Spirax-Sarco buys 51% stake in Spirax-Sarco Mexicana
25th May 2010 15:14
Spirax-Sarco Engineering announced that it has acquired the remaining 51% stake in its Mexican operating company, Spirax-Sarco Mexicana, from its local partners for £10.7m. The consideration will be settled in instalments over an expected five year period from existing resources. It is anticipate
Read moreFriday tips round-up; Schroders, Aggreko, Standard Chartered
5th Mar 2010 06:52
The stock market may still be one fifth below its record high, but Schroders has surpassed its turn of the century peak. Yesterday's full-year results from the FTSE 100 fund manager revealed that its total assets under management had risen to £148bn. The company's willingness to continue sitting on
Read moreLondon close: Footsie suffers hiccup
4th Mar 2010 16:40
The blue chip index failed to stretch its winning streak to a fifth session, falling for the first time this week on negative results reaction and downbeat miners. It held above 5,500 all day despite coming close just after trade began and towards the end of play. Engineering and project managemen
Read moreLondon afternoon: Stocks are becalmed
4th Mar 2010 14:13
It's been an up and down day for the blue-chip index although the Footsie has rarely strayed far from its overnight level. As expected, the Bank of England has held interest rates at 0.5% and taken no further action on quantitative easing (QE) amid conflicting signals over the state of the UK econo
Read moreSector movers: Engineers motor higher
4th Mar 2010 13:55
Well received results from IMI and Spirax-Sarco have helped lift the industrial engineering sector higher. IMI posted a sharp fall in profits and revenues in 2009, but said its concentration on niche areas helped it maintain strong margins. The company, whose activities include fluid power and bev
Read moreFTSE 250 movers: Spirax-Sarco steams ahead
4th Mar 2010 13:54
Spirax-Sarco, the engineer that provides services and products for steam-using and specialist peristaltic pumping markets, is higher after it posted record sales and profits in 2009, with a large helping hand from the weakness of sterling. Fellow engineer IMI is also posting strong gains. The compa
Read moreSpirax cautious despite upturn
4th Mar 2010 09:24
Spirax-Sarco, the engineer that provides services and products for steam-using and specialist peristaltic pumping markets, posted record sales and profits in 2009, with a large helping hand from the weakness of sterling. Adjusted profit before tax, which excludes exceptional charges, edged higher t
Read moreLondon afternoon: US jobs sour sentiment
8th Jan 2010 13:54
Footsie has turned down after a worse than expected US monthly jobs number. Job losses were 85,000 in December against the more optimistic forecasts of a large positive number. In the UK, Kazakhi companies Eurasian Natural Resources (ENRC) and Kazakhmys are on the up while Randgold Resources and B
Read moreLondon midday: Waiting for US jobs data
8th Jan 2010 11:58
The market remains in wait-and-see mode ahead of the release of the change in US non-farm payrolls at 1:30pm. The December figure could be significant in that some economists are expecting it to show the trend for job losses evident since December 2007 has finally ended. Back in the UK leading sha
Read moreFTSE 250 movers: M&B cheers strong trading
8th Jan 2010 11:33
Investors have raised a glass to Mitchells and Butlers after the pub group said trading in the new financial year has remained strong, thanks to sales growth across the main brands, but cautioned that it is still cautious on the outlook for consumer spending. Tenanted pub group Punch Taverns is als
Read moreLondon open: Bright start for blue chips
8th Jan 2010 08:46
London's blue chips are on the rise again, with banks going well and restaurant and pubs groups boosted by Mitchells and Butlers and the Restaurant Group. Pub group Mitchells said trading in the new financial year has remained strong, thanks to sales growth across the main brands, but cautioned tha
Read moreSpirax profit to beat forecasts
8th Jan 2010 07:46
Spirax-Sarco, the steam valve and pump maker, expects pre-tax profits for 2009 to be above the top of the current range of analysts' forecasts. Sales for the year increased 3% from 2008, including a small contribution from acquisitions and an exchange benefit of 10%. Trading margins in the second
Read moreRightmove chairman's £1.24m gain
1st Dec 2009 15:06
Scott Forbes, chairman of residential property website operator Rightmove, has exercised options over 600,000 shares and immediately sold them all. The exercise price was 335p a share so there was a gain of 206.32p a share. That is an overall profit of £1.24m. Forbes retains 619,000 shares, or 0
Read moreSpirax sales slippage stabilising
9th Nov 2009 07:44
Steam system specialist Spirax Sarco said the rate at which its sales are declining stabilised in the third quarter. Sales for the year to the end of October were 9% lower in constant currency terms than in the corresponding period of 2008. At the half year stage sales had been down 8% on a constan
Read moreGrid finance chief sells again
24th Sep 2009 17:14
Gas and electricity network operator National Grid has sailed through the turbulence of the past year relatively unscathed. The share price now is still lower than this time in 2008, but has bounced strongly since April and finance director Steve Lucas is taking advantage to sell his second chunk
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