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Wembley

Article Abstract:

Wembley sold its National Stadium in Mar 1999 and this led to a drop of 6.3 million pounds sterling in the company's operating profit for its first half, yet the company's pre-tax profit has risen. The company has interest income from the proceeds of the sale, and is able to spend more time on other operations. These include US dog and horse tracks, as well as dog tracks in the UK. The company also owns 43 acres of land walued at 43 million pounds sterling, by the stadium, and the value could rise if planning permission is granted for development.

Publisher: FT Business
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
Management, Leisure industry, Wembley PLC

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Still stuck in the pits

Article Abstract:

Formula One Holdings was reportedly planning a stock flotation, but nothing has occurred five months later. A statement from the stockholders' legal adviser that a public offering is a preferred course of action has not ended the uncertainty. The company has more than 100 contracts that each have to be checked, and there could be European Union competition policy problems. A trade sale is also a possibility. The company has tended to negotiate contracts using brinkmanship, so a flotation could still be carried out.

Publisher: FT Business
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
Securities, Automobile racing, Formula One Management Ltd.

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Strong sterling still a problem

Article Abstract:

A strong pound sterling has affected many United Kingdom exporters such as British Steel and Manders. This in turn has affected profit estimates from stockbrokers, with 789 downgrades in Aug 1997 compared to 446 upgrades. Seasonal companies such as Hozelink have been affected by wet weather in summer 1997. The UK real estate market is buoyant and this benefits house construction companies and real estate firms. Meanwhile, Merrydown has been affected by a rise in tax on some types of cider.

Publisher: FT Business
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
United Kingdom, Economic aspects, Pound (United Kingdom)

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Subjects list: Racetracks (Horse racing)
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