Cook ups profit and dividend forecasts
Monday 20 January 1997
The defending company said that in the year to March its profit would be "not less than pounds 11m" before tax, on the strength of recent strong trading and improving order books. The dividend forecast was also raised to 13p for the full year.
The bid from Triplex is at 309p against Friday's close of 370p, and the City is convinced that Triplex will have to decide later this week whether to bid again at well above 400p or withdraw.
William Cook's shares have been tightly held and not widely traded, with eight institutions owning 60 per cent and family members owning another 7.5 per cent.
William Cook has claimed that this illiquid market in the shares has depressed the market price. This has not reflected the full value of the company, whose rating is low compared with the rest of the sector.
Andrew Cook, chairman, said there were further new orders on the cards as rail companies bought new rolling stock to fulfil franchise commitments, and he urged investors to reject the Triplex bid.
The figures were dismissed as an "immaterial increase" by Triplex Lloyd, which said the latest forecast dividend was still below the level paid in 1991.
- 1 Windows 10: man updates PC, wakes up to find porn slideshow on repeat
- 2 The 'world's most beautiful vagina' has been debunked by science
- 3 John Green schools morning show hosts after awkward interview with Cara Delevingne
- 4 Bulletproof armadillo puts Texas man in hospital after shot bounces off hard shell
- 5 Doctors declare war on Jeremy Hunt over weekend working 'myths' amid plan for seven day NHS
Osama bin Laden's family members killed in plane crash at Hampshire's Blackbushe Airport
Whoopi Goldberg tells Cara Delevingne to suck it up: 'She's not famous. I'M famous'
John Green schools morning show hosts after awkward interview with Cara Delevingne
'Rowdy' Roddy Piper dies: Wrestling legend dies aged 61, according to reports
Great white shark thwarts man's attempt to become first person to swim from Golden Gate Bridge to Farallon Islands
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Labour leadership contender Jeremy Corbyn says 'we can learn a great deal from Karl Marx'
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Public anger after French sunbather beaten up by gang for wearing a bikini in Reims park
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: This is an exciting opportunity...
£13000 - £15000 per annum: Recruitment Genius: Are you passionate about custom...
£22000 - £25000 per annum: Recruitment Genius: Main purpose: Under the directi...
£35000 - £37000 per annum + benefits : Ashdown Group: Contracts Manager - City...