Member Info for jange

Salmon - which operates from offices in the UK, China and Australia - will continue to operate as an independent and stand-alone brand within WPP and be led by Chief Executive Officer (CEO), Neil Stewart. "With increased client exposure and access to new geographies, our partnership with WPP will help fuel the next stage of our evolution into a global full-service digital delivery agency," Stewart said. "We are delighted to be able to do this whilst preserving Salmon's independent culture and maintaining our focus on serving our clients." Sir Martin Sorrell, CEO of WPP, said the partnership would bring customers a new offering of marketing and technology in strengthening its digital capabilities.

Advertising group WPP announced Wednesday it purchased the entire issued share capital of Okam, the holding company of digital consultancy firm Salmon Group. The FTSE 100 company said the acquisition would improve its position in e-commerce which has become of increasing importance to retailers, manufactures and brand owners. Sales in e-commerce are growing 10% per year, WPP added. Salmon's clients have won awards for e-commerce and multi-channel achievements including Retail Week's Multichannel Retailer of the Year, Technology Solution of the Year and Multichannel Integration Project of the Year. The group provides digital consulting, design, delivery and support services to retail, wholesale and manufacturing customers including Akzo Nobel, Argos, Game, Halfords, Kiddicare, Morrisons, Selfridges and Premier Farnell.

The group's net borrowings at the end of December were £30m, with the order book stable at £209m. The company is in discussions with its lending banks regarding compliance with its covenants, which will continue with the aim of placing the group on sound financial foundations that support its UK business and the further development of its Indian joint venture. John Dodds, Executive Chairman, said: "Severfield-Rowen is the UK's market leader in structural steel and the development of its Indian activities is encouraging. Our order book remains stable, despite challenging current conditions, and the board is confident that the longer term fundamentals of the group are strong. "I am, however, extremely disappointed in the need to make this latest trading update. My task, now, is to re-establish the credibility of the group with all its stakeholders, bring greater control and discipline to its operations and secure Severfield-Rowen's longer term financing

The group said it has concluded that a change to the leadership of Severfield-Rowen is required to "re-establish confidence with all the group's stakeholders". Accordingly, Tom Haughey, Chief Executive, is standing down from this role and leaving the board with immediate effect. John Dodds, Chairman, will assume the role of Executive Chairman with immediate effect pending the appointment of a new Chief Executive. The group added that it is actively engaged in a search process to identify a permanent Chief Executive. Funding situation

Shares in Severfield-Rowen plummeted on Wednesday after the structural steel group announced changes to its senior management on the back of a further decline to its UK performance and the resulting pricing pressures. The company, which has previously reported that its UK businesses have been operating in a difficult climate, said that this has continued, with pricing pressure and protraction of contractual settlements posing "significant challenges" as clients and the supply chain compete harder in a shrinking market. "Since then our UK performance has been further, and materially, adversely affected by cost overruns on our 122 Leadenhall contract," the group revealed. "As a result, the board intends to review expeditiously its current contract base and will provide a further update to the market, as soon as possible, when it has greater clarity on the financial impact of this exercise." All change at the top

It noted that key ingredients such as sugar, egg and flour are also inflationary as are more general costs such as energy. Finsbury said it will focus on internal efficiency improvements as well as sales growth and recovery of commodity inflation via pricing. The group said it remains confident of continued growth and efficiency opportunities across its businesses and is trading comfortably in line with profit and debt reduction expectations. Chief Executive John Duffy added: "Following last year's significant sales growth ahead of the markets in which we operate, I am pleased with the resilient growth and efficiency improvements delivered in the first half... in what has been a tough marketplace." The group, which raised almost £4m to fund its UK cake business, said it is confident of meeting its strengthened target balance sheet during 2013.

Finsbury Food, the cake, bread and gluten free bakery goods maker, reported an increase in sales for the first half of the year and said its outlook for the second half remains unchanged. Total sales revenues for the six months ended December 29th 2012 increased to £103.3m compared to £102m the year earlier, in line with company expectations. The UK Cake business grew 2% to £1.1m, broadly in line with the market forecasts. However Lightbody Europe, Finsbury's 50% owned joint venture business, fell by £1.6m or 17% due to adverse exchange rate movements. The group's Bread and Free From division saw an increase of £1.8m or 7% in sales from the previous year to £27.4m. Looking ahead the group said: "Our outlook on the trading environment has stood us in good stead during the first half and remains unchanged for the second half. Consumers remain under considerable financial pressure and continue to be value conscious and deal focused."

