Hargreaves Lansdown’s HMRC tax showdown September 9, 2013 FTSE 100 fund platform Hargreaves Lansdown laid down the gauntlet to tax collectors yesterday after launching a legal challenge on the taxation of fund cash back rebates. The Bristol-based firm, currently one of the country’s best performing companies, said it will challenge a discount tax introduced by HMRC on payments made to its customers. [...]
Zoopla hires bankers to draw up options for sale September 8, 2013 PROPERTY search website Zoopla yesterday said it had hired investment bankers from Credit Suisse as it eyes a float or potential sale of the business. The company, which is controlled by Daily Mail General Trust, is understood to have commissioned the bank to draw up a list of proposals to determine the future of the [...]
Goldman Sachs in pole position for Hastings bid August 29, 2013 GOLDMAN Sachs is discussions with British motor insurer Hastings about taking a stake in the company, it emerged yesterday. Hastings declined to comment on the identity of its potential suitor but the company said it is in discussion with various organisations as it looks to raise funds for future expansion. The company is currently privately owned [...]
Acquisition costs see earnings slip at office space firm Regus August 27, 2013 OFFICE space supplier Regus’s first-half profit fell three per cent, it said yesterday, as restructuring costs related to an acquisition earlier this year hurt margins. Regus, which offers business lounges, meeting rooms and office space for rent for periods as short as half a day, reported that pre-tax profit fell to £31.1m for the six [...]
Bunzl chief executive eyes more acquisitions as its revenues climb August 27, 2013 DISTRIBUTION firm Bunzl yesterday unveiled solid first-half results and two new acquisitions, and hinted more potential deals are on the horizon. The FTSE 100-listed group reported a 13 per cent increase in revenue to £2.96bn and a 12 per cent rise in pre-tax profits to £167.7m. It increased its dividend by 14 per cent to [...]
Strong London rents help boost UK Commercial Property Trust August 21, 2013 UK Commercial Property Trust, the largest UK-focused trust of its kind, said yesterday its net asset value (NAV) per share had dipped 1.2 per cent to 68.9p in the six months to 30 June, as the value of its property portfolio fell. The Guernsey-based trust, which owns retail and office properties across the UK, posted a [...]
Marks & Spencer overhauls its autumn campaign in its latest attempt to boost womenswear range August 18, 2013 MARKS & Spencer has scored a host of British names ranging from Oscar winning actresses to authors and Olympic athletes for its crucial autumn womenswear collection, which could determine Marc Bolland’s future at the chain. The chief executive of M&S has been under increasing pressure this year to stem eight straight quarters of declining sales [...]
Rentokil’s growth impresses despite disposal charge August 14, 2013 RENTOKIL boss Alan Brown impressed investors with his final set of results yesterday, which sent shares in the pest-killer up more than six per cent. The FTSE 250 firm said half-year revenues rose 3.7 per cent at constant currency to £1.17bn, while adjusted pre-tax profit was up 1.8 per cent at £87.66m. A [...]
Prudential hits record high due to expansion August 12, 2013 PRUDENTIAL boss Tidjane Thiam was yesterday vindicated after his decision to bet the company on overseas expansion pushed the insurer’s share price to record highs. Just three years ago Thiam’s job was on the line following a bungled £20bn bid for Asian rival AIA that left the company with a near-£400m bill. But now [...]
Prudential climbs higher as operating profits rise and Asia soars August 12, 2013 British insurer Prudential was the highest climber on the FTSE this morning after reporting a better-than-expected 22 per cent boost in first half operating profits to £1.42bn. Basic earnings per share also increased 22 per cent, rising to 42.2p from 34.6p in the same period the year before. The share price this morning increased by [...]