The Investment column: Securicor
Friday 18 June 1999
The shares fell 2p in early trading, but later added 6.5p to close at 556.5p. The market was braced for a poor contribution - pounds 26m as opposed to pounds 43m - from Cellnet following a recent presentation by BT.
The results marked another opportunity for the group to utter the usual array of platitudes about examining all options to enhance shareholder value when quizzed on the possible sale of the Cellnet stake.
More exciting is the progress in the core security, non-Cellnet communications and distribution divisions. The group has brought forward margin targets for the latter two after the security division hit them this year.
Meanwhile, the group said its distribution division's joint venture with Deutsche Post, established in March by the sale of 50 per cent of the division to the German group, had made more progress in three months than was expected in three years.
Analysts expect pounds 96m of post-exceptional pre-tax profits and earnings of 11.2p per share this year.
But, while Securicor's core business is looking impressive, until the Cellnet issue is resolved the shares are likely to remain volatile.
X Factor judge will appear in court later this month
The Google future, including microphones in every ceiling and data sent directly to your brain
Gurdwaras-turned-food banks: Sikh temples are catering for rise in Britain’s hungry
The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
N Korea confirms removal of Kim Jong-un’s 'depraved' uncle Jang Song Thaek
10 stone five-year-old taken into care
'I'm experiencing austerity as well', says Princess Michael of Kent
- 1 Gurdwaras-turned-food banks: Sikh temples are catering for rise in Britain’s hungry
- 2 Council bans use of word ‘Commie’ – but ‘fascist’ and ‘Nazi’ are fine
- 3 The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
- 4 Newly vegan Beyoncé wears fox fur to dine in meat free restaurant
- 5 'I'm experiencing austerity as well', says Princess Michael of Kent
- < Previous
- Next >
iJobs Money & Business
£44000 - £55000 per annum + Excellent Benefits: Pro-Recruitment Group: Confide...
£25000 - £35000 per annum + Benefits : Harrington Starr: PHP Symfony2 Framewor...
£40000 - £55000 per annum + Bonus and Benefits: Harrington Starr: A leading pr...
£50000 - £60000 per annum + Bonus + Benefits: Harrington Starr: Market Data An...