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London open: Stocks slip after Bernanke caution

Thu, 23rd Jun 2011 08:32

Shares are in the red after the US Federal Reserve's more cautious stance last night on the growth prospects of the world's biggest economy.Asset manager The Carlyle Group is to buy roadside assistance provider RAC from insurance giant Aviva, a riser today, for one billion pounds. The transaction values RAC, the UK's second largest driver-membership scheme provider, at 17 times 2010 net earnings, Aviva said.Recycled packaging firm DS Smith is in demand after it overcame a sharp rise in input costs to grow pre-tax profits by 86% last year. Profit before tax in the year to 30 April rose to £102.2m from £55.0m the year before, on sales that rose 19.5% to £2,474.5m from £2,070.6m. With the effects of the recent acquisition of Otor stripped out, sales rose 10.0% year-on-year.Train and bus operator Go-Ahead is in the fast lane after saying it expects to post a full-year profit ahead of expectations as high petrol prices and tough economic conditions prompt drivers to abandon their cars in favour of public transport.Currys and PC World owner Dixons is down after it saw underlying profit before tax dip to £85.3m in the year to end-April from £90.0m the year before. The group said it is increasing market share across most of its markets and sectors, especially in the UK and the Nordic countries.Military decoy flare and mine detection firm Chemring is under heavy attack even after it managed to post a sharp rise in sales and profits in the half-year to 30 April despite constraints on military spending in Britain and the US. Revenues climbed by 29% from the previous year to £329.8m, while underlying pre-tax profits were up by 17% at £49.6m. Software group Micro Focus is in the red after the company's underlying earnings coming in below the guidance range issued at the time of the company's February profits warning. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell to $158.7m in the year to 30 April, down 8.4% from the $173.3m achieved the year before. The group had indicated in February that underlying earnings would be in a range running from $159m to $167m. FTSE 100 - RisersSainsbury (J) (SBRY) 329.10p +0.98%Aviva (AV.) 433.30p +0.96%British Sky Broadcasting Group (BSY) 836.50p +0.72%Compass Group (CPG) 598.50p +0.50%BP (BP.) 446.05p +0.18%Shire Plc (SHP) 1,850.00p +0.16%HSBC Holdings (HSBA) 605.90p +0.05%GlaxoSmithKline (GSK) 1,281.50p +0.04%Randgold Resources Ltd. (RRS) 4,930.00p +0.04%Smiths Group (SMIN) 1,107.00p 0.00%FTSE 100 - FallersLloyds Banking Group (LLOY) 45.72p -2.73%Royal Bank of Scotland Group (RBS) 37.62p -2.66%Barclays (BARC) 247.10p -2.06%Vedanta Resources (VED) 1,927.00p -2.03%Man Group (EMG) 237.20p -1.90%Inmarsat (ISAT) 571.00p -1.81%Severn Trent (SVT) 1,378.00p -1.43%Centrica (CNA) 322.70p -1.38%Prudential (PRU) 700.50p -1.34%Carnival (CCL) 2,287.00p -1.34%FTSE 250 - RisersDS Smith (SMDS) 223.90p +4.82%Carpetright (CPR) 711.50p +2.15%Daejan Holdings (DJAN) 2,800.00p +1.82%Euromoney Institutional Investor (ERM) 645.00p +1.34%Henderson Group (HGG) 146.80p +1.17%Misys (MSY) 414.90p +1.10%Keller Group (KLR) 451.40p +0.94%Grainger (GRI) 122.70p +0.90%Stagecoach Group (SGC) 247.40p +0.65%Kenmare Resources (KMR) 53.80p +0.56%FTSE 250 - FallersChemring Group (CHG) 570.50p -10.44%Imagination Technologies Group (IMG) 398.30p -3.91%Micro Focus International Plc (MCRO) 343.00p -3.11%Ocado Group (OCDO) 189.30p -3.02%Halma (HLMA) 390.90p -2.25%Dixons Retail (DXNS) 16.16p -2.24%St. Modwen Properties (SMP) 180.00p -2.17%Barratt Developments (BDEV) 108.20p -2.17%Redrow (RDW) 115.10p -1.96%Unite Group (UTG) 209.90p -1.82%
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17 Mar 2022 08:16

LONDON BRIEFING: Deliveroo loss widens but pedalling toward breakeven

(Alliance News) - Food delivery firm Deliveroo on Thursday said 2021 was a year of strong growth and strategic progress, which it believes will lead to long-term profitability.

