Majority of British public think companies receiving taxpayer’s money should be subject to Freedom of Information laws – 38 Degrees February 8, 2016 Six in 10 Brits believe Freedom of Information (FOI) laws should apply to companies receiving taxpayers' money to provide public services, according to a new poll released today. The survey, commissioned by campaigns group 38 Degrees and carried out by YouGov, showed only 10 per cent of the British public would oppose applying FOI laws to [...]
Supergroup and Serco: Best of the Brokers for 16 December 2015 December 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SUPERGROUP Fashion retailer Supergroup saw shares plummet after a note from Liberum downgrading its rating from “buy” to “hold” with a target price of 1,500p. The broker cited concerns over competition and excess inventory for the company’s label Superdry, which had led to [...]
Share price of Peppa Pig maker Entertainment One plummets as brokers’ sentiment falls December 8, 2015 Entertainment One's share price plummeted in late morning trade after a number of brokers either reduced their target price or downgraded the company's stock. Shares were down 11.51 per cent at 156p per share, leading the FTSE 250 lower, which was itself 0.38 per cent down at 17,290 points. Read more: eOne brings home the bacon as profits fly The company's share price [...]
Serco forecasts trading ahead of expectations for 2015 – but 2016 forecast pushes share price lower December 7, 2015 Is the iceberg-bound supertanker that is outsourcing giant Serco finally turning around? The company said this morning it expects 2015 trading "ahead of previous guidance". But investors weren't impressed: shares fell 8.6 per cent to 104.4p in early trading. Perhaps that was to do with expectations of a "further decline" in both revenues and trading [...]
City Moves for 12 November 2015 | Who’s switching jobs November 11, 2015 Lloyds Bank Commercial Banking Michael Bond has been appointed mid markets relationship director in the bank’s technology, media and telecommunications team in London. He previously held a similar role at Lloyds, looking after clients in the education, communities and government sector across the South East. State Street Global Advisors State Street’s asset management arm has [...]
Equiniti Group set for £390m London float October 2, 2015 Investor services firm Equiniti Group confirmed its plans to float on the stock market today. Equiniti, which provides share registration and investor services, said it planned to raise £390m through the float on the main market of the London Stock Exchange. The company intends to use proceeds from the IPO to reduce debt, which currently stands at £440m, and pursue potential [...]
Best of the Brokers for 18 September 2015 September 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com SERCO GROUP Berenberg thought yesterday’s £250m sale of offshore operations BPO to Blackstone was a turnaround and updated its rating from “sell” to “hold”, with a target price unchanged at 100p for public services contractor Serco. The disposal brought the company’s debt back [...]
G4S revenue up as new contract sales reach £1.4bn August 12, 2015 G4S said revenues rose to £3.3bn in the first half of this year, thanks to new contracts and growth in emerging markets. G4S share price is trading 0.8 per cent down on the news at 264.9p. The figures The outsourcing giant reported underlying profit before interest, tax and amortisation of £193m in the first six months [...]
Serco share price jumps as losses beat expectations August 11, 2015 Shares in troubled outsourcer jumped nearly three per cent to 129.2p in early trading after it displayed Churchillian levels of stoicism… The figures In a statement this morning, Serco said revenues in the six months to the end of June fell to £1.8bn, from £2bn this time last year, while its operating profit fell to a £24.8m loss [...]
Joblessness data and retail figures focus of quiet week – London Report August 9, 2015 THE CORPORATE results season has past its peak, but the week ahead is due to see some big financial news nonetheless, including UK unemployment figures on Wednesday. Tomorrow retail sales data will be published, while on Friday construction industry output figures will be out. Prudential is reporting its half-year interims tomorrow after chief executive Tidjane [...]