Hobbs owner 3i sees chances July 18, 2013 VENTURE capital firm 3i said yesterday it had seen an increase in investment opportunities in the US and northern Europe, as it announced a boost in payouts to shareholders. 3i, owner of women’s fashion chain Hobbs, has spent the last year restructuring following shareholder frustration at its poor share price performance and weak results from [...]
Rise in profits at BlackRock as investors flock July 18, 2013 BLACKROCK, the world’s largest money manager, said yesterday that its second-quarter profit rose 32 per cent, citing strong global demand from its retail and institutional clients and growth in markets. Net income at the New York-based company totalled $729m (£479m), or $4.19 per share, up from $554m, or $3.08 per share, a year earlier. Excluding [...]
Arbuthnot to enter SME market with Bank of England funding July 18, 2013 ARBUTHNOT Banking Group yesterday announced its plans to enter the asset finance and invoice finance business, aided by cheap funds from the Bank of England’s Funding for Lending Scheme (FLS). The group, made up of Arbuthnot Private Bank and Secure Trust Bank, reported 64 per cent growth in underlying profits to £7.2m in the first [...]
Mixed results for Dentons and Travers July 18, 2013 LAW FIRM Dentons unveiled its first set of financial results since its merger yesterday, securing its place among the top 20 law firms in the world with revenues of £829.7m. Dentons, which was born out of a merger between SNR Denton, Canadian firm Fraser Milner Casgrain, and Salans, posted net income of £225.2m, but did not provide [...]
Sports Direct to pay staff £150m in shares bonus July 18, 2013 THOUSANDS of Sports Direct employees are set to share in a bonus pool worth over £150m after the sports retail giant posted record profits. Around 2,000 staff will next month receive an average of 12,000 shares each as part of a 2009 bonus scheme that – at yesterday’s share price – will be worth around [...]
Bottom Line: Reward scheme pays off for all July 18, 2013 AS PROFITS at Sports Direct soared by 40 per cent yesterday, chief executive Dave Forsey waxed lyrical about how important the group’s employee incentive scheme had been in driving performance. Even if you’re not one of the 2,000 staff getting three times their salary in shares later this month, it’s hard to argue with his [...]
John Lewis boss hired to ease China visa rules July 18, 2013 JOHN LEWIS retail boss Andrew Murphy was named as chairman today of the UK China Visa Alliance (UKCVA), the retail body lobbying for a shake-up of visa rules to attract more Chinese tourists to the UK. Under current rules Chinese visitors to Europe can apply for a single visa for access to all 26 countries [...]
Mothercare hopes for feel-good factor from arrival of royal baby July 18, 2013 MOTHERCARE, the baby products retailer, is hoping that a “feel-good factor” from the imminent royal baby birth will in turn have a positive impact on sales. Chief executive Simon Calver said the group had put together a celebration range that included Born to Rule sleepsuits and Princess/Prince in Training bibs to mark the birth of [...]
Analyst views | What did you make of mothercare’s first quarter results? July 18, 2013 KEITH BOWMAN HARGREAVES LANSDOWN The outlook for the company remains highly uncertain. The UK business is already battling significant competition, while the track record for UK retailers overseas is decidedly mixed. In all, despite a doubling in the share price over the last year, analyst opinion remains sceptical in tone, pointing towards a weak hold. [...]
HR Owen turns down investor’s takeover offer July 18, 2013 LUXURY car dealership HR Owen yesterday spurned a takeover offer from its biggest shareholder, claiming the £32.5m bid was “unsolicited and unacceptable”. HR Owen said Berjaya Philippines’ offer of 130p per share represented a premium of just 7.4 per cent on the share price before the bid was announced. “The board believes the offer by [...]
