Viridor growth boosts Pennon profits
24th May 2011 07:31
Strong growth in its waste services group Viridor helped the water company Pennon post a rise in profits in the year to 31 March, despite regulatory restraints on how much it can charge its water customers. Pennon, which operates South West Water serving Devon, Cornwall and parts of Dorset and Some
Read morePennon in rubbish agreement
11th Mar 2011 07:56
Water group Pennon said its Viridor Oxfordshire subsidiary has won a 25-year residual waste treatment contract with Oxfordshire County Council. The contract requires financing, construction, and operation of a new Energy from Waste (EfW) plant at Viridor's site at Ardley near Bicester in Oxfordshir
Read moreAverage rise of 4.6% for water bills
25th Feb 2011 12:16
Rising inflation rates are feeding through to water bills with consumers facing an average increase in annual charges of 4.6%, according to Ofwat. The water industry regulator had agreed with the water companies that average bills should fall by 0.1% before inflation is taken into account. The inf
Read moreWednesday tips round-up: British Land, Premier Foods, Micro Focus...
16th Feb 2011 06:38
More good news from British Land, with third-quarter results that had analysts gushing. The property company showed underlying portfolio growth of 2.3% (to £9.3bn) in the third quarter, comfortably ahead of the 1.2% and the 1.4% in the first and second quarters respectively. The shares are trading
Read morePennon shrugs off Big Freeze
15th Feb 2011 07:47
Pennon has traded in line with expectations since October 1 and doesn't expect December's Big Freeze to have a material impact on results at either the water or waste businesses. Strong summer demand was followed by the coldest December in 100 years, bursting pipes across the country. "However, th
Read moreFTSE 250 movers: Exillon higher after test results
7th Feb 2011 15:48
Shares in Exillon Energy started the week on the front foot after test well results in the West Siberia basin kept up the oil producer's 100% drilling success rate since 2006. Defence firm Cobham has bought US surveillance technology company Corp Ten International. Cobham is paying $11.5m to acquir
Read morePennon beefs up waste recycling business
7th Feb 2011 07:38
Water group Pennon's subsidiary Viridor Waste Management has acquired a materials recycling company based in Somerset. Viridor is acquiring Martock Waste Paper from the owners on a debt free basis for £7.4m in cash. The acquired company comprises a recycling facility and associated collection acti
Read moreLondon close: No US jobs lift for FTSE 100
4th Feb 2011 16:40
The top share index finished the week just below 6,000 points after a sluggish day's trading. Traders were unsure how to react to US jobs data. Nonfarm payrolls rose just 36,000 last month, the Labor Department said Friday, well below forecasts of at least 140,000. On the bright side, December's nu
Read moreLondon afternoon: Footsie recovers from US jobs jolt
4th Feb 2011 14:40
The Footsie kept its head above 6,000 over the lunchtime period despite a negative reaction to US jobless figures at 1:30. Nonfarm payrolls rose just 36,000 last month, the Labor Department said Friday, well below forecasts of at least 140,000. On the bright side, December's number was revised up t
Read moreFriday tips round-up: Afren, Pennon, PayPoint...
26th Nov 2010 06:43
Oil explorer Afren's Okwok appraisal well in Nigeria established that there was a minimum economic field size of 25m barrels of oil equivalent (boe), confirming that the find is commercial. The field may be a standalone operation or it may be a satellite to the company's nearby Ebok field, which is
Read moreLondon close: Strong gains near the close
25th Nov 2010 16:48
Footsie closed the day healthily in the blue as investors got excited about shopping centre owners and other property groups. Capital Shopping Centres Group (CSC), the shopping centre arm of what used to be Liberty International, raced ahead after it put pen to paper to purchase Manchester's Traffo
Read moreLondon afternoon: US interest in Capital Shopping
25th Nov 2010 14:15
Footsie is more or less back to where it started the day after a quiet lunch time session, though investors continue to be excited about shopping centre owners. Capital Shopping Centres Group (CSC), the shopping centre arm of what used to be Liberty International, has raced ahead after it put pen t
Read moreLondon midday: Footsie sluggish despite updates
25th Nov 2010 12:05
Footsie is in sluggish mode, and may remain so given that the US is closed for Thanksgiving, but there is plenty of company news for traders to digest. Capital Shopping Centres Group, the shopping centre arm of what used to be Liberty International, has raced ahead after it put pen to paper to purc
Read moreLondon open: Strong start for FTSE 100
25th Nov 2010 08:30
Shares have got off to a good start following a warm reception for company updates. Capital Shopping Centres Group, the shopping centre arm of what used to be Liberty International, has raced ahead after it put pen to paper to purchase Manchester's Trafford Centre in a deal worth £1.6bn. WS Atkin
Read morePennon sqeezes out rise in profit
25th Nov 2010 07:31
Water and waste group Pennon managed a small increase in half-year profit as a big jump at recycling business Viridor offset a decline at South West Water. Profit before tax for the six months ended 30 September grew 0.7% to £96.2m, with Viridor contributing £28.6m, up 29%, and South West Water £70
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