Updates from Aberdeen Asset Management, BG Group and Carillion

Adrian Holliday
savings, tax, stockmarket, pensions, cash, investment FTSE 100
savings, tax, stockmarket, pensions, cash, investment FTSE 100

The FTSE 100 slipped just 0.8% of a point on Friday, finishing at 6,722.6. The biggest losers by some margin were oil players with BGGroup down a thumping 8.7% to 900.20p and TullowOil, hit again, slumping more than 8.3% to 426p. WeirGroup was also down hard, falling 4.2% to 1876p. In contrast, Carnival surged 4.5% to 2820p.

Over in the US the Dow Jones barely moved at 17,828.2 despite the retail push from Black Friday; the drag on oil prices helped keep sentiment earth-bound.

We start with new numbers fromAberdeen Asset Management for the year to 30 September. Net revenues climb 4% higher to £1,117.6 million (2013: £1,078.5 million) while underlying profit before tax is upped 2% to £490.3 million (2013: £482.7 million).

However there's a 4% decrease in underlying diluted earnings per share to 31.1p (2013: 32.5p); the final final dividend comes in at 11.25p per share (2013: 10.0p), making 18.0p for the full year (2013: 16.0p).

"The first half of the year was particularly demanding," acknowledged chief exec Martin Gilbert, "as investor sentiment turned sharply against emerging market economies. Recently, however, we have seen those concerns abate."

Investing For More Yield
Investing For More Yield


Next, oil and gas player BG Group - fresh from its Friday 9% slump in its share price - has announced "revisions" to the highly controversial remuneration package for new Chief Executive, Helge Lund.

The conditional share award will no longer be made says BG Group. Instead, Lund will be granted an initial award of shares under the Company's Long Term Incentive Plan (LTIP), with a face value equal to £10.6 million.

Some distance from a reported original offer of £25m plus. The changes mean that 62% of Lund's remuneration package in the first year will now be subject to quantitative performance criteria; he may not be able to sell his shares until he he leaves his post.

Finally, Carillion has agreed to buy a 60% stake in Rokstad Power, a Canadian family-owned transmission and distribution services player. Carillion says the deal boosts Carillion's skills and prospects in the area.

Based in British Columbia Rokstad has 600 employees and appears well positioned to meet the demand for electricity and need to rebuild ageing electric power infrastructure claims Carillion.

The total sum is £33 million, dependent on the financial performance of Rokstad. Carillion recently, along with Amey, bagged a £400m contract to run public sector prisons from 1 June 2015.

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