Member Info for jange

No financial information regarding the sale was given

Water provider Severn Trent has sold its Analytical Services division to Australian testing inspection and certification (TIC) group ALS Limited for an undisclosed sum. The unit, also known as Severn Trent Laboratories, provides portable, wastewater and contaminated land testing services to UK commercial and utility customers. The company announced its intention to dispose of the arm back in August 2012, saying at the time that it had become a smaller business that was predominantly commercial-customer focused. Meanwhile, the sale addressed a number of commitments it had made to Ofwat in relation to the pricing of certain contracts at Severn Trent Analytical Services. It accounts for around 1.5% of Severn Trent's total revenue. ALS is listed on the Australian Securities Exchange and is one of the largest TIC companies in the world.

Oh and............. Workspace said it saw good levels of enquiries and lettings in the quarter, despite the anticipated seasonal slowdown at Christmas. Enquiries averaged 964 per month, compared to 892 per month in the same quarter last year.

Chief Executive Officer Jamie Hopkins said: "It is encouraging that this strong level of customer demand has continued into the current calendar year. Our market knowledge and focused asset management strategy continues to drive momentum in the business and shareholder returns." "Our total property valuation has also increased; benefiting from an improved operating performance alongside the uplift in value achieved from our on-going programme of refurbishment and redevelopment. Tailoring and upgrading our properties in order to attract our customers is proving successful and remains a priority."

Office provider Workspace said demand for space remains strong with an increase in like for like rent roll in the quarter and the year to date as it continues with its programme of refurbishment and redevelopment. LFL rent roll increased 1.4% in the quarter to �44.2m and rose 4.5% in the financial year to date. Total rent roll increased to �51m from �50.2m in March 2012. LFL occupancy stood at 89.6%, up 0.8% in the quarter and up 1.9% in the year to date. Its London property portfolio is now valued at �799m, an underlying increase of 1.5% in the quarter and 3.6% since March 2012. Workspace said net initial yield is 7.1%, unchanged from March.

Meanwhile, the estimated rental value (ERV) of the group's other schemes amounts to £2.3m, equal to 2.8% of its wholly-owned commercial ERV. The ERV of wholly-owned commercial space available to let amounted to just £2.0m by January 31st (2.4% of the total commercial ERV), of which £1.2m was under offer. "This low level of available space reflects a particularly busy period for enquiries and letting activity since September," the firm said. However, the number of vacant shops is expected to increase in the early months of 2013 but the company said that this was in line with seasonal patterns of activity. At Friday's annual general meeting, John Manser will step down as Chairman (as previously announced) and will be replaced by current Deputy Chairman Jonathan Lane.

Central London-focused FTSE 250 real estate group Shaftesbury said it has seen continuing good demand and letting activity across its West-End villages in the first half, while vacant space is now at an 'exceptionally low level'. In a trading update covering the period between October 1st to date, the firm said that it has "sustained interest from retailers, particularly from Europe and America, seeking shops in our centrally-located villages. Similarly there are many interesting new restaurant concepts seeking space in the West End." Shaftesbury is currently undertaking two major schemes around the Carnaby Street area, just east of Regent Street, which will cost £18m and, when fully let, will produce an additional £2.0m of rental income every year.

LFL fee revenue saw robust growth, helped by new investment managers and advisers, its new branch offices, greater activity from its investments team and record corporate pension activity at its wealth management subsidiary in York. Walker Crips said it remains in a strong financial position following receipt of the sale of its asset management business to Liontrust in April 2012. "Although prevailing trading conditions remain uncertain, the current quarter has started strongly and, if recent optimistic investor sentiment is sustained, the board believes that there are opportunities for WCG to develop existing and new products and to continue its organic growth over the medium term," the group said in a company statement.

Financial services group Walker Crips reported a decline in third quarter net revenue, following depressed market conditions, but said it is optimistic about future growth if the recent upturn in investor sentiment is sustained. Group net revenue for the quarter to December 31st 2012 fell by 3.8% from the same quarter a year earlier to £3.26m after challenging market conditions. However, on a like-for-like basis, excluding net revenue of £0.99m attributed in the third quarter last year's disposal of its asset management subsidiary WCAM, net revenue of the remaining core business increased by 35.5%. LFL net stockbroking commission revenue increased during the quarter by 35.3%, after a significant contribution from investment managers and advisers who have joined the group over the last 12 months.

