Greene King FD pops off to Ladbrokes
15th Apr 2011 08:25
Lots of people fancy a bet after a trip to the pub but Ian Bull, group finance director of pubs group Greene King, is taking the practice to extremes by leaving the brewer to take up a similar role at Ladbrokes, the bookie. Bull will hang around until the announcement of Greene King's preliminary r
Read moreFTSE 250 movers: Punch disappoints as profits fall
12th Apr 2011 14:07
Punch Taverns disappointed after interim profits fell to £61m, from £66m. Financial services firm Matrix said that while the results were 'in line', there was not enough new information to warrant it changing its 'hold' rating. Pub peer Greene King, however, is among the risers. Budget airline eas
Read moreGreene King secures new debt facility
4th Apr 2011 07:46
Pub group and brewer Greene King has agreed a new debt facility with its lenders that will help it finance its expansion plans over the next five years. The new £400m revolving credit facility starts this year and lasts for five years. It replaces an existing £400m facility that was due to expire i
Read moreThursday tips round-up: Carillion, Admiral, Serco
3rd Mar 2011 06:30
Construction and engineering group Carillion's annual results came in above expectations, with underlying pre-tax profits up by 7% to £122m, operating margins boosted to 4.2% and plans to hike the full-year dividend by 6% to 39.4p. Davina Mendelsohn, at Deutsche Bank, rates Carillion one of the chea
Read moreSunday tips round-up: Barratt Developments, RSA, Greene King...
27th Feb 2011 11:59
There is no doubt that the UK housing market is in trouble. However, an investment in Barratt Developments is not a play on a recovery in the market - it is based on increasing margins. Because the group snapped up land cheaply during the downturn, if prices stay flat then margins will increase. Al
Read moreBroker snap: Punch split on the cards
21st Feb 2011 12:55
A break-up of debt burdened pubs group Punch Taverns could be on the cards, reckons Peel Hunt, with the group's Spirit managed pub estate being sold to the highest bidder. "Saturday's FT reports that six bondholding institutions have approached Marston's and Enterprise Inns (among others) to either
Read moreTuesday tips round-up: Greene King, SThree, RPC...
1st Feb 2011 06:47
Investors raised a glass to Greene King yesterday after the pub and brewing company delivered bullish trading, boosted by tasty food sales. The operator of the Old English Inns also reinforced its focus on pub food by acquiring Cloverleaf Restaurants for £55.8m. Overall, Greene King has proved its
Read moreLondon close: FTSE 100 falls short despite recovery
31st Jan 2011 16:41
The FTSE 100 struggled all day to drag itself into the blue after an early slide, but remained slightly in negative territory at the close of trading. Travel companies were still friendless as investors fretted about civil unrest in the popular holiday destination of Egypt. Airline IAG, the former
Read moreFTSE 250 movers: Greene King higher after update
31st Jan 2011 15:24
Brewer and pub owner Greene King is topping the risers list after it saw healthy trading over the past eight weeks despite the poor weather with all of its divisions in-line or improving from the half-year. Financial services firm Matrix has kept its 'buy' rating on Greene King. SThree also report
Read moreLondon afternoon: Stocks back on an even keel
31st Jan 2011 14:46
Footsie is more or less back to square one after a lunchtime trading session which saw US oil giant Exxon announce better than expected fourth quarter figures. Travel companies are still friendless as investors fret about civil unrest in the popular holiday destination of Egypt. Airline IAG, the f
Read moreBroker tips: Carillion, Greene King, SThree
31st Jan 2011 12:54
An update from Carillion has provided Panmure Gordon with additional confidence in its earnings forecasts, after the contracting firm demonstrated positive contract momentum and made a start to the current year that gives cause for optimism. The construction and support services specialist announce
Read moreLondon midday: Rally falters as Egypt casts shadow
31st Jan 2011 12:17
The FTSE 100 has given up an attempt to haul itself into the blue and remains firmly in negative territory. The Egypt crisis is still casting a shadow, with the credit rating agency Moody's downgrade of the North African country adding to worries. Travel companies are bearing the brunt of the sell
Read moreBroker snap: Top of sector trading at Greene King
31st Jan 2011 11:44
Financial services firm Matrix says that Greene King's trading update released on Monday was "very good" and represents the best performance in the pub groups sector for the recent 'update' season. Although not explicitly disclosed in the statement, the broker calculates that like-for-likes in the
Read moreLondon open: Egypt concerns unsettle blue chips
31st Jan 2011 08:54
Asian markets overnight were rattled by the weekend scenes of civil unrest in Egypt and this has put London's blue chips under pressure early on. Travel companies are bearing the brunt of the selling, Airline IAG, the former British Airways, TUI Travel and Intercontinental Hotels have all run into
Read moreLondon pre-open: Egypt casts a shadow
31st Jan 2011 07:38
Asian markets overnight were rattled by the week-end's scenes of civil unrest in Egypt, and the sense of unease has filtered through to London, where stocks are set to open lower. City traders expect the blue-chip index to open around 25 points lower. Brewer and pub owner Greene King saw healthy
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