Financial advisory industry routinely deters women from angel investing

Miranda Wadham
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Financial advisory industry routinely deters women from angel investing
There is a substantial gender deficit in the world of business investment, according to a new report by the UKBAA, with women continually deterred from entering the traditionally ‘male’ world of angel investment. In the light of International Women’s Day, the ‘The Barriers and Opportunities for Women Angel Investing in Europe’ hopes to highlight the challenges women face when making a mark in the finance industry.
The report found that women were offered very little advice on how to get into angel investing by the financial advisory community or financial media, with many financial advisors assuming women prefer investments with a lower risk. Whilst the financial advisory community may be seen as a key means to enable women to identify the opportunity to back small businesses, the majority of women investor respondents to the survey said that the advisory community directed them towards conventional and deemed low risk areas of investment such as stocks and shares, followed by bonds and pension funds. A much smaller group of women were advised about the opportunity for investing in small businesses and the relevant tax breaks offered in the partner countries concerned. 136 of the women surveyed said they hadn’t tried angel investing because it seemed too risky compared to stocks and shares. One UK female investor said, “My financial advisor assumed, as a woman, I was risk averse and I should look at safe options. He never mentioned Angel investing or the EIS tax relief scheme.”
According to the report, a significant number of women respondents also felt there was an image presented in the media an press of – usually male – business angels being extremely rich and highly successful, meaning few women feel they have achieved sufficient success or wealth to participate.
136 of the women surveyed also admitted to having other financial commitments and family priorities, with 67 saying they have no control over the family finances. Getting more women interested in angel investing could be beneficial for female business owners too. Women investors have a strong track history of backing other female founders or co-founders with a majority (54%), of those who invested in women-founded businesses having invested in at least one company founded by women, with nearly 20 percent having invested in 3 to 10 women founders. This compares to only a small minority of male investors who choose to back businesses led by women. If nothing else, it is this highlights the importance of enlarging the pool of women engaged in angel investing in the coming year.

Aviva raises dividend by 18pc, but share price falls

Miranda Wadham
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Aviva raises dividend by 18pc, but share price falls
Insurance company Aviva (LON:AV) reported a 2 percent rise operating profit for the full year on Thursday, as expected by analysts, alongside an 18 percent dividend hike. Operating profit rose to £3.07 billion in 2017, up from from £3.01 billion the previous year, prompting the company to approve an 18 percent dividend hike. Assets under management at Aviva Investors increased by 9 percent to £490 billion, reporting a 14 percent increase in fund management revenue. “In 2017, Aviva delivered growth in profits, in dividends, in capital and in cash. Aviva grew operating earnings per share by 7 percent and our full year dividend by 18 percent, the fourth consecutive year of double-digit dividend growth,” said Mark Wilson, Aviva’s Chief Executive Officer. “Aviva has broad-based growth, with six of our eight major markets delivering double-digit profit improvement. We now have a collection of strong and growing businesses.” Shares in Aviva fell 2.11 percent on Thursday morning, despite the strong results, and are currently trading at 496.90 (0930GMT).

G4S shares fall despite 5% dividend hike

Miranda Wadham
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G4S shares fall despite 5% dividend hike
Shares in security company G4S (LON:GFS) sunk over 3 percent on Thursday morning, despite hiking their dividend for the 2017 year. The group raised their final dividend was raised by 5 percent to 6.11p per share, taking the full-year dividend to 9.7p per share. The results released on Thursday also showed a 3.2 percent rise in revenue from continuing businesses, hitting £7.43 billion, as well as a 5.7 percent earnings boost to £277 million. Profit after tax grew to £281 million from £263 million the previous year. Developed markets showed the strongest growth, with revenues up 3.7 percent, with emerging markets revenue growth benefitting from a 2.9 percent rise. Technology-related security revenues which grew 11.4 percent. Chief executive Ashley Almanza said: “G4S has delivered another year of profitable growth and good cash generation, enabling us to invest in our growth, technology and productivity programmes and, at the same time, strengthen our balance sheet.” “The outlook for the Group is positive: our strong market positions, commercial discipline, growing technology-related revenues, positive cash generation and on-going productivity programmes provide substantial confidence that the Group is well positioned to deliver a strong performance over the next three years.” Adjusted PBITA came in at £496 million, an increase of 4.2 percent, with net debt to EBITDA up 2.4x from 2.8x in 2016. Shares in G4S (LON:GFS) are currently trading down 3.45 percent at 254.90 (0859GMT).

