As at the period end, the Group had 557.7m of undrawn committed headroom and free cash (FY 2022: 532.1m), being 300.0m (FY 2022: 300.0m) of committed headroom and 257.7m (FY 2022: 232.1m) of net free cash after offsetting overdraft positions. Agricultural interests include both livestock and arable farming. The half yearly results have been reviewed, not audited. The Company utilised the Limited Partnership that was created following the sale of the North American business to support the Scheme funding strategy as the source of funds for the loan. Other items below 5.0m would not normally be considered as adjusting items unless part of a larger strategic project, but items which distort year-on-year comparisons that exceed this amount could potentially be classified as an adjusting item and are assessed on a case by case basis. Introducing voice banking - Bank as quick as you speak. AIB claimed that it could not resolve the problems of ICI without putting its core banking business in jeopardy. AIB offers a full range of personal, business and corporate banking services. Credit cards (24-hour) Card lost (852)2282-1533 MANHATTAN Card (852)2881 No Hidden Charges. [19], Between 1999 and 2001 AIB had an interest in Keppel TatLee Bank in Singapore, but withdrew after Oversea-Chinese Banking Corporation (OCBC) acquired Keppel TatLee. References to 'adjusted operating profit', 'adjusted profit before tax', and 'adjusted EPS' throughout this document are before the adjusting items as set out in note 3 to the financial statements. Reference number: F000013. Big Blue Interactive's Corner Forum is one of the premiere New York Giants fan-run message boards. [0,-212921,2734425,"Kenya's steady march to sustainable businesses","Business Daily"], Based on this review, the Directors believe that the Company and the Group have adequate resources to continue in operational existence for the foreseeable future. Having been prohibited from doing so under the earlier CBSSG pandemic funding, we increased fares in October 2021, and have since made further interventions within the CPI cap permitted under more recent funding schemes. is one of the so-called Big Four commercial banks in Ireland. London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. London, EC2V 6EE. In August 2022 First Bus placed the UKs largest ever EV bus order outside of London with UK manufacturer Wrightbus. Podcasts. 'Cont.' COndensed consolidated statement of changes in equity. [42] 7,000 acres (2,800ha) were subsequently sold for circa 25,000 (equal to 2,496,413 today) at auction and 10,000 (equal to 998,565 today) by private treaty: a major disinvestment, with reinvestment in Great Britain. Finally, workforce availability, linked to both labour market shortages and staff retention, is a key risk that could impact operational capacity across both our bus and rail operations. A playback facility will also be available there in due course. The bank's capital value had fallen to 486million, rather less than its 70% holding in Bank Zachodni in Poland. First Published: Mon, November 28 2022. FY20: N234BN. ICSID Caseload Statistics. Following the announcement on 26 October 2022 of EQT Infrastructures agreement to sell First Transit to Transdev North America, Inc, the Group now estimates its earnout consideration to be around 74m based on the information received on the sale by EQT. The additional leases recognised under IFRS 16 for the new GWR contract are now expected to increase adjusted profit by approximately 22m in FY 2023 rather than by 30m as guided on signing, as the leases were signed later and at different lease terms. Delayed OTC Markets Summary of significant events in the Group. The Benchmark uses publicly available information to assess ninety of the worlds largest transportation companies on their progress towards decarbonisation and their contributions to a just transition and social transformation. For a substantial portion of FY 2022 First Bus and other regional bus operators effectively provided their assets and expertise to operate a government-funded bus system on a broadly cash break-even basis to ensure continuity of service during the pandemic. Hannah has over 10 years experience in residential property, having worked in both private practice before moving client side. It offers life assurance and pensions through its tied agency with Irish Life Assurance plc. * The fund aims to make a meaningful contribution to alleviating the UK housing shortage by meeting demand from housing developers (housing associations, local authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial affordable housing. Prior to TradeRisks, Alex worked for seven years at JP Morgan where he founded its risk advisory businesses, then HSBC leading the banks global risk advisory business, and Tokai Bank Europe as head of Capital Markets and Merchant Banking. The net pension surplus (comprising continued and discontinued operations) of 186.7m at the beginning of the reporting period moved to a net surplus of 60.2m as at the balance sheet date on 24 September 2022, with the movement principally due to a deterioration in pension asset performance partially offset by the impact of higher discount rates in the period. The PRAs audited accounts for the reporting year ending Monday 28 February 2022 are set out on pages 206-215 of the Bank of England Annual Report and Accounts. [0,-255330,2734424,"Part 1: Ventures And Valuations: Africa's Billion-Dollar Startups","Forbes Africa"], Alex has 33 years of experience in the finance industry, with the last 20 years focusing on social housing. [54], The Crown Estate is now a statutory corporation run on commercial lines by the Crown Estate Commissioners under the provisions