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KBC Advanced Technologies advanced over six per cent Thursday after the consultancy and software company forecast strong annual results. The group expects a cash balance above £9.0m for the year to December 31st, exceeding market expectations. Net cash at the year-end was pegged at £1.0m. The last quarter of 2012 showed recovery culminating the award of the $100m consulting and software contract with EP Petroecuador (EPP). Software applications and training materials were delivered to EPP last month. A delivery of consulting services milestones will take place over the next four years. The company performed particularly well in its software business, including Infochem which was acquired in June. "Significant progress has been made in developing an enhanced range of products for the downstream, upstream and gas production markets," the company said.

ive got a good holding in qfi not quite as good as you though........

Nice average..................

The firm saw strong growth in bill and general payments and retail services during the period, though this was partly offset by a decline in net revenue from mobile top-ups. Bill and general payment growth included set-up fees for the Simple Payment services for the Department for Work and Pensions which contributed six percentage points of the overall growth in net revenue. Consumer parcel drop-off and collection service, CollectPlus, the company's joint venture with Yodel, saw volumes grow by 89% to 2.3m transactions during the period.

Payment systems operator PayPoint said that trading was in line with expectations in the third quarter, as a slowdown in revenue and transaction growth was the result of seasonality. Transactions processed in the three months to December 31st totalled 193m, up 5% year-on-year. This compares with the 345m transactions processed in the first half, up 18%. Meanwhile, revenues rose 4% to £55m during the period, down from the 6% growth in the first six months of the year. Nevertheless, Chief Executive Dominic Taylor said: "Overall trading since September 30th 2012 was in line with market expectations, taking seasonality of trading into account. We are pleased with the growth across the group and continue to focus on driving improved returns on our invested capital." Net revenues, which exclude retailer commission and the cost of mobile top-ups, gained £28.7m.

Take a look at fitbug nice little company that will be in profit next year one to sit on..........

High Street betting shop Ladbrokes is to get its hands on the Betdaq exchange business through its acquisition of Global Betting Exchange Alderney (GBEA). Ladbrokes is paying TBH Limited €30m on a cash-free/debt-free basis for GBEA and will also exchange €4.0m for a 10% stake in TBH Guernsey (TBHG), the technology provider to GBEA. In addition, it also has a call option to take over TBHG after four years. The group said that the transaction combines Ladbrokes' global brand and improved sportsbook with a "high quality, scalable betting exchange to create the most comprehensive sports betting service in the market". Meanwhile, it accelerates the firm's strategy to grow digital revenues through technology investment. "The Betdaq exchange is a well-regarded and well invested business and a close strategic fit for Ladbrokes," said Chief Executive Richard Glynn. "Whilst the main focus of our digital growth strategy continues to progress well, this bolt on acquisition provides us with an exciting opportunity to grow our share of wallet through the creation of a differentiated and comprehensive sports betting proposition for customers and also supports our drive for improved liability management." The firm said that the transaction would be earnings accretive this year.

Stephen Billingham, Chairman, said: "I would like to thank Roger for his significant contribution to the group over the last four years. Roger and the board have set out a clear operational plan to return the core estate to growth and maximise value from our non-core assets. "I am confident that with the appointment of Neil Griffiths as COO and with the experienced management team in place at Punch we will continue with the progress we are making in delivering on these key strategic goals."

"He is very well respected within the company and his appointment will enable a smooth transition in what is still a challenging consumer environment." Whiteside will step down from the Punch Taverns board on February 1st. The pub group has appointed Stephen Billingham as Executive Chairman and Neil Griffiths as Chief Operating Officer, with immediate effect, and said that consequently a new Chief Executive Officer will not be appointed at this time. Stephen Billingham has been Non-executive Chairman since September 2011. Neil Griffiths has been Punch's Property and Turnaround Director and has been with the group since 2001. He has 25 years' experience in the leisure and hospitality industry having held senior management roles in Warner Brothers and Bass. The board assured investors that its current trading performance remains in line with its expectations.

High Street pastry and baked goods retailer Greggs said Thursday that Roger Whiteside, the current Chief Executive Officer (CEO) of Punch Taverns, will become its next CEO, having announced in December that Ken McMeikan is leaving the post in March. Whiteside, who will take up the role from February 4th, has been a Non-Executive Director of Greggs since March 2008 and will leave Punch Taverns in February. Derek Netherton, Chairman, said: "We are delighted to announce the appointment of Roger as Chief Executive. Not only has he got considerable management experience in retailing and food but also, as a Non Executive Director of Greggs during a period of significant change, he has been involved in developing the strategy.

You two are gold mad...................................

SSE: HSBC shifts target price from 1440p to 1470p and keeps a neutral rating

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Severn Trent: Bank of America revises target price from 1540p to 1680p and upgrades from underperform to neutral.

SAB Miller: Citigroup takes target price from 3200p to 3460p, while its buy recommendation is maintained.

Resolution: Deutsche Bank shifts target price from 256p to 260p retaining a hold rating.

Prudential: Morgan Stanley takes price target from 1044p to 1054p and stays with its overweight rating.

Pennon Group: Bank of America raises target price from 600p to 640p keeping an underperform rating.

Pearson: Barclays upgrades to neutral from underperform.