Starcom shares edge up after reporting 46% profit rise

Miranda Wadham
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Starcom shares edge up after reporting 46% profit rise
Wireless solutions group Starcom (LON:STAR) saw shares rise in early trading, after reporting a 46 percent rise in profits over the 2017 year. Revenues increased 6 percent over the year to $5.4 million, with profits hitting $2.1 million, up from $1.4 million the previous year. Gross margin rose to 38.2 percent, with EBITDA loss, excluding share options provision, at $193,000. Net loss after taxation fell to $1.3 million, including a charge of $204,000 (2016: $59,000) for exchange rate differences. Starcom CEO Avi Hartmann commented: “2017 proved to be a turning point in the history of Starcom, with significant progress being made both in the development of our technology and the acceptance of that technology by some major companies and organisations. “Despite the unfortunate errors made in our announcement in January of our expected results for 2017 we have, most importantly, delivered improvements in both revenues and gross margins, as well as significantly reducing losses. “2018 has begun strongly, with more visibility than normal at this time of year on future orders, and with a number of new projects under active discussion. “Although the current year is at an early stage, the indications we have point to good growth in revenues and a continuing improvement in gross margins.” Starcom shares are currently trading up 0.97 percent at 2.60 (0846GMT).

Dominos Pizza shares fly as group sells one pizza every three seconds

Miranda Wadham
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Dominos Pizza shares fly as group sells one pizza every three seconds
Dominos Pizza (LON:DOM) shares rose over 7 percent on Thursday morning, after posting significant jumps in both revenue and sales over the course of 2017. Britain’s biggest pizza delivery company posted a 29.3 percent rise total revenue to £474.6 million, alongside a 15.1 percent rise in group system sales. System sales in the UK & Ireland rose 9.2 percent, with sales in the UK alone up 8.6 percent. On average, the company sold one pizza every three seconds, reporting a record overall annual sales of 97 million pizzas.   David Wild, Chief Executive Officer, said: “2017 has been a year of significant progress for Domino’s, despite the weaker consumer demand and cost inflation affecting the sector. Given this backdrop, I am particularly pleased with our performance. In the UK, system sales broke through £1 billion for the first time, helped by a record 95 new store openings. “We continue to take share in the pizza delivery market, and the investment in our new supply chain centre in Warrington will leave us well placed to meet our ambition to get to at least 1,600 sites. I remain confident in the long term growth potential of the business.” The group said it had ploughed record investment into UK over the course of the year in order to support long term growth potential. Shares in Dominos (LON:DOM) are currently trading up 7.42 percent at 341.50 (0827GMT).  

Airbus warn of 3,700 losses amid falling production

Nicole Jeary
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Airbus warn of 3,700 losses amid falling production
Airbus warned on Wednesday of up to 3,700 job losses amid falling production levels. The European plane manufacturer warned of job losses across operations in the UK, France, Germany and Spain. Its UK arm assured that this would not affect jobs at its Broughton plant in Wales. “Airbus is committed to managing any implications for its workforce in a responsible manner – as already successfully demonstrated on various occasions in the past,” it said in a statement. “The company is confident that it will be able to propose opportunities to most of the affected employees through programmes which are ramping up.” Airbus also announced it would be producing six A380 superjumbo jets annually, which is currently the world’s largest passenger plane, starting from 2020. In addition, it plans to manufacture eight A400Ms a year, a decrease from a previously anticipated 15 in 2018 and 11 in 2019. Airbus have come under pressure in recent years amid falling demand for its A380 in particular. Back in April of last year, the planemaker saw shares sink after engine problems impacted profits. Problem with its engines in the new A320 passenger plane hit trading, with adjusted operating profit falling to €240 million. Moreover, the development of the company’s state of the art Airbus A400M military aircraft has faced a series of setbacks. Back in February, the company admitted that nonetheless the military plane “remains a concern”, with persistent problems relating to its engines.  

New Look to cut 1,000 jobs in cost-saving drive

Nicole Jeary
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New Look to cut 1,000 jobs in cost-saving drive
New Look has announced the impending closure of 60 of its UK stores, putting 1,000 jobs at risk. In light of a persistently challenging retail environment, the high-street giant is proposing a Company Voluntary Agreement (CVA) to creditors. This would in turn help bring down its rent costs, as well as allow for the revision of terms on current leases. Should creditors agree to the proposal, New Look will close 60 of its 593 shops in the UK, alongside six sub-let sites which are sub-let. Rent will also be cut in an additional 393 locations. Creditors are set to vote on the proposal on 21 March. In the meantime, New Look has affirmed that all of its locations will remain open. Alistair McGeorge, Executive Chairman of New Look, said: “Given our challenged trading performance and over-rented UK store estate, we are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability. “We have held constructive discussions with our key landlords and strategic partners and will now seek creditor approval on our CVA proposal. A priority for us is to keep all potentially affected colleagues informed during this difficult time.” Retailers such as New Look are increasingly struggling to adapt to changing consumer patterns, with customers looking towards the ease of online platforms of competitors such as Boohoo and Misguided. This in turn has led to sharp fall in footfall in recent years putting greater pressure on the high street, as reflected by the latest ONS retail figures. What’s more, shoppers have also proved more cautious in light of rising inflation levels, which continues to outpace wage growth. Daniel Butters, partner at Deloitte, commented: “The retail trading environment in the UK remains extremely challenging, driven by weaker consumer confidence, the implications of Brexit and competition from online channels. “It is important to stress that no stores will close on day one, and employees, suppliers and business rates will continue to be paid on time and in full.” New Look’s announcement follows the collapse of two other UK high-street retailers last week. Toys R Us and Maplins both announced falling into administration, as both companies failed to find a prospective buyer in time.  

