Member Info for jange

Qfi doing its thing sit back now and wait imho.....

Fact is home retail the group becoming a surprise Christmas winner........gl all....

The gross profit margin at Homebase has improved year to date, although was down over the third quarter. The key positive drivers were the anticipated benefit of favourable currency and reduced shipping costs, along with a reduced level of customer participation of promotional offers in the first quarter. As of the half year results, internet sales participation grew by 25% year on year to almost 5% of Homebase total sales. The group's year end cash balance is expected by management to be in excess of £300 million.

Positive Points: Management raised its profit guidance for the current full year. It now expects group benchmark profit before tax for this financial year to be about £10 million ahead of the current market consensus of £73 million. Like-for-like or same store sales at Argos exceeded expectations Internet sales for the year to date represented 42% of Argos' total sales, within which mobile commerce sales grew by 125%. Customers begun using its new tablet and smartphone apps and improved website functionality. Management previously highlighted that Argos was the second most visited internet retailer in the UK. Back in October (2012), management outlined a five-year Argos transformation plan, with the aim of reinventing it as a digital retail leader. The plan is underpinned by a three-year investment programme during which period Argos aims to transform itself from a catalogue-led business to a digitally-led business. A series of financial targets are being pursued. There are four key elements to the transformation plan: Reposition Argos' channels for a digital future; Provide more product choice, available to customers faster; Develop a customer offer that has universal appeal; and Operate a leaner and more flexible cost base.

Negative Points: Homebase same store sales declined by 3.9%, principally driven by the continued weakness in big ticket sales. Management comments noted that "we anticipate consumer confidence will remain subdued in the coming year." Despite announcing a transformation plan at Argos, investor patience will be required. A five year plan was outlined. The Argos store base is to be adjusted, with 75 stores targeted for closure or relocation. However, the cost of breaking lease agreements is considered to have proved a factor in the five year timeframe. The group's dividend is being rebased. Management noted that it "is mindful of the investment needs of the group and will set the full year dividend at a level which is both sustainable and provides flexibility to grow the dividends as earnings increase over time." Competition remains fierce. Supermarkets have over recent years invested in their non-food and online offerings, with Tesco now operating its own catalogue service. Against a backdrop of public spending cuts, rising taxes and below inflation wage rises, consumer sentiment remains fragile.

Highlights: Argos same store sales grew by 2.7%. Internet sales for the year to date represented 42% of Argos' total sales Homebase same store sales contracted by 3.9% Argos gross margin declined by 0.5% Homebase gross margin declined by 0.5%

Third quarter trading update: Argos enjoyed a good Christmas - same store sales rose by 2.7%, far exceeding forecasts for a marginal gain (+0.2%). As a result, current full year profit guidance was increased, with the share price up over 10% in early trading. Consumer desire to shop online, the demise of competitor Comet and management's new strategy to move from a catalogue orientated to an internet driven business looks to have underwritten performance. On the downside, the stagnant housing market continues to pressure sales at Homebase (same store: -3.9%), whilst the required investment to move Argos forward will provide some cost drag on margins near to medium term. For now, management appears to have moved some way in convincing investors that the company can prosper in the internet age. The Argos business model does lend itself to the 'click and collect' arena, whilst the desire to reduce the cost base, cutting store numbers and even moving to lower rental locations, clearly exists. In all,

Positive Points: Flows into Aberdeen's equity products were reported as remaining strong, with its Asia Pacific product having been particularly popular in the latest quarter. Inflows to Aberdeen's emerging market debt funds accelerated, with £0.8 billion of net inflows reported during the quarter. The Board said it remains committed to a progressive dividend policy. Aberdeen Asset Management was promoted to the FTSE-100 index for the first time in its 29 year history in March 2012.

Negative Points: Management retained a degree of uncertainty in its outlook, prompted by the global economic backdrop. The fund manager had reiterated its note of caution over the high level of inflows into emerging market equities, which the company said have continued "at a higher rate than we are comfortable with". As with any asset manager, declines in global stock market levels could see investors moving cash elsewhere. A disruption or departure within the group's investment team could lead to an outflow of assets under management.

Financial Highlights: As at 31 December 2012, assets under management rose 3% to £193.4 billion (30 September 2012: £187.2 billion). £10.8 billion of new business was won in the quarter, said the company (quarter to 30 September 2012: £9.0 billion). Aberdeen recorded net inflows in the period of £1.1 billion.

Trading update: Fund manager Aberdeen Asset Management reported strong inflows and performance in equities that boosted funds under management by 3% in the last quarter of 2012. Management expressed that the firm's overall performance "continues to be strong" although adding that while stock markets worldwide have begun 2013 with a "more positive" tone, "we believe that uncertainty still persists and that further periods of volatility remain likely in the months ahead". Gross new business wins in the quarter totalled £10.8 billion, up from £9.0 billion the quarter before, and while outflows increased from £9.0 billion to £9.7 billion, Aberdeen recorded net inflows (new business) for the quarter of £1.1 billion. The firm said that the trend seen in 2012 has continued, whereby inflows have been attracted into higher margin pooled funds investing in both equities and bonds, whilst outflows have been mainly from lower margin segregated portfolios. Flows into its equity products have remained strong, it added, with its Asia Pacific product having been particularly popular in the latest quarter. Net inflows to emerging market equities had continued at a higher rate than the company is comfortable with, it said and is working to achieve a slowdown to ensure performance is not compromised.

http://www.investegate.co.uk/inland-homes-plc-(inl)/rns/land-update/201301170700057244V/

http://www.investegate.co.uk/earthport-plc-(epo)/rns/agreement-with-bbt/201301170700067345V/

Press Release 17 January 2013 VPhase plc ("VPhase" or the "Company") Director Dealing The Company can confirm that on 15 January 2013, the Company's CEO, Rick Smith completed his subscription for 12.8 million shares at the Placing Price, following the successful Admission of the Placing Shares, which was previously disclosed in the announcement dated 21 December 2012. His resultant holding in the Company's shares will total 26,744,149, representing 1.9 per cent. of the enlarged share capital. - Ends -

Home Retail Group: Barclays shifts target price from 70p to 73p and retains an underweight rating.

Fenner: Investec shifts target price from 415p to 420p, while retaining a hold rating.

Eurasian Natural Resources Corporation: JP Morgan ups target price from 275p to 300p, while the neutral rating is maintained

Diageo: Nomura lowers target price from 2070p to 2040p, while the buy rating is kept. Societe Generale reduces target price from 2050p to 1900p and downgrades to hold.

cOLT Telecom Group: Deutsche Bank cuts target price from 155p to 145p, while its buy recommendation is reiterated.

Capital Shopping Centres Group: JP Morgan increases target price from 380p to 400p and upgrades to neutral.