TPS Eastern Africa (Serena) Limited (TPSE.ke) 2011 Abridged Report

first_imgTPS Eastern Africa (Serena) Limited (TPSE.ke) listed on the Nairobi Securities Exchange under the Tourism sector has released it’s 2011 abridged results.For more information about TPS Eastern Africa (Serena) Limited (TPSE.ke) reports, abridged reports, interim earnings results and earnings presentations, visit the TPS Eastern Africa (Serena) Limited (TPSE.ke) company page on AfricanFinancials.Document: TPS Eastern Africa (Serena) Limited (TPSE.ke)  2011 abridged results.Company ProfileTPS Eastern Africa (Serena) Limited owns and operates hotels and lodges in Kenya for the business and tourist sectors. The company owns and operates 35 hotels as well as a selection of resorts, safari guest lodges, safari camps, palaces and forts located in strategic sites in Kenya, Tanzania, Zanzibar, Rwanda, Uganda, Mozambique, Pakistan, Afghanistan and Tajikistan. Subsidiary companies include TPS (Kenya) Limited which owns Nairobi Serena Hotel, Amboseli Serena Safari Lodge, Mara Serena Safari Lodge and Kilaguni Serena Lodge; TPS (Zanzibar) Limited which owns Zanzibar Serena Hotel; TPS (Tanzania) Limited which owns Kirawira Serena Camp, Lake Manyara Serena Safari Lodge, Serena Mivumo River Lodge and Selous Serena Camp; and TPS (Uganda) Limited. Other properties owned and managed by TPS Eastern Africa (Serena) Limited include Lake Victoria Serena Resort in Uganda and Polana Serena Hotel in Mozambique. TPS Eastern Africa (Serena) Limited is listed on the Nairobi Securities Exchangelast_img read more

Should I buy Vodafone shares today?

first_img FREE REPORT: Why this £5 stock could be set to surge Our 6 ‘Best Buys Now’ Shares Yesterday, telecommunications giant Vodafone (LSE: VOD) posted its FY2021 preliminary results. It’s fair to say the market wasn’t impressed. The FTSE 100 stock ended the day down 9%.Is this a buying opportunity for me? Let’s take a look at the results, and the investment case for Vodafone.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Vodafone: full-year results missed expectationsYesterday’s results from Vodafone, for the year ended 31 March, weren’t brilliant, but they weren’t terrible either, in my opinion.On the positive side, operating profit came in at €5,097m, 24% higher than the figure of €4,099m posted a year earlier. Meanwhile, adjusted earnings per share came in at 8.08 euro cents, up from 5.60 euro cents a year earlier. The company declared a dividend of nine euro cents – the same as last year.On the downside, revenue was 2.6% lower for the year at €43,809m. This lack of top-line growth is an issue I have highlighted in the past. Meanwhile, free cash flow (FCF) for the period was well down on FY20. For the period, FCF was €3,110m versus €4,949m a year earlier.It’s worth noting that full-year adjusted earnings came in at the bottom of the company’s guidance and missed analysts’ expectations. That’s the main reason the share price fell yesterday.Looking ahead, Vodafone does expect its performance to improve. For FY22, it is targeting adjusted earnings of between €15bn and €15.4bn (versus €14.4bn in FY21) and adjusted free cash flow of at least €5.2bn.Meanwhile, in the medium term, the group is aiming to achieve growth in both Europe and Africa. In these regions, it is targeting mid-single-digit growth in both earnings and FCF.Vodafone shares: the investment caseLooking at the investment case for Vodafone, I can’t say I’m excited about the stock.Sure, there is a big dividend yield on offer. Currently, the yield is about 6%. That’s handy in today’s low-interest-rate environment.There is also the fact that Chairman Jean-François van Boxmeer purchased 305,000 Vodafone shares yesterday, spending approximately £412,000 on stock. This is encouraging as it suggests that the insider is confident about the future and that he expects the stock to rise.On the downside, however, growth is very sluggish. This year, analysts expect revenue growth of just 2.5%.Meanwhile, return on capital employed (ROCE) – a measure of profitability that top investors such as Warren Buffett and Terry Smith pay close attention to – is very low. Between FY15 and FY20, Vodafone had an average ROCE of just 2%, which is poor. Top companies tend to have a ROCE of 20%+.There’s also the debt on the balance sheet. At 31 March, Vodafone had net debt of €40.5bn. That’s about 2.8 times last year’s adjusted earnings. That’s quite high, which adds risk to the investment case.Finally, I don’t see the stock as cheap. Currently, it sports a forward-looking P/E ratio of about 17.  My view on VOD sharesAll things considered, I think there are much better stocks I could buy today. I’d rather invest in a high-quality business with strong long-term growth potential. Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. Should I buy Vodafone shares today? Get the full details on this £5 stock now – while your report is free. Edward Sheldon has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Edward Sheldon, CFA | Wednesday, 19th May, 2021 | More on: VOD center_img Simply click below to discover how you can take advantage of this. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Image source: Getty Images Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Edward Sheldon, CFAlast_img read more