Oil and gas exploration company Jubilant Energy has revised upwards its prospective resources for its two Manipur Blocks in onshore India. Based on surface geology mapping and structural geology reconstructions, the group stated that its latest resource assessment showed that seven structural features had been identified in the two blocks. The structural features included Oinamlong and Nungba, located in the north block, Kharkublen which straddled both blocks, and Parbung, Pherzawl, South Songsan and Songtal which were located in the south block. The updated resources assessment stated that three of the features - Oinamlong, Nungba and Parbung - had been high-graded as prospects as there were plans to drill the wells in the near future. The rest of the wells were considered leads which would mature into prospects once they were included in the firm drilling plans

Results were also buttressed by the newly launched Zyla and iXon Ultra cameras and the completion of the upgrade of its production facility in Belfast. Gross margin increased to 55.7% while net cash increased 35% to £17.1m for the period. "Andor's management and staff have delivered real progress in difficult market conditions and your board is grateful to them all," Walsh said in a statement to shareholders. "Having the best products, structures and people in place positions us well and your board remains confident in the outlook for the year ahead.

Andor Technology delivered a two per cent increase in profits last year following strong sales in the Asia Pacific region, the company revealed Wednesday in its annual report. The group, which develops scientific digital cameras, posted an adjusted operating profit of £58.3m for the year to September 30th, compared to £57.4m the previous year. Adjusted profit before tax was £10m, up 3.0% from 2011 results. Chairman Colin J Walsh said difficult market conditions in the Americas, Europe, African and the Middle East proved challenging during the period. It constrained scientific research budgets which impacted sales, he said. However, a 32% rise in sales in the Asia Pacific region offset the weakness in less lucrative areas.

Marcus Engelbrecht, Managing Director and CEO, said: "The production result we achieved during 2012 is pleasing, particularly as this is Archipelago's first year at full production. "We not only delivered against our initial guidance on production, but did so at a cash cost well below that of many industry peers. This positive result is a testament to the quality of the Archipelago team, and I am confident that we can continue to meet our operational targets and sustain a superior performance at our Toka Tindung Mine into 2013."

Archipelago, an AIM-listed mining company, said Wednesday the Toka Tindung Mine in North Sulawesi, Indonesia, delivered 139,012 ounces of gold in the year ended December 31st. This was achieved at a cash cost of $635 per oz (net of silver credits), meeting both production and cash cost guidance set for the first full year of operations. In the final quarter of the year the group set a quarterly production record of 42,302 Au equivalent oz. Looking ahead to 2013, production is expected to be between 140,000 and 155,000 Au equivalent oz at a cash cost of between $620 and $680 per Au oz.

No only joking my 5th biggest holding at moment..........im in 18 at moment with my biggest ntog 2nd wres,3rd ore took some out of ore to put other places but still got a good holding there........

My no 1 shareeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

Result of AGM Wed, 23rd Jan 2013 09:26 RNS Number : 1787W MoneySwap Plc 23 January 2013 ? 23 January 2013 MoneySwap Plc ("MoneySwap") Result of AGM The Directors of MoneySwap Plc (AIM: SWAP), the Asia focused prepaid card and online payment servicesprovider, are pleased to announce that all resolutions were duly passed at today's Annual General Meeting ("AGM"), which was held at Unit 901, 9/F., China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong.

3i Group: Oriel Securities downgrades to sell with a target price of 230p.

William Hill: JP Morgan shifts target price from 385p to 390p, while staying with its overweight rating. Oriel Securities upgrades to add.

WH Smith: Panmure Gordon increases target price from 584p to 700p, while its hold recommendation remains unaltered. Bank of America raises target price from 725p to 775p and keeps a buy rating.

Stat Pro Group: Nomura upgrades to buy.

Silvermere Energy: Merchant Securities cuts target price from 16.70p to 14.40p, while retaining a buy recommendation.