BTG Share News (BTG)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.
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FTSE 100 - WINNERS
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Experian, up 5.6%. The information services firm said foreign exchange will continue to exert an unwelcome pressure on the business at the full year, although it expects to see organic revenue growth at constant currency. Experian said that as well as organic revenue growth in the mid-single digit range, it anticipates "stable" margins and further progress in its closely-watched benchmark earnings per share in its full 2016 financial year, all at constant current. The guidance came as Experian reported that pretax profit fell to USD458.0 million in the six months to September 30 from USD534.0 million in the corresponding half the prior year. Experian will pay a first interim dividend of 12.5 US cents, up 2%.

Vodafone Group, up 4.3%. The telecommunications company said its pretax profit and earnings both fell in the first half thanks to currency effects, though its underlying performance was relatively robust and it edged up its interim dividend. Vodafone said its pretax profit for the half to the end of September was GBP232.0 million, down from GBP406.0 million, thanks to slightly higher financing costs and lower investment income in the half. Vodafone said it will pay an interim dividend of 3.68 pence per share, up 2.2% from a year earlier.

National Grid, up 2.0%. The UK's electricity grid operator confirmed media speculation that it is looking to sell its UK gas distribution business in order to rebalance its portfolio, with the proceeds being returned to shareholders. The process is likely to be completed in early 2017, National Grid said. National Grid's comments came as it reported a rise in pretax profit for the six months ended September 30 to GBP1.34 billion from GBP1.17 billion a year earlier. Revenue rose to GBP6.85 billion from GBP6.36 billion. The utility raised its interim dividend to 15.0 pence per share from the 14.71p a year earlier.
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FTSE 100 - LOSERS
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Wolseley, down 4.7%. The building materials company said its revenue and trading profit rose in the first quarter of its new financial year but saw UK trading profits decline by 21%. It said revenue for the three months to the end of October rose to GBP3.56 billion, up from GBP3.38 billion a year earlier. The growth in revenue was driven by the US, where construction markets remain very strong. Trading profit for the quarter rose to GBP250.0 million from GBP236.0 million, as its gross margin improved to 28.0%. However, UK trading profit fell to GBP19 million in the quarter from GBP24 million in the same period last year. The company said gross margins in the region were weaker and costs included some additional investment in marketing and IT capability.

Land Securities Group, down 2.7%. The property developer said its total property return underperformed the market in the first half but said it had pushed up its interim dividend as its revenue profit increased. The trust said its total business return for the half to the end of September was 7.0%, with an ungeared total property return of 5.9%, which underperformed the benchmark IPD Quarterly Universe return of 6.8%. Land Securities said it will pay an interim dividend of 16.3 pence per share, up from 15.8p a year earlier. Land Securities also said it has pre-let 92,000 square feet at the Zig Zag Building in Victoria in London to Deutsche Bank on a 15-year lease.
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FTSE 250 - WINNERS
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Aveva Group, up 4.0%. The engineering software company said that it hopes to reach definitive terms over the acquisition of industrial software assets from Schneider Electric in December, with completion expected by mid-2016, as it said it swung to an interim pretax loss. The update on the deal came as AVEVA said it swung to a pretax loss of GBP773,000 in the six months to September 30 from a GBP14.2 million pretax profit in the corresponding half the prior year. AVEVA increased its interim dividend per share to 6.0 pence from 5.5p.

DCC, up 3.7%. The distribution and logistics company said its revenue dipped in the first half but said pretax profit increased thanks to an improvement in its gross margin. DCC said its pretax profit for the half to the end of September was GBP52.5 million, up from GBP42.6 million a year earlier. DCC said it will pay an interim dividend of 33.04 pence per share, up 15% year-on-year. DCC said it expects its operating profit and earnings will be "very significantly" ahead year-on-year for the full year to the end of March 2016 and "modestly" ahead of market expectations assuming normal winter weather conditions prevail for the remainder of the financial year.
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FTSE 250 - LOSERS
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BTG, down 5.8%. The specialty pharmaceuticals company reported a rise in pretax profit in the first half of its financial year after all four of its business segments posted higher revenue, leaving it set to produce double-digit revenue growth for the full year. BTG reported a rise in pretax profit in the six months ended September 30 to GBP52.9 million from the GBP37.6 million profit reported a year earlier as revenue increased 20% to GBP229.6 million from GBP191.2 million.
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MAIN MARKET AND AIM - WINNERS
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Premier Foods, up 17%. The food company said its pretax loss narrowed in the first half and said it saw growth in sales in the second quarter which it expects to continue into the third. It said its pretax profit for the half to October 3 was GBP5.1 million, a substantial narrowing on the GBP54.7 million loss it suffered a year earlier, thanks to much lower administrative costs and one-off impairments not repeating. Revenue for the group edged down to GBP341.2 million from GBP343.9 million, but sales increased in the second quarter both for branded and non-branded products as investments the group made in its brand portfolio flowed through, it said.

Speedy Hire, up 8.6%. The tool and equipment rental company affirmed its expectations for the full year in the wake of a couple of profit warnings which had hit its shares hard earlier this year. Speedy said it swung to a pretax loss of GBP13.5 million in the half to the end of September, from a GBP9.5 million profit made a year earlier. This was driven mainly by the group booking exceptional costs of GBP14.2 million related to the restructuring of its network as it seeks to improve its operating performance. Speedy said the actions taken to address its legacy performance are starting to deliver results, with administrative costs now brought down and the redistribution of assets in its depot network improving asset availability.
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MAIN MARKET AND AIM - LOSERS
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Tyman, down 5.9%. The doors and windows components supplier said its underlying operating profit for 2015 is set to miss market expectations amid subdued activity over the summer months. Tyman said its underlying operating profit for 2015 will be ahead year-on-year but will slightly miss market expectations. The group said is constant currency revenue for the year has been broadly flat against 2014, though profitability has improved thanks to pricing and cost cuts. Revenue, however, has been hit by subdued end markets highlighted in the first half, which continued into the second and its mid-year order book level has not been sustained.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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