Moneysupermarket.Com Share News (MONY)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.

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Stocks around the world are rebounding after Russian President Vladimir Putin ordered Russian military units to return to their permanent bases. While the vast majority of equities plummeted Monday amid concerns that a Russian invasion of Ukraine was imminent, the price of gold and subsequently gold mining companies soared. The opposite is true Tuesday, with gold miners among the biggest fallers, as the price of the precious metal drops by almost 1%, currently trading at USD1,336.82 per ounce. The price of Brent oil has slipped to USD109.45, having jumped Monday.

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FTSE 100 - WINNERS

Ashtead Group, up 9.4%. The industrial equipment hire company said that its pretax profits rose significantly in the nine months to January 31 as its programme of organic growth and acquisitions continues to pay off. Pretax profit jumped 51% to a record GBP292.7 million in the period, up from GBP193.5 million in the comparable period in 2013. Revenue for the nine months also demonstrated strong growth, up 23% to GBP1.25 billion from GBP1.01 billion last year. Ashtead also posted strong results for the third quarter to the same date; pretax profit rose 54% to GBP80.4 million from GBP53.5 million last year, with revenue up 22% at GBP400.1 million.

Meggitt PLC, up 2.8%. The engineering group announced full-year results broadly in-line with consensus estimates, with its pretax profit down to GBP269.4 million from GBP281.3 million reported last year. Earnings per share showed a small rise, up 3% or 1 pence to 37.5 pence. Meggitt said, "We delivered revenue and underlying profit growth despite weakness in some of our markets and some operational - largely supply chain - challenges.

EasyJet, up 3%, International Consolidated Airlines, up 2.3% and TUI Travel, up 2.4%. After falling heavily on Monday on the back of increasing oil prices, the heavy fuel consuming airline companies are amongst the biggest blue-chip risers Tuesday as the price of oil declines.

Glencore Xstrata, up 2.5%. The major mining and commodities trading company reported an unexpected increase in full-year 2013 revenues, beating market expectations. It said its reported revenues increased by 8.5% to USD232.69 billion from USD214.44 billion in 2012, beating analyst consensus figures which had expected revenues to fall to roughly USD149.67 billion during the period. Although the group's net profit before significant items fell short of analysts consensus forecasts, it increased 20% to USD3.67 billion, up from the USD3.06 billion posted the previous year. The company also announced a less-than-expected decline in underlying earnings per share before significant items, at 33 cents from 44 cents, with analyst consensus figures predicting a fall to 29 cents. Glencore recommended a 4.8% higher final dividend of USD11.1 cents per share, bringing its full year payment to USD16.5 cents.

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FTSE 100 - LOSERS

Fresnillo, down 8.6%. The precious metals miner was one of the few winners in the FTSE 100 on Monday as it benefited from the increasing price of gold. However, the company is now the biggest faller in the index after the yellow metal retraced its gains and it reported that its pretax profit fell 65% during its full year 2013. Its pretax profit fell to USD418.7 million from USD1.18 billion the previous year, as revenues fell 25% to USD1.62 billion from USD2.16 billion in 2012.

Randgold Resources, down 1%. Despite saying that it believes that opportunities outweigh challenges for gold miners in Africa, Randgold is the second biggest loser in the blue-chip index. The company has been hit by the falling price of gold.

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FTSE 250 - WINNERS

Perform Group, up 16%. The digital media company announced full-year results in-line with expectations as well as announcing a new cost saving plan. Perform posted a pretax profit of GBP4.1 million, down significantly from GBP16.9 million in the previous year, despite revenue rising to GBP208.1 million, up from GBP151.6 million in the previous year. This was due to higher administrative expenses and sales costs biting into operating profit, as well as exceptional costs of GBP9.8 million relating to acquisitions. However, the group also announced cost saving plans estimated to lead to a 15% reduction in the cost base for 2014. Numis Securities said that after experiencing growing pains as it tried to balance rapid organic growth with multiple acquisitions, "the group now seems better placed to execute in future".

Pace, up 8.5%. The firm posted a pretax profit of USD130.8 million for 2013, up from USD80.1 million in the previous year, as revenue rose to USD2.47 billion from USD2.40 million and administrative costs declined. The PayTV and broadband technologies and products company posted a full-year dividend of 5.49 cents per share, up from 4.50 cents in the previous year. It said it expects its strong cash flow to continue in 2014, generating over USD185 million of free cash flow.

IP Group, up 5.8%. The company said pretax profits rose by 78% in 2013, boosted by strong returns from its portfolio. Its portfolio made GBP83.0 million in net gains, compared with GBP50.2 million in 2012, while administrative expenses rose only marginally to GBP13.2 million from GBP12.7 million. As a result, pretax profit rose to GBP72.6 million in 2013 from GBP40.7 million in 2012.

