Hochschild to ramp up exploration

first_img Share Show Comments ▼ Hochschild to ramp up exploration Wednesday 18 August 2010 8:07 pm whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp KCS-content PRECIOUS metals miner Hochschild said it will focus on its exploration programme and on bringing new projects into production rather than on big acquisitions.The London-listed miner posted record revenue of $306.9m (£196.5m) for the six months to 30 June, up 33 per cent year-on-year. “We are taking a different approach regarding acquisitions to what we have taken historically,” chief executive Ignacio Bustamante said yesterday following the results. “We like to focus more on our exploration pipeline.”The Latin American-focused miner said bolt-on acquisitions are still part of its long-term strategy. “We will focus on our organic and internal growth rather than looking at opportunities in the market,” Bustamante said during his first results presentation since taking the helm in April.The focus on exploration comes amid heightened M&A activity in the mining sector. Bustamante said Hochschild, valued at about $1.7bn, has not received any approaches from larger mining groups.The mining group’s earnings rose sharply in the first half on higher silver and gold prices. Pre-tax profit tripled to $87.3m before exceptional items of $10.1m. Tags: NULLlast_img read more

Dublin will close Anglo to keep Eire in the black

first_img Share Dublin will close Anglo to keep Eire in the black whatsapp Ireland is still mulling whether to keep parts of Anglo Irish Bank open but stands ready to wind it down if that helps keep the country solvent, finance minister Brian Lenihan said yesterday. Earlier, the Irish Independent newspaper reported Lenihan would ask the European Commission to allow a closure of the troubled lender over a 10-year period and analysts say that scenario is looking increasingly likely.Science and technology junior minister Conor Lenihan said on Saturday the bank would be “decommissioned”, the latest signal that the government, conscious of its wafer-thin parliamentary majority, is set to cave in to growing pressure.Anglo Irish has submitted a plan to Brussels, favouring the option of carving out a small functioning bank via a “good bank/bad bank” split and Lenihan yesterday said this proposal was still on the table.“We have to evaluate that case,” Brian Lenihan said. “If what is best for the taxpayer and for the country – in terms of the risks to the country’s solvency – if the best option is a workout [wind-down] over an extended period of time, then so be it,” Lenihan told public radio RTE before flying to Brussels. The escalating cost of rescuing Anglo Irish is a major threat to Ireland’s creditworthiness, with analysts seeing it as the next potential Eurozone trouble spot after Greece despite much-vaunted efforts to cut public spending. Lenihan said however the costs would be manageable.“I was a bit concerned to see yesterday that a lot of public opinion believe that Anglo Irish Bank will bankrupt the country,” he said referring to a survey published at the weekend. “That’s simply not the case.”Lenihan also said he had completed treatment for cancer, stabilising the disease and allowing him to stay in his job in the run up to the next budget which he said would be presented on 7 December.At around 352 basis points (bps), the premium investors demand to hold 10-year Irish debt rather than benchmark German Bunds remains only about 20 bps below last week’s record highs, showing investors are still nervous. whatsapp Tags: NULL KCS-content Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan Monday 6 September 2010 8:27 pmlast_img read more

Redrow swings back into profit

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com John Dunne British housebuilder Redrow swung to full-year pretax profit, well ahead of analyst expectations, thanks to an overhaul of the business, higher selling prices and more home sales.The company reported a full-year pre-tax profit of £0.7m, against last year’s pre-tax loss from trading operations before exceptionals of £44.2m and a total pre-tax loss of £140.8m.Market expectations had ranged between a loss of £13.4m and £4.5m.Economic uncertainty from government spending cuts and tax increases have hit consumer confidence since the general election in May, denting house sales.“In volume terms Redrow has seen a small reduction in the number of reservations in the first ten weeks of our financial year,” Redrow’s chairman Steve Morgan said in a statement.Redrow said the average selling price in the period rose nine per cent to £149,300 while legal completions rose 22 per cent to 2,587 homes. whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comcenter_img Thursday 9 September 2010 3:53 am Share Show Comments ▼ whatsapp Redrow swings back into profit last_img read more

