Hilton Food Group H1 Adj. Pretax Profit Rises; Turnover Up 38.6% – Quick Facts

‘My Cousin Vinny’ director Jonathan Lynn lists Manhattan condo

“My Cousin Vinny” director Jonathan Lynn and his wife Rita have put their Hit Factory loft on the market for $2.89 million.

The three-bedroom, three-bathroom unit is on the fifth floor of 421 W. 54th St.

The historic recording studio in Hell’s Kitchen is where legends like the Rolling Stones, Billy Joel, Bruce Springsteen, John Lennon, Stevie Wonder and Madonna recorded their hits.

By 2005, the studio had closed. It got transformed into luxury condos a year later.

The famed spot was back in the news in 2012, when former New York Knicks star Carmelo Anthony and his wife La La Vázquez moved into the penthouse.

The Lynns bought their unit in 2013 for $2.82 million, according to property records.

The 2,378-square-foot unit opens with a large foyer that leads to a living/dining area with a gas fireplace and an open chef’s kitchen with two pantries and a breakfast bar. (The room set up as a home office features a “My Cousin Vinny” poster, per listing photos.)

The residence also features 11-foot ceilings, large windows, hardwood floors and a private bedroom wing.

Building amenities include a gym, a package room, private storage and a roof deck.

The listing broker is Douglas Elliman’s Steven Cohen.

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Lavish East Hampton compound on the beach in contract for $70M

A stunning waterfront compound in East Hampton is in contract for around $70 million, sources tell Gimme Shelter.

If it sells for that price, it would be the most expensive Hamptons sale of 2020 — a year in which the coronavirus pandemic pushed area demand (and sales prices) to record highs.

The sprawling estate at 12 and 15 W. Dune Lane features two properties along the Atlantic Ocean, all on 3.4 acres beside a 90-acre golf course.

Located on “one of the most desirable streets in town,” the compound has ample frontage on Wiborg Beach between East Hampton Main Beach and Egypt Beach.

The main house, designed by famed architect Robert A.M. Stern in 2000, is 8,000 square feet and comes with a waterfront pool on 2.4 acres.

But there’s also an “interior property,” as described in the listing, that is 6,000 square feet and comes with its own separate pool, all on a single acre.

There are 14 bedrooms and 15½ bathrooms in total.

The listing brokers, Ed Petrie, James Petrie and Charles Forsman, of Compass, declined to comment.

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Louis Vuitton’s LVMH beefs up legal team in fight over Tiffany merger

The battle between the two retailers kicked off earlier this month when LVMH said it wouldn’t be able to complete its $16.2 billion merger of the New York jeweler featured in the 1961 flick “Breakfast at Tiffany’s,” by the Nov. 24 deadline. In a statement, LVMH said the French government had instructed it in a letter to wait until Jan. 6 of next year to close the deal in response to the US’s threat to impose tariffs on French goods.

Tiffany has sued LVMH in Delaware to force it to meet the Nov. 24 deadline because once the merger agreement expires, LVMH can seek to lower the price or walk away.

LVMH, which declined to comment, has said it is doing all it can to close the deal.

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IT firm Happiest Minds more than doubles in market debut

The price band for the offer, which closed for subscription on last Wednesday, was fixed at ₹165-166 per equity share.

Shares of Happiest Minds Technologies Ltd were off to a flying start on domestic bourses on Thursday as they got listed with a premium of over 111 per cent against an issue price of ₹166 per share.

The stocks of the IT services firm listed at ₹351 apiece, reflecting a gain of 111.14 per cent from the issue price on the BSE. Later, they rose to a high of ₹395 – a jump of 137.95%.

On the NSE, they opened at ₹350 apiece, zooming 110.84% against the issue price.

The ₹702-crore initial public offering of Happiest Minds Technologies, promoted by Ashok Soota, garnered massive response from investors as it was subscribed a whopping 151 times.

The price band for the offer, which closed for subscription on last Wednesday, was fixed at ₹165-166 per equity share.

ICICI Securities and Nomura Financial Advisory and Securities (India) were the managers for the offer.

IG Group Q1 Net Trading Revenue Surges 62%

IG Group Holdings plc (IGG.L) reported a 62% growth in its first-quarter net trading revenue that amounted to £209 million compared to £129.1 million last year, driven by a combination of continued high levels of trading activity from existing clients and growth in the active client base.

Total active clients were 201,500 for the quarter, 50% higher than the previous year’s 134,100. The company further noted that 134,800 clients traded OTC leveraged products in the quarter versus 92,300 reported last year.

First-quarter revenue in the Core Markets was £170.8 million, up 56% compared to £109.4 million a year ago. Performance of the Retail client base in UK and Europe was particularly strong, with growth delivered in both revenue per client and number of active clients.

Revenue in the Significant Opportunities portfolio was £38.2 million, up 94% on the prior year’s £19.7 million and is on track to deliver the medium-term target of £100 million in revenue growth from this portfolio by the end of FY22, the company said.

Hilton Food Group H1 Adj. Pretax Profit Rises; Turnover Up 38.6% – Quick Facts

Hilton Food Group Plc (HFG.L) reported profit before tax of 24.0 million pounds for the 28 weeks to 12 July 2020 compared to 19.9 million pounds, previous year. Earnings per share was 22.1 pence compared to 17.2 pence. Adjusted profit before tax increased to 28.1 million pounds from 24.5 million pounds. Adjusted earnings per share was 25.6 pence compared to 22.5 pence.

First half revenue was 1.26 billion pounds compared to 912.1 million pounds, last year. Volume growth was 22.6% attributable to the Group’s new Australian facility, UK and increased home consumption driven by Covid. Turnover increased by 38.6% and by 40.0% on a constant currency basis driven by higher volumes.

The Directors have approved the payment of an interim dividend of 7.0 pence per ordinary share. This interim dividend will be paid on 27 November 2020 to shareholders on the register at close of business on 30 October 2020.