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Been looking at this stock for a while now, price hiked cos announcement results would be good and suddenly buying of £100K of shares and some more at start of Feb looks like - maybe a good sign or just some investors as part of their strategy out there will always buy a stock after a positive announcement
Interesting upswing today, anybody got a clue why?
Singer Capital maintained its "buy" recommendation for Cello (CLL), but with a significantly reduced target price of 45p, from 71p. The broker has lowered its 2012 forecasts following the loss of a large retail research contract in July and a poor economic environment, which Singer expects will reduce acquisition activity. However, the broker believes that the marketing group has good revenue visibility for the second half of 2011 and expects it to meet market expectations for the full year. The shares edged up 0.25p to 33.5p.
In release its interim results for the first half of 2011, marketing services group Cello has claimed a growth in revenue of 2.3%. The company, which owns marketing agencies such as The Leith Agency, Tangible, Farm and a number of pharmaceutical marketing agencies, said that its revenue grew to £62.9m during the first half of the year, with a gross profit growth of 1.9% to £30.5m and an operating profit of £2.5m. The group also said that there was ‘good revenue visibility’ and a ‘project pipeline’ for the second half of 2011. Mark Scott, chief executive, commented: “Cello is benefiting from its focus on servicing the pharmaceutical sector, along with other high margin client sectors, on an international basis. This focus has been enhanced by the recent acquisition of MedErgy. The Group has a powerful combination of online data gathering, advisory capability, and the ability to help clients implement their global marketing strategies. This is a good basis for continued growth and we are confident that management expectations for 2011 will be met.”
Cello Group plc announced that the interim dividend has been increased by 5% to GBP0.0055 (2010: GBP0.00525). It is payable on January 6, 2012, to all holders on the register on December 9, 2011.
(06/07/11) Shares in Cello Group (CLL) slipped 3.5p to 37p after the marketing group warned full year pre-tax profits are likely to be lower than previously anticipated. Whilst first-half pre-tax profits experienced growth of 5%, and like-for-like sales growth has improved, the group admitted losing a battle for a large retail research contract following a highly competitive tender process. Further to this a smaller retail client of the firm recently entered administration. An exceptional charge of 0.5 million pounds is expected to be incurred as a result of this news; however the group has taken “immediate action to reduce costs associated with servicing these contracts, predominantly through a reduction in the number of professional staff.”
Correction it just did 8(
Aye you may be right there, glad I dont have to much invested !!
Looks like 45p may be looming
http://investegate.co.uk/Article.aspx?id=201105170700136954G
Cello Group (CLL) said it maintains its belief that full year expectations can be met despite the continued flat condition of the UK economy, as the marketing company continues to explore expansion opportunities. The company said the core healthcare activities of the group have continued to perform well during the first quarter of the year, offsetting slower spending in UK dependent sectors, particularly retail. Shares in Cello, which operates in more than 70 countries, decreased 3.75p to 47.5p.
Stephen Highley, Group Corporate Development Director for Cello, commented: "Red Kite is a well established brand in the pharmaceutical space and this acquisition further reinforces our strong position in the healthcare market. We are looking forward to building on the exciting progress we are making in establishing Cello as a leading player in healthcare marketing globally."
Acquisition of Red Kite Consulting Group Cello Group plc (AIM: CLL, "Cello", or "the Group"), the insight and strategic marketing group, announces the acquisition of Red Kite Consulting Group Limited ("Red Kite"). Red Kite is a UK based consultancy business which serves the pharmaceutical sector, advising on marketing strategy and market access issues. The business was founded in 1999 and clients include Abbott, Astellas, Bayer, Bristol-Myers Squibb, Pfizer, Roche, Sanofi-Aventis and Shire. Red Kite will merge with Cello's existing pharmaceutical consulting business, MSI, and Jonathan Dancer, the founder of Red Kite, will join the Board of MSI as Managing Partner. In March 2011, Cello announced the acquisition of MedErgy HealthGroup Inc., to serve as its primary US partner company servicing the US pharmaceutical market. The acquisition of Red Kite further accelerates Cello's focus on the pharmaceutical and health market and is consistent with its aim of becoming a leading global health services company.
Good encouraging results and a drop in line with market sentiment today = good buy in my book
Mark Scott, Chief Executive, commented: 2010 saw a strong performance, particularly in our research and consultancy operation. Our focus on the healthcare market and our increasingly global client base have resulted in robust profit growth. We plan to continue to internationalise our operating base in 2011 and strengthen our focus on our core client sectors. The acquisition of MedErgy, announced today, will accelerate this process." "
Acquisition and placing • Acquisition announced today of MedErgy HealthGroup Inc further strengthening healthcare and non UK revenue base • Also today, to part finance the acquisition, the Group is pleased to have announced the conditional placing to raise £2.8m (before expenses) at a placing price of 52.5p from new and existing institutional investors and certain directors of the Group
Highlights • Headline operating profit1 up 21% to £7.3m (2009: £6.0m) • Reported operating profit £5.7m (2009: loss 4.9m) • Like-for-like gross profit2 up 3.6% in Research and Consulting • Like-for-like gross profit2 up 1% to £60.3m (2009: £59.7m). • Headline basic earnings per share3 7.67p (2009: 7.56p) • Reported basic earnings per share 5.88p (2009: loss per share 11.31p) • Full year dividend up 10% at 1.43p (2009: 1.30p) • Strong cash generation reduces net debt to £8.8m (2009: £11.5m) • Good start to 2011 - momentum in Q4 2010 continued into Q1 2011 • Robust pipelines of non-UK work in Research and Consulting • Healthy profitability in core US business
http://www.investegate.co.uk/Article.aspx?id=201103150700129323C
interesting move today
of selling .....any reason ?