Constance La Gaiete Company Limited (CSE.mu) HY2014 Interim Report

first_imgConstance La Gaiete Company Limited (CSE.mu) listed on the Stock Exchange of Mauritius under the Agri-industrial sector has released it’s 2014 interim results for the half year.For more information about Constance La Gaiete Company Limited (CSE.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Constance La Gaiete Company Limited (CSE.mu) company page on AfricanFinancials.Document: Constance La Gaiete Company Limited (CSE.mu)  2014 interim results for the half year.Company ProfileConstance La Gaiete Company Limited is headquartered in Port Louis and is involved in the farming and production of sugarcane. Constance La Gaiete Company Limited’s activities in the agro industry include the production of food crops, fruits (principally pineapples), and livestock (mainly broiler chicken). The company is also involved in real estate projects. Constance La Gaiete Company Limited is listed on the Stock Exchange of Mauritius.last_img read more

Custodian and Allied Insurance Plc (CUSTOD.ng) 2016 Annual Report

first_imgCustodian and Allied Insurance Plc (CUSTOD.ng) listed on the Nigerian Stock Exchange under the Insurance sector has released it’s 2016 annual report.For more information about Custodian and Allied Insurance Plc (CUSTOD.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Custodian and Allied Insurance Plc (CUSTOD.ng) company page on AfricanFinancials.Document: Custodian and Allied Insurance Plc (CUSTOD.ng)  2016 annual report.Company ProfileCustodian & Allied Insurance Plc is an investment holding company in Nigeria offering insurance and reassurance solutions for life and non-life cover. The company has significant holdings in Custodian & Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees and Crusader Sterling Pensions Limited. Personal products and services cover motor vehicles, travel, boats and yachts, personal accident, home owners and personal all risks insurance. Business products range from insurance cover for motor vehicles, marine cargo and hull to fire/special perils, business interruption, occupiers liability and healthcare professional indemnity insurance. The company’s head office is in Lagos, Nigeria. Custodian & Allied Insurance Plc is listed on the Nigerian Stock Exchangelast_img read more

Kenya Commercial Bank Limited Group (KCB.ug) HY2017 Interim Report

first_imgKenya Commercial Bank Limited Group (KCB.ug) listed on the Uganda Securities Exchange under the Banking sector has released it’s 2017 interim results for the half year.For more information about Kenya Commercial Bank Limited Group (KCB.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Commercial Bank Limited Group (KCB.ug) company page on AfricanFinancials.Document: Kenya Commercial Bank Limited Group (KCB.ug)  2017 interim results for the half year.Company ProfileKenya Commercial Bank Limited (KCB Group) is a leading financial institution offering retail and corporate banking services in Uganda through its subsidiary company. KCB Group offers financial solutions ranging from current accounts, overdrafts and loans to fixed and short-term deposits, mortgage finance, trade finance and forex, and business investment accounts. The banking institution participates in investments in treasury bills and bonds with the central banks. Wholly-owned subsidiaries in the banking group include Kenya Commercial Finance Company Limited, Savings & Loan Kenya Limited, Kenya Commercial Bank Nominees Limited, Kencom House Limited, KCB Tanzania Limited, KCB Sudan Limited, KCB Rwanda SA and KCB Uganda Limited. Kenya Commercial Bank Limited is listed on the Uganda Securities Exchangelast_img read more