A Lot of Yield Variability in Northwest Indiana Corn and Beans

first_img Facebook Twitter Kingma yields varyingHarvest in Indiana really saw nice progress from mid-week last week through the weekend and into Monday as weather and field conditions have given farmers another great window of opportunity. One of those taking advantage is Mark Kingma in Jasper County in the northwest corner of the state. He is reporting yield variability from both corn and soybean harvest with the top end corn fields at 250 bushels per acre and soybeans up around 70. But other bean fields are down around 38.Kingma is a bit surprised at the fields with excellent corn yields, some of his best ever.“I didn’t think conditions on those fields were that much better that they should have been the best I’ve ever seen out of those, but obviously I’ll take it,” he told HAT. “Some of it was the fact that we had rain early and normally we’ll lose some nitrogen on those fields when we get rain. We had a lot of rain in May before we side dressed so those fields we were forced to put all of our nitrogen on late which don’t usually like to do, but usually will split apply our nitrogen. I think we were just able to put all the nitrogen on just before the crop needed it and it really utilized it this year.”Kingma reported on the variability from his combine in the middle of a bean field Monday afternoon, and it’s a field that was hit hard by hail a week after Labor Day.“We had about 400 acres get hit by hail and we had sprayed fungicide on this. The combination of the hail delaying them and the fungicide keeping them green longer, it looks like it’s a green carpet coming out of the back of the combine, all the weeds in here. I’ve never cut beans like this and the yields are ok. They’re not terrific, but alright.”Hear the full HAT field update:Kingma update 10-14 Previous articleNo EIA Reports due to ShutdownNext articleU.S. Government Will Fine Texas Fertilizer Plant Andy Eubank A Lot of Yield Variability in Northwest Indiana Corn and Beans By Andy Eubank – Oct 15, 2013 SHARE SHARE Facebook Twitter Home Indiana Agriculture News A Lot of Yield Variability in Northwest Indiana Corn and Beanslast_img read more

