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Bellpenny has agreed a deal to acquire the business of Winchester-based IFA City Wealth Management for an undisclosed sum. The acquisition adds £31m in assets under advice and sees 100 active clients transfer over to Bellpenny. City Wealth Management adviser and director Andrew Gibson will not be joining Bellpenny, but will work with Bellpenny to […]
At the end of my series on deeds of variation I would like to consider some of the relevant case law. The first is Lau v HMRC 2009. The case of Mrs Maynard Lau (the Executrix of Werner Lau Deceased) v HMRC  Spc 0740 (18 March 2009) before the Special Commissioners illustrates the principle […]
The Money Advice Service’s directory of at-retirement advisers has been branded “not fit for purpose” after it launched with a number of technical issues. The directory is in beta mode and features 4,500 advisers from 1,200 firms. Those using the Government’s Pension Wise guidance service will be pointed to the directory if they wish to […]
I have been reading the commentary and social media activity around the recent BACK2Y conference with huge interest. I should probably declare some interests here. I went to the first conference last year and would have gone again this year if not for a diary clash. I have known and respected founder Paul Armson for […]
By Ali Unwin, head of technology sector research
Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.
At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.
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