Penny stocks: 1 to buy for June

first_imgPenny stocks: 1 to buy for June Our 6 ‘Best Buys Now’ Shares Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this. One FTSE “Snowball Stock” With Runaway Revenues I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address Penny stocks can be seen as risky investments. They can be priced low for a reason. With that in mind, however, I believe some FTSE options could lead to generous returns longer term, especially with the economy reopening in full swing. 1 FTSE 250 option I likeMitie (LSE:MTO) is the UK’s leading facilities management and professional services company. It looks after over 2.5m worth of assets with its 50,000-plus workforce. It is also one of Britain’s largest government contractors. With its large footprint, workforce, and the fact it plays a vital role in the UK government’s infrastructure, I believe it could be one of the top FTSE penny stocks out there.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…As I write, I can buy shares in Mitie for 69p per share. Rewind to one year ago, and it was trading for 41p, which indicates close to a 70% increase. The market crash had an adverse impact on most stocks, and even more so on penny stocks. Mitie’s share price fell from 74p to 32p, which is a 56% decrease. Based on its current price, I believe it is beginning to recover from the crash and that it will continue to climb too.Recent performanceMitie’s most recent trading update was a third-quarter update released back in January. An announcement on fourth-quarter and preliminary full-year results is expected at the end of next month. In the Q3 update, it confirmed revenue rose over 6%, in part due to restrictions easing over the summer. This will be due to Mitie’s key role in the government’s fight against Covid-19 and its multiple support contracts.Overall, for the nine months to December, Mitie reported a decrease in revenue of 4.3% year-on-year. The overall figure stood at £1.55bn. This was due to a Ministry of Justice contract it lost and an active NHS Properties contract that was reduced in scope.Despite this, Mitie reported its satisfaction with results that exceeded expectations. Approximately £770m worth of new contracts were won in the nine months to December. It also confirmed it is expecting to exceed forecasts in its next set of results, which I like to hear.Penny stocks have risks and rewardsI have a few concerns over Mitie based on its debt level and a questionable track record. Its level of total liabilities and conversion of EBIT (earnings before interest and taxes) to free cash flow definitely weigh it down, in my opinion. But the good news is it seems to be able to grow its EBIT with ease with new contract wins and new business.Next, the Covid-19 pandemic could continue to disrupt Mitie. In its trading update, it confirmed that Q4 trading is expected to be lower than Q3. In my eyes, this is no doubt linked to the fact we were in lockdown for the most of winter, and for all we know, there could be further lockdowns ahead if new Covid-19 variants occur.Despite the obvious risks, I do like Mitie as one of my penny stocks choices. A couple of months ago, some insiders were buying shares. I usually take this as a sign of confidence. It is priced well and is still increasing. I wouldn’t be surprised if after next month’s results, its share price were to increase. I am seriously considering adding Mitie to my portfolio in June.center_img Jabran Khan has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. See all posts by Jabran Khan Grab your free report – while it’s online. Image source: Getty Images Jabran Khan | Monday, 24th May, 2021 | More on: MTO Looking for new share ideas?Grab this FREE report now.Inside, you discover one FTSE company with a runaway snowball of profits.From 2015-2019…Revenues increased 38.6%.Its net income went up 19.7 times!Since 2012, revenues from regular users have almost DOUBLEDThe opportunity here really is astounding.In fact, one of its own board members recently snapped up 25,000 shares using their own money… So why sit on the side lines a minute longer?You could have the full details on this company right now.last_img read more

International forum calls for joint church action to end nuclear…

first_img Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Priest Associate or Director of Adult Ministries Greenville, SC Director of Music Morristown, NJ Rector Pittsburgh, PA Anglican Communion Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Featured Events Curate (Associate & Priest-in-Charge) Traverse City, MI The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Rector Albany, NY Featured Jobs & Calls New Berrigan Book With Episcopal Roots Cascade Books TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab [Anglican Communion News Service] An international forum set up by the Nippon Sei Ko Kai (NSKK) – the Anglican Communion in Japan – has issued a statement this week calling for denuclearization and for churches to join in the campaign for natural energy.The statement, following a gathering in May, says: “the Tokyo Electric Power Company Fukushima Daiichi Nuclear Power Station disaster and subsequent damage which occurred as a result of the March 11, 2011 Great East Japan Earthquake completely shattered the myth of safety and made us aware of the extreme danger of nuclear power generation.”It states that as long as nuclear power generation is operative, it continues to create dangerous radioactive waste and there is a risk that the technology can at any time be diverted to nuclear weapons and threaten the right to live in peace.Read the full article here. Rector (FT or PT) Indian River, MI Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Assistant/Associate Rector Washington, DC AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Rector Shreveport, LA Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Associate Rector for Family Ministries Anchorage, AK Rector Smithfield, NC Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Rector/Priest in Charge (PT) Lisbon, ME Rector Bath, NC Rector Washington, DC Course Director Jerusalem, Israel Submit a Job Listing Director of Administration & Finance Atlanta, GA Cathedral Dean Boise, ID Youth Minister Lorton, VA Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET International forum calls for joint church action to end nuclear energy development Associate Rector Columbus, GA This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Bishop Diocesan Springfield, IL Rector Tampa, FL Press Release Service An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Priest-in-Charge Lebanon, OH Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Rector Hopkinsville, KY In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 Canon for Family Ministry Jackson, MS Associate Priest for Pastoral Care New York, NY By Rachel FarmerPosted Jul 26, 2019 Rector Knoxville, TN Tags Assistant/Associate Priest Scottsdale, AZ Rector and Chaplain Eugene, OR Submit a Press Release Rector Collierville, TN Assistant/Associate Rector Morristown, NJ Rector Martinsville, VA Missioner for Disaster Resilience Sacramento, CA Family Ministry Coordinator Baton Rouge, LA The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group Submit an Event Listing Rector Belleville, IL Curate Diocese of Nebraskalast_img read more

