London pre-open: Cairn's bad run continues
30th Nov 2011 08:07
London is set to open lower despite a firm showing overnight on Wall Street. City sources predict the FTSE 100 will open down 50 points from yesterday's close of 5,337. Accountancy software group Sage saw underlying pre-tax profit from continuing operations rise 8% to £352.6m in the year to the en
Read moreMarston's strategy paying dividends
30th Nov 2011 07:11
Pubs owner and ale brewer Marston's served up a 4.8% increase in annual revenue and saw a robust start to the new financial year with a 3% increase in like-for-like (lfl) sales at its managed pubs in the last eight weeks. Group underlying pre-tax profit rose 9.4% to £80.4m for the 52 weeks ended 1
Read moreWednesday preview: Sage, Marston's, RPC
29th Nov 2011 15:48
Accountancy software giant Sage is set to release full-year results against a backdrop of a law-suit against it, brought by Archer Capital, which is suing for damages following the termination of discussions between Sage and Archer relating to the potential purchase of Sage's Australian competitor M
Read moreWeek Ahead: Pub groups, Kingfisher, US jobs
25th Nov 2011 14:18
We've had updates from Mitchells and Butlers, Enterprise Inns, Young's and Fuller's, and next week it is the turn of big hitters Marston's and Greene King to represent what used to be called the beerage, in jocular reference to the preponderance of toffs in the board rooms of Britain's brewers. Bot
Read moreUPDATE: Wednesday broker round-up
5th Oct 2011 09:12
Sainsbury: H2O Markets downgrades to hold. Tesco: Baadar Bank confirms buy rating and 500p target. Kingfisher: Investec keeps hold and 245p target. Wood Group: Investec places target under review, hold recommendation maintained. SuperGroup: Peel Hunt downgrades from buy to hold, target put unde
Read moreMarston's upbeat despite headwinds
5th Oct 2011 07:09
Pubs group Marston's said trading momentum for the year has been encouraging, despite the difficult trading environment. Earnings before tax and exceptional items are in line with company expectations, with improvement in all trading divisions, it said in a company update. In Marston's Inns and
Read moreRobust trading at Marston's
27th Jul 2011 07:57
Pubs owner and ale brewer Marston's said trading in the last 42 weeks had been robust, particularly in food sales, despite the difficult trading environment. Inns and Taverns, its managed pubs division, saw like-for-like sales for the 42 weeks to 23 July 2011 increase 2.9% from the same period las
Read moreBroker tips: Int'l Power, Michael Page, Marston's
11th Jul 2011 13:00
Matrix has kept its hold stance on electricity company International Power following the proposal by the Australian government to implement a carbon tax starting at A$23 per tonne. "The long-awaited Australian carbon tax has been a key issue for International Power; however, following the GDF Suez
Read moreBroker snap: Credit Suisse optimistic at Marston's, Greene King
11th Jul 2011 12:18
Credit Suisse has upgraded brewing and pubs group Marston's from neutral to outperform and raised its target price to 131p, from 116p, saying that the firm has "attractive growth prospects [coupled with] yield support." While the broker's forecasts for the year ending 2 October remain broadly uncha
Read moreBroker tips: CPP, Debenhams, Marston's
30th Jun 2011 12:52
Peel Hunt placed its rating and numbers under review at identity theft and credit card insurer CPP after the group mentioned no resolution to the ongoing investigation by the Financial Services Association (FSA). The firm - which announced in March that the FSA had raised sales-related issues with
Read moreBroker snap: Panmure Gordon raises target for Marston's
30th Jun 2011 12:51
Panmure Gordon kept its buy rating and upped its target price for brewing and pubs group Marston's, saying that management is successfully executing a "well-thought-out strategy." "Management is quietly making significant strides to reposition the group to achieve a more balanced earnings profile,
Read moreLondon close: More gains for FTSE 100
19th May 2011 16:48
Stocks finished with good gains again, though slightly off earlier highs, on a busy company news day. Shares in Investec rose sharply after the asset manager posted a rise in profits in the year to 31 March. The company, which operates in South Africa, the UK, Australia and other markets, said oper
Read moreLondon midday: Strong gains for FTSE 100
19th May 2011 12:10
Stocks are testing the 6,000 point mark now as investors digest a flurry of updates. Shares in Investec rose sharply after the asset manager posted a rise in profits in the year to 31 March. The company, which operates in South Africa, the UK, Australia and other markets, said operating profit befo
Read moreLondon open: Bright start for stocks
19th May 2011 08:35
It's been a strong start for the Footsie, with Investec among the high risers after revealing its full-year results. The specialist bank and asset manager saw operating profit before tax rise by 0.5%, as strong growth in Asset Management, Wealth and Investment and Investment Banking was able to off
Read moreLondon pre-open: Traders raise glass to firm start
19th May 2011 07:40
London is set for a boozy, cheery start with trading updates from brewers SABMIller and Marston's occupying attention in the early going. City traders expect the top-shares index to open around 34 points firmer at 5,958. National Grid saw pre-tax profit rise by 25% in the year to the end of March,
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