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9 Mar 2022 11:41

IN BRIEF: Go-Ahead hires Royal Mail UK interim CFO as finance chief

Go-Ahead Group PLC - Newcastle, England-based public transport operator - Hires Sarah Mussenden to be chief financial officer, starting May 9. Mussenden currently is interim CFO at Royal Mail UK, part of Royal Mail PLC. Previous roles were at British Gas, part of Centrica PLC, and British Airways, part of International Consolidated Airlines Group SA. She currently is a non-executive director of asset manager Premier Miton Group PLC. At Go-Ahead, Mussenden will replace Interim CFO Gordon Boyd.

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24 Feb 2022 16:35

Go-Ahead expects to pay GBP30 million penalty amid "challenging" year

(Alliance News) - Go-Ahead Group PLC said on Thursday that it had narrowed its pretax loss but noted issues with the UK Department for Transport regarding its London & South Eastern Railway operations.

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24 Feb 2022 10:11

Go-Ahead records 'strong' performance in long-delayed results

(Sharecast News) - Go-Ahead Group reported a "strong" financial performance in its bus and Govia Thameslink Railway (GTR) operations in its much-delayed full-year results on Thursday, offset by challenges in its international rail division and its former Southeastern rail franchise.

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24 Feb 2022 08:15

LONDON BRIEFING: Warren East to depart as CEO of improving Rolls-Royce

(Alliance News) - Rolls-Royce on Thursday said Chief Executive Officer Warren East has decided to step down at the end of 2022, after nine years on the board and almost eight years as CEO.

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23 Feb 2022 09:51

IN BRIEF: Go-Ahead to release delayed annual results on Thursday

Go-Ahead Group PLC - Newcastle-based bus and train operator - Plans on Thursday to release its delayed results for the financial year that ended July 3 last year. At that point, Go-Ahead will ask for the suspension of trading of its shares and corporate bonds to be lifted. The suspension was imposed because the company missed the deadline for filing its accounts. The delay was to allow auditors Deloitte to consider the implications of a review of the London & South Eastern Railway franchise, operated by Go-Ahead. The UK government found that "serious errors" were made by LSER in its dealings with the Department for Transport over several years. Go-Ahead apologised for "failing to notify the DfT of certain overpayments or monies due to the DfT", but the government is considering enforcement action, including a financial penalty.

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31 Jan 2022 15:28

Moody's withdraws British rail firm Go-Ahead's rating

LONDON, Jan 31 (Reuters) - Moody's has withdrawn its credit rating of UK rail and transport firm Go-Ahead after the company delayed the publication of its financial results for a fourth time, the ratings agency said on Monday. "Moody's has decide...

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24 Jan 2022 10:02

IN BRIEF: Go-Ahead expects annual results release end February

IN BRIEF: Go-Ahead expects annual results release end February

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24 Jan 2022 09:00

Go-Ahead results delayed again as auditors ask for more time

(Sharecast News) - Crisis-hit transport group Go-Ahead on Monday delayed publication of its financial results for a third time as investigations continue into its rail franchise scandal.

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19 Jan 2022 15:18

EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

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4 Jan 2022 14:02

Go-Ahead shares suspended due to late-running results

(Sharecast News) - Go-Ahead Group made a request for its shares and bond to be temporarily suspended from trading on Tuesday, pending its results for the year ended 3 July.

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4 Jan 2022 10:34

IN BRIEF: Go-Ahead suspends listing on annual results delay

IN BRIEF: Go-Ahead suspends listing on annual results delay

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21 Dec 2021 21:40

TRADING UPDATES: Charles Stanley sale greenlit; ASA portfolio grows

TRADING UPDATES: Charles Stanley sale greenlit; ASA portfolio grows

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20 Dec 2021 16:21

EXECUTIVE CHANGES: New senior independent directors for Go-Ahead, Wizz

EXECUTIVE CHANGES: New senior independent directors for Go-Ahead, Wizz

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15 Dec 2021 16:03

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

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