Protests follow Cleveland police shooting spree

first_imgMalissa Williams & Timothy RussellCleveland — Police shootings of unarmed Black “suspects” are sadly all too common nationwide. But firing 137 bullets to stop a car with two occupants may have set a record.On the night of Nov. 29, 13 officers chased a car driven by Timothy Ray Russell, 43, from downtown Cleveland through the city of Bratenahl to East Cleveland, a 26-minute chase. Malissa Williams, 30, was a passenger in the car. Both Williams and Russell were killed in what Cleveland’s daily newspaper, the Plain Dealer, called “a fusillade of bullets” on a cul-de-sac behind Heritage Middle School. Police cars were also shot up by “friendly fire,” a clear indication of the police chaos.The police claimed initially that they were fired upon. But investigators from the Cuyahoga County Medical Examiner’s office stated that no guns or bullet casings were found in the car. A security film showing the beginning of the chase reveals no flash or sound of gunfire. Results of gunpowder residue tests, which should be available, have not been released.The community has responded with marches, rallies, press conferences, open forums and graveside support. At packed community meetings on Dec. 6 and Dec. 14, sponsored by the Cleveland NAACP, Cleveland Mayor Frank Jackson and other high-ranking city officials, people chanted “No justice, no peace!” The victims’ family members stated that police had murdered their loved ones “in cold blood.”During a march at the site of the shooting, signs condemned what happened as “lynching.” Walter Jackson, Williams’ uncle, called it “another Rodney King ­situation.”An East Cleveland resident at the Dec. 14 protest labeled the police action as “Ku Klux Klan mentality.” Connecting the police murders with the tragic massacre of school children in Connecticut, she stated, “This country loves its guns.”Black on Black Crime founder Art McKoy pointed to the Cleveland Police Department’s history of deadly force, compounded by bias favoring officers in the investigations of these incidents. All 4,427 use-of-force investigations by police supervisors for the period January 2003 to September 2006 cleared the officers involved of wrongdoing. (Cleveland Plain Dealer, Jan. 14, 2007)The Task Force for Community Mobilization, Self-Determination, Transformation and Community Empowerment, a coalition of more than 35 community groups, sent a letter to U.S. Attorney General Eric Holder asking for a swift investigation of the November shootings by the Civil Rights Division of the Department of Justice. The letter concluded, “We can no longer rely on the police to police ­themselves.”Groups that make up the Task Force include the American Civil Liberties Union, the American Friends Service Committee, the Carl Stokes Brigade, the Immigrant Support Network, Peace in the Hood, the New Black Panther Party for Self-Defense, the Shurah Council of Greater Cleveland (10 mosques), Black on Black Crime, the Oppressed Peoples Nation, Survivor and Victims of Tragedy, the Hip Hop Workshop and the Council on American-Islamic Relations.The Task Force, along with the ACLU of Ohio, has requested that Ohio Attorney General Mike DeWine appoint a special prosecutor to head up the investigation, replacing the East Cleveland Police Department and the Cuyahoga County Sheriff’s Office. In its letter to DeWine, the Task Force pointed out: “There were 137 shots including shotgun blasts that were fired into the vehicle after a reckless high-speed pursuit. At what point does a person stop being a danger? One officer fired 30-40 shots alone. He would have had to reload at least twice. That was nothing more than target practice on corpses. Several years ago community leaders, citizens and public officials concluded that the Cleveland Police Department had a pattern and practice of excessive force, civil rights violations and bias involving people of color.”The Cleveland NAACP has called the shootings “unacceptable and avoidable.” Congress member Marcia Fudge, whose district includes East Cleveland, sent a letter to the Special Litigation Unit of the Justice Department, asking for a thorough and independent review.At a community forum in East Cleveland’s Shaw High School on Dec. 14, Abdul Qahhar, minister of justice of the Task Force, called for the Plain Dealer to publish the photos of the 13 officers who fired weapons in the shooting incident as “criminal cops who committed murder,” since the paper publishes pictures of fathers behind in their child support payments. Qahhar’s suggestion received enthusiastic support.Ernest Smith, founder of the Oppressed People Nation, was loudly applauded as he called for the community to take to the streets.One older African-American man said this is happening in every city in the U.S. He eloquently pointed out that the African people in the U.S. are a captive and brutalized nation and the fightback must take place outside of the rigged “criminal” justice system.When the meeting ended, people marching to the exits started counting to 137 — the number of bullets fired. Regarding the groundswell of community organizing, Qahhar later declared, “We are kicking ass.”Martha Grevatt and Susan Schnur contributed to this article.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

