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24/01/2002
M&S considers cash windfall for shareholders
High street retailers Marks & Spencer could be about to reward its shareholders with a £2 billion cash windfall that could see each investor compensated by around 70p per share.
Money for the cashback scheme has already been raised from the sell-off of both property and subsidiaries owned by M&S, which could see shareholders issued with a new range of options. For every 21 ordinary shares each investor owns, they will be allocated 17 ordinary shares and 21 new ‘B’ shares, which they will then be able to cash in for 70p each from March 25.
The scheme – which has yet to receive the approval of shareholders – will be put to the vote on February 28, but it has already been hailed as a positive move by most analysts.
While the company has suffered a rough ride in recent years, with both consumer confidence and profits dropping sharply during the late 1990s, signs are pointing towards a revival of the firm’s fortunes.
In addition to 8.3 per cent increase in sales over Christmas 2001, M&S shares have been the best performing in the FTSE 100 and look likely to continue their ascent throughout the year ahead. (CL)
Money for the cashback scheme has already been raised from the sell-off of both property and subsidiaries owned by M&S, which could see shareholders issued with a new range of options. For every 21 ordinary shares each investor owns, they will be allocated 17 ordinary shares and 21 new ‘B’ shares, which they will then be able to cash in for 70p each from March 25.
The scheme – which has yet to receive the approval of shareholders – will be put to the vote on February 28, but it has already been hailed as a positive move by most analysts.
While the company has suffered a rough ride in recent years, with both consumer confidence and profits dropping sharply during the late 1990s, signs are pointing towards a revival of the firm’s fortunes.
In addition to 8.3 per cent increase in sales over Christmas 2001, M&S shares have been the best performing in the FTSE 100 and look likely to continue their ascent throughout the year ahead. (CL)
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Profits edge up though M&S recovery 'falters'
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Marks & Spencer profits have shown a slight rise, but the company has conceded that the anticipated turnaround by the group has faltered. Pre-tax profits were up by 0.5% to £763.2 million, which was a little better than analysts had been forecasting for the retail chain group.
02 February 2004
ITV shares begin trading on London Stock Exchange
ITV plc, the company formed on the merger of Carlton and Granada, has launched its shares on the London Stock Exchange. All dealing in Carlton and Granada shares concluded on Friday's close, while ITV plc shares opened at 141 pence, reaching 146.25p by 4pm.
ITV shares begin trading on London Stock Exchange
ITV plc, the company formed on the merger of Carlton and Granada, has launched its shares on the London Stock Exchange. All dealing in Carlton and Granada shares concluded on Friday's close, while ITV plc shares opened at 141 pence, reaching 146.25p by 4pm.
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Abbey board agrees to £8.5bn takeover deal
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26 October 2004
'Strong trading environment' fuels huge BP profits surge
Oil giant BP, in a climate of spiralling prices, have posted a massive profits surge of $1.2 billion to top almost $4 billion for the third quarter. BP saw net profits rise by 43% to £3.9 billion for the quarter, bringing the company a total mark of $12.5 billion so far this financial year.
'Strong trading environment' fuels huge BP profits surge
Oil giant BP, in a climate of spiralling prices, have posted a massive profits surge of $1.2 billion to top almost $4 billion for the third quarter. BP saw net profits rise by 43% to £3.9 billion for the quarter, bringing the company a total mark of $12.5 billion so far this financial year.
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