Utilities & Clean technology Correspondent, London
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Jan 13, 2011

Lavendon rejects 189 million pound joint bid

BANGALORE (Reuters) – Rental-equipment firm Lavendon Group (LVD.L: Quote, Profile, Research) rejected a 189 million pound joint bid from Belgium’s TVH Services and UK’s Ashtead (AHT.L: Quote, Profile, Research), saying the sweetened offer still undervalued it.

Ashtead and TVH had offered to buy Lavendon for 115 pence a share, a slight discount to Lavendon’s Wednesday close, but a premium of more than 45 percent since TVH made its 111 pence a share offer public in early December.

Jan 13, 2011

Lavendon rejects 189 mln stg joint bid

BANGALORE, Jan 13 (Reuters) – British rental-equipment firm
Lavendon Group (LVD.L: Quote, Profile, Research, Stock Buzz) rejected a 189 million pound joint bid
from Belgium’s TVH Services and UK’s Ashtead (AHT.L: Quote, Profile, Research, Stock Buzz), saying
the sweetened offer still undervalued it.

Ashtead and TVH had offered to buy Lavendon for 115 pence a
share, a slight discount to Lavendon’s Wednesday close, but a
premium of more than 45 percent since TVH made its 111 pence a
share offer public in early December.

Jan 11, 2011

Interserve sees stable 2011 on strong orders, margins

BANGALORE, Jan 11 (Reuters) – British maintenance and
outsourcing firm Interserve (IRV.L: Quote, Profile, Research, Stock Buzz)said it expected a stable
2011 on a strong order book and better margins, sending its
shares up 6.6 percent.

“The consensus that is emerging for 2011 is very much
stable in terms of revenue, which should be somewhere around
the 1.8-1.9 billion pounds level,” Chief Executive Adrian
Ringrose told Reuters.

Dec 9, 2010

Premier Farnell shares fall on outlook concerns

BANGALORE, Dec 9 (Reuters) – Premier Farnell’s (PFL.L: Quote, Profile, Research, Stock Buzz)
third-quarter profit jumped 70 percent on strong sales in
developing markets, but shares in the British electronic
components distributor fell 7 percent after it disappointed
investors looking for an earnings upgrade.

Credit Suisse analysts said in a note that while the
quarterly results were strong, this was the first time in a
year that “a quarterly update won’t lead to earnings upgrades.”

Dec 7, 2010

H’builder Bellway sees H1 profit rise on higher prices

BANGALORE, Dec 7 (Reuters) – British homebuilder Bellway
(BWY.L: Quote, Profile, Research, Stock Buzz) expects first-half profit to rise up to 20 percent as
it sells houses in more expensive parts of the country, and
said average prices would continue to rise in the second half.

Bellway shares were up 7.2 percent at 598 pence at 1042 GMT
on Tuesday on the London Stock Exchange.

Nov 30, 2010

Hogg Robinson sees better FY as travel demand improves

BANGALORE, Nov 30 (Reuters) – British corporate travel firm
Hogg Robinson Group Plc’s (HRG.L: Quote, Profile, Research, Stock Buzz) first-half profit more than
doubled and it said full-year results would race past market
estimates on expectations that an improving economy will
continue to bolster travel activity.

“Revenue is up, cash flow is strong, and there are
increasing signs that our client base is retuning to higher
levels of travel frequency,” Finance Director Julian Steadman
told Reuters.

Nov 23, 2010

DryShips shares down after co gets drillships options

BANGALORE, Nov 23 (Reuters) – Days after signaling a
turnaround in its drilling segment, DryShips Inc (DRYS.O: Quote, Profile, Research, Stock Buzz)
secured options to build four new rigs, but shares of the Greek
company slipped on concerns that financing for the expensive
drillships could be hard to come by.

DryShips started out as a drybulk shipper before foraying
into the drilling business in 2008, a move that pressured its
finances as the company struggled to win contracts and garner
funds to build two rigs.

Nov 19, 2010

Rino Int’l auditors find accounting flaws

BANGALORE, Nov 19 (Reuters) – Chinese clean-technology firm
Rino International Corp (RINO.O: Quote, Profile, Research, Stock Buzz) said its auditors had found
problems with its accounting and it authorized the hiring of an
external law firm to conduct an independent investigation.

Rino’s auditors said the company’s Chief Executive Zou
Dejunas had admitted that Rino did not enter two of the six
contracts it reported revenue from for two years, according to
a filing with U.S. securities regulators.

Nov 18, 2010

Walter Energy in $3.2 billion bid to tap Asia coal demand

BANGALORE (Reuters) – U.S.-based Walter Energy Inc (WLT.N: Quote, Profile, Research, Stock Buzz) is in talks to buy Canadian peer Western Coal Corp (WTN.TO: Quote, Profile, Research, Stock Buzz) for $3.24 billion to form a steelmaking coal giant aimed at exploiting surging Asian demand.

China’s steel production is seen rising by a tenth this year to 620-630 million tons, driving strong demand for steelmaking, or metallurgical, coal.

Nov 11, 2010

Marine fuel firm Aegean’s shares sink on weak results

BANGALORE, Nov 11 (Reuters) – Investors wiped out over a
third of the market value of Greek Marine fuel logistics
company Aegean Marine Petroleum Network (ANW.N: Quote, Profile, Research, Stock Buzz) on Thursday, a
day after the company posted weak quarterly results.

Piraeus, Greece-based Aegean reported a third-quarter
adjusted profit of 16 cents a share, less than half of
analysts’ view. Analysts were expecting 35 cents a share.
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    • About Adveith

      "I moved to Reuters' London bureau in February to cover green technology and UK utilities after a stint in Bangalore. In four years with Reuters, I have covered some of the biggest utilities and clean technology companies in the United States and Britain, from bureaus in London, Bangalore and, briefly, New York. I have also been a key part of two of the company’s biggest headline news operations – in Bangalore and London - since 2008, sending fast news alerts on the biggest companies on both sides of the Atlantic. I enjoy writing about sports, and occasionally contribute to Reuters' sports blog, ..."
      Joined Reuters:
      May 2008
      Languages:
      English, Hindi, Malayalam
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