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The Business Matrix: Thursday 21 February 2013
Rexam targets Brazil growth
Rexam, the drinks can maker for Coca-Cola, Pepsi and Red Bull, fixed its sights firmly on Brazil yesterday ahead of the 2014 football World Cup and 2016 Olympics. The company said it hoped to increase market share in the world's fourth-largest economy as it gears up to host both major sporting events.
STV rides out flat ads market
Investing in online and making television shows for other broadcasters is helping STV grow at a time when the traditional ad market is set to stay flat in the medium term. The Scottish broadcaster's revenues from programme-making jumped 20 per cent last year, helping to nudge up group sales to £102.7m.
Centaur embarks on M&A trail
The publisher of The Lawyer and Marketing Week is ready to go on the acquisition trail again as Centaur Media chief executive Geoff Wilmot says a lengthy reshaping of the business to make it “digital-first” is now over. “We're now resuming a more proactive approach to looking at M&A opportunities,” declared Mr Wilmot.
Faulty wiring in ANA Boeing
Japan's Transport Ministry said an investigation into the overheating of a lithium ion battery in an All Nippon Airways (ANA) Boeing 787 found it had been improperly wired. The Transport Safety Board said that the battery of the aircraft's auxiliary power unit (APU) was incorrectly connected to the main battery that overheated.
Iconix snaps up Lee Cooper
Iconix Brand Group Inc which licenses shoe and clothing brands to retailers and manufacturers has acquired British denim label Lee Cooper for $72m in cash. The company, owner of brands such as Ed Hardy, Rocawear and Candie's, acquired the brand through its Luxembourg subsidiary.
Travis Perkins profits up
The building supplies firm Travis Perkins, which also trades as Wickes, said profits rose 16 per cent to £313m in 2012, helped by an improvement in the final quarter. But poor weather and comparisons from a year earlier meant underlying sales were down 5.1 per cent in the first seven weeks of 2013.
Galliford Try raises dividend
Galliford Try increased its interim dividend by a third as continued momentum in the southern regions of its housebuilding operation helped profits remain steady at £32m. But profits at its construction division fell by 24 per cent to £8m.
AirAsia in budget carrier bid
Asia's largest low-cost carrier, AirAsia, has announced proposals to launch an Indian budget airline with India's Tata and a third investor, Telestra Tradeplace. The companies said that they were looking for approval from the Indian government.
Sweett order book turns sour
The services firm Sweett, which specialises in programme and project management, said its contracted order book has exceeded £100m for the first time in its history. Two-thirds of the firm's orders now come from overseas.
Cussons in German deal
PZ Cussons, the maker of Imperial Leather soaps, has agreed the sale of its laundry detergent, fabric conditioner and washing up liquid products in Poland and central and eastern Europe to Germany's Henkel for £46.6m.
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