Tuesday tips round-up: Serco, Hiscox
11th Nov 2014 07:31
Take a step back to keep forging ahead, that was yesterday´s message from Serco´s chief, Rupert Soames, as he announced a 1.5bn pound write-off related to a review of goodwill and mispriced contracts. Understandably, given that it wiped 40% off of next year´s consensus forecast for earnings, the sha
Read moreLondon close: FTSE ends higher after busy day for company news
10th Nov 2014 17:06
UK stocks ended the session on a high, helped by gains across the Pond and hopes of stimulus from China following the weekend's data. The FTSE 100 climbed 44.01 points to end the day at 6,611.25. "In London, the equity market was drawn to the psychological 6,600 mark as trading volumes are as thin
Read moreFTSE 250 movers: Serco plunges after issuing profit warning
10th Nov 2014 16:03
Under-pressure business-to-government outsourcing group Serco saw shares sink as the company delivered a profit warning to investors and said it is planning a rights issue after writing down the value of its business by £1.5bn. Meanwhile, oil explorer Cairn Energy announced a "significant" oil find
Read moreBroker tips: Serco, Asos, Genel Energy, Aveva
10th Nov 2014 12:45
Analysts showed their disappointment with a poorly-received statement from Serco on Monday, as the outsourcing company announced a profit warning, £1.5bn of write-downs, and a proposed a rights issue. Oriel Securities analysts said the update "provides some colour on the future shape of the group".
Read moreLondon midday: Mining stocks push FTSE 100 to five-week high, Serco drops
10th Nov 2014 11:27
UK stocks started the new trading week on the front foot with mining shares resilient despite some mixed economic data from China overnight. However, Serco was the standout mover with the FTSE 250 outsourcing stock losing as much as a third of its value after a profit warning and proposed rights iss
Read moreUncertainties remain 'aplenty' at outsourcer Serco, say analysts
10th Nov 2014 09:57
Analysts showed their disappointment with a poorly-received statement from Serco on Monday, as the outsourcing company announced a profit warning, £1.5bn of write-downs, and a proposed a rights issue. Oriel Securities analysts said the update "provides some colour on the future shape of the group".
Read moreLondon open: Miners lift UK stocks higher, but Serco plummets
10th Nov 2014 08:33
UK stocks advanced on Monday morning, led by decent gains in the heavyweight mining sector despite some mixed trade figures from China. The FTSE 100 was up 0.4% at 6,594 in early deals after closing Friday's session at 6,567.24, its highest finish since 6 October. However, gains on the FTSE 250 were
Read moreSerco planning rights issue after £1.5bn write-down and profit warning - UPDATE
10th Nov 2014 07:54
Under-pressure outsourcing group Serco has delivered a profit warning to investors and said it is planning a rights issue after writing down the value of its business by £1.5bn. The company also announced it would also exit all it private-sector business process outsourcing (BPO) activities and focu
Read moreInterserve secures UK probation contracts
29th Oct 2014 15:24
Support and construction company Interserve is the only UK-based company to have been named among the preferred bidders for the 21 rehabilitation services contracts by the Ministry of Justice (MoJ). The group was named as the preferred bidder for five of the contracts, covering Humberside, Lincolshi
Read moreLiberum slashes target on Serco but sees turn-around potential
23rd Sep 2014 13:24
Analysts at broker Liberum have slashed their price target on outsourcing giant Serco due to the multiple issues which the company is facing. Nevertheless, they does see room for improvement. Foremost, consensus sales are under pressure from attrition and a lack of wins while margins are suffering
Read moreTuesday broker round-up UPDATE
23rd Sep 2014 09:36
AVEVA: JP Morgan reduces target price from 2450p to 1825p, while leaving its overweight rating unchanged. African Minerals: Credit Suisse reduces target price from 120p to 25p, while leaving its neutral rating unchanged. Aviva: Goldman Sachs ups target price from 490p to 515p and reiterates a neutr
Read moreSerco wins Australian immigrant detention facility extension
4th Sep 2014 09:19
International service company Serco Group has been chosen by the Department of Immigration and Border Protection as the preferred bidder to continue providing detainee facilities in Australia. The FTSE 250-listed company said commercial negotiations and the procurement process are ongoing and wer
Read moreThursday broker round-up UPDATE
14th Aug 2014 09:39
Admiral Group: Deutsche Bank reduces target price from 1330p to 1260p and maintains a hold recommendation. Balfour Beatty: Deutsche Bank lowers target price from 250p to 245p keeping its hold recommendation. Betfair: Jefferies raises target price from 1175p to 1230p maintaining a buy recommendatio
Read moreWednesday tips round-up: Serco, RM2 International
13th Aug 2014 10:04
Outsourcing specialist Serco's latest set of half-year results make for grim reading. On the positive side of things, the company seems to have its eye on the ball, improving its return on capital employed. Auspiciously, if one is optimistic, its new chief executive Rupert Soames - the ex-boss at Ag
Read moreFTSE 250 movers: Just Eat shares jump on strong first half
12th Aug 2014 14:50
Online takeaway marketplace Just Eat said profits trebled in the first half of 2014 on the back of strong demand and accelerating growth in mobile. The company said pre-tax profit was up 200% at £6m on revenues that jumped by 58% to £69.8m, causing shares to surge in morning trade. High street book
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