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BUSINESS NEWS12Jul07

12 Jun 07. Fujitsu Services posts record financial results. David Courtley, chief executive, commented: “The last year has been a great success for the company. We’ve progressed our European expansion ambitions and we’ve driven significant organic growth through our major clients such as HM Government and the Financial Services Authority in the UK, KLM in Holland and Servicio Andaluz de Salud in Spain. All in all our order book has increased to £6.6bn – a figure that will support our 2007/08 plans and ensures we can continue on our current strong revenue growth path.”
Highlights 2006/07¹:
Revenue and profit have grown steadily
Secured significant orders across all sectors and geographies
Order book is at a record high of £6.6bn
Investment in industrialisation of services is playing a key part in new contract wins
Financial Performance 2006/07:
Profit before tax has increased by 11.5 per cent to £172.0m, over the level originally reported for 2005/6, before the restatement for IFRIC 42²
Total revenue has grown by 7.5 per cent to £2,465.2 million, over the level
originally reported for 2005/6, before the restatement for IFRIC 42²
Total equity has increased by 83 per cent

10 Jul 07. Cohort plc, the independent defence technical services group, today announces its preliminary results for the 12 months ended 30 April 2007. Highlights include: 2007/2006
* Group turnover: £34.4m/£17.8m
* Group operating profit*:£3.0m/£1.8m
* Group profit before tax: £2.5m/£1.4m
* Year-end cash balance: £5.0m/£5.6m
* Normalised earnings per share**: 9.0 pence/6.8 pence
* Proposed final dividend per share: 0.9 pence/0.4 pence
* Excluding goodwill amortisation and share-based payments. **Excludes exceptional items (net of tax), goodwill amortisation and share-based payments.
Commenting on the results, Nick Prest CBE, Chairman of Cohort plc said: “Cohort has achieved its financial and strategic objectives for the year. Our first acquisition, MASS Consultants Limited has exceeded expectations, whilst SCS grew strongly. We continue to seek complementary acquisitions, whilst organically growing the existing businesses. Overall the Board is positive about the outlook.”

12 Jul 07. Motorola issues profits warning. Analysts say Motorola needs a better range of phones. Motorola has warned that it will make a loss for the past three months, blaming weak mobile sales in Asia and Europe. The US-based firm added that its main mobile phone business was likely to make a loss for the whole of 2007. The twin profit warnings have increased speculation that the firm’s chief executive Ed Zander might step down soon, analysts say. (Source: BBC)

09 Jul 07. Ford has told potential bidders for Jaguar and Land Rover they have until 19 July to submit indicative bids for the two British car brands, people familiar with Ford’s plans to sell the businesses are reported to have said. (Source: just-auto.com editorial team)

07 Jul 07. BAE Systems PLC said IFS Defence Ltd, its joint venture with IFS AB of Sweden, has bought naval maintenance management services provider Information Science Consultants Ltd (iSC) for an undisclosed sum.iSC generated an EBIT of £0.5m for the year to end September on revenue of £2.4ml, the defence and aerospace company said in a statement. (Source: Google)

09 Jul 07. Diversified industrial-manufacturing firm Sequa Corp. said Monday it has agreed to be bought by The Carlyle Group for $2.7bn. Under terms of the agreement, Carlyle will acquire all the outstanding Class A and Class B shares of Sequa for $175.00 per share in cash. That’s a premium of 54% to the closing prices of Sequa’s Class-A and Class-B shares on July 6.

05 Jul 07. The Carlyle Group announced today that it has reached a definitive agreement to acquire ARINC Incorporated from its current shareholders, including several prominent commercial airlines. The transaction is expected to close in the third quarter of 2007 subject to regulatory approval

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