Carlsberg ups target as key markets rise
Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndo Share whatsapp Tags: NULL CARLSBERG yesterday lifted its target for profits growth after reporting a 30 per cent rise in second-quarter profits and winning a bigger proportion of some of its main markets.The group said it expected net profits to surge an estimated 40 per cent this year – double the 20 per cent previously forecast.Carlsberg, which acquired Scottish & Newcastle in partnership with Heineken in 2008, said currency movements and market growth in Asia drove the upgrade.There was also growth in the UK where its market share in the first six months rose to 16.2 per cent, with improvement seen in both pubs and off-licences.Overall half-year operating profits rose by 12 per cent to 5bn Danish kronor (£550m). And pre-tax profits rose to 3.95bn kronor from 3.025bn kronor in the same period a year ago.Chief executive Jorgen Buhl Rasmussen said: “The group’s performance was strong for the first six months in spite of challenging consumer dynamics.”The improved outlook was helped by a recovery in demand in Russia – one of the firm’s key markets. The company said beer volumes fell in the first half due to significant price increases in Russia as a result of higher taxes.However, the drop was smaller than expected, Carlsberg said. Tuesday 17 August 2010 7:42 pm Show Comments ▼
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whatsapp HP Billiton’s $39bn (£25bn) battle to take control of Canada’s Potash Corp is expected to drag on into next year after it failed to win immediate backing from Canadian authorities.The Anglo-Australian miner, which wants to use the world’s largest fertiliser-maker as its entry into the global food industry, also said it had no plan to change its $130-a-share offer and shrugged off talk of a China-backed rival bid emerging.Potash said an extension of BHP’s offer by a month to 18 November did not change its position and again urged its shareholders to reject the “wholly inadequate” offer.The offer was extended after Canada’s competition regulator sought more information. However, investors said on Tuesday the delay was expected and could work in the miner’s favour unless a serious rival offer comes up.“There was always the impression it was going to be a long-winded process and at this point in time we have not had any competing bids yet,” said Peter Chilton, an analyst at Constellation Capital Management, which owns BHP shares.“To some extent the longer it drags on, it might be better for BHP because it reduces the tension, although if someone else comes in like the Chinese it is another game.”A source familiar with the transaction did not rule out further extensions to the offer period if they were necessary to clear regulatory hurdles. There have been indications from some BHP executives that the deal could drag out as far as Easter.A company with a takeover offer on the table, however, does not want the proposal to sit for too long, as it not only lengthens the time for a rival bid to emerge but also invites added regulatory red tape and shareholder fatigue. Tuesday 21 September 2010 3:13 am whatsapp Tags: NULL Show Comments ▼
Share More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org BHP Billiton’s Potash bid stalled by Canadian authorities 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 John Dunne 
whatsapp Wednesday 22 September 2010 7:42 pm whatsapp KCS-content Yield on Portuguese bonds at record high Show Comments ▼ 
INVESTORS buying Portuguese debt demanded record high yields yesterday, forcing the Eurozone country to scale back the amount of money it wanted to borrow from the bond markets. Portugal’s debt agency raised €750m (£640m) in a government bond auction, falling shy of the €1bn it had initially hoped to raise.The Public Debt Agency sold €300m in 10-year bonds and €450m in four-year bonds to investors, who were only willing to take a punt on the highly-indebted economy in exchange for sky-high yields.Lisbon paid 6.24 per cent to holders of its 10-year bonds and 4.69 per cent to holders of the four year-bonds. In its last auction, Portugal paid 5.32 per cent on 10-year bonds and 3.62 per cent on four-year bonds.The yield on 10 year bonds – some four per cent higher than German bunds – soared to its highest in a decade and was equivalent to the amount Portugal would have to pay to borrow from the European Financial Stability Fund. It is thought that Portugal’s debt managers scaled back their ambitions because of the high yields demanded by investors.Investors are growing increasingly uncertain over Portugal’s ability to tackle its growing debt pile, as it struggles to slash its budget deficit from 9.4 per cent of GDP to 7.3 per cent. “As opposed to the situation in other highly indebted Eurozone economies, the latest figures show Portugal’s deficit widening. On top of this, economic activity is expected to decelerate during the second half of 2010, following a better than expected first semester,” said IHS Global Insight senior economist Diego Iscaro.Portugal is seen as one of the problem countries in the 16-member Eurozone. It is joined in the uneviable “PIGS” category by Ireland, Greece and Spain. The news came shortly after Ireland turned to the debt markets to raise €1.5bn. Share 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 ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity 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.com More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller 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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Tags: NULL
