Kea Petroleum share price tanks after New Zealand mine plugged and left August 18, 2014 Oil and gas explorer Kea Petroleum’s shares plummeted over 66 per cent in one day, following an announcement that it would plug and abandon its Puka-3 well after poor results from drilling conducted at the site. The Aim-listed company, which focuses on New Zealand and has three oil exploration permits in the Taranaki Basin of [...]
Clock ticking as Carillion mulls Balfour Beatty options to sweeten £3bn mega-merger deal August 17, 2014 The saga of a potential £3bn mega-merger between construction giants Carillion and Balfour Beatty has entered its endgame, with Carillion considering its options to entice its rival as the clock ticks down on the chances of a deal. Carillion has until this Thursday to make another approach to its reluctant rival, after which it will [...]
Monarch to cut costs and plane numbers to fight budget rivals August 17, 2014 Monarch Airlines is believed to be considering cutting around 1,000 jobs as part of a major strategic review as it seeks to revive its fortunes in a bid to take on low-cost rivals such as easyJet and Ryanair. Delivering the strategic review is one of the key goals of new chief executive Andrew Swaffield, who [...]
Last winter of discontent hits Centrica profits July 31, 2014 The temperature just wasn’t right for profits at British Gas owner Centrica last winter, as group profits were walloped by an extreme polar freeze in the US, contrasting with a mild UK winter. Operating profits at Centrica plummeted 40 per cent in the first half of 2014, down to £890m from £1.49bn over the same [...]
Afren is hit by suspensions July 31, 2014 OIL EXPLORER Afren’s shares crashed over 26 per cent yesterday, after it suspended its chief executive Osman Shahenshah and chief operating officer Shahid Ullah, following alleged “unauthorised payments” to both from third parties. The action followed an internal review. Afren, active in Africa and the Middle East, postponed its half-year results, saying there was no [...]
Strong sterling hits British aerospace firms Rolls-Royce and BAE systems July 31, 2014 The pound’s strength yesterday continued to strike a blow to the profits of major British companies. Huge aerospace and defence firms Rolls-Royce and BAE systems, as well as engineering company Weir Group all announced that their profits had taken a hit from the currency’s rise. Both BAE and Rolls-Royce also said they had suffered from [...]
Freezing winter chills National Express profits July 30, 2014 EXTREME freezing winter weather in the US, strikes in Spain and the strength of sterling hit first-half profits at UK-based transport giant National Express, despite it winning £5bn worth of contracts so far this year. Operating profit fell to £89.5m in the first half of 2014, down from £97.2m over the same period last year, [...]
Aer Lingus ups profit forecast despite strike July 30, 2014 AER LINGUS yesterday restored its full-year profit forecast for 2014, now expected to be in line with its €61.1m (£48.3m) operating profit last year, only six weeks after it had warned of a possible drop in profits of up to 20 per cent owing to strike action. The improved profit outlook came as the Irish [...]
Airbus profits fly up 50 per cent as it looks to sell Dassault stake July 30, 2014 AIRBUS saw a lift off in its net income for the first half of 2014 as it rose 50 per cent to €1.14bn (£903m), with revenue up six per cent to €27.2bn, as the aircraft manufacturer said it was mulling options for the sale of its 46.3 per cent stake in Dassault Aviation. The stake [...]
Peugeot shares soar as its auto division roars back into profit July 30, 2014 SHARES in French carmaker Peugeot-Citroën zoomed up over six per cent yesterday, after the company revealed strong improvement in operating income. In addition, its auto division was back in profit for the first time in three years, as its four year turnaround strategy began to bear fruit. Consolidated operating income before one time items and [...]
