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Ex Divi Date 23 April 2014 Record Date 25 April 2014 Payment Date 04 June 2014 http://investor.legalandgeneral.com/events.cfm
NORTHLAND UK VIEW: Heritage Oil (“Heritage”) is one of the UK’s most successful mid cap independent oil and gas exploration companies. The company made four of the five largest oil discoveries onshore Sub-Saharan Africa in the last decade and, with its Kingfisher discovery, opened up Uganda as a hydrocarbon province. This success led to >$2bn in asset sales and the return of $490m to shareholders via dividends and share buybacks. However, the acquisition of the stake in OML30 Nigeria (347MMbbl pre-royalty barrels), completed last November marks a step change shifting emphasis further downstream where management is less experienced. Success of the move relies on the performance of the state-owned operator of OML30, Nigerian Petroleum Development Corporation (NPDC) that has a mixed track record. Heritage is trading at a substantial discount to peers on most metrics reflecting these risks. In our view, this presents an attractive entry opportunity with significant re-rating potential.
http://www.telegraph.co.uk/finance/markets/8984420/Telegraph-share-tips-for-2012.html GKN (183p) GKN, the FTSE 100 global components maker, has its fingers in many pies – automotive, aerospace, hybrid technology, developed markets, and China. Its customers include the world's biggest car makers but also Boeing and Airbus. However, its shares declined 20pc in 2011 as the company became caught up in fears about the health of the eurozone and the impact this could have on the world's manufacturing output. Long-standing chief executive Sir Kevin Smith also announced his retirement. An economic shock in Europe could lead to plant shutdowns similar to 2009, which caused GKN to rush to shareholders for emergency cash. But the company now appears well placed to withstand this if it happens or well placed to grow if it does not. Despite the uncertainty, 2011 saw record global car sales. 2012 promises further growth into emerging markets for car makers and a recovery in the US, particularly for premium companies such as BMW and Jaguar Land Rover. GKN could also enjoy the benefits of a forecast growth in civil aircraft production as Boeing and Airbus ramp up projects. In its last trading update, GKN said automotive sales were up 10pc year-on-year, aerospace 3pc and its next-generation land systems division 23pc. The company ended the year trading at 7.2 times 2012 earnings and a yield of 4.8pc. GKN – the type of manufacturing business Britain needs more of – is worth supporting. Tipped By Graham Ruddick
The Paris Air Show is on this week, Should be getting some orders. Bearing in mind the defence cut backs the arms that are being used in the Arab world will have to be replaced. The Civil Air planes are selling well. COB makes stuff for all sorts. Should do well. IMHO.
LONDON (Dow Jones)--U.K. building and engineering products company Alumasc Group PLC (ALU.LN) said Thursday full-year revenue rose 10% from 2010 and that its order book remains strong. The company said its order book now totals over GBP40 million, around 20% ahead of the corresponding year-end level and up more than 50% from its low point in December 2009, with the majority of the improvement at its Alumasc Precision engineering products division, which recently inked a deal with U.S. engines firm Caterpillar Inc. (CAT)to supply aluminum components for a complex transmission system. Net debt widened 17.2% to GBP10.9 million, GBP1.6 million higher than last year, which the company said was due to anticipated increases in working capital requirements as revenue grows. However, Alumasc said its borrowings levels remain comfortably within its committed financing facilities of GBP20 million Revenue at its building products division remains in line with its comparative figure from last year, the company said, adding that it remains to be seen whether the company is affected by the U.K. government's recent Comprehensive Spending Review, which aims to sharply reduce the amount of money spent by the state and that is consequently expected to negatively impact the construction sector. KBC Peel Hunt analyst Robin Hardy said: "The positive trends reported in the prelims continue. The order book is up, [Alumasc Precision] continues to power ahead, and the long-term recovery in EPS begins to look bedded in." He gives the company a strong "Buy" recommendation, with a target price of 160 pence. FinnCap analyst David Buxton said the Caterpillar deal locks Alumasc in with a strong customer. He said he believes the company should be attractive to investors and gives them a "Buy" recommendation, albeit with a lower target price of 138.0 pence and no change to forecasts. At 0934 GMT, shares were up 6.0 pence, or 4.98%, at 126.50 pence, outperforming a slightly higher FTSE All-Share index, which was up 0.9%