TCU officials talk finances, semester plans in town hall

first_imgRenee is a journalism major. She is dedicated to improving her journalism skills to effectively and ethically inform others. TCU will not raise tuition for the 2021-22 academic year Previous articleStudents, faculty protest police brutalityNext articleTwo graduate students join lawsuit against TCU Renee Umsted RELATED ARTICLESMORE FROM AUTHOR Students can vote for the Student Government Association candidates using ballots sent via email. (Heesoo Yang/Staff Photographer) TCU places second in the National Student Advertising Competition, the highest in school history Facebook ReddIt Jacqueline Lambiase is still fighting for students Facebook TCU 360 staff win awards at the Fall National College Media Convention Renee Umstedhttps://www.tcu360.com/author/renee-umsted/ Renee Umstedhttps://www.tcu360.com/author/renee-umsted/ printIn a town hall meeting Thursday, Chancellor Victor Boschini and other top officials talked about the financial status of the university and the upcoming academic year.About 874 people attended the Zoom meeting, where staff answered pre-submitted questions from members of the TCU community.Boschini opened the town hall by addressing the death of George Floyd and acknowledging the recent protests against police brutality, including the march he and others participated in Tuesday evening. He said people on campus are feeling frustrated and angry, and he said TCU has to work to overcome racism.“And I think we’ve been doing a lot of work at TCU in these important areas,” he said. “And we’re just going to have to continue working on it, and we’re going to have to continue coming back each day with a fresh attitude and try to solve or conquer as many of these problems that we actually have control over on this 265 acres we call TCU.”In particular, the chancellor said all faculty and staff are required to complete a diversity, equity and inclusion training for this fall.Financial statusTCU has lost about $56 million since the move to distance learning last spring, said Brian Gutierrez, the vice chancellor for finance and administration.He said the drop in revenue stems from losses in ticket sales, giving revenue and annual fund giving, refunds for housing and dining, and expenses associated with preparing for the pandemic.Gutierrez said the university has “a wonderful manifestation of enrollment” for the fall, but will get more accurate data after the first opportunity to make payments and the enrollment level for the 12th day of class.Another marker of TCU’s finances is furloughs and layoffs, which the university has so far avoided. Boschini said these are still a possibility, citing a move to distance learning in the fall as one potential drain on the university’s monetary resources.“If we have to go online again, we’re going to have to give a steep discount to our entire student body, and that’s going to cost a lot of money,” Boschini said.The Coronavirus Aid, Relief and Economic Security, or CARES Act, which passed earlier this spring, included about $14 billion for higher education. TCU was eligible to receive $5.6 million from the government; half would have been spent on the students, and the other half would have been allocated to cover on-campus expenses for faculty and staff.However, there was public criticism about universities with large endowments receiving aid. Boschini said TCU was “shamed into not taking it” and noted other universities that did accept the money returned it “after they were ashamed.”In response to concerns that the reductions to retirement benefits would make TCU less attractive to job candidates, Yohna Chambers, the chief human resources officer, said the university’s package is still competitive among peer and aspirant universities.Safety precautionsThe provost, Dr. Teresa Abi-Nader Dahlberg, said classroom spaces are being configured to allow 8 feet between the instructor and students and 6 feet distance among students.In addition to distancing students, faculty and staff will also be asked to take other preventive measures. Faculty and staff will be issued a purple face covering, and faculty will also be given a plastic shield if they don’t want to lecture through a mask.Face coverings will be required in classrooms and encouraged around campus, said Kathy Cavins-Tull, the vice chancellor for student affairs.Students will also be given a bottle of hand sanitizer.In addition, though nontraditional spaces such as ballrooms may be used as classrooms, Cavins-Tull said ADA access is a priority.Any students who test positive for COVID-19 will have to self-isolate; TCU has identified space to quarantine in some residence halls and isolation pods, Cavins-Tull said.The Brown-Lupton Health Center has facilities to test for the virus in about 45 minutes, and contact tracers will be working to identify with whom people who test positive have interacted.Academic calendarInstructors are free to hold accountable students who do not attend the first week of classes, which was moved up, “the normal way,” Dahlberg said.Cavins-Tull said students can remain in the dorms past Nov. 24, the last day of finals for the semester, and can leave their nonessential items. Twitter Renee Umsted ReddIt ‘Horned Frogs lead the way’: A look at TCU’s ROTC programs Renee Umstedhttps://www.tcu360.com/author/renee-umsted/ + posts Linkedin Twitter Linkedin World Oceans Day shines spotlight on marine plastic pollution Renee Umstedhttps://www.tcu360.com/author/renee-umsted/ Welcome TCU Class of 2025last_img read more