Thursday 14 October 2010 9:19 pm Opec resolves to keep its production targets unchanged Show Comments ▼ whatsapp whatsapp Tags: NULL Share OPEC yesterday kept intact a supply policy that has served it well for nearly two years and set aside concern a weak dollar could drive the oil price too high for a fragile world economy.Ecuador, which holds the rotating presidency of the Organisation of the Petroleum Exporting Countries, confirmed the no-change decision and said the group’s next conference would be in Quito on 11 December.Earlier an Opec delegate said the ministers had been “100 per cent” in agreement there was no need to change policy. Oil prices did not react to the widely-expected Opec news, but held above $83 a barrel, drawing support from a weak dollar, which has stoked buying across commodities.Although slightly above the $70-$80 price range, which top exporter Saudi Arabia has said is ideal for producers and consumers, the kingdom’s oil minister said he was still happy with the market.“The biggest challenge we have is to keep the oil market as it is today,” Saudi Arabian Oil Minister Ali al-Naimi said. He declined to be drawn on a price level that might endanger economic recovery, but said producers were concerned about a possible slide back into recession. “I hope we don’t have a double dip. Everybody is working very hard to avoid it.”The oil market has gained momentum as heightened expectation of more quantitative easing to stimulate the US economy has weakened the US dollar. So far oil’s gains have been relatively modest as the dollar impact on oil has been countered by weak market fundamentals. Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More KCS-content More From Our Partners Biden 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo
Sunday 31 October 2010 11:19 pm BETFAIR’S chief executive warned in an interview yesterday the online gambling website could leave the UK over a row with the British Horseracing Authority (BHA) over the horse racing levy.David Yu told a Sunday newspaper the online gambling exchange, which listed on the London Stock Exchange last week, was “happy to be licensed and to pay sensible tax but if we don’t see movement we’d have to consider what’s right for the business over the long term.”Last month, City A.M. reported that Betfair had made a contingency plan that could see it move its operations offshore to avoid paying the levy if the government did not improve the regulatory regime for the industry. In the last couple of months two of Betfair’s biggest rivals, William Hill and Ladbrokes, have moved their online operations offshore where the horseracing levy doesn’t apply and where the gross profits tax, currently levied at 15 per cent, that all gambling firms are required to pay is also much lower. Betfair has said it feels it is being unfairly singled out by the BHA. The deadline for a decision on the size of the levy for the next year passed yesterday. whatsapp Betfair boss ups the ante by making UK quit threat public by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoverySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com
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Monday 22 November 2010 6:48 am Share KCS-content 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute IRELAND SURRENDERS Show Comments ▼ whatsapp whatsapp Tags: NULL IRELAND finally succumbed to pressure and gave up its fiscal sovereignty yesterday, with the government announcing that it had applied for an aid package to bail out the public finances and the country’s ailing banking sector.Irish Prime Minister Brian Cowen would not give a figure for the bailout amount but finance minister Brian Lenihan told RTE news that it “would not be three figures” but would be in the “tens of billions”. Independent estimates for the amount range from €60bn to €120bn (£52bn-£104bn), with the money to be loaned at less than market rates.Britain is reportedly to stump up €7bn – though it is not clear whether this will be a bilateral loan or whether it will go through the European Financial Stabilisation Mechanism. The other sources of cash will be the Eurozone member countries and the International Monetary Fund, with Sweden also having offered money.As a condition of the bailout, the Irish government will be subject to regular reviews to make sure that it is on track in tackling its deficit.The Irish government is due to publish a four-year-plan this week to bring its 11 per cent deficit (32 per cent counting the state’s guarantee of Irish bank loans) down to three per cent by 2014. It has said that this will involve savings of €6bn this year and €15bn overall, with most to be absorbed by spending cuts and tax rises on a two-to-one ratio. However, Ireland will now have to negotiate the details of its deficit programme with its new creditors. Other Eurozone leaders want to bring the country’s low corporation tax of 12.5 per cent into line with their own higher rates, but the Irish government has called that issue “non-negotiable”. EU finance ministers yesterday released a joint statement declaring that “financial support will be provided under a strong policy programme which will be negotiated with the Irish authorities.”The IMF and EU could demand that Irish banks increase their core capital ratios from current levels of eight per cent. Allied Irish Bank revealed on Friday that it has been haemorrhaging cash, with €13bn worth of deposits – mostly from businesses – withdrawn since June. With Bank of Ireland also seeing outflows of €10bn in the third quarter of this year, there were growing fears of a run on Irish banks. As part of the bailout, the banks’ financing package will include a restructuring that Cowen said would “downsize and make sustainable” the Irish financial system, although he would not give any further details.In the UK, Chancellor George Osborne’s offer of help to Ireland has sparked discontent on the Tory backbenches, with John Redwood MP saying that the UK cannot afford to make loans worth billions: “The public will find it difficult to understand why certain items are being cut that matter to them, if the money being spent on EU contributions and euro support keeps soaring,” he wrote on his blog. 
