Business news in brief
Thursday 03 April 1997
Ultra Electronics, the specialist supplier of equipment to the Navy and Air Force, just beat its forecast profit of pounds 14.5m for 1996 made at the time the company floated last October. Turnover was up 27.1 per cent including organic growth of 17.5 per cent and, after an exceptional charge of pounds 600,000 attributed to the cost of providing staff shares in the float, profit before tax was pounds 14.1m, up from pounds 6.4m in 1995. Pro forma earnings per share jumped from 6.9p to 15.1p, compared with the 14.8p forecast last October, but as forecast there will be no dividend this year. An interim dividend will be paid in October. The shares fell 4p to 278.5p.
Johnston Press ahead
Johnston Press, the regional newspaper group, reported pre-tax profits before exceptional items of pounds 23.5m, up from pounds 16.8m in 1995. Analysts said this year should see a further improvement, with advertising strong and cover sales rising. There will also be a first time contribution from the newspaper titles acquired from Emap for pounds 211m last July.
UniChem buys pharmacies
Moss Chemists, the retail division of UniChem, has bought two community pharmacies in Essex and Northumberland for up to pounds 716,000. The deal will increase the number of Moss outlets in Britain to 459.
Building contractor joins AIM
Bickerton Group, a building contractor in the public and private sectors, said it is joining the Alternative Investment Market with a placing of up to 5.1 million ordinary shares at 40p. Dealings in the oversubscribed issue start on Friday. In the eight months to December, the group achieved pre-tax profits of pounds 226,000 on turnover of pounds 16.2m.
Falling demand hinders UDO
Interim pre-tax profits for UDO Holdings fell to pounds 2.27m from pounds 3.17m. Chairman Mike Wright blamed falling demand in the goods and supplies business. "With the benefit of hindsight we might have reacted more quickly to the falling demand and operational problems," he said. Earnings per share were down to 5.09p from 7.25p. The interim dividend was maintained at 2.75p.
Fee revenue boost for Shandwick
Shandwick's pre-tax profits in the first four months of the current financial year are ahead of the same period a year earlier on the back of an 11.3 per cent increase in comparable fee revenues, chairman Lord Chadlington said at yesterday's annual meeting. He added that like-for-like revenues should grow at more than 10 per cent this year, with a particularly strong performance in the US.
- 1 Replica Back to the Future Hoverboard released
- 2 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 3 Brixton squat flats now costing up to £3k per month show how out of control rent is in London
- 4 Gamers confess the worst things they've done in The Sims
- 5 Dylan Moran on quitting smoking, being about as sexy as the Pope and why comedy panel programmes are 'c*ck shows'
Costa Concordia: Shipment of Mob drugs was hidden aboard cruise liner when it hit rocks off Italian coast, investigators say
Brixton squat flats now costing up to £3k per month show how out of control rent is in London
Iran nuclear talks: Prospect of deal with Iran pushes Saudi Arabia and Israel into an unlikely alliance
A new (old) cure for MRSA? Revolting recipe from the Dark Ages may be key to defeat infection
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...
£45,000 - £55,000: Loren Hughes: Are you looking for a new opportunity that wi...
Circa £45,000-£50,000 + benefits: Sheridan Maine: Are you a newly qualified ac...
£150 - £190 Daily Rate: Sheridan Maine: One of London's leading water supplier...