Homeserve 08/02/2012
Home maintenance and emergency repairs concern Homeserve has warned that its reduction in customer numbers is 3% higher than expected.
Banking software supplier Financial Objects has unveiled details of the tender offer that will see it return up to £6m of its near-£17m cash-pile to investors. The company is offering 50p per share, a 23% premium to their recent value, through adviser Hoare Govett. Investors have until 8 November to accept the offer, and are expected to receive their cash a week later. Chairman Roger Foster believes the move 'is the best way to return excess cash to our shareholders and demonstrates our confidence in the company's ability to generate cash'.
Market cap: £18.6m
PE Forecast: n/a
Share price: 45.5p
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Home maintenance and emergency repairs concern Homeserve has warned that its reduction in customer numbers is 3% higher than expected.
Performance materials specialist Low & Bonar (LWB) reported a 26% rise in profits amidst considerable growth in its yarns business.
A trading update from gas masks to dairy products specialist Avon Rubber (AVON) has confirmed that it is on track to meet current-year expectations, but it is likely to be second half loaded.