Rank to demand £26m VAT repayment
15th Dec 2009 07:42
Bingo and gaming group Rank is to demand repayment of nearly £26m of VAT after a tribunal again ruled it had been overcharged tax on gaming machines between 2003 and 2005. 'As a consequence of this ruling, Rank will request payment from Her Majesty's Revenue & Customs of £25.9m of overpaid VAT. The
Read moreLondon pre-open: Moderately firm start expected
11th Dec 2009 07:45
London's leading shares are set to open on a firmer footing, with dealers forecasting the blue chip index will open around 10 points higher. Support services and construction company Carillion expects market conditions will remain challenging but said it believes it will make further progress in 20
Read moreRank submits bingo VAT claim
11th Dec 2009 07:24
Casinos and bingo outfit Rank said it has submitted a claim for VAT overpaid on main stage bingo for periods from July 2004. If successful, Rank estimates that the net cash benefit arising from this claim will be approximately £16m. 'Rank notes the recent guidance received from Her Majesty's Reven
Read moreFriday tips round-up: Ted Baker, Ladbrokes, Carphone Warehouse
9th Oct 2009 06:36
Ted Baker yesterday provided further evidence that its upmarket, and sometimes quirky, clothing is still in fashion with British shoppers. The group's shares, which trade on a forward 2010 price earnings ratio of 14.3 times, are also at a premium to standard high street retailers, although this par
Read moreRank revenues up, positive outlook
8th Oct 2009 07:46
Casinos and bingo outfit Rank reported a 2% rise in revenue in the 14 weeks to 4 October and said it remains confident in its sustainable growth strategy. On a like-for-like basis, revenue was in line with the comparable period. Grosvenor Casinos continued to perform well as a result of strong gr
Read moreThursday preview: BoE rate decision, Rank, Carphone Warehouse
7th Oct 2009 17:39
On Thursday the Bank of England's Monetary Policy Committee (MPC) will announce its interest rate decision and, as has been the case for several months, it would be a major surprise if the MPC were to make any decision other than no change. Similarly, the size of the £175bn quantitative easing (QE)
Read moreWeek Ahead: Tesco, Rank, BoE rate decision
2nd Oct 2009 13:18
UK supermarket giant Tesco issues interim results on Tuesday which will be complicated by the inclusion for the first time of Tesco Personal Finance as a consolidated entity. Broker Charles Stanley is forecasting profit before tax of £1,450m on sales of £28,250m, versus comparative figures from a y
Read moreLondon close: Meek end to bumper week
31st Jul 2009 16:23
Blue chips ended a near-record breaking week on a low note. Footsie closed down sharply after disappointing second quarter consumer spending figures in the US. Insurers lead the market lower ahead of the sector's results season. Standard Life, Old Mutual, RSA Insurance, Friends Provident and Leg
Read moreLondon afternoon: US consumer spending casts pall
31st Jul 2009 14:10
The Footise dropped sharply after disappointing second quarter consumer spending figures in the US. Insurers lead the market lower ahead of the sector's results season. Standard Life, Old Mutual, RSA Insurance, Friends Provident and Legal & General are the worst performers among life assurance s
Read moreSector movers: Travel stocks move up
31st Jul 2009 13:27
Rank is leading the travel and leisure sector higher. The casino and bingo hall operator said underlying pre-tax profits rose to £24.7m in the six months ended 30 June compared with £17.6m last time. Analysts expected a profit of around £20m. Revenue came to £266m from £257m previously. Net debt re
Read moreFTSE 250 movers: Rank and UBM boosted by interims
31st Jul 2009 13:26
Rank and UBM, both posting double digit percentage gains, are jostling for top spot in the FTSE 250. Casino and bingo hall operator Rank said it would not pay an interim dividend, but shares in the gambling firm rallied as half year results came in better than expected. Business publisher United B
Read moreLondon midday: Equities move sideways
31st Jul 2009 12:06
Leading shares remain mixed but with a slight bias to the upside, helped by improved sentiment towards travel stocks. British Airways is a bright spot after making some positive noises to accompany its first quarter results. "While traffic volumes are down considerably compared to last year, they h
Read moreUpdate: Rank results beat expectations
31st Jul 2009 12:04
Rank said it would not pay an interim dividend, but shares in the gambling firm rallied as half year results came in better than expected. Underlying pre-tax profits rose to £24.7m in the six month ended 30 June compared with £17.6m last time. Analysts expected a profit of around £20m. Revenue came
Read moreLondon open: More gains for blue chips
31st Jul 2009 08:51
London's top stocks have pushed on again helped by British Airways sounding slightly more upbeat than in recent weeks and more gains for the miners. British Airways said it will further cut capacity, parking a total of 22 aircraft during winter 2010, as it swung to a loss in the first quarter. "Whi
Read moreRank not to pay interim dividend
31st Jul 2009 07:47
Gambling firm Rank said it would not pay a dividend for the first half of the year as the wider economic environments in the UK and in Spain remain difficult. The group plans to resume dividend payments in the future, once trading conditions and market outlook improve. Underlying pre-tax profit
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