Radio station director released after being held without charge for 57 days

first_img Organisation RSF requests urgent adoption of moratorium on arrests of journalists SomaliaAfrica According to the local media, journalists are being harassed because of their coverage of last December’s Khatumo conference, at which local politicians and traditional tribal leaders proclaimed the new autonomous state of Khatumo, formed by three regions – Sool, Sanaag and Cayn – located between Somaliland and Puntland.Both Somaliland and Puntland claim Sool as their own and the Somaliland authorities are trying to exercise close control of any reporting coming out of the region. In particular, it seems that they are trying to intimidate, harass and interrogate any journalist who attended the independence conference. News Reporters Without Borders is relieved to learn that the authorities of the semi-autonomous northeastern region of Puntland released radio Voice of Peace director Awke Abdullahi Ali on 28 April after holding him for 57 days in the region’s capital, Bossasso, without bringing any charges against him.“This is good news but it should not be allowed to divert attention from the fact that journalists working in Puntland are constantly exposed to the threat of arbitrary arrest,” Reporters Without Borders said.Fellow journalists said Ali was freed because his health had declined sharply while in detention. He has a heart ailment and will now undergo medical tests. As he left prison, Ali said he would never abandon commitment as a journalist to defending the community.—————–24.04.2012. Call for Voice of Peace director’s “immediate and unconditional” release in PuntlandReporters Without Borders calls on the authorities of the semi-autonomous northeastern region of Puntland to immediately release radio Voice of Peace director Awke Abdullahi Ali, who has been held in the region’s capital, Bossasso, for nearly two months. Ali has not been charged although, under the law, no one should be held for more than 48 hours without charge.At the same time as it urges Puntland’s authorities to stop harassing journalists, Reporters Without Borders is also concerned about media freedom violations in the breakaway northwestern region of Somaliland and in the southern part of Somalia, especially the capital, Mogadishu.“We call for Ali’s immediate and unconditional release in the absence of any legal grounds for his arrest and continuing detention,” Reporters Without Borders said. “Ali should be freed for humanitarian as well as legal reasons, as his state of health is worsening by the day. We also urge the authorities to allow the station to reopen.”The station has been closed indefinitely since Ali’s arrest on 3 March and the seizure of its computers and sound equipment after it broadcast an interview with the spokesman of the Islamist militia Al-Shabaab, which has been fighting Puntland’s security forces in the Bossasso suburb of Gal-Gala. The interview angered the authorities, although a government spokesman was also interviewed so that the opposing viewpoint could be represented.After publicly defending Ali, fellow journalist Abdiweli Hassan Gooni, the Puntland coordinator of the National Union of Somali Journalists (NUSOJ), was arrested at his Bossasso home on 13 April and was interrogated about his articles condemning Ali’s unjustified detention. Gooni was finally freed on 16 April after being held for three days in the most appalling conditions. Follow the news on Somalia _ Mogadishu – capital torn by violenceTen days before the national theatre bombing in Mogadishu that left many dead and wounded, including badly injured journalists, Shabelle Media Network journalist Muhaydin Hassan Mohammed sustained a gunshot injury to his chest in a murder attempt near his home in the Mogadishu district of Wadajir on 25 March. Fearing for his safety, Mohammed subsequently fled to Nairobi, the capital of neighbouring Kenya, after receiving further threats.In its 2011 annual roundup, Reporters Without Borders classified Mogadishu as one of the world’s ten most dangerous places for journalists.With a total of 29 journalists killed since 2007, Somalia continues to be Africa’s deadliest country for media personnel and is ranked 164th out of 179 countries in the 2011-2012 Reporters Without Borders press freedom index.Photo : Somalian prisonners in the breakaway northwestern region of Somaliland (Simon Maina / AFP)Credits Somalia’s map : BBCPhoto : Muhaydin Hassan Mohammed (Shabelle Media Network) RSF_en Radio reporter gunned on city street in central Somalia _ Arbitrary detention and banishment in SomalilandThe situation is hardly any better for journalists in Somaliland, where three have been detained in the past month. The latest was Somalisat TV reporter Mohamed Shaqale, who was arrested in Las Anod, the capital of the Sool region, on 19 April after spending a month in hiding while soldiers searched for him. His computer, camera and recordings were all seized and, when released on 22 April, he was expelled from the region. He is now in forced exile in Puntland.Ahmed Ali Farah, a reporter for Royal Television and Somali 24, was arrested in Las Anod on 31 March and freelancer Abdisamad Keyse was arrested when he went to visit Farah in prison four days later. They were released on 19 April after being held for two weeks without being charged.  Banned from remaining in Las Anod by the Somaliland authorities, Farah has been forced to base himself in Taleh (Taleex), a town 175 km to the northeast. Help by sharing this information Receive email alerts RSF and NUSOJ call for release of a journalist held in Somalia’s Puntland region News SomaliaAfrica News News to go further February 24, 2021 Find out more April 30, 2012 – Updated on January 20, 2016 Radio station director released after being held without charge for 57 days March 2, 2021 Find out more January 8, 2021 Find out morelast_img read more

