De La Rue confident despite paper problems
21st Jul 2011 13:55
Banknote and security printer De La Rue said that it remains confident in the trading outlook for the full year, despite ongoing paper problems at its Currency Division. The firm's chairman, Nicholas Brookes, said that while print volumes were higher than the first quarter of last year, paper volum
Read moreThursday newspaper round-up: Glencore, Southern Cross, Morrisons
2nd Jun 2011 06:06
Newly listed commodities trader Glencore has been barred from borrowing from the European Investment Bank (EIB) because of "serious concerns" about how the company is run. The bank, the lending arm of the EU, yesterday said it had frozen all new loans to the Switzerland-based group which floated in
Read moreWednesday tips round-up: Great Portland, Spectris, De La Rue...
25th May 2011 06:36
Great Portland Estates's assets per share were up by 27% to 360p in the year to the end of March, driven by rental growth of 10.8%, or 15.9% for West End offices, although retail lagged at 3.7%. A feature of this year's reporting season has been strong results from Land Securities and British Land,
Read moreDe la Rue profits dive after production problems
24th May 2011 07:58
Profits and revenues fell sharply at De La Rue in the year to 26 March as the banknote printer felt the impact of production problems that are thought to have affected its biggest client, India. Pre-tax profits before tax and exceptional items fell to £33.3m from £104.1m on revenues that slumped to
Read moreTuesday preview: M&S, De La Rue
23rd May 2011 17:23
Tuesday could see a bit of good news for the beleaguered UK High Street, as the bellwether of the retail sector, Marks and Spencer, is expected to issue a solid set of full year figures. The market is anticipating pre-tax profits of £714m on sales of £9.79bn, and earnings per share (EPS) of 32.92p.
Read moreFTSE 250 movers: Sales, profits tumble at Mitchells & Butlers
20th May 2011 16:01
The heavy faller of the day is pub chain operator Mitchells & Butlers after pre-tax profits fell to £43m, from £72m, in the same period the previous year on total revenues that fell to £946m, from £1.04bn. De La Rue is making gains after Numis upgraded the banknotes and passports printer to 'add',
Read moreBroker tips: CPP, De La Rue, Mitchell & Butlers
20th May 2011 12:28
UBS says that current trading is "ok" at CPP, but with slowing sales and no further clarity on the situation with the Financial Services Association (FSA), the broker cuts its forecasts. "We have reduced estimates by 8% for 2011, increasing to 16% by 2013 reflecting lower revenue growth in UK and S
Read moreWeek Ahead: M&S, De La Rue, Entertainment One
20th May 2011 12:13
Next Tuesday could see a bit of good news for the beleaguered UK High Street, as the bellwether of the retail sector, Marks and Spencer, is expected to issue a solid set of full year figures. The market is anticipating pre-tax profits of £714m on sales of £9.79bn, and earnings per share (EPS) of 32
Read moreBroker snap: De La Rue upgraded as bid speculation continues
20th May 2011 11:49
Numis has upgraded banknotes and passports printer De La Rue to 'add', from 'hold', on potential bid activity and anticipation of some earnings recovery. The broker says that if the group can deliver mid-cycle earnings of £100m/72p per share (Numis estimate) in a "visible time frame" (e.g. year end
Read moreFTSE 250 movers: Babcock rises on revenue growth
17th May 2011 15:45
Engineering support services group Babcock International was boosted after reporting that revenue during the year to 31 March was up by 50% and the full-year dividend would be raised by 10% to 19.4p. Peel Hunt kept a 'conviction buy' stance on the stock and raised the target price to 735p, from 675p
Read moreBroker tips: National Grid, Babcock, De La Rue
17th May 2011 12:39
While Nomura raises its estimates for power and gas grid operator National Grid (NG) ahead of the group's full-year results due on Thursday, the broker says that many positives are already priced in to the stock, and leaves its 'neutral' rating. The broker notes that NG has been a notable outperfo
Read moreBroker snap: Another bid looking likely at De La Rue
17th May 2011 12:12
UBS upgrades banknotes and passports printer De La Rue to a 'neutral' rating, from 'sell', on the increasing likelihood of another bid from French technology company Oberthur. In January, Oberthur said it would not make an offer for the company following De La Rue's swift rejection of a 935p-a-shar
Read moreLondon close: Shares in late dive as Mideast worries resurface
1st Mar 2011 16:43
The spectre of higher oil prices sent a chill down traders' spines late in the afternoon, sending shares plummeting into the red. The turmoil in the Arab World is behind the spike in crude, with a barrel for April delivery rallying towards $100 in New York. Worries over the possibility of protests
Read moreLondon afternoon: Hard going for Footsie
1st Mar 2011 14:53
It's proving a struggle in London with not long to go until the close, as Wall Street fails to inject much excitement and miners either see gains trimmed or disappear completely. Aerospace and vehicles engineer GKN has few friends. It bounced back into the black last year as all divisions bar aeros
Read moreLondon midday: FTSE 100 gives up gains
1st Mar 2011 12:07
The top share index is flat after giving up early gains, while company updates in the FTSE 250 have sparked big moves in both directions. Capita is the best performer in the FTSE 100 after the outsourcing group said it was in talks with Zurich about performing some administrative tasks for the ins
Read more