News in brief: Partnership slides below float level, CBRE in swoop for Norland at £250m, Carlsberg buoyed by warm autumn

Partnership Assurance shares tumbled below their offer price today after the company warned its retirement sales were unlikely to grow in the fourth quarter.

Shares in the group, chaired by Chris Gibson-Smith, fell more than 20% to 314.7p, well below the 385p at which they were listed in June.

Property giant CBRE has agreed to buy Norland Managed Services for £250 million, it emerged today.

Norland, which was founded in London almost 30 years ago, specialises in support services for commercial landlords. Norland boss Ian Entwisle said: “Our firms fit together very well, both culturally and operationally. We know each other well.”

A warm autumn helped Danish brewer Carlsberg push profits up in its third quarter. Western Europe sales rose but Eastern Europe and Russian trading remains tough, the firm said.

Revenues fell 3% to 18 billion Danish kroner and profits rose the same amount to 2.2 billion kroner. Chief executive Joergen Buhl Rasmussen said he was satisfied the group could deliver earnings growth this year.