The Isle of Wight ferry companies – Red Funnel and Wightlink – are owned by large investment companies.
Red Funnel became owned in 2007 by Infracapital, itself owned by Prudential. Wightlink was bought in 2005 by the Macquarie European Infrastructure Fund (MEIF) – Macquarie being an Australian bank.
The main company Macquarie owns many companies (as you can see from those owned just by MEIF).
Earning forecast lowered
Investment bank UBS has lowered, by 20 per cent, its forecasts for Macquarie’s first half earnings.
The report has comment from John Curtin, associate director with Patersons Securities, saying that the move follows recent downgrades for other large investment banks, continuing, “With what’s going on in Europe it’s going to be tough for investment banks to generate large profit growth.”
