BUYING March 25, 2010 Camilla Dell MANAGING PARTNER AT BLACK BRICK Q.Dear Camilla, I am looking to sell my house in the near future and I was wondering how the property will be valued. A.The process of valuation in the current property market has become a very tricky business. Traditionally, valuers have depended, at least partially, on sale prices [...]
Live like a modern Victorian in London March 4, 2010 WALKING through London, it is hard to ignore the wealth of wonderful Victorian buildings in the city. Gothic turrets and solid red-crick municipal buildings are everywhere you look. Those Londoners who are forced to live in flimsy new-builds no doubt look enviously at the beautiful – and solid – architecture that made the city the [...]
How to make the most from the UK’s weak fiscal position March 24, 2010 CHANCELLOR Alistair Darling may have received jeers from the opposition while he delivered his Budget yesterday, but one thing all of the UK’s political parties agree on is that the projected £167bn budget deficit needs to be reduced. While the proposed timing of the deficit reduction differs between the parties, public spending will get the [...]
Montagu plans €2bn BSN float February 8, 2010 Private equity house Montagu has hired Morgan Stanley to plan a flotation of BSN Medical, which could value the German bandages maker at as much as €2bn (£1.75m). Montagu had put BSN up for sale 18 months ago, but was forced to abandon the auction in the wake of the financial crisis. There is also [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 2, 2010 FINANCIAL TIMES HGCAPITAL SAYS GOLDSHIELD UNDERSTATED PROFITS FOR YEARS Goldshield Group understated its profits by several million pounds over a number of years, according HgCapital, the private equity group that backed a £179m management buy-out of the drugmaker last year. HEDGE FUNDS RAISE BETS AGAINST EURO Hedge funds are raising their bets against the euro [...]
Balfour says it is in a good place to grow March 4, 2010 BALFOUR Beatty, Britain’s biggest construction company said yesterday that underlying pre-tax profit in 2009 rose seven per cent to £267m from £249m in 2008. The firm, whose activities span engineering, construction, road and rail transport, said its order book rose 10 per cent year-on-year to £14.bn, which it said gives it “good forward visibility”. The [...]
Sigh of relief for Reed Elsevier as results hit targets February 18, 2010 REED Elsevier, which publishes Variety and New Scientist, posted sales of £6.07bn for last year in line with expectations. Its operating profit rose one per cent to £1.57bn. But new chief executive Erik Engstrom warned margins would fall slightly this year due to increased investment in legal products. He said capital spending would rise to [...]
Q&A: SELLING February 11, 2010 Q.Dear Russell, I have been looking for a while and I have never come across a probate sale, despite hearing about them. How do you find out about these types of sales? A.Most probate sales – that is, when the home-owner has died – never make the open market, which is why you probably haven’t [...]
Housebuilders are still a risky bet February 24, 2010 DURING his election campaign, President Barack Obama told voters that America could “build itself out of recession”. That’s just what the housebuilders are hoping they can do. Barratt Developments was putting a brave face on it yesterday, as it reported higher operating margins and strong forward sales. Galliford Try and Kier Group were also cheery. [...]
Matalan nixes £1.5bn sale on price dispute February 10, 2010 MATALAN owner John Hargreaves has abandoned an auction of the budget fashion retailer after potential buyers refused to match his £1.5bn asking price. Hargreaves, who founded the chain in Preston in 1985, appointed Goldman Sachs and PricewaterhouseCoopers to explore a sale of the business in December after receiving unsolicited offers from private equity groups. Buyout [...]