr 2011 12:49
Peel Hunt upgrades retailing giant Marks & Spencer (M&S) to 'hold', from 'sell', after strong fourth quarter results beat market expectations in both divisions. "We see limited downside at this juncture - clearly there is a tough consumer backdrop environment for the year ahead - however, M&S also
Read moreBroker snap: Ashstead weathers the storm
6th Apr 2011 12:07
Panmure Gordon upgrades forecasts at Ashstead Group, saying that the plant hire group has weathered the storm of the low point in the cycle much better than expected. The broker increases its profit and earnings per share forecasts for the year ending April 2012 by 14.1% and 17.9%, respectively, as
Read moreLondon close: FTSE 100 rallies to flat finish
8th Mar 2011 16:53
The FTSE 100 rallied strongly to close flat after a volatile. Traders were unsure how to react to continuing violence in Libya and indications from Opec that the cartel will lift oil production. The oil price eased, but so did metals, which dealt a blow to the mining sector, particularly precious m
Read moreFTSE 250 movers: Pace plummets
8th Mar 2011 15:53
Shares in set-top box maker Pace tumbled after hefty one-off costs cut profits growth to a minimum last year. It also said that a US customer had deferred a major order until next year when the next generation of equipment will be available. The highest riser is online betting exchange operator Bet
Read moreLondon afternoon: Miners drag down Footsie
8th Mar 2011 14:34
Mining stocks are weighing heavily on Footsie as the price of gold and copper moved lower today. Precious metal miners Randgold Resources and African Barrick are the big fallers in the sector, but even copper miner Antofagasta is under the cosh, despite announcing it is to pay a huge special divid
Read moreLondon midday: FTSE 100 still seeking direction
8th Mar 2011 12:03
Shares are still seeking direction, with the Libyan turmoil continuing to dominate the headlines. US light crude for April delivery fell $1.60 to $103.84 a barrel. Saudi Arabia and others are going to raise output to keep the global economic recovery on track. The easing in prices came after Kuwai
Read moreLondon open: Oil to dominate again
8th Mar 2011 08:47
Oil and Libya are set to dominate again after yesterday's frantic trading on oil markets. US light crude for April delivery is currently down $1.60 at $103.84 a barrel. Saudi Arabia and others are going to raise output to keep the global economic recovery on track. That has taken some of the pressu
Read moreAshtead to top year forecasts
8th Mar 2011 07:49
Plant hire group Ashtead expects to beat expectations for the full-year after narrowing third quarter losses and ramping up revenue by 15%. The loss before tax and one-off items dropped to £1.7m in the three months to 31 January, seasonally the most difficult period, from £12m a year ago. Revenue j
Read moreTuesday preview: Inchcape, Old Mutual, Ashtead ...
7th Mar 2011 17:00
For all the worries over consumer spending, car dealerships seem to do reasonably well in 2010, especially those with international networks such as Inchcape. At its interim management statement in October Inchcape lifted profits guidance for the year following a strong third quarter. Revenues in t
Read moreWednesday tips round-up: British Land, Premier Foods, Micro Focus...
16th Feb 2011 06:38
More good news from British Land, with third-quarter results that had analysts gushing. The property company showed underlying portfolio growth of 2.3% (to £9.3bn) in the third quarter, comfortably ahead of the 1.2% and the 1.4% in the first and second quarters respectively. The shares are trading
Read moreBroker tips: British Land, IHG, Ashtead
15th Feb 2011 14:55
British Land continued to enjoy its period of continued outperformance at the end of 2010 driven by both income and capital growth, according to broker Panmure Gordon. The real estate investment trust reported a third quarter (Nov - Dec) pre-tax profit of £64m, slightly below the broker's estimate
Read moreBroker snap: Rates to recover at Ashtead
15th Feb 2011 13:00
UBS lays out the bull case for equipment hire firm Ashtead Group and says that the stage is well set for a strong rental rate recovery, with fleet utilisation back towards optimum levels. The broker says that a "bull case scenario" would drive 100% upgrades to 2013 consensus, which would require r
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