COVID-19 vaccines

first_img Facebook COVID-19 vaccines WhatsApp Previous articleJazz survive late rally, edge Pistons 117-105Next articleGlobal Self-Paced E-Learning Market | $ 6.71 Billion Growth During 2020-2024 | Technavio Digital AIM Web Support Local News TAGS  Twitter By Digital AIM Web Support – March 4, 2021 center_img Twitter Medical Center Hospital will be administering Pfizer COVID-19 vaccine at the drive-thru clinic at Ratliff Stadium, south main entrance. The clinic will start at 9 a.m. and gates close at 2 p.m. today and tentatively open on Friday only if vaccines remain. Clinic is for Phase 1A – frontline workers and Phase 1B – most at-risk and for ages 65 and older. Online registration requested for quicker onsite processing. For those, that are not able to register online will be rerouted to a waiting area to register before vaccination. Wear short sleeve clothing easy to access arm. Bring a valid driver’s license or other photo ID. To preregister or for more information, visit mchodessa.com. For those looking for a way to help, email [email protected] Odessa Regional Medical Center, 520 E. Sixth St., is expecting COVID-19 vaccines soon. The vaccine is free of charge while supplies last. Please check on vaccine availability. For more information, call 432-582-8549 or visit tinyurl.com/y3jqhz89. Walgreens has limited COVID19 vaccines available in select areas. For eligibility requirements or more information, visit tinyurl.com/26plsik2. H-E-B Pharmacies are prepared to receive new allotments of COVID-19 vaccine at any time from the state of Texas. Once they have vaccine, eligible customers can sign up using the scheduler to receive a COVID-19 vaccine. To sign up, updates or information, visit vaccine.heb.com. CVS stores are administering the COVID-19 vaccine by appointment only in select stores, based on local eligibility guidelines. For updates or information, visit tinyurl.com/y5o8qje4. Walmart and Sam’s Club pharmacies are administering the COVID-19 vaccine based on state and federal eligibility guidelines in select areas. For updates, visit tinyurl.com/y5k95kzn. Pinterest Facebook Pinterest WhatsApplast_img read more

Saint-Gobain Life Sciences präsentiert hocheffiziente Zellkulturbeutel für die T-Zell-Expansion