of the Crown Estate Act 1961. The bank has subsidiaries in Kenya, Uganda, South Sudan, Rwanda and Tanzania with its shares listed in the Nairobi Real-time stock quotes, technical analysis, interactive charts, analyst [1,-54105,2734531,"Kamya: Architect of his own fortune | Monitor","Monitor"], In H1 2023 the four management fee-based operations have recorded performance fees at management's best estimate in aggregate for the period. ReSI plc targets a secure, long-term, inflation-linked annual dividend and an annual total return in excess of 8.0%. Roy Douglas, chairman, Irish Life & Permanent Plc and formerly of AIB, Patrick Dowling, former deputy chief executive, late of, This page was last edited on 15 November 2022, at 16:02. The Royal Bank of Scotland plc (RBS; Scottish Gaelic: Banca Roghail na h-Alba) is a major retail and commercial bank in Scotland.It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster Bank.The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many These were unrelated to Faldor. These contributions are subject to change on consideration of future statutory valuations. At the time of handover, quit rents totalled 23,418 (equal to 1,420,956 today) and rent from property 1,191 (equal to 72,267 today). By their nature, forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors that cause actual results, performance or achievements of the Group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Board is declaring an interim dividend of 0.9p per share (c.6.7m in aggregate), to be paid on 23 December 2022 to shareholders on the register at 18 November 2022. This is due to the name "AIB Bank" being adopted for the Republic of Ireland branch banking business at the time of the 1990 rebrand (with the word "Bank" being printed in the green stripe in the logo). Safaricom Limited is a  service-providing telecommunications company offering a broad range of services to its customers. As the largest private sector rail operator in the UK we have the experience and entrepreneurial spirit to resolve challenges, fix problems and innovate for the future, encouraging passengers back to the railway while growing our business. We are committed to working closely with government and our partners across the industry to deliver a successful railway that serves the needs of our customers and communities. [14], In 1923, the Royal Bank of Ireland bought the Irish Free State business of the Belfast Banking Company, which in turn bought the Northern Ireland business of the Royal Bank. [0,0,2734565,"Kenya youth spoilt for social media options","Business Daily"], The insurance claims provisions contain 94.8m in H1 2023 (full year 2022: 88.5m) which is recoverable from insurance companies and is included within other receivables in note 11. The bank's internal auditor, Tony Spollen,[29] highlighted a potential Deposit Interest Retention Tax (DIRT) liability of IR100million for the period 19861991,[30][31] but Gerry Scanlon, the group chief executive at that time rubbished this estimate, describing it as "infantile". [0,-188075,2734464,"Kiambu: Policewoman Conned KSh 86k by Imposter Who Promised to Deploy Her at Central Bank","Tuko.co.ke"], On 26 October 2022, EQT Infrastructure announced its agreement to sell First Transit to Transdev North America, Inc. As a result of this agreement, the Group estimates the earnout consideration to be around $85m (78.2m). Get all the latest India news, ipo, bse, business news, commodity only on Moneycontrol. London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. Level 1: Quoted prices in active markets for identical assets and liabilities. refers to discontinued operations, being First Student, First Transit and Greyhound US. She served as the Non-Executive Director for The Housing Finance Corporation from 2006 2012, where she was heavily involved in business strategy, financial policy and governance. [68], Chairmen and chief executives of the Crown Estate Commissioners, H M Treasury "Blue Note", Class X, 2, 1912, Commissioners' Report for 1853, p. 601, and 1855, pp. Net assets disposed were 14.7m, including 5.2m of cash, giving rise to a loss before tax on disposal of 3.7m. In accordance with this policy, the legacy Greyhound property sale and First Transit earnout proceeds have been substantially hedged into pounds Sterling during the period, at a rate of $1.1543. Mechanisms for the buy-back of shares are explained in the annual reports for the VCTs, but you should have no expectation that there will be any buy-back or other opportunity to redeem your interest. [1,-192141,2734459,"DEBT AGONY! Vote 30Quit Rent Office", "Australian firm the latest to join Northern Irish 'gold rush', "The Sovereign Grant Bill: Bad for Scotland and Bad for the UK", "SNP anger at plan for Crown Estate handout", "Scottish Crown Estate assets transfer to Holyrood", "UK Crown Estate accused of 167 million 'cash grab' from Scottish purse", "Treasury Committee slates Crown Estate | Public Property UK", "List of Assets a Freedom of Information request to The Crown Estate", "Round 4 record investments bolster Crown Estate's revenue", "The Crown Estate Portfolio Scheme Index Completely Retail", "The Civil List and the Hereditary Revenues of the Crown", Chancellor of the Exchequer/ Second Lord of the Treasury, Commissioners for the Reduction of the National Debt, Agriculture and Horticulture Development Board, Department of Agriculture, Environment and Rural Affairs, Department for Environment, Food and Rural Affairs, Scottish Government Net Zero Directorates, National Farmers' Union of England and Wales, Institute of Biological, Environmental and Rural Sciences, Royal Highland and Agricultural Society of Scotland, Institute of Workplace and