Friday 3 December 2010 6:38 am whatsapp EU raids AstraZeneca and other pharma companies whatsapp Show Comments ▼ Share
EU antitrust regulators have raided the offices of some pharmaceutical companies, including AstraZeneca, suspected of colluding to block the market entry of cheaper generic drugs.The European Commission, which acts as the competition watchdog of the 27-nation European Union, said on Friday the raids – the latest in a series targeting improper activities in the sector – took place on Nov. 30 in several EU countries.It did not name the companies involved, but Anglo-Swedish AstraZeneca confirmed its premises had been raided and the probe involved its best-selling heartburn and anti-ulcer drug Nexium.Bayer, GlaxoSmithKline, Sanofi-Aventis, Pfizer, Novo Nordisk and Lundbeck said they were not affected.French privately owned drugmaker Servier, which has been involved in previous EU investigations, also said it was unaffected by the latest raids.“The Commission has reason to believe that the companies concerned may have acted individually or jointly, notably to delay generic entry for a particular medicine,” it said in a statement.The inspections were a preliminary step in suspected anti-competitive practices, it added.“If confirmed, this could be a potential violation of EU antitrust rules that prohibit restrictive business practices,” the Commission said.For AstraZeneca, the investigation into Nexium marks the latest brush with competition authorities in Brussels, who have targeted the company before.In 2005, the Commission ruled AstraZeneca had breached EU rules by blocking or delaying market access to generic versions of another anti-ulcer drug called Losec, the predecessor to Nexium, between 1993 and 2000.The company was fined €60m (£50.6m) in the Losec case, although this was later reduced to €52.5m.“I can confirm that we have been the subject of inspections and that we are cooperating with the authorities,” an AstraZeneca spokeswoman said, adding the inspections related “to alleged practices regarding Nexium in Europe”.The patent protection on Nexium has expired in a number of EU countries but generic competition so far has been limited. Several generic drugmakers launched cheap copies of Nexium in Germany two months ago and AstraZeneca said in October a generic had also gone on sale in Spain.Nexium was AstraZeneca’s biggest-selling drug in 2009, with global sales of $5bn, although its importance is declining. It was eclipsed this year by cholesterol fighter Crestor, which is now AstraZeneca’s most important product.The European Commission said in October that it planned to review drug patent settlements struck by pharmaceutical firms to delay cheaper generics going to market, as part of its crackdown on illegal deals in the sector. alison.lock Tags: NULL
whatsapp Northern Foods still open to other takeover bids says CEO KCS-content whatsapp Share Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap NORTHERN Foods reported in line Christmas trading yesterday, as its acting chief executive said the door was open for tycoon Ranjit Boparan to make a counter bid that could derail its merger plans. Northern Foods is set to put its £1.7bn merger with Irish food manufacturer Greencore to a shareholder vote on 31 January, but Simon Herrick said the board would look at alternatives. “If an offer came in we’d have to consider it and price is going to be key. Our fiduciary duty as board members is to make sure we have considered employees and other stakeholders as well but price will obviously be a key issue,” Herrick said yesterday. Boparan has until 21 January to make a firm offer, following a Takeover Panel ruling. Herrick’s comments contrast with a letter from Northern that emerged yesterday, which criticised its former bank Rothschild for advising Boparan on its takeover interest. Northern claimed that Rothschild has confidential information that could help Boparan’s advances, which the bank denied. Banking sources said such letters are commonplace in M&A when a financial adviser switches sides, but are normally not made public. Thursday 13 January 2011 8:23 pm Tags: NULL Show Comments ▼
KCS-content Share Show Comments ▼ whatsapp Conventional bonds have risen in strength against Islamic Sukuk “bonds” in the Gulf. Issuance of conventional bonds surged to hit $15bn (£9.4bn) last year, whilst the issuance of sukuk hit $7bn, according to research by Trowers & Hamlins. The reputation of sukuk had been hit during the financial crisis, which has led investors to turn to more conventional bonds. Monday 17 January 2011 9:16 pm Islamic bonds face challenge 
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Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Beazley eyes M&A after stellar results whatsapp Share 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 PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tuesday 8 February 2011 8:54 pm LLOYD’S insurer Beazley is still eyeing deals despite paying out $60m (£37.2m) in dividends and keeping a $20m chest for potential share buybacks, chief executive Andrew Horton told City A.M. yesterday. Beazley’s share price rose more than 6.6 per cent to 127.7p after it reported a 60 per cent rise in pre-tax profit and a 21.4 per cent return on equity in its 2010 results. But while it remains keen on M&A after its failed bid for rival Hardy Underwriting last year, Horton said it is not targeting Lloyd’s two current likely sales, Chaucer and Novae. “Novae and Chaucer are in lines of business that we don’t understand and don’t have an interest in going into,” he said. Beazley will focus instead on Lloyd’s syndicates that match its strengths in property, marine and specialty insurance and firms in the US, where it writes 60 per cent of its premiums.“We are big in the US and in Lloyd’s so we would definitely look at both of those. We also want to increase our European footprint,” he said.In its 25th unbroken year of profitability it saw pre-tax profit rise to $250.8m, up from $158.1m in 2009, delivering 27.4p earnings per share and paying a 10p total dividend.Beazley, which wrote $1.7bn in premiums in 2010, saw growth in reinsurance, US data breach insurance, energy insurance – after BP’s Transocean spill – and in life, accident and health lines. 
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