first_img Twitter Saint-Gobain Life Sciences präsentiert hocheffiziente Zellkulturbeutel für die T-Zell-Expansion WhatsApp Previous articleRaven Industries Announces New Chief Financial OfficerNext articleThe Latest: N. Carolina governor eases restrictions, curfew Digital AIM Web Support Twitter Facebook Facebook By Digital AIM Web Support – April 6, 2021 center_img TAGS  Pinterest GAITHERSBURG, Maryland, USA–(BUSINESS WIRE)–Feb 24, 2021– Saint-Gobain Life Sciences, ein branchenführender Anbieter von materialwissenschaftlichen Lösungen für die Herstellung von Zell- und Gentherapien, hat heute einen neuen Zellkulturbeutel vorgestellt, der speziell für T-Zell-basierte Therapien entwickelt wurde. Diese Pressemitteilung enthält multimediale Inhalte. Die vollständige Mitteilung hier ansehen: https://www.businesswire.com/news/home/20210224006200/de/ VueLife® “HP” Series Bag cell culture testing in Saint-Gobain Life Sciences Laboratory. (Photo: Business Wire) T-Zell-basierte Therapien bieten einen neuartigen Ansatz für die Behandlung von Krebs. Die Nutzung des eigenen Immunsystems des Patienten durch die Isolierung seiner T-Zellen und die gentechnische Veränderung dieser Zellen zur Auslösung einer Immunantwort entwickelt sich zunehmend zu einer bevorzugten Herstellungsmethode. Im Zuge der Weiterentwicklung dieser Therapien wird die Prozesseffizienz zum entscheidenden Faktor bei der Bereitstellung kostengünstiger Behandlungsoptionen für Patienten. VueLife ® „HP“ (High Permeability), das auf der VueLife ® -Produktfamilie von Zellkulturbeuteln auf Basis von fluoriertem Ethylen-Propylen (FEP) aufbaut, enthält eine innovative, patentierte Laminat-Folienschicht, die den CO 2 – und O 2 -Austausch im Vergleich zu einschichtigen Beuteln begünstigt. Gleichzeitig bleibt jedoch die Skalierbarkeit und Prozessflexibilität eines geschlossenen Beutelsystems erhalten. Die erhöhte Permeabilität aufgrund der HP-Laminatschicht wurde speziell für die Kultivierung von Zellen entwickelt, die höhere Respirationsraten erfordern, darunter auch T-Zellen. „Mit der Entwicklung dieses Produkts haben wir auf die Marktnachfrage nach einem kostengünstigen Kulturgefäß reagiert, das eine effiziente Zellexpansion in einem skalierbaren, geschlossenen System unterstützt“, so Benjamin Le Quere, General Manager der Saint-Gobain-Geschäftssparte Life Sciences Bioprocess Solutions. „VueLife ® HP ist ein faszinierendes Ergebnis der Kombination unserer Kompetenz im Bereich der Materialwissenschaft mit unserem Know-how bei Zellkulturen.“ Die gesamte Produktfamilie der VueLife ® -Zellkulturbeutel nutzt die gleiche FEP-Fluidkontaktschicht. Aufgrund seiner Durchlässigkeit für Gase und Undurchlässigkeit für Flüssigkeiten fördert FEP auf ideale Weise das Zellwachstum und ist gleichzeitig biologisch und chemisch inert. ÜBER SAINT-GOBAIN LIFE SCIENCES Mit dem Ziel, die Lebensqualität von Patienten zu verbessern, entwickelt und produziert Saint-Gobain Life Sciences hochwirksame Komponenten und integrierte Lösungen für ein breites Spektrum der Patientenversorgung: von der Entwicklung neuer Krebstherapien über biopharmazeutische Produktion bis hin zu intravenösen Therapien zur Wirkstoffverabreichung. Neben unserem materialwissenschaftlichen Know-how und unseren kollaborativen Designservices verdanken wir die weltweite Anerkennung als vertrauenswürdiger Partner unserer qualitätsorientierten Ausrichtung und regulatorischen Kompetenz. Durch die Kombination von technischem Fachwissen, globalen Fertigungskapazitäten und Forschungs- und Entwicklungsressourcen ist Saint-Gobain Life Sciences in der Lage, den kontinuierlich evolvierenden Anforderungen von Kunden in den Segmenten Bioprozesse, Medizin und Pharmazie rund um den Globus gerecht zu werden. Saint-Gobain Life Sciences ist Teil der Compagnie de Saint-Gobain. Compagnie de Saint-Gobain entwickelt, produziert und vertreibt Werkstoffe und Lösungen, die für die Lebensqualität von uns allen und unsere Zukunft maßgeblich sind. Sie sind allgegenwärtig in unseren Wohnräumen und unserem täglichen Leben: in Gebäuden, Verkehr, Infrastruktur und zahlreichen industriellen Anwendungen. Sie bieten Komfort, Leistung und Sicherheit und liefern Antworten auf die Herausforderungen in Bezug auf nachhaltigen Bau, Ressourceneffizienz und Klimawandel. Saint-Gobain ist in 70 Ländern tätig und beschäftigt weltweit mehr als 180.000 Mitarbeiter. Im Jahr 2019 erzielte das Unternehmen einen Umsatz von 42,6 Milliarden Euro. www.celltherapy.saint-gobain.com/products/cell-culture-processing-bags/vuelife-hp-series Die Ausgangssprache, in der der Originaltext veröffentlicht wird, ist die offizielle und autorisierte Version. Übersetzungen werden zur besseren Verständigung mitgeliefert. Nur die Sprachversion, die im Original veröffentlicht wurde, ist rechtsgültig. Gleichen Sie deshalb Übersetzungen mit der originalen Sprachversion der Veröffentlichung ab. Originalversion auf businesswire.com ansehen:https://www.businesswire.com/news/home/20210224006200/de/ CONTACT: Medienkontakt: Katy Oroszi: 330-283-3536 [email protected] KEYWORD: EUROPE UNITED STATES NORTH AMERICA FRANCE MARYLAND INDUSTRY KEYWORD: HEALTH FDA STEM CELLS GENETICS CLINICAL TRIALS PHARMACEUTICAL BIOTECHNOLOGY SOURCE: Saint-Gobain Life Sciences Copyright Business Wire 2021. PUB: 02/24/2021 07:25 PM/DISC: 02/24/2021 07:25 PM http://www.businesswire.com/news/home/20210224006200/de WhatsApp Pinterest Local NewsBusinesslast_img read more

