Smiths' recovery on track
18th May 2010 07:38
The underlying improvement in revenues and margins at medical and engineering group Smiths continued in the three months to end April. "Smiths Group delivered margin improvement and strong cash generation through its programme of operational improvement in the nine months to 1 May 2010," it added
Read moreThursday tips round-up: Smiths Group, ENRC, Bellway
25th Mar 2010 06:33
Forget all the fuss about what you can or can't see through an airport full-body scanner ? a clear picture was provided yesterday by a company that makes these devices, as Smiths Group released first-half results. Chief executive Philip Bowman's overhaul of Smiths through the creation of a series
Read moreLondon close: Market unmoved by Budget
24th Mar 2010 16:49
The blue-chip index finished marginally higher after a Budget that was light on bells and whistles While there was little in the Budget to excite anyone other than first-time buyers, cider drinkers and British occupants of Dominica, Grenada and Belize, the corporate news scene was busy, with half
Read moreLondon afternoon: Banks bounce after Budget
24th Mar 2010 14:42
The Chancellor of the Exchequer has delivered his Budget speech and the net effect has been to leave the Footsie barely changed on the day. Banks seem to have been the major beneficiaries of the Chancellor's speech, with the absence of any bank bashing leading to firmer prices for part-nationalised
Read moreSector movers: Smiths lifts industrial sector
24th Mar 2010 13:24
Technology firm Smiths Group is giving the general industrials sector a lift. The company, which supplies X-ray machines to airports, posted a rise in pre-tax profits in the six months to January 30 despite flat sales as it benefited from actions taken to increase efficiency, including laying off st
Read moreLondon midday: Footsie dips ahead of Budget
24th Mar 2010 11:49
Footsie has turned down ahead of the Budget as investors wait to see what new initiatives, if anything, chancellor Alistair Darling has to offer. While investors wait, there are plenty of company announcements to digest. Travel companies are doing well. TUI Travel noted a 'significant recovery in
Read moreSmiths Group lifts profits despite flat sales
24th Mar 2010 07:45
Technology firm Smiths Group posted a rise in pre-tax profits in the six months to January 30 despite flat sales as it benefited from actions taken to increase efficiency, including laying off staff. Pre-tax profits totalled £178m, up from £167m over the same period the previous year. Sales slipped
Read moreLondon close: Footsie recovers losses
22nd Mar 2010 17:05
Footsie finished just a few points lower after an improvement on Wall Street helped London's leading share index recover most of its earlier losses. South Africa-focused bank Investec is leading the revival on its first day as a FTSE 100 constituent. Smiths Group is right behind after Smiths Interc
Read moreLondon afternoon: US strength sparks rally
22nd Mar 2010 15:19
A firm start on Wall Street has given London a lift and pushed the Footsie back towards Friday's closing level. South Africa-focused bank Investec is leading the revival on its first day as a FTSE 100 constituent. Smiths Group is right behind after Smiths Interconnect, a division of the technology
Read moreLondon midday : Equities turn down
22nd Mar 2010 12:12
London's blue chips are now well down on the 21-month high seen last week after sellers dominated the morning session. ICAP is the heaviest faller. The inter-dealer broker has decided to close elements of its cash equities business after conducting a broad ranging strategic review. As a result, the
Read moreLondon open: Weak start for Footsie
22nd Mar 2010 08:43
London has pulled back from last week's 21-month high after Wall Street's eight-day winning streak ended Friday. Royal Dutch Shell is in the news, after Australian coal bed methane producer Arrow Energy agreed to a raised bid worth A3.4bn (£2.06bn) bid from the UK oil giant and partner PetroChina.
Read moreSmith buys IDI for $185m
22nd Mar 2010 07:58
Smiths Interconnect, a division of technology firm Smiths Group, announced the $185m all-cash purchase of Kansas City-based Interconnect Devices Inc. (IDI) from private equity firm Milestone Partners. The deal is subject to regulatory approval in the US and is expected to complete in early April.
Read moreArrow agrees raised Shell/PetroChina offer
22nd Mar 2010 07:08
Australian coal bed methane producer Arrow Energy has agreed to a raised bid worth A$3.4bn (£2.06bn) bid from Royal Dutch Shell and PetroChina. Shell and PetroChina are now offering A$4.70 a share in cash for Arrow's Australian assets plus one share in a new listed company to be called Dart Energy.
Read moreBroker snap: John Menzies due re-rating
11th Mar 2010 11:24
Aviation and newspaper distributor John Menzies should be re-rated after getting debt to more acceptable levels and re-introducing the dividend, says JP Morgan. Tuesday's results revealed a "resilient" performance from the distribution operations, while like for like (LFL) trading at the aviation b
Read moreBroker tips: SABMiller, Smiths, SSL
19th Nov 2009 13:08
The world's second biggest brewer, SABMiller, was the best performing blue-chip in London on Thursday after interim results, but Merrill Lynch remains hard to please. 'We do not believe the market will upgrade EBITA [earnings before interest, tax and amortisation] materially for 2010, but earnings
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