Booker in fruit and veg boost

first_img Share KCS-content Booker in fruit and veg boost Show Comments ▼ Thursday 16 September 2010 8:26 pm BRITAIN’S biggest cash and carry wholesaler Booker reported a six per cent rise in second-quarter sales, helped by the World Cup and sales of fresh fruit and vegetables.The group, which supplies over 300,000 caterers and retailers from 172 branches throughout Britain, said its outlook for the year as a whole remains unchanged. Analysts expect Booker to report a full-year pre-tax profit of £62.1m, up from £57.2m last year.For the 12 weeks to 10 September, like-for-like total sales rose by 5.9 per cent, with fruit and vegetable sales up 46 per cent.Chief executive Charles Wilson said: “During the last quarter sales were assisted by the benefits of the World Cup, a strong promotional programme and a good performance from Booker Direct.”The World Cup fuelled sales as football fans stocked up on refreshments for the games.The group, which has 172 branches across the UK, said plans to broaden the business, including booker.co.uk were pressing ahead while its operations in India are progressing well.As of 10 September 2010 net cash was £10.1m versus net debt of £4m a year ago. center_img whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tags: NULLlast_img read more

Governance Code gains support

first_img Sixty-eight institutions have published statements of support for the new UK Corporate Stewardship Code, including 48 asset managers, 12 asset owners and eight service providers. “A critical mass of investors is coming through and this is a very important first step,” said Financial Reporting Council chairman, Baroness Hogg. The Stewardship Code is being introduced to replace the UK’s corporate governance code and its principles will include external reviewing of boardroom procedures and regular elections for directors. As well as leading UK institutions, the Code has attracted the support of range of international investors, including Calpers. Business secretary Vince Cable is one of its cheerleaders. The Stewardship Code aims to promote more active discussion between company boards and investors. Governance Code gains support More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com Monday 18 October 2010 8:28 pm Tags: NULL Show Comments ▼ Sharecenter_img whatsapp KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timeslast_img read more

ANALYST VIEWS: HOW SERIOUS IS CARPETRIGHT’S FALL?

first_img whatsapp ANALYST VIEWS: HOW SERIOUS IS CARPETRIGHT’S FALL? KCS-content KEITH BOWMAN | HARGREAVES LANSDOWNDespite clear exposure to an eventual recovery, fears for a ‘double dip’ in the housing market continue to dominate, with the current market consensus opinion denoting an out and out ‘sell’.MATTHEW MCEACHRAN | SINGER CAPITAL MARKETSTypically October is a key month for the group as consumers look to replace carpets ahead of the Christmas period but low consumer confidence and mortgage approvals have hit trade.JOHNATHAN PRITCHARD | ORIEL SECURITIESHigh operational gearing will have a dramatic effect on forecasts if mortgage data continues to be negative, and the multiple offers no protection. Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldcenter_img Wednesday 27 October 2010 8:15 pm More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Share Tags: NULLlast_img read more

UK Coal output jumps but cuts full-year target

first_img whatsapp Britain’s biggest coal miner UK Coal posted a 22 per cent rise in production in the third quarter and said it remains on track to meet its full-year output guidance of around 6m tonnes for its deep mines.However, the company cut its estimate for surface mines production to about 1.5m tonnes, from 1.6m previously, due to a delay in the opening of Huntington Lane.It also said average prices received for its coal will be marginally below the previous expectation of around 2.00 pounds a gigajoule.“Overall, with quarter three showing a small operating profit, mining output starting to show more consistent performance, and our asset sales on track, we remain cautiously optimistic about the remainder of 2010 and 2011,” the company said in a statement to the London Stock Exchange yesterday.Net bank and other debt at the end of September was about $265m, up from $225m at the end of September 2009. It expects its debt to be reduced by the end of the year helped by positive operating profit in the fourth quarter and proceeds from the sale of surplus agricultural land. The group anticipates making an announcement shortly on its search for a new chairman. Thursday 28 October 2010 8:12 pm UK Coal output jumps but cuts full-year target Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content whatsapp Tags: NULL Share Show Comments ▼last_img read more