Facilities Management, Building regulations in the United Kingdom, Tenancy Deposit Scheme (England and Wales), Authorised Conveyancing Practitioners Board, https://en.wikipedia.org/w/index.php?title=Crown_Estate&oldid=1118316030, Statutory corporations of the United Kingdom government, Forests and woodlands of the United Kingdom, 1961 establishments in the United Kingdom, Organisations based in the City of Westminster, Short description is different from Wikidata, Articles with unsourced statements from February 2022, Articles containing potentially dated statements from 2020, All articles containing potentially dated statements, Wikipedia articles needing clarification from September 2014, Creative Commons Attribution-ShareAlike License 3.0, Property, residential, seabed management, real estate services, offices, and shopping centres, Lee Baron Group, Paragon Building Consultancy, Total Media Shares, Bowmark Capital, Hayden Capital Management, Imperial Capital International, Schulte Roth Zabel, Starwood Capital Europe Advisors, AMC Project Services, British Academy of Film & Television Arts (BAFTA), Calder, Clarity, Cologny Advisors, Finac Services, Gulf Oil International, Solon, Unilever Ventures. In First Bus the severe but plausible downside case assumes slower recovery of passenger revenues in the second half of FY23 and through FY24 and further inflationary cost pressures. News and Events. Overall passenger volumes increased by 29% compared with the prior period, underpinned by commercial volumes, whilst the pace of recovery in concessionary and peak-time commuter travel remains slower. The interim financial statements comprise: The interim financial statements included in the Half-Yearly Report of FirstGroup plc have been prepared in accordance with UK adopted International Accounting Standard 34, 'Interim Financial Reporting' and the Disclosure Guidance and Transparency Rules sourcebook of the United Kingdoms Financial Conduct Authority. Gresham House Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Copyright 2022 Surperformance. For the TOC sections, under the contractual arrangements with the DfT, the employers responsibility is to pay the contributions following triennial funding valuations while it operates the contracted services. AIB maintains representative offices in the United States in Chicago, Philadelphia, Atlanta, Los Angeles, and White Plains. Of the total consideration, 7.2m of cash was received at completion, with the remaining 5.0m of cash to be received over the next three years. The Board, having carefully evaluated this proposal together with its advisers, concluded that the cash component significantly undervalued FirstGroup's continuing operations and its future prospects, and the contingent value did not provide shareholders with sufficient certainty. [32] Faldor was an investment company set up in the British Virgin Islands that between 1989 and 1996 hold funds on behalf of these senior AIB executives as well as people connected to them. The tram was operated by Tram Operations Limited (TOL), a subsidiary of the Group, under a contract with a Transport for London (TfL) subsidiary. The discounted lease liability relating to the right of use assets included above is shown in note 14. The utilisation of 16.0m in H1 2023 (full year 2022: 43.0m) represents payments made largely against the current liability of the preceding year. The Groups adjusted performance is used to explain year-on-year changes when the effect of certain items are significant, including strategic items (including material M&A and group restructuring projects), costs of acquisitions including aborted acquisitions and impairment of assets. Join the discussion about your favorite team! Code of Conduct. Der zuvor nichtgeschftsfhrende BP-Direktor John Baring hatte zwischen 1992 und 1995 das Amt des Chairman inne. Stanbic IBTC is a member of the Standard Bank Group, an authorized financial services and registered credit provider. The total tax charge, including tax on discontinued operations, was 7.3m (H1 2022: 3.2m). The Corporate segment comprises large enterprises, which offers working capital needs, large scale development, property acquisition, large investments and acquisition of assets. The IAS 19 valuation is set out in the disclosures below. The group was formed through a 1970 merger of two leading Irish public companies, Cement Limited (established in 1936) and Roadstone Limited (1949). Standard Chartered Bank, kurz SCB, gelistet an der London Stock Exchange im FTSE 100, ist ein Finanzunternehmen aus Grobritannien mit Hauptsitz in London und Operationen in vielen Lndern, insbesondere in Asien und Afrika. [3] The act does not imply any legal change in the nature of the estate's ownership, but is simply a benchmark by which the sovereign grant is set as a grant by Parliament. But the Irish taxpayer bailed ICI out of its difficulties. The earnout is for a period of three years from 21 July 2021 and is calculated as a percentage of the Realised Equity Value. We continue to work collaboratively with our industry partners and stakeholders to enhance our service offering and to increase connectivity with other transport modes for our customers. Consisting of around 106,000 hectares (263,000 acres) across the UK, they also include 26,900 hectares (66,500 acres) of common land, principally in Wales. While the amount of the Grant will be linked to the profits of the Crown Estate, those profits will continue to be paid in to the Exchequer; they are not to be hypothecated. purchase a larger share in the property at the then market value), releasing bulk discounts to ReSI, Shared ownership opens the door to home ownership, Provides lifetime security of tenure through long-term leases, Creates additional sub-market rental homes. In April 2014 it was reported that the Crown Estate was proposing to sell about 200 of its 750 rural homes in the UK, and was evicting tenants in preparation. An investment in a VCT is for the long term. The letters of credit relate substantially to insurance arrangements in the UK and North America. Meanwhile we are confident that our experience and market position in rail stands us in good stead as this industry continues its evolution. 