NYC murder suspect found with woman tied up in LA hotel

first_img@NYPDDetectives/Twitter(NEW YORK) — A 27-year-old man wanted for the murder of a woman in New York City was arrested in a Los Angeles hotel room with another woman allegedly tied up against her will, authorities said.The suspect, Danueal Drayton of New Haven, Connecticut, is accused of using dating websites to target his victims, New York Police Department officials said.Drayton had been wanted for the murder of a nurse in Queens who was found dead in her home a few weeks ago, after she allegedly met him on Tinder, NYPD officials said.As New York police investigated, they connected the Queens murder case to a separate rape case in Brooklyn several weeks earlier, NYPD Chief of Detectives Dermot Shea said on Thursday.The “common denominator in these cases — one being a murder and one being a rape — is dating websites,” Shea said. “This individual is known to us and believed by us to be using dating websites to meet women and victimize women.”Drayton is alleged to have met women on Tinder and other popular online dating apps as well, Shea said.Drayton fled New York and was apprehended this week in Los Angeles, where police found him with a woman who had been tied up against her will in a North Hollywood hotel room, according to the LAPD and Shea.Police are urging potential victims or anyone with information to contact authorities.“We are actively encouraging any victims to come forward in this case because there are potentially more victims out there,” Shea said.When Drayton was taken into custody in Los Angeles, he was charged with attempted murder, forcible rape, sexual penetration by foreign object and false imprisonment, according to a Los Angeles police source. Bail was set at $1,250,000, the source said.Drayton is due in court Friday. It was not immediately clear whether he had retained or been appointed a defense attorney.A spokesperson for Tinder did not immediately respond to ABC News’ request for comment.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Comment on Agency recruitment is not dying. It’s growing! by Greg Savage

first_img Ian, I think many (not all) internal teams are feeling the heat now that the market is shifting to a candidate short one in many markets, as a result of skills shortages. The role has shifted from a “screening” one to a “talent hunting ” one and those skills are totally different. So now we see the bizarre situation of companies paying for expensive internal teams, but paying agency fees anyway because the internal teams cannot deliver. That is not sustainableRead full article Comments are closed. Comment on Agency recruitment is not dying. It’s growing! by Greg SavageShared from missc on 15 Apr 2015 in Personnel Today Previous Article Next Article Related posts:No related photos.last_img read more

Countrywide share price crashes as £129m debt refinancing deal is revealed

first_imgHome » News » Agencies & People » Countrywide share price crashes as £129m debt refinancing deal is revealed previous nextAgencies & PeopleCountrywide share price crashes as £129m debt refinancing deal is revealedThe beleaguered company’s shares dropped to 14p today, down from over £1.50 a year ago and over half yesterday’s price.Nigel Lewis2nd August 201803,690 Views Countrywide’s share price has crashed to an all-time low after it revealed plans earlier today of a multi-million-pound share issue to refinance its debt, and despite signs of improving business performance.Earlier this morning its share price dropped to 14p after opening this morning at 25p. Only three weeks ago it was trading at 55p a share and a year ago, £1.56p. The share collapse follows details of its plans to raise £129 million via two share offers, one for £111.4 million and a second for £28.6 million.This share placing must be approved by shareholders at a special meeting on the 28th August before it can proceed. But the company says if approved the cash raised will be used to reduce its current debts by 60%.The Capital Refinancing Plan is in part designed to improve its results by clearing its considerable loan interest payments off the balance sheet.Business turnaround?The announcement was accompanied by an upbeat summary of Countrywide’s ‘turnaround plan’.This reveals an improving sales pipeline which, although still down 9% year-on-year, is an improvement on six months ago when the pipeline was down by a quarter.Countrywide also says the number of properties it’s marketing at the moment has increased by 3% year-on-year, again a huge difference compared to 12 months’ ago when its book was down by 24%.The company is also selling more add-on services for each sale and now makes 43p extra on top of every £1 of sales revenue, up from 38p a year ago.“The capital refinancing announced today is a significant milestone for the Group,” says Executive Chairman Peter Long (pictured, left).“It will enable us to build upon the progress we have made to date on our three-year recovery plan as we deliver our return to growth strategy.“Although it is still very early in the turnaround, we are encouraged by the operational improvements that we are making and the tangible results that are being achieved.”Countrywide has also promoted Paul Creffield to Group Managing Director following a six-month stint as Group Operations Director. He joins the firm’s board.Peter Long Paul Creffield share price Countrywide August 2, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more