Alent, up 5%. The firm reported higher profits for 2013, its first year as a standalone company, as lower restructuring charges offset a drop in revenues caused by weakness in its consumer electronics markets. The company, which demerged from Cookson Group at the end of 2012, reported a pretax profit of GBP77.7 million for 2013, up from GBP73.2 million in 2012, as exceptional costs dropped to GBP10.3 million, from GBP15.8 million. It had also booked GBP10.7 million of demerger costs in 2012. The fall in costs offset a decline in revenues to GBP684.7 million, from GBP713.9 million. Alent raised its full-year dividend for 2013 to 8.60 pence, from 8.25 pence.

Vesuvius, up 4.2%. The group, which like Alent demerged from Cookson Group at the end of 2012, reported higher profits for 2013 as it cut manufacturing costs and disposed of less-profitable businesses, and said it expects to further improve its margins in 2014 as it continues to improve operational efficiency in the face of still-challenging markets. The company reported a pretax profit of GBP104.1 million for 2013, up from GBP17.2 million in 29012 when it booked GBP57 million of restructuring costs and GBP15.7 million of demerged costs. Excluding those costs, pretax profit rose to GBP125.2 million, from GBP109.7 million, as cost cutting offset a decline in revenues to GBP1.51 billion, from GBP1.55 billion. The company will pay a final dividend of 10.25 pence for 2013, bringing its total dividend for the year to 15.00p. That is a 5.3% increase on its share of the Cookson Group dividend in 2012.

Moneysupermarket.com Group, up 3.9%. The price comparison website declared a 12.92 pence special dividend as it reported a 37% increase in 2013 pretax profits, buoyed by strong performances from travel verticals and home services. Pretax profits rose to GBP43.1 million, up from GBP31.5 million in 2012, boosted by a 10% increase in revenue to GBP225.6 million and a lower cost of sales. The company also increased its ordinary dividend to 7.28 pence from 5.74 pence.

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FTSE 250 - LOSERS

Devro, down 8.4%. The sausage-casings manufacturer reported a marginal increase in revenues for 2013, helped by price increases, but said its profits for the year were hit by slowing demand in some of its key markets, manufacturing issues in the US, and a sharp rise in raw material costs. It said revenues for the year increased by 0.7% to GBP242.7 million, from GBP241.1 million a year earlier, but pretax profit fell to GBP37.5 million in 2013 from GBP39.3 million the prior year.

African Barrick Gold, down 1.7%, and Centamin, down 0.4%, are being hit by the softening price of gold.

Tullett Prebon, down 0.4%. Although the interdealer broker swung to a 2013 pretax profit, its underlying performance was weaker as it was hit by subdued financial markets and new regulatory changes caused uncertainty for its customers. The group said it swung to an GBP84.4 million pretax profit in 2013, from a GBP38.1 million pretax loss in 2012. However, on an underlying basis, which strips out exceptional items, it reported a fall in pretax profit to GBP99.6 million from GBP111.3 million, driven by declining revenues, which fell to GBP803.7 million from GBP850.8 million in 2012.

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AIM - WINNERS

Verdes Management, up 547%. The company said it has secured its future after Coms PLC Chief Executive David Breith stepped in to save the company and it raised GBP750,000 from an institutional investor, meaning the suspension on the company's shares has been lifted.

Ultrasis, up 15%. The healthcare products and services provider said that it has won a three-year UK public sector contract which it estimates to have a potential value in excess of GBP8.0 million. It said that the detailed terms of the contract are confidential due to its nature, but it expects it to involve the assessment of over 80,000 people over the three year period.

Rose Petroleum, up 8.1%. The natural resources company said its subsidiary AVEN Associates LLC has entered a joint venture with Lowell Copper Ltd in connection with AVEN's TC Porphyry Copper Project in the US. As part of the deal Lowell will send USD250,000 to fund initial exploration at the site in return for a 25% stake of the four-year joint venture. The company said Lowell will have an option to increase its interest to 52% by funding an additional USD2.5 million, after which point it will have the option increase to 70% by investing a further USD3.5 million.

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AIM - LOSERS

Image Scan Holdings, off 20%. The x-ray imaging technology company said after the market close on Monday that Chief Executive Officer Louise George had not been re-appointed to the board at its annual general meeting. Additionally, Chairman Brian Emslie and non-executive director announced their intention to resign, coming into effect June 2, 2014.

Abcam PLC, down 14%. The biotechnology company reported first half revenue up 8% to GBP62 million, in-line with expectations, and also raided its dividend to 2.13 pence, from 1.94 pence in the previous year. However, analyst expect exchange rate changes to negatively effect its 2015 full year by as much as 8%. Numis Securities had downgraded the stock to Hold from Add due the the forecast FX impact, reducing its price target to 510p, from 560p

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By James Kemp; jameskemp@alliancenews.com; @jamespkemp

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