3 For definitions of alternative performance measures and other key terms, see the definitions section from page 17. Underlying cash flow in period in line with expectations. Rental payments are de-linked from the economy as tenants pay through their pensions, housing benefits, etc. the Condensed Consolidated Income Statement for the period then ended; the Condensed Consolidated Statement of Comprehensive Income for the period then ended; the Condensed Consolidated Cash Flow Statement for the period then ended; the Condensed Consolidated Statement of Changes in Equity for the period then ended; and. [38][39] The whistleblower who gave the Central Bank the information was requested to come to a meeting with them but was only invited to withdraw the allegations of wrongdoing and at the same time found himself removed from his position at AIB without any reason given. Greyhound US was therefore reported as a discontinued operation for the period to the sale completion in the financial statements for the 52 weeks to 26 March 2022. Hannah is a Chartered Surveyor and holds a Bachelors in building surveying from London South Bank University. [37][38], The balance which remained in Crown hands included the "undisposed lands" of the 1662 settlement (worth less than the small quit rent that a grantee would have had to pay) and the balance unsold by the trustees under the 1700 act at its 1703 time limit. Use of Cookies Accordingly, this report is to be read in conjunction with the annual report for the year ended 26 March 2022, and any public announcements made by FirstGroup plc during the interim reporting period. In the period, the installation of our evo-rail track-to-train superfast rail-5G technology across 70 kilometres of the SWR main line commenced, and international trials continued. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. Therefore, the Group does not need to reflect any deficit on its balance sheet. [44], On 19 July 2022, AIB announced that 70 of its 170 branches would become cashless due to "declining demand for these services" by October 2022. [0,-10905,2734553,"Early summer bunnies' dollars lifts Kenya's forex reserve","The Star Kenya"], Firm Type: Authorised Firms. Get all the latest India news, ipo, bse, business news, commodity only on Moneycontrol. The shares were sold at US$77.50 per share and generated $2.1billion. February 14, 2015. Prospective investors should refer to the detailed risk warnings in the relevant prospectus, but key risks are set out below. Where appropriate, such Regulated Information will be approved as a financial promotion by Gresham House Asset Management Limited, which is authorised and regulated by the Financial Conduct Authority with financial services register reference number 682776. The tax rules or their interpretation in relation to an investment in the VCTs and/or rates of tax may change during the life of the VCTs and any such changes can be retrospective. There is a clear distinction between each division and no judgement is required to identify each reportable segment. Following the award of an up to six-year National Rail Contract to Great Western Railway (GWR) in June 2022, in October 2022 we agreed with the Department for Transport (DfT) an extension of the current contractual arrangements for the West Coast Partnership (WCP) to March 2023. Land that has no owner other than the Crown as. [35] This revealed excess charges of 34.2million, including interest. The estate recently purchased the new Rushden Lakes site in Northamptonshire from its developers. Any decision to purchase securities or interests must be based solely on the information contained in the documents relating thereto, which must be received and reviewed in full, prior to making any investment decision. [47], It was not until 1830 that King William IV revoked the income from the Crown estates in Scotland. [77], In December 2010, the European Commission approved the plans, and the Government passed emergency legislation to allow the deal to take place without requiring the approval of existing shareholders. Oliver is an Associate Director at Gresham House, Oliver is an Associate Director at Gresham House, following the acquisition of TradeRisks in March 2020. 5 Investment income and finance costs. 'Net debt' is the value of Group external borrowings excluding the fair value adjustment for coupon swaps designated against certain bonds, excluding accrued interest, less cash balances. [0,-198517,2734455,"It's illegal for CoB to access counties' accounts - Waiguru","The Star Kenya"], AIB was delisted from the main market of the Irish Stock Exchange on 25 January 2011[3] and the NYSE on 26 August 2011. The PRAs audited accounts for the reporting year ending Monday 28 February 2022 are set out on pages 206-215 of the Bank of England Annual Report and Accounts. Management have concluded that these amounts represent financial assets under IAS 32. [14] While Windsor Home Park is also part of the Crown Estate, occupied royal palaces, such as Windsor Castle itself, are not part of the Crown Estate, but are managed through the Royal Household. The table below is set out to show amounts charged/(credited) to the condensed consolidated income