Broker snap: International performance underpins Serco outlook
10th Mar 2011 13:45
UBS says that the outlook at Serco is encouraging as some short-term headwinds in the UK should be offset by a longer-term pipeline and international performance. 2010 results announced last week were broadly in-line with market expectations, "with growth and cash flow particularly encouraging in o
Read moreShaftesbury boss invests £100,000
4th Mar 2011 17:03
Shaftesbury chief executive Jonathan Lane has invested a further £100,000 in the property investor. Lane has bought 22,222 shares at 450p each. That takes his stake to 966,233 shares, which is worth £4.3m at the latest purchase price. Lane raised just over £99,000 from the sale of option shares la
Read moreFTSE 100 movers: Talis purchase boosts Capita
4th Mar 2011 13:27
Outsourcing firm Capita Group has acquired Talis Information, a provider of management software and managed services to the academic sector. Fellow outsourcing group Serco is also higher after Bank of America Merrill Lynch raised its recommendation from neutral to buy. Advertising giant WPP made
Read moreThursday tips round-up: Carillion, Admiral, Serco
3rd Mar 2011 06:30
Construction and engineering group Carillion's annual results came in above expectations, with underlying pre-tax profits up by 7% to £122m, operating margins boosted to 4.2% and plans to hike the full-year dividend by 6% to 39.4p. Davina Mendelsohn, at Deutsche Bank, rates Carillion one of the chea
Read moreLondon close: FTSE 100 falls short as turmoil continues
2nd Mar 2011 17:01
Shares fought valiantly to finish in the blue but fell short as worries over the turmoil in the Middle East continued to cast a shadow. Gold moved above $1,436 to a record high as traders sought safe investments amid turbulent times. The oil price stayed strong having risen above $100 in New York.
Read moreLondon afternoon: Footsie narrows deficit
2nd Mar 2011 15:45
An improvement on Wall Street has lifted the mood in London, although prices are still under pressure following a mixed reaction to today's batch of results. Asia-focused bank Standard Chartered posted profits bang in line with forecasts at $6.12bn for 2010, while this year got off to a flying sta
Read moreFTSE 100 movers: Standard Chartered meets expectations
2nd Mar 2011 14:09
Asia-focused bank Standard Chartered reported profits in line with forecasts at $6.12bn. This year has got off to a flying start, with the group enjoying a record January, both in terms of income and profit. Outsourcer Serco says that it foresees "headwinds" in 2011 as the government's austerity
Read moreLondon midday: Shares in partial recovery
2nd Mar 2011 12:30
Shares have moved back towards positive territory after a difficult start, with the Middle East turmoil still casting a shadow. Company updates have been given a mixed reception. The price of a barrel of oil traded above $100 a barrel as the fighting continues in Libya. Latest reports say forces lo
Read moreLondon open: Subdued start as Libya weighs
2nd Mar 2011 08:49
Blue chips have made a subdued start with the ongoing situation in the Middle East/North Africa and possible impact on oil prices weighing heavy. Some shares are making progress. Profits in 2010 from Asia-focused bank Standard Chartered were bang in line with forecasts at $6.12bn, while 2011 got of
Read moreSerco sees UK headwinds
2nd Mar 2011 07:28
Outsource giant Serco expects "headwinds" in 2011 as the government's austerity measures bite, but still expects to make progress towards its 2012 targets. Serco posted strong figures for 2010 with profits up by 21% to £214m, from £177m, on sales up 9% to £4.33bn. Underlining the performance, the d
Read moreWednesday preview: Standard Chartered, Serco, ITV
1st Mar 2011 17:49
With results from HSBC out of the way, it is time for the other London-listed Asia-focused banking giant, Standard Chartered, to take centre stage on Wednesday. Standard Chartered makes around three-quarters of its profits from Asia, and competition has been hotting up in the region, putting margin
Read moreLondon close: Blue chips rally near close
24th Feb 2011 16:40
Shares rallied near the close despite the ongoing turmoil in Libya as Saudi Arabia indicated it would boost production to meet any shortfall caused by the unrest. Libya only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Algeri
Read moreFTSE 100 movers: Bumper profit from Capita
24th Feb 2011 15:27
Outsourced services provider Capita is the best performer after its figures. Capita lifted revenues and profits in 2010 despite the coalition government's cost-cutting drive. Pre-tax profits climbed to £364.2m from £325.1m on revenues that rose to £2.74bn from £2.69bn. Serco has risen on the back
Read moreMouchel in advanced talks, shares jump
24th Feb 2011 13:03
Shares in Mouchel jumped after the outsourced services provider said it is in 'advanced discussions' with a potential bidder. Engineer Costain has bid for Mouchel, whose activities include providing CCTV-equipped cars used by local authorities to nab traffic offenders, twice in the past three month
Read moreSerco breaks into NZ gaol market
1st Feb 2011 08:12
Support services giant Serco has picked up the £140m contract to manage Mt Eden Corrections Facility in Auckland, New Zealand. Serco was selected as preferred bidder last year for the ten-year contract, which is valued at around NZ$300m, approximately £140m. The full contract will commence in Augus
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