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04 Mar 16. HP Enterprise’s revenue, profit beat estimates. Hewlett Packard Enterprise Co, which houses former Hewlett-Packard Co’s corporate hardware and services division, reported better-than-expected quarterly revenue and profit, helped by strength in its hardware business.
Hewlett Packard Enterprise’s (HPE) shares were up 6.4 percent at $14.47 in extended trading on Thursday.
Revenue in HPE’s enterprise group business, from which it derives more than half of its total revenue, rose about 1 percent to $7.1bn in the first quarter ended Jan. 31, from a year earlier. The company, which is headed by Margaret Whitman, also maintained its 2016 adjusted profit forecast of $1.85-$1.95 per share. Net earnings fell to $267m, or 15 cents per share, in the first quarter ended Jan. 31 from $547m, or 30 cents per share, a year earlier. After adjustments, the company earned 41 cents per share. The company’s revenue fell to $12.72bn from $13.05bin.
Analysts on average had expected earnings of 40 cents per share and revenue of $12.68bn. (Source: Reuters)
03 Mar 16. Betafence, the global perimeter security specialist, announces the acquisition of Hesco, a leader and innovator in the design and manufacture of rapidly deployable barrier systems. This acquisition underpins an acceleration of Betafence’s high security growth strategy, building on the recent acquisition of SecureUSA and the intellectual property rights agreement with Gibraltar US.
Hesco is recognized internationally as an iconic brand synonymous with force protection; securing assets and protecting people. It specializes in rapidly deployable perimeter protection, safe haven bunkers and ballistic resistant body armor for the defense, energy and law enforcement sectors, supplying customers including the U.S. Army, United Arab Emirates Land Forces, United Nations and U.K. Ministry of Defense.
Hesco will enhance the Betafence product portfolio, strengthen its integrated solutions approach and expand its global footprint, specifically in the US and the Middle East. Hesco has been an established partner of Betafence for a number of years and, following this transaction, will operate as a stand-alone subsidiary of Betafence, led by Michael Hughes. By integrating its perimeter security products with industry-leading technologies and project management services, Betafence delivers turnkey total perimeter solutions for critical infrastructure, protecting assets and operations. These solutions are designed to meet the demanding requirements of customers across the globe such as Aramco, Statoil, Pepco, Shell, NATO, NASA, US Department of Homeland Security, US Department of Defense and borders such as the frontier between the US and Mexico.
Michele Volpi, CEO of Betafence Group, commented: “We are delighted to acquire such a renowned business as Hesco. Today’s deal underpins Betafence’s accelerated international growth strategy to provide global protection solutions to secure assets and protect people. Hesco has an excellent track record with international customers in the Defense, Oil & Gas and Energy sectors, particularly in the US and the Middle East.
“Both Betafence and Hesco are dynamic players in a market facing a growing global need for comprehensive security solutions for critical assets. There is a significant opportunity for Betafence to address this demand and strengthen our position across the global High Security market, both organically and through further acquisitions.”
Michael Hughes, CEO of Hesco Group, said: “This is an exciting opportunity for Hesco. Our partnership with Betafence will enable us to accelerate Hesco’s development and we will immediately add significant value to Betafence’