FTSE 350 Weekly News Recap featuring Greene King, IG Group Holdings, Misys, WH Smith, Compass Group, Aggreko, Wincanton and Halfords
Friday
Greene King (LON:GNK) has acquired four pub restaurants from Punch Taverns for a total consideration of £5.3m.
Thursday
Halfords Group (LON:HFD) released preliminary results for the year ended 2nd April 2010. Revenue was up £36.9m to £831.6m while profit before tax was up £24.7m. The Board has recommended a final dividend of 14.0p making a full year dividend of 20.0p, up 25.8% on the previous year.
Wincanton (LON:WIN) saw revenue decline 7.6% to £2,182.9m for the year ended 31st March 2010. The full year dividend has been maintained at 14.91p.
Home Retail Group Plc (LON:HOME) said that economic conditions remain both challenging and uncertain, with this quarter proving difficult in terms of consumers’ willingness to spend. The Company is targeting to achieve a similar level of profitability to last year.
BP (LON:BP.) has noted the fall in its share price in US trading last night. The Company is not aware of any reason which justifies this share price movement.
Wednesday
IG Group Hldgs (LON:IGG) expects to report revenue of approximately £298m and adjusted profit before tax of approximately £157m, representing revenue growth of 16% and profit growth of 25%, for the year ended 31st May 2010.
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Misys (LON:MSY) has agreed to sell the majority of its 54.6% interest in its Allscripts subsidiary, and that Misys intends to return substantially all of the proceeds to shareholders.
Tuesday
Chloride Group (LON:CHLD) has agreed to recommend the all cash offer by ABB for the Group of approximately £860m. The Boards of Directors of both companies have agreed on a recommended offer price of 325p per Chloride share.
Wh Smith Plc (LON:SMWH) said that total Group sales in the first 14 weeks of the second half of the financial year were down 3% were down 3% with like-for-like sales down 4% compared to the same period last year. The Board remains confident in the outcome for the full year.
Compass Group (LON:CPG) has announced the acquisition of Southeast Service Corporation for a cash consideration of $65m.
Aggreko (LON:AGK) expects Group revenue for the first half of the year to grow by around 10% and trading profit will increase by around 20%.
Monday
Prudential (LON:PRU) released a trading update in which it reported Group-wide sales of £1,355m for the first five months of the year, up 27% on the previous year. Performance in Asia was particularly strong with sales up 33% to £579m while the Company also reported record retail sales in the US of £454m which was an increase of 41% on the previous year.
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Prudential plc (Prudential), is an international financial services group, with operations in Asia, the United States and the United Kingdom. Prudential is structured around four business units: Prudential Corporation Asia, Jackson National Life Insurance Company (Jackson), Prudential UK insurance operations and M&G. Prudential Corporation Asia's core business is life insurance, health and protection, either attached to a life policy or on a standalone basis, and mutual funds. It also provides selected personal lines property and casualty insurance, group insurance, institutional fund management and consumer finance (Vietnam only). In November 2011, Prudential announced that its Asian Fund Management operations would be rebranded Eastspring Investments. Its indirect wholly owned subsidiary, Jackson National Life Insurance Company, purchased SRLC America Holding Corp (SRLC) from Swiss Re AG, on September 4, 2012. more »
Aggreko plc (Aggreko) provides power and temperature control solutions to customers who need them either very quickly, or for a short or indeterminate length of time. The Company operates in two segments: Local business and International Power Projects. In its Local business, the Company hires its equipment to customers who then operate it for themselves. The Company maintains and services the hired equipments. In its International Power Projects business, the Company operates as a power producer. Aggreko installs and operates power plants, and its customers pay for generating capacity available and also the electricity delivered to them. As of December 31, 2011, the Company served customers in about 100 countries and conducted its business from 165 service centres and offices, located in 39 countries. On March 31, 2011, it acquired the business and assets of N.Z. Generator Hire Limited. On April 16, 2012, it acquired Companhia Brasileira de Locacoes. more »
