Compass acquires school meals group
2nd Sep 2011 07:56
Catering giant Compass has been on the acquisition trail again, this time gobbling up a new company in its home market rather than the more exotic countries it has been expanding in lately. It has acquired Cygnet Foods, a provider of lunches to more than 450 schools in England. In 2010, Cygnet had
Read moreThursday tips round-up: Rightmove, Legal &General, Taylor Wimpey
4th Aug 2011 06:49
The phenomenon that is Rightmove chalked up another rock-solid performance in the six months to June. The online property advertising platform seems unstoppable. The shares are a strong hold, even on a gloomy view of the economy and the housing market. Investors of a more sunny disposition should bu
Read moreCompass makes another Turkish acquisition
3rd Aug 2011 10:09
Catering giant Compass has increased its presence in Turkey, gobbling up Obasan, a company that delivers meals to office workers Only last month, Compass completed its acquisition of its Istanbul-based food and support services joint venture Sofra. It said today that Obasan generated revenues of
Read moreBroker tips: Lloyds, Shire, Compass
29th Jul 2011 11:35
RBS has downgraded UK lending giant Lloyds Banking Group from buy to hold, saying that there appears to be a lack of catalysts for the shares in the near-term. "Given what looks to us like an overambitious top-line strategy, a tough economic backdrop, regulatory uncertainty and limited repatriatio
Read moreBroker snap: Cash returns likely at Compass, UBS raises target
29th Jul 2011 10:14
UBS has reiterated its buy rating and raised its target price for catering giant Compass, saying that the investment case has now shifted to cash returns and cashflow growth. The broker now believes that share repurchases from next year are likely, given that management want to avoid a "lazy balanc
Read moreLondon close: Late rally lifts stocks
28th Jul 2011 16:41
Stocks finished in positive territory after a choppy day, with US economic data helping to spark a late rally. Weekly Initial jobless claims in the world's biggest economy fell below 400,000 for the first time since April and homes sales data also came in ahead of expectations. The rush of company
Read moreLondon midday: Stocks fall back after news flurry
28th Jul 2011 12:00
Stocks are in the red after this morning's splurge of company updates. Anglo-Dutch integrated oil company Royal Dutch Shell fell after it reported net income on a current cost of supplies (CCS) basis, excluding specific items, of $6.6bn, compared to $4.2bn in the second quarter of last year. The fi
Read moreLondon open: Footsie opens lower after flurry of results
28th Jul 2011 08:34
After a flurry of company results this morning, the Footsie fell into the red. While investors digest the figures, in the back of their minds they are still fretting about the US debt ceiling negotiations, with the Republicans and Democrats set for a show-down later on today in the House of Represen
Read moreFTSE 100 Movers: BAE flies high after dividend boost
28th Jul 2011 08:23
Shares in BAE Systems were wanted after the firm boosted its interim dividend and announced a £500m share repurchase program. For the six months ended 30 June, the defence group reported a 13% drop in sales, saying that the fall was in line with expectations. Headline revenue was £9.2bn, compared
Read moreCompass's profit hit by Japan, sales strong
28th Jul 2011 08:04
Catering giant Compass has maintained its expectations for the full year after "another good performance" in the third quarter, after absorbing the impact of the tragic events in Japan. Revenues at constant currency grew by over 8% in the three months ended 30 June (including the contribution from
Read moreThursday preview: Shell, Astra, Compass
27th Jul 2011 17:46
Investment analysts are going to need a plentiful supply of pencils and rubber erasers on Thursday for what is possibly the busiest day of the year so far for big company updates. Companies scheduled to update the market include AstraZeneca, BAE Systems, BT Group, Centrica, Croda International, Inc
Read moreCompass completes Turkish acquisition
13th Jul 2011 16:30
The world's largest caterer, Compass, has completed the acquisition of the remaining shares in its Turkish joint venture Sofra. In May Compass group announced it had agreed to acquire the remaining 50% of the issued share capital which it did not already own in Sofra subject to the go-ahead from Tu
Read moreLondon close: Footsie finishes well below 5,700
23rd Jun 2011 16:39
The Footsie steadily declined to finish below the 5,700 level on Thursday after last night's message from the Federal Reserve which highlighted its caution over the economic recovery in the US. While also cutting his forecasts for US growth, Fed chairman Ben Bernanke signalled the end of its second
Read moreFTSE 100 movers: Miners unwanted as metals prices drop
23rd Jun 2011 16:14
Miners dominated the fallers of the FTSE 100 on Thursday afternoon as commodity prices took a tumble. Vedanta Resources, ENRC, Kazakhmys and Xstrata are among the top ten worst performers, tracking copper, gold and silver futures lower. Just five stocks are making gains, British Sky Broadcasting b
Read moreCompass buys Hong Kong caterer
23rd Jun 2011 07:04
Catering giant Compass Group has strengthened its existing food services business with the Education and Business & Industry sectors in Hong Kong with a bolt-on acquisition. The UK firm is acquiring Shing Hin Catering Group from Au-Yeung Kwan for an undisclosed sum. Shing Hin Catering generated an
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