statement along with the amounts included in the condensed consolidated balance sheet arising from the fair value of schemes' assets (Assets) and the present value of defined benefit obligations (DBO) (Liabilities) for the North American defined benefit schemes: During FY22, the Group transferred responsibility for the FirstGroup America (US) and Supplementary Executive (Canada) schemes. Our responsibility is to express a conclusion on the interim financial statements in the Half-Yearly Report based on our review. In its annual reports on progress against the targets set in the 25 Year Environment Plan, DEFRA identifies the major pressures that cause water bodies to fail to achieve good ecological status. The Crown Estate Commissioners, who comprise the main board, are approved by the monarch on the advice of the Prime Minister. [citation needed] In 2008 AIB operated through its local branches providing financial services under established AmCredit brand in all three countries. We currently estimate the earnout consideration will be around 74m based on the information received on the sale by EQT and accordingly, we have recorded a non-cash loss of 27.9m relative to the previous carrying value of the earnout. Peace of mind in your pocket - Insurance packages at your fingertips. At the end of the franchise, any deficit or surplus in the scheme section passes to the subsequent train operating company with no compensating payments from or to the outgoing TOC. Zum 1. The South Asian nation may lose its world-beating growth distinction as demand may be impacted by borrowing costs that have returned to pre-pandemic levels after 190 basis points of key rate increases since May to tame inflation. Rupert Robinson has been the Managing Director of Rupert Robinson has been the Managing Director of Gresham House Asset Management Ltd since September 2015. The condensed consolidated interim financial statements do not include all of the notes of the type normally included in an annual financial report. The figures for the 26 weeks to 25 September 2021 (the 'prior period' or 'H1 2022') include the results and financial position of the First Rail business for the period ended 18 September 2021 and the results of all other businesses for the 26 weeks ended 25 September 2021. News Releases. Approximately 55% of the UK's foreshore is owned by the Crown Estate; other owners of UK foreshore include the. [33] Faldor subsequently benefited from inappropriate deal allocations, and artificial deals that amounted to 48,000 out of AIB Investment Managers' own funds. Statutory profit before tax (continuing basis) was 37.0m (H1 2022: loss of (64.5)m). Any decision to purchase securities or interests must be based solely on the information contained in the documents relating thereto, which must be received and reviewed in full, prior to making any investment decision. Allied Irish Banks is usually referred to, both inside and outside the company, simply as AIB and often by its trade name of "Allied Irish Bank" (singular). All non-distributable cash in franchised Rail subsidiaries is considered ring-fenced under the terms of the National Rail Contracts and ERMAs. Provides fit-for-purpose homes for retired people, allowing them to maintain their independence without care provision, Living with peers helps address loneliness, the largest health problem for an elderly population, Renting avoids the burdens and transaction costs of ownership and assured tenancy leases provide lifetime security of tenure, Leased directly to local authorities who have a statutory duty to house those at risk of homelessness, Focus on areas with most need for accommodation and strong supply/demand dynamics, Rent around market levels to minimise downside if local authority does not renew lease, Provides homes to those who are homeless or at risk of homelessness, Savings to local authorities versus bed and breakfast accommodation of 200 per week per unit*, ReSI plc acts as an institutional landlord, ensuring standards of accommodation are maintained. Legacy Greyhound liabilities (comprising residual insurance and pension liabilities which FirstGroup expects to de-risk in due course) and other provisions total c.$35m. The Bank of England Annual Report and Accounts for the year ending Monday 28 February 2022 is available on the Bank of Englands (the Banks) website. AIB failed to comply with the law for a period of almost 8 years and that certain staff and management were fully aware of this at the time. The statutory funding valuations of the various Rail Pension Scheme sections in which the Group is involved (last finalised with an effective date of 31 December 2013) and the IAS 19 actuarial valuations are carried out for different purposes and may result in materially different results. Database of ICSID Member States. The comparative figures for the 52 weeks ended 26 March 2022 include the financial position of the First Rail division at 31 March 2022 and the financial position of the other divisions at 26 March 2022. Also included are provisions in respect of costs anticipated on the exit of surplus properties which are expected to be settled over the remaining terms of the respective leases and dilapidation and other provisions in respect of contractual obligations under rail franchises and restructuring costs. Given the current levels of inflation, trade deficit and fiscal deficit, it would be better to consolidate for now rather than push for extra growth by stimulating domestic demand.. The two sets of proceedings are being heard together. In addition to any other risk factors contained within Regulated Information available on this web site, investors should note that investments referred to on this website place investors capital at risk and could result in a total loss of capital. 