Donald Trump falls more than 200 places on the Forbes billionaires list

Nicole Jeary
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Donald Trump falls more than 200 places on the Forbes billionaires list
Donald Trump has fallen more than 200 places on the Forbes annual billionaires list. The US President, who made his name as a real-estate and reality tv mogul, has seen a dramatic fall in the rankings since the launch of his presidential campaign. Trump was ranked as No. 776 out of 2,208 on this year’s list, with a net worth of $3.1 billion. This marks a considerable drop from his position on the 2017 list, coming in at No. 544 on the ranking, with a net worth of $3.5 billion. At the top-end of the list, Amazon (NASDAQ:AMZN) founder Jeff Bezos took the number one spot with $112 billion, followed by Microsoft founder Bill Gates, who came in at second place with $90 billion. Forbes explained Trump’s fall as partly due to a downturn in the retail real estate market in New York City, alongside “the president’s polarizing personality is costing him business as well.” Despite having taken office just over a year ago, Trump’s presidency has thus far been shrouded in controversy. Notably, the Trump administration continues to be under investigation with regards to alleged Russian interference in the US election. Most recently, The President’s top economic advisor Gary Cohn resigned due his strong opposition to the imposition of tariffs on steel and aluminium imports. Mr Cohn is one of many of a series of high-profile exits from the Trump administration in recent months. He follows the departure of Hope Hicks as communications director, who quit last week. Other senior figures who left their role include former chief of staff, Reince Priebus, and the President’s former chief strategist, Steve Bannon.  

Co-op trials ‘scan-and-go’ smartphone checkout system

Miranda Wadham
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0
Co-op trials ‘scan-and-go’ smartphone checkout system
The Co-op supermarket is in the process of launching a ‘scan-and-go’ checkout process, enabling users to scan products using their smartphone camera and have the total deducted from their card at the end of the shop. The initiative will be trialled at the Co-op’s store at its support centre in Manchester, followed by a further trial at the Co-op’s store located in the UK headquarters of Microsoft. It may then be rolled out across the UK over the summer. The idea is the latest initiative designed to help Co-op stay ahead in the competitive grocery market, with Matthew Speight, director of retail support at the Co-op, saying: “It is a challenging market place for retailers, and the Co-op is responding positively.” “Our ambition is to harness technology to deliver the shopping experience that our diverse customer-base requires – when, where and how they need it,” he said. Co-op is one of several stores to trial a cashless payment system, responding to millennials’ demand for easier and quicker payments. Sainsbury’s revealed it was testing a similar initiative back in September 2017, and Amazon hit the headlines last week with its first automated, cashierless store. Elliott Goldenberg, head of digital payments at Mastercard UK, added: “With the Co-op we are bringing our online and mobile capability – Masterpass – into the physical store, and offering consumers who want a fast and frictionless buying experience, a secure and reliable way to pay. “By scanning products using Co-op’s mobile app, shoppers can checkout using payment card details securely stored within Masterpass, and leave the store, with both the Co-op and them knowing they have paid.”  

Nature Group shares plummet amid disappointing update

Nicole Jeary
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0
Nature Group shares plummet amid disappointing update
Shares in Nature Group (LON:NGR) plummeted on Wednesday morning after the company issued a disappointing trading update. The port reception facility and waste treatment solutions provider updated the market on the financial progress for 2017, after a challenging first six months to the year. The group provides these services for oil, marine and process industries. Specifically with regards to its Oil & Gas division, the company noted that it has four units currently deployed with eight operators, which continue to encounter “difficult trading conditions”. In response to the difficult year, the company said it intends to prioritise its Maritime division, following its business-wide strategic review conducted by the Board last year. The group is looking to address the group’s immediate cash flow issues, to facilitate the moving ahead in discussions regarding a proposed sale. Accordingly, Nature Group announced that the Board had secured a verbal waiver from lender, DNB, permitting the deferral of the repayment of lease and debt financing facilities totalling £1 million. The deferral is conditional upon the proposed sale. Berend van Straten, Chairman of Nature Group, commented: “2017 was another difficult year for Nature Group and we continue to face significant headwinds, particularly in our Oil & Gas division. However, we are encouraged that steps taken by the Board during the period to identify the operational and structural issues problems and to define and begin to implement a new strategy are beginning to yield positive results. There is much more work to do to ensure Nature Group has a viable future, and the proposed sale of the Oil & Gas division is a vital step in achieving that and to addressing the Group’s urgent, short-term cash requirements.” Shares in Nature Group are currently trading down as much as 49.65 percent as of 10.35AM (GMT).
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