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Close Asset Management Holdings Limited

Tue, 22 May 2012 09:04:24 +0100

Restructuring strategy - losses continue
Close Asset Management recorded a loss in its 2012 interim results but its restructuring strategy has entered its final stage. Private client assets under management increased from £6.9bn to £7bn over the three months to the end of April 2012. Turnover in 2011 was £32m, 399 employees.

Stobart Group Ltd

Tue, 22 May 2012 08:39:21 +0100

2,000 potential new jobs - Widnes inter-modal site development - strong business performance
Logistics group Stobart expects to complete development at its Widnes road, rail and sea hub within three years, creating up to 2,000 jobs. Revenues increased to £551.9m for the year to February 2012, from £500.4m in 2011. Pre-tax profits increased to £30.5m compared with £29.5m previously. The group employs a total of 5,500 staff.

Bakkavor Holdings Limited

Tue, 22 May 2012 00:47:12 +0100

Loss of £1.5m - Sales down 1.2% to £414m - Challenging trading environment
UK manufacturer Bakkavor has recorded a net loss of £1.5m for the three months to the end of March 2012, compared to a net profit of £8.1m in the previous year. Net sales in the period dropped 1.2% to £413.9m, however like-for-like sales grew 3.1%. Raw material inflation and a challenging trading environment has affected the company. Agust Gudmundsson is the chief executive.

Alliance Boots Holdings Limited

Mon, 21 May 2012 10:32:13 +0100

Revenue up 18% to 23bn - international expansion strategy
Alliance Boots recorded an 18% increase in revenue to 23bn in the year to March 2012. Trading profit increased 12.4% to 1.2bn. The strong performance was achieved through organic growth and acquisitions. The group expects profitable growth and international expansion to continue despite the difficult economic environment.

Totally Plc

Fri, 18 May 2012 16:00:02 +0100

Revenue rises 2 per cent at publishing company - Profit up 1 per cent
London based publishing company, Totally Plc, has recorded revenues from continuing operations of £1.85m, up 2 per cent from 2010. Gross Profit from continuing operations rose 1 per cent to £1.46m. Dr Michael Sinclair is Non-Executive Chairman of Totally Plc.

Doncasters Group Limited

Fri, 18 May 2012 09:19:28 +0100

Revenues up 11% to £745m - loss increased to £11.5m - £5.5m acquisition funding
Staffordshire-based Doncasters Group recorded an 11% increase in revenues to £745m in 2011 but its loss increased from £9.3m in 2010 to £11.5m in 2011, after exceptional items of £63.2m for the year. Its owner, Dubai International Capital, is investing £5.5m to fund an acquisition and business growth is expected in 2012.

Babcock International Group PLC

Fri, 18 May 2012 09:19:28 +0100

£61m disposal of VT Services - increase in profits and revenue
Babcock International has sold US defence business VT Services for £61m to VT Holdings Inc. VT Service was acquired as part of the takeover of VT Group in 2010 and does not fit with Babcocks strategy. Babcock recorded revenue of £3.1bn in 2011, compared with £2.7bn in 2010, while pre-tax profit increased from £216.7m to £274.1m.

Sterling Green Group Plc

Thu, 17 May 2012 09:00:03 +0100

£516,000 loss recorded - acquisition - £10m fundraising
Cheshire-based Sterling Green Group recorded a loss after taxation for the year to March 2012 of £516,000, compared with £1.9m in 2011. The figure includes costs and losses of £344,000 relating to the disposal of its trading subsidiaries in December 2011. It is acquiring another company and is raising £10m through a share placing.

Avon Cosmetics Ltd

Thu, 17 May 2012 03:05:12 +0100

To consider 10.7bn dollar Coty - business review - profits fall
US-based Avon Products is considering a 10.7bn dollar takeover bid from Coty after failing to respond to an earlier bid of 10bn dollars. The deadline to respond to the latest bid was 14 May 2012 but Avon is seeking additional time. Avon recorded weak first-quarter results, including a fall in profits and is planning a business review.

Keychoice Underwriting Limited

Wed, 16 May 2012 08:56:28 +0100

Outsourcing contract agreed - 10 jobs lost - Monthly loss of 70k
Keychoice Underwriting is to outsource its underwriting function to Towergate, resulting in 10 redundancies. Keychoice Underwriting will retain responsibility for relationship management, sales and marketing for the business. The company is losing around 70,000 a month. Jonathan Davey is the managing director.