9 Property, plant and equipment, 9 Property, plant and equipment (continued). [41], Apart from FX, the Central Bank of Ireland discovered in 2004, following an anonymous tip-off, that AIB overcharged customers 8.6million. The accompanying notes form an integral part of this consolidated statement of comprehensive income. The operating and financial review considers the impact of seasonality on the Group and also the principal risks and uncertainties facing it in the remaining six months of the financial year. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. 19 Net cash from operating activities. [1,-634495,2733982,"Drought committee raises over Sh592 million","The Star Kenya"], Long-term investment and liquidity risks Juli 1995 bernahm David Simon den Stuhl. As a precautionary measure, after the period end the Group agreed to make 95m from the Limited Partnership created following the sale of the North American divisions (the escrow) available to the Scheme to assist with liquidity management. We have continued to develop our pricing and yield management strategy, resulting in a shift towards shorter term products such as lower entry single and return fares, and updated weekly and monthly discounts being implemented across our operations. 2021 ANNUAL RESULTS HIGHLIGHTS See full results. This version of the logo is no longer used in print advertising but can still be seen on the faades of most AIB branches in the Republic. There has been no material change as a result of applying these amendments. Andy is Chief Financial Officer of Standard Chartered plc, which he joined in July 2014 after 15 years at Vodafone Group plc, nine of which were spent as Chief Financial Officer. to improve functionality on our website and to help us to identify issues you may have when accessing our website. Adjusted cash flow is stated prior to cash flows in relation to debt excluding leases. The Group had the following lease liabilities at the balance sheet dates: The Group had the following asset backed financial liabilities at the balance sheet dates: Certain pension partnership structures were implemented during the previous financial year. [0,-203910,2734450,"KRA to auction goods belonging to liquor firm London Distiller","Business Daily"], [37] Responsibility lay with the Quit Rent Office, which was absorbed in 1827 by the Commissioners of Woods, Forests and Land Revenues. No Hidden Charges. May the gift of love, peace, joy and happiness be with you this season and beyond, Digital Skill Empowerment Programme (DiSEP), Our assurance services will make you feel secure. News & Events . The Small and Medium Enterprises segment provides working capital needs, property development or acquisition of assets. [67], On 12 February 2009 the Irish government arranged a 7billion rescue plan for AIB and Bank of Ireland. Westgate Shopping Centre in Oxford and Princesshay Shopping Centre in Exeter are a 50:50 joint venture partnership with Land Securities. These revenues were of two kinds:[26], After the Glorious Revolution, Parliament retained under its own control the greater part of the temporary revenues, and relieved the sovereign of the cost of the naval and military services and the burden of the national debt. Michael is a dual-qualified solicitor active in corporate finance since 2005 and holds an LLB (Hons) from University College London. Find the latest Standard Chartered PLC (STAN.L) stock quote, history, news and other vital information to help you with your stock trading and investing. The accounting policies applied are consistent with those described in the Groups latest annual audited financial statements, except for income tax which at the interim is based on applying expected full year effective tax rates to the interim results. This reflects the legal position that some of the existing deficit and some of the service costs in the current year will be funded in future years beyond the term of the current franchise and committed contributions. We are the first and leading custodial and investor services company in Nigeria for non-pension assets. Rights to extract minerals covers some 115,500 hectares (285,500 acres). A change of UK Government transport policy could also lead to the renationalisation of our First Rail operations as the expiry dates of our various agreements with the DfT are reached. London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. Financial information relating to the discontinued operation for the period to the date of disposal (21 July 2021) was presented in the Groups FY22 Annual Report. The Pavilions, Bridgwater Road, Bristol BS99 6ZZ, T: 0370 889 3181 "Sinc [0,0,2734568,"Jamhuri Day focus should kick-start campaign to build innovation culture","Business Daily"], Innovation and adjacent rail opportunities. [1,-641108,2733976,"Cherotich and Kemboi bag Chemususu Half Marathon Kenya News Agency","Kenya News Agency"], 15 Lease liabilities and asset backed financial liabilities. All our products and services are based on a set of values that uphold the empowerment of our customers. Revenue from continuing operations increased to 2,212.4m (H1 2022: 2,139.1m), principally reflecting increased passenger volumes partly offset by lower receipts from government grants in First Bus, and in First Rail increased revenue across open access, additional services and management-fee based operations. 1 Basis of preparation (continued). These cookies are always on as they are critical to the website functioning correctly. