Indian tycoon Anand Mahindra to buy Saab owner following Swedish car group’s collapse December 10, 2014 Indian billionaire Anand Mahindra is close to sealing a deal to buy the remnants of collapsed Swedish car group Saab, marking his latest attempt to accelerate his firm Mahindra & Mahindra’s global expansion. Mahindra & Mahindra is India’s leading sport utility vehicle (SUV) maker by sales. He plans to buy a majority stake in the [...]
Earnings drop knocks stocks at Micro Focus December 10, 2014 IT ENTERPRISE firm Micro Focus yesterday reported a dip in half-year pre-tax profit, adding that it was yet to show the full impact of its $1.2bn (£765m) purchase of US rival Attachmate. Shares fell seven per cent after publication of the results. The British company said revenues, on a constant currency basis, were $208.3m in the six [...]
Iomart’s profits increase fails to impress market December 9, 2014 Cloud computing company Iomart Group yesterday posted a rise in first-half pre-tax profits as acquisitions helped to boost revenue, yet failed to impress investors as shares in the firm closed down 22 per cent. In the half year to 30 September, Iomart posted a pre-tax profit of £5.5m, up from £4.4m a year before. Revenue [...]
EasyHotel pre-tax profits slip as costs mount after Aim listing December 9, 2014 Hotel operator easyHotel yesterday reported a lower pre-tax profit for its last financial year, due to costs associated with its listing on Aim earlier this year. The company also revealed a flat profit on an adjusted basis, once stripping out those costs and other payments, as central costs surged. “Current trading is healthy and we [...]
DX Group buys half of Gnewt for £1.75m to expand green services December 9, 2014 INDEPENDENT postal company DX Group yesterday said it had acquired at 49.8 per cent stake in Gnewt Cargo, an environmentally friendly delivery services company. The Buckinghamshire-headquartered DX will pay approximately £1.75m in cash upon completion of the deal. The founders of London-based Gnewt will retain the remaining stake in the business. Founded in 2009 with [...]
Maggie’s Centre agrees deal with St Bartholomew’s to share facilities at City hospital December 4, 2014 A new cancer care centre in the centre of the City moved a step closer yesterday when the three groups involved in the scheme agreed to proposals for a Maggie’s Centre at St Bartholomew’s Hospital. The plans, proposed by cancer care charity Maggie’s and backed by Barts Health NHS Trust and The Friends [...]
Tui Travel posts soaraway profits in final results before merger December 4, 2014 UK TRAVEL operator Tui Travel yesterday reported a higher profit for its last financial year driven by strong demand in the UK, Germany and Netherlands for its higher margin “unique holidays”. The Thomson and First Choice owner said it had also halved losses from its French tour operating business. In its last set of results [...]
Ryanair says being nicer has lifted earnings December 4, 2014 IRISH budget airline Ryanair yesterday raised its full-year profit forecast, following a 22 per cent jump in passenger numbers to 6.35m people in the year to November. The airline said it now expected profits to be between €810m and €830m (£636m-£652m), partly due to better customer service. Just last month, Ryanair had raised its profit [...]
David Beckham and Simon Fuller sign deal with Global Brands Group December 4, 2014 David Beckham and Simon Fuller yesterday signed a deal with Hong Kong-listed Global Brands Group to push brand Beckham into new products – and bring in other celebrities on similar terms. Former Manchester United and England star Beckham and Fuller, his long-term business partner and creator of American Idol, signed a 50-50 joint venture with [...]
Qatar appoints Sheikh Abdullah bin Mohammed bin Saud Al-Thani as new chief for sovereign fund December 3, 2014 Qatar’s sovereign wealth fund yesterday appointed a member of the emirate’s royal family to replace its chief executive. The Qatar Investment Authority (QIA), which manages as much as $300bn (£191bn), including significant stakes in Barclays, Credit Suisse, Sainsbury’s and London department store Harrods, has named Sheikh Abdullah bin Mohammed bin Saud Al-Thani as CEO. He will [...]
