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LONRThu, 29th Jul 2010 07:45
Lonrho, the Africa focused investment firm, saw a strong rise in revenues and profits but left the market wanting more. During the half year, the firm generated revenues of £81.4m, compared to £60.5m for the same period the previous year. On a like-for-like basis, revenues were up 35%. Profit bef
Read moreTaylor Wimpey: Peel Hunt keeps at sell. XChanging: Peel Hunt stay at sell. Tullet Prebon: Singer Capital keeps at buy. Bovis Homes: Panmure Gordon stays at hold. Rotork: Panmure Gordon upgrades to buy from hold. Lonrho: Panmure Gordon keeps at buy. Hammerson: Panmure Gordon keeps at buy. Smi
Read moreLonrho, the Africa focused investment firm, has bought an 80% stake in a site in Mozambique which it believes could become a strategically important hotel and office complex. The first phase of the project in Beira, on Mozambique's east coast, will see an existing property redeveloped into a brande
Read moreLonrho Ports will be the sole developer and manager of a new oil logstics port in Western Ghana, Lonrho announced on Thursday. Shares in Lonrho, the Africa-focused investment company, rose 3.33% to 15.50p at 14.45pm. Lonrho Ports signed a memorandum of understanding with the Ghanaian government's
Read moreLonrho subsidiary, Lonrho Budget Hotels, has signed a 20 year master franchise agreement (MFA) with easyHotel to open and operate an easyHotel network across Africa. The news comes as African holding company Lonrho reports a 19.1% increase in revenue for the third quarter on a like-for-like basis.
Read moreGeorge Osborne has promised to cut "very high" tax rates this autumn to try to head off a row over poor growth figures and warnings from cabinet colleagues that the economy faces the biggest challenges for decades. Kenneth Clarke, the Justice Secretary, warned yesterday that "the [economic] icebergs
Read moreYesterday, the logistics group Stobart issued full-year figures, with pre-tax profits falling short of market hopes. But the share price rose as the focus turned to the confident outlook statement. Moreover, the stock is down more than 20% since the recent February peak. That, unsurprisingly, has hi
Read moreAfrican conglomerate Lonhro reported good growth across its operations in the second quarter, but it said some growth businesses have had a slow start and the shares fell. Sales in the three months to 31 March were up by 37% from the same period a year ago at £33.5m. At the agribusiness, turnover
Read moreCairn Energy moved to a pre-tax profit of $577m (£352m) last year, against a small loss in 2009. Cairn also reported progress in Greenland, where it is conducting a widely watched exploration campaign. The group said the offshore-Greenland programme has "the potential for transformational growth".
Read moreAIM-quoted Lonrho is acquiring camp services provider AFEX for $3m plus performance-related deferred consideration of up to $7m. The deferred payment is based on 1.8 times EBITDA over the next two years. In 2009, AFEX made a pre-tax profit of $1.57m on revenues of $15.9m. House broker Panmure Gord
Read moreViews on consumer giant Unilever vary. The bulls say that the company's strong brands offer an ideal way into emerging markets. The bears yesterday were worrying about margins. The markets that Unilever occupies are fiercely competitive, and the cost of the commodities it needs are rocketing. As o
Read moreEuropean technology group Acal's like-for-like sales have increased by 17% since September, driven by strong growth in its core electronics division. "Assuming no deterioration from current levels, we expect full year results to be ahead of our previous expectations," the group said. Profits at
Read moreShares in IPSA fell by a quarter after the Southern Africa-focused power generation group said that Sasol Gas, the South African gas producer and supplier, is suing IPSA's subsidiary Newcastle Cogeneration, for about £4m. IPSA said the sum relates to penalties incurred as a result of a plant not ru
Read moreA strong performance on Wall Street ahead of the US Federal Reserve's decision on whether to increase monetary stimulus measures - not to mention the mid-term election - helped sustain good gains in London. Sentiment here was buoyed by well-received results from some big names. Beleaguered oil gia
Read moreFootsie moved sideways over the lunch time session, as investors digested a busy morning of big company announcements. Beleaguered oil giant BP comfortably beat third quarter profit forecasts though it has had to take an additional $7.7bn charge in respect of the Gulf of Mexico oil spill. The marke
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