Ikea builds on dominance in key UK market

first_img Share whatsapp Sunday 31 October 2010 10:13 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ Ikea builds on dominance in key UK market KCS-content center_img whatsapp SWEDISH retailer Ikea has grown to become the home furnishings market leader after a tough year for the sector.The furniture group said like-for-like sales in the UK and Ireland have risen one per cent to £1.2bn in the year to 31st August.Ikea edged ahead with a six per cent market share at the end of 2009 despite the home market shrinking by 7.4 per cent, analysis by Verdict Consulting shows.Strong kitchen sales of 11 per cent year-on-year with a 1.4 per cent market share uplift, the biggest shift seen on the market for this period, contributed to the retailer’s success. Other areas that saw strong growth for the period include home storage, also up 11 per cent, as well as dining solutions, up nine per cent, and childrens products, up four per cent. The group said an £11m investment in its stores, including the addition of self scan check outs in 12 out of its 19 stores, also helped to boost sales.Ikea UK and Ireland’s country manager Martin Hansson said: “It has been another challenging year for us but despite the overall home furnishings market being in decline, we have delivered a small growth.“By staying close to our customers we have understood they are more conscious of price but do not want to compromise on quality, design or good service. We have focused on always offering the lowest priced products across each area of the home.”FAST FACTS | IKEA● Ingvar Kamprad founded the company in 1943 in Sweden aged 17 – the name includes his initials.● The retailer operates 280 stores in 26 countries with another 34 operated by franchisees, generating global turnover of €23.8bn (£20.6bn). Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndoGloriousaCouple Wins Lottery, 5 Years Later, Their House Had To Be DemolishedGloriousaUndo Tags: NULLlast_img read more

UK Coal unveils new head amid reshuffle of its board

first_img Britain’s biggest coal miner UK Coal appointed Jonson Cox as its new executive chairman yesterday, as part of the board restructuring it announced earlier this year.In July, UK Coal had said chief executive Jon Lloyd and non-executive chairman David Jones would leave the company, with the company splitting the responsibility for its coal and property operations. The firm also said it planned to appoint an executive chairman, who would be accountable for the managing directors of the two businesses, rather than being led by a non-executive chairman and CEO.Cox was chief executive of Anglian Water Group, a provider of water and wastewater services in the UK, for six years and will take over his new role from 15 November. He is currently also a non-executive director at British haulier Wincanton. KCS-content More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Wednesday 10 November 2010 7:28 pm Show Comments ▼ UK Coal unveils new head amid reshuffle of its board center_img Share whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution Tags: NULLlast_img read more

QinetiQ’s cost cutting helps boost results

first_img KCS-content QinetiQ’s cost cutting helps boost results DEFENCE firm QinetiQ saw its shares soar yesterday after it posted a 14 per cent rise in first-half profit on stronger sales and better cash generation. Sales at the defence technology firm’s global products business, which accounts for around a third of group revenue, grew 65 per cent, driven by demand for its Q-NET vehicle products to support operations in Afghanistan.QinetiQ reported underlying pre-tax profit of £51.6m for the six months to the end of September, on revenue seven per cent higher at £865m.Its shares, which had fallen more than a third this year after it lost a key Ministry of Defence training contract, closed up 13.6 per cent at 112.5p, valuing the floated portion of the firm at £647.5m.“The overall beat comes from the lumpy products business, mainly from the Q-Nets order which the market had underestimated,” Bank of America analyst Celine Fornaro said in a research note, adding the company’s 231 per cent cash conversion rate was a “key positive”.QinetiQ, which was spun off from the Ministry of Defence in 2001, said it had cut net debt a quarter to £327m over the past 12 months, adding cost cuts and self-help measures were starting to bear fruit. Share Thursday 18 November 2010 7:50 pm whatsapp Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ whatsapplast_img read more