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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Domestic & Gen. | DGG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1,420.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,420.00 |
| Top Posts |
|---|
Posted at 04/4/2006 15:15 by tole AD - You mean why it happenned? Have a read of the below regards takeover rumours.Domestic & General unveils higher FY profits, quashes takeover rumours UPDATE 31/05/2005 10:24 LONDON (AFX) Household appliance insurer Domestic & General Group PLC delivered stronger full-year profits, and quashed rumours of a takeover approach which fuelled a surge in the group's share price last month. The company, which provides warranties on some 5.7 mln domestic appliances in the UK and mainland Europe, said pretax profits before goodwill and exceptionals for the year to March 31 2005 came in at 29.0 mln stg, a 26.1 pct increase on the previous year. The group's pretax profits after goodwill, at 29.7 mln stg, were 22 pct ahead of a forecast from analysts at Altium Securities, who upgraded the shares to 'buy' from 'reduce'. The profits uplift partly reflected a jump in investment income, which rose to 11.1 mln stg from 10.9 mln stg a year earlier, fuelled by higher interest rates and stronger equity markets. Domestic & General also benefited from steady growth in warranty revenues and subdued claims expenses, which boosted warranty profits to 191 mln stg, a 38 pct increase on the previous year. Chairman Nicholas Rochez said in a statement that Domestic & General had received "no indication of any interest from any third party," scotching rumours of a takeover approach which caused a sharp rise in the group's share price last month. He blamed speculative trading through contracts for difference (CFDs), and said stock market rules should be changed so as to oblige investors who hold CFDs in a company to disclose their interest. "It is essential that companies are able to readily identify their shareholders. What is not acceptable, in a regime that demands transparency, is the unaccountability and, at best, opacity of such trading instruments," Rochez said. Domestic & General shares, which stood 1.23 pct higher at 740 pence by about 9.40 am on Tuesday, had briefly spiked above 900 pence as the takeover rumours emerged in late March and early April. The company said the new financial year had started well, adding that it expected to make further progress despite signs of a contraction in consumer spending. Chief executive John Pearmund said the group's strong focus on warranty renewals would enable it to weather any decline in purchases of new appliances as consumers tighten their belts. "We're perhaps not as affected as other businesses might be," he told AFX News. Pearmund added that the claims ratio -- claims expenses expressed as a proportion of premium income -- had fallen to 45-50 pct from 47-55 pct last year as the group stepped up its focus on electrical goods, which are less prone to breaking down. He said he expected claims to remain within the lower band for the rest of the current year. Domestic & General set a final dividend of 18.5 pence per share, taking the total payout to 27 pence, a 15 pct increase on the previous year. |
Posted at 05/1/2006 12:00 by momentos sign up, go to investors msg board & find the post on Level 2 free trial. L2 a bit weaker as someones slapped in a 25k sell order at 815. |
Posted at 02/12/2005 12:00 by momentos Investors Chronicle buy tip today - Good Value. 4% yield, Numis upgrade etc etc. |
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