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 90% of its profits come from Asia, Africa, and the Middle East.. Standard Chartered has a primary listing on the London Stock Rescue tomorrow - Track your pensions on the go. No employee or officer of the banks was disciplined. {"reload":0,"stamp":1670588702,"track":18835094,"time":"3:25 PM EAT","update":0,"klass":"c1","market":"closed","data":["45.00","0.05 (0.11%)","45.05","45.00","45.00","46.80","44.50","131,700","5.92M","38","169.82B","3:25 PM EAT","44.50","46.00","2,000","3,800","20,500","50,000"]}, Partial functionality / Data Quotes delayed , {"b":1670792505,"news":[[1,0,2734555,"NSE in 2023 through the lens of a city kiosk owner","Business Daily"], He is also chair of The Good Home Inquiry, co-chair of #Housing 2030, a joint project for Housing Europe and UNECE, and a member of the Archbishop of Canterburys Housing, Church and Community Commission. The difference in the number of shares between the basic calculation and the diluted calculation represents the weighted average number of potentially dilutive ordinary share options. Calls outside the United Kingdom are charged at the applicable international rate). Database of ICSID Member States. A trial date has not yet been set. Databases. [0,0,2734557,"Centum pays dollar loans to cut costs over a weak shilling","Business Daily"], The dilapidation provisions are expected to be settled at the end of the respective franchise. Hereditary properties of the monarch currently in government use will revert to the Crown Estate in the event of the government use ceasing. July 2022 (declared) 1.29p, Audit Committee Terms of Reference 2021 >>, PID declaration of eligibility (intermediary) 14 August 2018 >>, PID declaration of eligibility (beneficiary) 14 August 2018 >>, Publication of Prospectus 22 June 2017 >>. Equity Group holdings. [1,-619712,2733990,"Starting a cashew processing factory in Tanzania: My experience","How we made it in Africa"], 'EBITDA is adjusted operating profit less capital grant amortisation plus depreciation. Past performance is not indicative of future events. 3 Reconciliation to non-GAAP measures and performance (continued). As a result, and to avoid pecuniary embarrassment, he was granted a fixed civil list payment and the income retained from the Duchy of Lancaster. Microsoft pleaded for its deal on the day of the Phase 2 decision last month, but now the gloves are well and truly off. In aggregate, profits on sale of c.$90m (net of property tax, selling and other costs) are expected to be booked over the course of the financial year. Management considers that this overall basis more appropriately reflects operating performance and provides a better understanding of the key performance indicators of the business. The Groups operations are required to comply with a wide range of regulations, including environmental and emissions regulations. Group adjusted attributable EBITDA and operating profit. The Scottish NSG+ scheme provides operators with a fixed payment per km operated. Between 1989 and 1996, funds of certain senior executives of AIB at the time and/or related parties were managed by Allied Irish Investment Managers Limited (now AIBIM) through a British Virgin Islands investment company, Faldor Ltd.. Faldor benefited from inappropriate favorable deal allocations, by way of artificial deals, amounting to approximately IR38,000 (48,000) out Please read our online privacy and cookie policy which is available on our website. In September 2022 the DfT announced 60m of funding in order to cap adult regional bus fares in England at 2 between January and March 2023. [citation needed], In 1864, the Munster Bank was established. The company operates through three segments: Consumer, Small & Medium Enterprises and Corporate. (a) UK Bus and Group (including Hull Trains). Overview. Former Labour Party leader Pat Rabbitte called for more competition in the Irish banking sector. For example, our capabilities and experience in First Bus can be deployed more proactively into bus franchising, business to business (B2B) contracted services (including employee shuttle), as well as new revenue opportunities allied to the electrification of our fleets and depots. News and Events. Contact 22 Contingent liabilities (continued). The tax charge on adjusted profit before tax including discontinued operations for the period was 6.1m (H1 2022: 21.6m), representing an effective tax rate of 18.5% (H1 2022: 20.8%). Barclays traces its origins back to 17 November 1690, when John Freame, a Quaker, and Thomas Gould, started trading as goldsmith bankers in Lombard Street, London.The name "Barclays" became associated with the business in 1736, when Freame's son-in-law James Barclay became a partner. [1,-81051,2734515,"KCB beat champions Prisons in final leg of league action","The Standard"], The division reported a statutory operating profit of 55.4m (H1 2022: 43.2m). price) which can reasonably be obtained in all the circumstances, but discounting any monopoly value (mainly from ownership of the foreshore and seabed). ATMs were only available in cities and major towns in the 1980s but arrived into smaller and medium towns during the 1990s. Get local and international financial report, analysis, commentary, banking news and all the stories you want to know. In H1 2023, higher than anticipated inflation impacted a number of our key input costs, including pay, fuel and utility costs. In November 2010, AIB sold its 22.5% stake (26.7million shares) in M&T. In August 2006 the bank again announced record profits for the first half of 2006, making 1.2billion before tax, equating to 1.2million per hour. Zum 1. In return, he received an annual grant known as the Civil List. The West Coast Partnership (WCP) has been operating under an Emergency Recovery Measures Agreement (ERMA) which was put in place by the DfT in September 