All the fun of the fair at Groody

first_imgNewsLocal NewsAll the fun of the fair at GroodyBy admin – May 20, 2009 948 Previous articleKidney dishes out six new caps on Irish tourNext articleQuinlan’s appeal fails in Scotland admin Linkedin Advertisement Print WhatsAppcenter_img Facebook Email Funderland on the way to Limerick SIXTY -TRUCKS are wending their way to Limerick…. following a gap of five years when a suitable venue was not available, Funderland, Europe’s largest travelling funfair, and the brainchild of the Bird family, returns to the city on Thursday, May 28.  Sign up for the weekly Limerick Post newsletter Sign Up The event which was last held at the Old Greenpark Racecourse, moves to a new site at Groody Road, just off the University Roundabout.William Bird Sales, one of the companies belonging to the Bird family from Limerick, are the promoters of Funderland, which first began in 1975 at the RDS in Dublin and has grown over the years to become one of the largest carnival events in Europe.A feature of Funderland is the presentation at each event of some of the most spectacular machines found in the modern fairground industry.  The forthcoming show in Limerick has no less than three rollercoasters in the line-up along with the 150 feet high jubilee Ferris Wheel which will provide panoramic views across the city.Don Bird  said: “Once we secured the new ground we were determined to bring a spectacular show to Limerick and we are excited about the line-up of attractions, many of which have not been here before, including the Power Shot Reverse Bungee”.Funderland mixes top class thrill rides with a host of family attractions and kiddie rides to guarantee an experience which will appeal to every age group.  The Ultra Buzz  and Take Off rides are two of the fastest “white-knuckle” rides found anywhere in the world, and these will sit alongside more traditional rides such as the Waltzer and Dodgems.A host of kiddie rides including the Crazy Worm, a family rollercoaster which both parents and children can enjoy together, will ensure lots of fun for even the youngest thrill seekers.An important issue in the current economic climate according to John Magee, Marketing Manager for Funderland is value for money.  Funderland will be open each day at Groody Road from 2pm. Twitterlast_img read more

Limerick Travellers celebrate their heritage

first_imgNewsCommunityLimerick Travellers celebrate their heritageBy Guest Writer – June 6, 2013 2807 Email Shannon Heritage operations suspended from Friday evening WhatsApp Facebook Discover the wonders of Limerick during Heritage Week Twitter MORE than 100 members of theSign up for the weekly Limerick Post newsletter Sign Up Celebrating Traveller Pride Week at Youth Factoryattended The Factory Southside Youth Space for an evening of celebration as part of Traveller Pride Week.The festivities mixed fun and entertainment with information and awareness stands aimed at all members of the Travelling Community.The activities on offer ranged from zumba and handball to soccer and face painting with Giggles the clown particularly popular among the younger members.Traveller Pride Week is an opportunity to celebrate the contribution of Travellers to Irish culture and society, while also raising awareness of the support services and opportunities available to the members of the Traveller Community. Print Hidden history to Knockfierna Famine Memorial | Newcastle West Featurecenter_img Advertisement Linkedin The Limerick man who was the first voice of Clare radio Free admission to Desmond Castle Previous articleGame over, Ball Burst – The ChampionshipNext articleLimerick hurlers look to ‘Tipp’ balance Guest Writerhttp://www.limerickpost.ie Sean is back in memory lane for latest Christmas offering RELATED ARTICLESMORE FROM AUTHOR TAGSheritageLimerick Traveller CommunityPrideThe Factory Southside Youth Space last_img read more

