Updates from InterContinental Hotels, Manroy and Interserve
Overnight, Asian stocks returned most of the gains made earlier today in some volatile trading; Japan's Nikkei finished +0.2% higher.
A quiet day for big names. AIM quoted UK gun maker Manroy has released half year results for the six months up to 31 March 2012. Revenues climb to £3.4m compared to £3.0m for the previous post acquisition period to 31 March 2011. There is a pre-tax loss of £1.1m against pre-tax profit of £1.1m in the previous comparable period, Manroy says.
Results for the period, says Manroy chairman Andrew Blurton, have "been adversely affected by the delay in receipt of a major contract and, as we announced in April 2012, the out-turn for the full year will be below original expectations because of this delay. However, as a result, we anticipate that the 2012-13 financial year will be enhanced as the Group begins to fulfill these delayed orders."
Next, construction support player Interserve claims it has reached financial close with West Yorkshire Police Authority and West Yorkshire Police on the contract to design, build, finance and operate two new divisional headquarters (DHQs), custody suites and a specialist operational training facility.
"These police facilities," says Interserve chief exec Adrian Ringrose, "represent a key element of regional infrastructure, so we're obviously proud the Authority has entrusted Interserve with creating and supporting them. We're already heavily involved in the region, having worked here for many years."
Finally, InterContinental Hotels has confirmed chairman David Webster will retire at the end of 2012. Patrick Cescau will replace Webster. Cescau was Group Chief Executive of Unilever from 2005 to 2008 as well as Finance Director and CEO of the Foods Division.
"I'm excited," said Cescau, "to be joining the IHG Board in January of next year and working with Richard Solomons on the next phase of growth for this fantastic company following the well-charted course set by my predecessor."
"My fellow Board members and I look forward to guiding IHG to even greater achievements as we focus on brand building and the strategic global expansion of the business in the near term and future."