New COO at FirstGroup
9th Jun 2010 08:25
There has been a game of musical chairs going on in the board room of rail and bus operator FirstGroup with a new deputy chief executive appointed while another director has announced her decision to quit at the end of the month. Tim O'Toole, who joined the board of FirstGroup as a non-executive di
Read moreBroker tips: FirstGroup, retailers
13th May 2010 15:53
The outlook appears to be stabilising at bus and trains firm FirstGroup, but Nomura worries that it will take time to get debt levels down to sector averages. Plans to reduce the high levels of debt "look sensible", says the broker. Wednesday's final results revealed net debt fell to £2.28bn in the
Read moreBroker snap: FirstGroup has 'more to do'
13th May 2010 11:58
The outlook appears to be stabilising at bus and trains firm FirstGroup, but Nomura worries that it will take time to get debt levels down to sector averages. Plans to reduce the high levels of debt "look sensible", says the broker. Wednesday's final results revealed net debt fell to £2.28bn in the
Read moreLondon close: Shares rise as government takes shape
12th May 2010 16:45
Markets started indecisively with attention focused on the trickle of news of cabinet appointments followed by the first performance of the Cameron-Clegg double act in the garden of 10 Downing Street, but shares later picked up and closed with good gains. Cameron and Clegg were given an indication
Read moreLondon afternoon: Coalition hopes lift Footsie
12th May 2010 15:07
Investors' attention remains firmly focused on the assembly of prime minister David Cameron's new government and his first press conference with new partner Nick Clegg. The pair seemed indistinguishable as they stood on the lawns of No 10 Downing St, but they were given an indication of the econom
Read moreLondon midday: Shares seeking direction
12th May 2010 12:04
With much of traders' attention focused on the assembly of prime minister David Cameron's new government, shares are little changed. Cameron, the country's youngest prime minister for almost 200 years, will head a coalition government of the Conservatives and Liberal Democrats. Lib Dem leader Nick
Read moreLondon open: Footsie starts lower
12th May 2010 08:42
London's top stocks opened slightly lower as David Cameron started his first full day as Britain's new prime minister. Cameron, the country's youngest prime minister for almost 200 years, will head a coalition government of the Conservatives and Liberal Democrats after a day of more dramatic twists
Read moreFirstGroup profits derailed
12th May 2010 07:41
Full-year profit fell 10% at bus and trains company FirstGroup, hit by the recession and higher fuel costs, while poor weather during the fourth quarter cost the business £16m. Profit before tax dropped to £179.6m in the 12 months ended 31 March, down from £200m the year before, on revenue up 2% to
Read moreThursday tips round-up: Bunzl, FirstGroup, Autonomy
22nd Apr 2010 06:09
Bunzl, which distributes a variety of products, including food packaging and catering equipment, posted what read as a rather dull update yesterday. Not that dull is bad: when dull means improving margins following cost reductions, dull is pretty good. Indicators are steadily turning positive, and,
Read moreFTSE 250 movers: Volcano disruption hits easyJet
19th Apr 2010 13:15
Airline easyJet is the biggest loser among second-liners as the volcano cloud across Europe continues to ground planes. Taking collateral damage is Frankie & Benny's owner The Restaurant Group, which has a number of its biggest earning restaurants located in airports. Pace's trading update has be
Read moreLondon close: Up and down day for London
31st Mar 2010 17:07
The movements of the blue-chip index looked like they were being directed by the grand old Duke of York on Wednesday, with the market finishing neither up nor down. British Sky Broadcasting (BSkyB) was predictably outraged at the decision by telecoms regulator Ofcom to order it to make its two top
Read moreLondon afternoon: Footsie slides into negative territory
31st Mar 2010 14:09
After a bright start London has turned lower in the afternoon session in anticipation of a weak start on Wall Street. Televised sport is big news on the trading screens as telecoms regulator Ofcom ordered BSkyB to make its two top sports channels available to rivals at a 23% discount to the curren
Read moreFTSE 250 movers: Gartmore makes partial recovery
31st Mar 2010 13:38
Fund manager Gartmore shares have recovered after they crashed by nearly a third as it suspended its star manager Guillaume Rambourg after an investigation into directive trades. Tenanted pub group Enterprise Inns said it was making 'excellent progress' in selling off its underperforming pubs, but
Read moreLondon midday: Footsie drifts lower
31st Mar 2010 12:17
Footsie is now flat as investors digest a big morning for company announcements. Televised sport is big news on the trading screens as telecoms regulator Ofcom ordered BSkyB to make its two top sports channels available to rivals at a 23% discount to the current price. This was a bigger cut than
Read moreFirstgroup counts cost of big freeze
31st Mar 2010 07:37
The impact of severe weather in the UK and North America during the fourth quarter is expected to hit Firstgroup's annual operating profit by approximately £16m, the bus and train group said today. FirstGroup added sales at its US Greyhound bus business would be down 14% down for the year to end-Ma
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