Employers pay high price for turning backs on bias

first_img Comments are closed. With compensation levels for discrimination cases reaching a record high,alarm bells should be ringing for employers. Ben Willmott reportsThe risk of discrimination in the workplace was spelt out in real terms toemployers last week, after research revealed a dramatic increase in payments tovictims of discrimination. UK companies were ordered to pay out a record £3.53m compensation in unlawfuldiscrimination cases in 2000, according to a study by IRS Equal OpportunitiesReview. This marks a rise of 38 per cent on the previous year. Of that £3.53m, almost 50 per cent was for sex discrimination, 34 per centwas for race discrimination and 18 per cent for disability bias. Compensation awarded for injury to feelings (£1.53m) made up 43 per cent ofthe total. EOR editor Sue Johnstone believes the statistics show many employers arestill not placing enough emphasis on good HR practice. “These latest figures are a wake-up call for employers. Not payingproper attention to equal opportunities in the workplace is costingorganisations a massive amount of money. “Yet such losses are avoidable,” she added. “Forward-thinkingemployers have proved that implementing good equal opportunities policies andpractices is a cost-effective way of getting the best out of every employee. “This makes sound commercial sense for its own sake and has to be ofbenefit to every business.” She urged employers to act now to reap thefinancial rewards of good business practice and to avoid damaging and costlydiscrimination claims in the future. Employers will have to be even more vigilant over workplace discriminationfollowing new European legislation on race, sexual orientation and religion, tobe implemented in 2003. Additional anti-discriminatory laws on disability and age will follow in2004 and 2006 respectively. Johnstone said: “The potential for further loss is set to rise with theoutlawing of discrimination on grounds of religion or belief, age and sexualorientation in the next few years.” The Commission for Racial Equality believes the real cost to business ofworkplace discrimination is even higher than the figures suggest. The CRE’s analysis of the decisions in 2000, shows that 36 per cent of caseswere settled “out of court”, without allowing the tribunal toconsider the case and decide whether unlawful discrimination had occurred. Gurbux Singh, the commission’s chairman, commented: “While the exact amountof compensation in settled cases often remains confidential, employers stillhave to spend time and money on resolution. Although these costs remain hiddenfrom public scrutiny, they can be sizeable. “We welcome the fact that Equal Opportunities Review is givingpublicity to the compensation awarded for race as well as sex and disabilitydiscrimination. The statistics and case summaries they present allow bothemployers and individuals to get a picture of the consequences of racediscrimination at work.” The CRE also welcomes the growing sensitivity with which tribunals areapproaching this issue. “It is clear that tribunals are beginning to recognise the full impactrace discrimination has on individuals. To experience discrimination is underminingand debilitating and often leaves people unable to work for a long time,”Singh added. “The business case for employers should now be overwhelming. Many morecases involve long-serving employees, and tribunals need to weigh up not onlyloss of wages but pension benefits, promotion opportunities and other factorsin determining the level of compensation for loss of income,” he said. Russell Brimelow, partner at employment law firm Boodle Hatfield, believesthe figures show that tribunals are becoming more confident in making awards. He suspects the actual cost to business of workplace discrimination issignificantly more than that awarded to employees in compensation by employmenttribunals because the hidden costs of settlements has also increased. “No win, no fee employment litigation may also have contributed to theincrease in compensation awards,” he said. Plans to encourage employers and employees to use internal grievanceprocedures to prevent complaints reaching employment tribunals will help settledisputes over discrimination at an earlier stage, claims the EqualOpportunities Commission. A spokesman for the commission said: “The Government has proposed thatall employers should be obliged to have an internal grievance procedure. Properlyimplemented grievance procedures should help employers resolve more complaintsin the workplace. It should mean fewer cases are taken to tribunal, which canbe a lengthy and difficult process for everyone concerned. “However, it is essential that workers who are unable to resolve theircomplaint at work or are unable to use the grievance procedure continue to havethe option of going to a tribunal, and receiving appropriate levels ofcompensation if their claim is found to be justified.” Employers have to create work cultures where discrimination cannot exist, hesaid. “The figures show the costs to employers of not treating staff fairly.Good employers ensure they avoid such costs by complying withanti-discrimination legislation.” Discrimination cases: top payouts in 2000  Disability discriminationCompensation £79,166 Ninsiima v London Borough of Waltham Forest Injury to Feelings £30,000 (including aggravated damages)Haddock v Sema Group Race discriminationCompensation £127,000 Virdi v Commissioner of Metropolitan PoliceInjury to Feelings £100,000 (including aggravateddamages) Virdi v Commissioner of Metropolitan PoliceSex DiscriminationCompensation £1.5m Bower v Schroder Securities Injury to Feelings £30,000 Southwick v Smith & Jarvis & Castleton & Mali-Uddin & Hull RaceEquality Council Previous Article Next Article Employers pay high price for turning backs on biasOn 15 Jan 2002 in Personnel Today Related posts:No related photos.last_img read more