However, as part of the re-shaping of its Pan-American region, C&W Comms said it has accelerated some investments designed to reduce costs and improve services for customers, which includes upgrading fixed line infrastructure in Barbados and Cayman, "revitalising" retail operations in Barbados and "transforming" engineering operations in other Caribbean island. These investments will increase the firm's exceptional restructuring costs this year by $20m to $55m. "These and other initiatives will improve the efficiency and flexibility of the business and drive cost savings in future years which is critical as market conditions in the rest of the Caribbean remain difficult, particularly in the Eastern Caribbean and Barbados," the group said. Net debt by the end of December stood at $1,549m, down $39m over the first quarter. The firm said that its proposed disposals of its Monaco & Islands business and Macau division are still progressing towards completion.

Telecoms group Cable & Wireless Communications said it is on track to hit its guidance of flat earnings this year, but will take a further 20m dollars in one-off restructuring costs. The company said that, in line with the outlook given at the start of the financial year, group earnings before interest, tax, depreciation and amortisation (EBITDA) performance for the year ending March 31st will be "similar" to 2011/12. In the previous year, EBITDA totalled $901m, while revenues were $2,875m. The firm said that mobile data revenue grew strongly across the group during the third quarter, helped by increasing smartphone adoption and usage.

"Our business model - including our focus on underwriting discipline and our global distribution network - has proved successful. We believe that attractive underwriting opportunities exist across our six underwriting hubs. Our capital base remains solid and flexible. Catlin continues to build a business for the future, and we look ahead with confidence."

"The non-London/UK underwriting hubs continue to grow and now account for 50% of overall gross premiums written. More importantly, all of our underwriting hubs produced underwriting contributions in 2012." The group produced a return on net tangible assets of 14.6% and a return on equity of 11.3%. Chief Executive Stephen Catlin said the company would build on last year's strong performance. He noted that pricing for catastrophe-exposed business was high following rate increases in 2011 and 2012. Rate improvements for US property reinsurance on January 1st will aid in renewals following the aftermath of the Hurricane Sandy which devastated homes and infrastructure across the US last year, he added. "Catlin enters 2013 in an excellent position," he said.

Specialist insurer Catlin Group on Thursday raised its dividend by 5.4 per cent after profits soared last year. The FTSE 250 property and casualty insurer and reinsurer increased its annual dividend to 29.5p per share compared to 28.0p in 2011. Profits before tax came to $339m, up from $71m the previous year. Results were driven by underwriting services which generated a net contribution of $788m, the highest in five years and a 143% increase from a year ago. Chairman John Barton said the attritional loss ratio remained low at 50.6%, "demonstrating the quality and discipline of our underwriting". "Our diversification strategy is contributing to our underwriting success," Chairman John Barton said.

"Consequently, we remain very positive about the prospects for the Byotrol technology, and look forward to updating the market on further commercial progress at the earliest opportunity."

Deal signed with M&S The company also announced Friday that Marks and Spencer has entered into an agreement to use Byotrol sanitisers as their in-store surface hygiene solution in UK. The product will be rolled out over 500 M&S stores in a move which follows the adoption of the product within the retailer's newly launched Deli operations. Gary Millar, Chief Executive at Byotrol, said: "Byotrol is very pleased to be adopted so widely by such a trusted household brand name. It is a further endorsement of the credentials of the Byotrol technology, and illustrative of the potential for the company." Commenting on the trading update, he said: "We are on track towards achieving our overall financial objectives. Whilst the delays in the sales of the UltraProtec range are frustrating, Byotrol has continued to achieve considerable growth elsewhere by developing further large scale commercial relationships, as illustrated by our Marks and Spencer agreement.

Byotrol, a company which develops anti-microbial hygiene technologies, disappointed investors with the news that although revenue for the year ending March 31st 2013 will be above that of the previous year, it will be lower than previously anticipated. This was because sales of the group's UltraProtect range has been slower-than-expected, mainly as a result of additional regulatory approvals required in European territories. Meanwhile, the company also reported 15% overall growth in revenues year-on-year after 10 months, up from 11% at the interim stage. Sales within the UK food sector double, while first sales were achieved within the sub Saharan African Pet and Vet markets and the North African healthcare markets. "Due to significant tight cost control and a newly agreed invoice discounting facility the company still anticipates that it will have sufficient cash to take the business to its target of breakeven and cash generation in H1 financial year 2013/14," the group said.

1st postt

WANdisco's share price had rose 10.04% to 740p at 10:52 on Friday.

Commenting on the launch, WANdisco Chief Executive Officer, David Richards, said: "This announcement and the launch of WANdisco Distro marks our first, formal product step in to the exciting world of Big Data. "This fully tested, production ready platform will underpin all of our Big Data products going forward, based on the patented active-active technology that already gives us such a unique edge in the market place. We look forward to announcing further Big Data product news in the coming weeks."