Punch Taverns urged to make debt default December 6, 2010 PUNCH Taverns, the heavily indebted pubs group, has been urged by a City analyst to default on two securitised loans worth around £2.6bn. The loans, known as A and B, have been securitised against 5,300 pubs. They currently require increasing levels of financial support from the parent company, currently around £43m a year, and yesterday [...]
FTSE left lower as investor confidence knocked January 27, 2011 The FTSE lost traction this afternoon after a credit rating cut on Japan knocked investor confidence from the market open, and poor results from fashion chain H&M saw retailers sold. The FTSE 100 closed down 0.07 per cent or 4.13 per cent at 5,965.08 with miners giving up earlier gains to allow steady asset management [...]
FTSE left lower as investor confidence knocked January 27, 2011 The FTSE lost traction this afternoon after a credit rating cut on Japan knocked investor confidence from the market open, and poor results from fashion chain H&M saw retailers sold. The FTSE 100 closed down 0.07 per cent or 4.13 per cent at 5,965.08 with miners giving up earlier gains to allow steady asset management [...]
Focus on Tunbridge Wells December 9, 2010 BISHOPS DOWN ROAD Price: £198,000 This one bedroom ground floor apartment is located within the development of Chartwell Lodge. The property is a short walk from the town centre where there are excellent shopping facilities, including the Royal Victoria Place shopping center and leisure centers. Facilities include a fitted kitchen and bathroom, a mirror wardrobe, [...]
HEDGE FUND MANAGERS GET A VERY RAW DEAL January 25, 2011 HEDGE fund managers rightly feel they are being persecuted by creeping EU legislation, which is suffocating their industry. But Hugh Hendry, a Scottish fund manager at Eclectica Asset Management, may be suffering from a touch of hyperbole. In the latest issue of Bloomberg Markets he likens the plight of the humble hedgie manager to the [...]
M&B boosts its profits but holds dividend November 23, 2010 PUB and restaurant group Mitchells & Butlers boosted full-year pre-tax profits by 26 per cent to £169m, but a £300m property write-off pushed it to a pre-tax loss, it reported yesterday. The owner of bar brands such as All Bar One, O’Neill’s, and Harvester saw 1.1 per cent revenue growth to £1.98bn over the year, [...]
FTSE struggles as Egypt turmoil unsettles markets January 31, 2011 The FTSE struggled to reclaim a morning of losses as political turmoil in Egypt unsettled investors. The FTSE 100 closed down 0.31 per cent or 18.43 points at 5,862.94, with travel firms suffering most from selloffs. Tour operator TUI Travel shed 2.62 per cent to close at 253p, while mid cap peer Thomas Cook lost [...]
Punch plans a review as its earnings sink October 12, 2010 Drinkers staying at home, higher taxes and the smoking ban in pubs hit profits at Punch Taverns, prompting Britain’s biggest pub group to yesterday announce an overhaul of the business. Punch said pre-tax profits in the 52 weeks to 21 August slipped to £131m from £160m a year ago as spending cuts and tax rises [...]
FOCUS ON: COLCHESTER, ESSEX November 25, 2010 HAWKINS WHARF Price: From £116,500 for a one-bed flat, from £220,000 for a three-bed town house This development is situated on the banks of the River Colne and many of the properties have views over the river. There will be 221 homes, all with luxury interiors and appliances. Contact: Weston Homes on 01279 873300 or [...]
FOCUS ON: COLCHESTER, ESSEX November 25, 2010 HAWKINS WHARF Price: From £116,500 for a one-bed flat, from £220,000 for a three-bed town house This development is situated on the banks of the River Colne and many of the properties have views over the river. There will be 221 homes, all with luxury interiors and appliances. Contact: Weston Homes on 01279 873300 or [...]