News in brief: Spread-better hit as tie-up takes toll, SABMiller brews up a plan for Zambia, Carillion braked by ‘challenging’ times

22 August 2013

Spread betting firm London Capital Group saw profits drop 61% to £300,000 in the first half after it was forced to set aside a further £1.1 million for the Financial Ombudsman to cover claims linked to its ill-fated tie-up with Integrity Financial Solutions.

That takes the total bill to almost £5 million. The firm is pulling out of Gibraltar and Australia as it aims to cut costs by 15%.

SABMiller brews up a plan for Zambia

SABMiller today opened its second brewery in Uganda and announced plans for a new one in Zambia as it builds it presence in the African beer market.

The $90 million (£57 million) brewery in Uganda doubles the company’s production capacity in the country to 3.6 million hectolitres. The one in the Zambian capital Lusaka will cost $24 million.

Carillion braked by ‘challenging’ times

Shares in construction group Carillion fell 9.45p, or more than 3%, to 287.85p today after it said trading conditions remained “challenging”.

Revenues dropped 8% to £1.9 billion in the first six months after the group scaled back its UK construction business. Headline profits rose 2% to £73.5 million. The order book at the end of June stood at £18.4 billion, up from £18.1 billion in December.