2020. ICSID Caseload Statistics. the Condensed Consolidated Balance Sheet as at. "[44] By 2016 it had an income of 1.4m, from cables, pipelines and windfarms on the foreshore, and goldmining in County Tyrone. ReSI plc aims to achieve this through meeting demand from housing developers (housing associations, local authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial affordable housing. We use a progressive forward hedging programme to manage commodity risk. Since the obligations to the TOC arrangements are considered to be limited to contributions during the period of the contract, these are fundamentally different to the obligations to the other pension arrangements. [0,-259205,2734373,"New Africa exchange link eases foreign stake buying","Business Daily"]]}, Payment of KES 3.00 first and final dividend, Kenya Power and Lighting Co. Plc 4% Preferential, Kenya Power and Lighting Co. Plc 7% Preferential. Past performance is not indicative of future events. In October an extension of the current contract arrangements was agreed for the West Coast Partnership to March 2023, and discussions are ongoing with DfT regarding the longer-term National Rail Contract for the West Coast Partnership. He is a member of the Group Management and Investment Committees. The Crown Estate is a collection of lands and holdings in the United Kingdom belonging to the British monarch as a corporation sole, making it "the sovereign's public estate", which is neither government property nor part of the monarch's private estate.. The Bus Pension Scheme was able to maintain its high level of hedged protection against interest rate and inflation risks throughout this volatile period. For a full summary of the Principal Risks and Uncertainties facing the Group, please refer to the Annual Report and Accounts 2022 at https://www.firstgroupplc.com/investors/annual-report-2022.aspx. The agreement will allow the team at Avanti West Coast to sustain their focus on delivering their robust plan to restore service levels to the levels that passengers expect. [64] Write downs by the domestically owned Irish banks are only now beginning to take place. [0,-203930,2734486,"AfDB, ASEA Launch Platform to Link Nigeria, Six Other Capital Markets","Business Post Nigeria"], 1 Represents the Group's share of the management fee income available for dividend distribution from the GWR, SWR, TPE and WCP (incorporating Avanti West Coast) contracts with DfT on a pre-IFRS 16 basis net of tax and minority interests as described in more detail on page 12. The massive immigration from Eastern Europe which had propped up demand has now reversed due to rapidly rising unemployment in Ireland. Stanbic IBTC Pension Managers presents FUZE. The adjusted EPS is intended to highlight the recurring results of the Group before amortisation charges and certain other adjustments as set out in note 3. The adjusted cash flow is set out below: Non-First Rail cash capital expenditure was 46.8m, all of which related to First Bus (H1 2022: 114.5m, comprising First Bus 8.7m, Group items 0.4m, First Student 72.6m, First Transit 21.8m and Greyhound 11.0m). Resilient performance with Group adjusted attributable profit in line with management expectations. 2021 ANNUAL RESULTS HIGHLIGHTS See full results. U.S. sports platform Fanatics has raised $700 million in a new financing round led by private equity firm Clearlake Capital, valuing Fanatics at $31 billion. He is responsible for due diligence on residential acquisitions and operational performance by ReSIs property managers and leaseholders. Following a bumpy launch week that saw frequent server trouble and bloated player queues, Blizzard has announced that over 25 million Overwatch 2 players have logged on in its first 10 days. In rail we also have notable successes such as our Lumo open access service, which in its first year of operation has already served a million passengers, many of whom would otherwise have flown between London and Edinburgh at a far greater environmental cost. Nevertheless, we have made progress in the period with several of the key drivers that will support improvement in bus margins once the sector transitions to a more commercial model, including yield and pricing actions, network realignment and the sale of First Scotland East. Having acquired the 50% of Somerset Passenger Solutions (SPS) that we did not own in FY 2022, in H1 2023 we agreed a five year extension to our contract to provide passenger transport for the construction workers employed at the EDF Hinkley Point C nuclear power station. Significant events in relation to the change in the financial position and performance of the Group: On 26 October 2022, EQT Infrastructure announced its agreement to sell First Transit to Transdev North America, Inc. As part of the First Transit disposal to EQT Infrastructure, FirstGroup is entitled to an earnout consideration. This data is not used to target you with advertising. [47][48][49][50] On 21 July, Government TDs sought an emergency meeting with Minister for Finance Paschal Donohoe regarding the move. First Rail gross capital investment was 1,032.2m (H1 2022: 44.9m). "[57], This includes the entirety of Regent Street and around half of St James's in London's West End as well as retail property across the UK in locations including Oxford, Exeter, Nottingham, Newcastle, Harlow, and Swansea. Sein Nachfolger im Juni 1997 wurde Peter D. Sutherland, welcher zum [62] This does not appear to be consistent with the real negative changes taking place in property market fundamentals. The sale is subject to customary conditions, including regulatory and antitrust clearance processes in the US and Canada. 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