LONDON (Reuters) – G4S (GFS.L: Quote, Profile, Research, Stock Buzz), the world’s largest security services firm, raised 348 million pounds ($541 million) through a share sale with more to come from asset disposals as its new boss seeks to cut debt and focus on emerging markets growth.
Chief Executive Ashley Almanza, a former executive at oil and gas firm BG Group (BG.L: Quote, Profile, Research, Stock Buzz), was promoted from finance chief in June after a string of blunders by his predecessor Nick Buckles, including a failed takeover bid in 2011, a botched contract to staff the 2012 Olympics and a profit warning in May.
LONDON, Aug 28 (Reuters) – G4S, the world’s largest
security services firm, plans to raise about 600 million pounds
($932 million) by selling shares and assets as its new boss
seeks to restore its battered reputation by cutting debt and
focusing on emerging markets.
Chief Executive Ashley Almanza, a former executive at oil
and gas firm BG Group, was promoted from finance chief in
June after a string of blunders by his predecessor, including a
failed takeover bid in 2011, a botched contract to staff the
2012 Olympic Games and a profit warning in May.
LONDON (Reuters) – The new boss of G4S (GFS.L: Quote, Profile, Research) faces a major test next week, when interim results give him an opportunity to improve the reputation and finances of the world’s biggest security company following a series of blunders.
Gaffes including last year’s last-minute failure to provide thousands of security guards for the London Olympics have complicated the company’s efforts to win outsourcing contracts, especially in the UK, its home market.
LONDON, Aug 8 (Reuters) – Tesco, the world’s number
three retailer, is hoping the allure of casual dining, coffees
and even yoga will help tempt Britons back to its retail park
stores as part of a 1 billion pound ($1.55 billion) push to
Like other retailers, Tesco, which makes about two-thirds of
its revenue in Britain, has seen online shopping, rising petrol
prices and weak consumer spending curb the need for its largest
stores and their big ticket items, with supermarkets now betting
more heavily on online and smaller local convenience stores.
LONDON, Aug 6 (Reuters) – InterContinental Hotels Group
, the world’s biggest hotelier, posted a big rise in
first-half profits on the back of strong demand in the United
States and said it would return $350 million to shareholders via
a special dividend.
IHG, which operates 4,600 hotels globally and is home to the
Crowne Plaza, Holiday Inn and InterContinental brands, added to
recent upbeat comments from rivals Starwood and Marriott
International on high U.S. demand, which is helping
offset tougher trading conditions in Europe and Greater China.
LONDON (Reuters) – After three aborted privatization attempts in 19 years, Britain’s Royal Mail postal service looks closer than ever to a sale that would end almost five centuries of ties to the state.
But the centre-right coalition government must first convince investors, nervous lawmakers and a heavily unionized workforce still opposed to private ownership.
LONDON, July 31 (Reuters) – British American Tobacco
said it would move rapidly to expand its presence in
the electronic cigarette market around the world after launching
its first product in Britain earlier this week.
The world’s No.2 cigarette maker, whose premium brands
include Kent, Dunhill, Lucky Strike and Pall Mall, launched
online sales of ‘Vype’ on Monday, becoming the first major
tobacco firm to offer e-cigarettes in Britain.
LONDON, July 30 (Reuters) – Britain’s Domino’s Pizza
has slowed expansion plans for its fledgling German business, as
higher wage and training costs there meant the unit would break
even as much as two years later than forecast.
Shares in Britain’s biggest pizza delivery firm dropped 7.4
percent to 555.5 pence at 0828 GMT, leading the fallers on the
FTSE 250 index of mid-sized companies and carrying the stock to
a near four-month low.
LONDON (Reuters) – Reckitt Benckiser’s (RB.L: Quote, Profile, Research, Stock Buzz) focus on health and hygiene products is paying off, the consumer goods group said on Monday, as demand for brands such as Durex condoms and Dettol disinfectants helped it to nudge up its annual sales forecast.
The British firm, which also makes Cillit Bang cleaners and Finish dishwasher tablets, has been concentrating on high-margin health and hygiene products to take advantage of ageing Western populations and rising incomes in emerging markets.
LONDON, July 24 (Reuters) – Britain’s JD Wetherspoon
nudged up its profit guidance and said it would accelerate new
pub openings next year thanks to a recovery in margins and a
more upbeat mood among customers.
The company’s 800 pubs have helped cash-strapped consumers
ride out the downturn with promotions like curry clubs and ‘beer
and a burger’ bargains. Having planned to open 20-25 sites in
the next fiscal year, 2013/14, it said on Wednesday it was now
aiming for 30.