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.
World's most lethal spider found under a bunch of bananas
Rumours that the star wants to move on to pastures new
TV presenter Fiona Bruce seemed a bit startled by the find during the filming of Antiques Roadshow
Comedian says he 'never laughed as hard as I have writing with Rik'
- 1 Sick elderly man makes 'complete turnaround' after emotional reunion with dog
- 2 Star Wars memorabilia dubbed 'bit of plastic' by Antiques Roadshow's Fiona Bruce valued at £50,000
- 3 Isis fighters 'crucify' 17-year-old boy in Syria
- 4 Ebola cruise ship ‘in utter panic’ as Mexico and Belize refuse to let it dock
- 5 Death of northern white rhino leaves just six of endangered animals left in the world
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Sorry Judy Finnigan – Ched Evans is no less sickening than an alleyway rapist
Residents should throw a street party and mix with immigrant neighbours, councils told
Workers 'could be forced to pay £5 a week' to get benefits
Russell Brand threatened with arrest after filming outside Fox News headquarters
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
iJobs Money & Business
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...
£50000 - £55000 per annum + bonus + benefits: Ashdown Group: IT Relationship M...
Highly Attractive Salary : Austen Lloyd: NOTTINGHAM - BRILLIANT FIRM - You wil...