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Commenting on the disposal, John Talbot, Executive Chairman of Johnson Service Group, said: "In July we announced the conclusion of a strategic review of our dry cleaning business. As part of that review, it was decided that Alex Reid was not a core business for the group going forward. We are pleased that we have secured a multi-year agreement to continue to use the services of Alex Reid under its new ownership."

Textile services and facilities management provider Johnson Service Group has sold its shares in dry cleaning subsidiary Alex Reid for a cash consideration of 2.1m pounds. The proceeds from the sale of shares, which were sold to detergent supplier Christeyns UK on a debt-free basis, will be used to reduce the company's debt. The consideration is subject to adjustments to reflect the actual net assets of Alex Reid at completion. The total revenue of Alex Reid for the year ending December 31st 2011 was £12.1m of which £3.6m was related to inter-company contracts. Adjusted operating profit was £0.2m. As of June 30th 2012, Alex Reid had net assets excluding debt and inter-company debt, of £2.3m. Johnson Cleaners UK, Johnson Services Group's retail dry cleaning business has signed a three years supply agreement with Christeyns on terms similar to those in operation between Alex Reid and Johnson Cleaners prior to the disposal.

Digital Barriers, a provider of surveillance technologies to international homeland and defence markets, has conditionally placed 7.17m new ordinary shares at 145p per share to raise approximately 10m pounds after expenses for the company to further implement its stated strategy. Tom Black, Executive Chairman of Digital Barriers, said: "Our shareholders have again demonstrated their continued support for our business and their understanding of our strategy and goals through their response to our placing. We remain excited by the opportunities for growth that lie ahead." The purpose of the placing is to raise funds to be used by the company to further implement its stated strategy. In particular, the directors intend to use the net placing proceeds to finance the acquisition of a fourth core technology, which is currently in advanced discussions. Digital Barriers was established in 2009 and works with governments, multinational corporations and system integrators across defence, law enforcement, critical infrastructure, transport and natural resources, delivering intelligent surveillance information from remote, hostile and mobile environments.

Oil and gas production group Volga Gas has completed an independent evaluation of the its oil, gas and condensate reserves by Miller and Lents. The independent assessment focused on the reserves and net present value of future net revenue attributable to the Company's three principal fields in Russia; Dobrinskoye, Vostochny Makarovskoye and Uzenskoye, as at August 1st 2012. The reserve report attributed proved and probable reserves of 16.1m barrels of oil and condensate and 167.5bn cubic feet of gas, for a total of 44.0m barrels of oil equivalent to the company's principal fields, and a net present value of $301.2m with a 10% per annum discount rate. Mikhail Ivanov, Chief Executive of Volga Gas commented:"This report is a welcome third party validation of our reserves and the NPV [net present value] attributed to them, which highlights the potential value contained within our acreage. We look forward to delivering this value as well as further exploration and appraisal opportunities."

Redhall Group, the specialist engineering support services firm, said that after a testing year the worst was behind it. The Yorkshire-based company has been hit by a number of contract issues, including an expensive legal battle with Vivergo over a biofuels plant. Underlying revenue for the year ended 30th September was down 5.6% to £119.5m was 5.6%, while pre-tax profits plunged 50.3% to £1.9m. Diluted earnings per share stood were down 49% to 4.8p. The firm posted exceptional items in the year of £5.9m, the majority of which related to costs on the Vivergo legal dispute of £2.5m and provisions on legacy contracts of £2.6m. The company does not anticipate that any further provisions will be needed in future for these legacy contracts. Chairman David Jackson said the prospects for the next 12 months looked encouraging, with strength in the oil and gas market and opportunities afforded by the Crossrail project in London where the firm is a specified supplier. "The opportunities for our manufacturing business in particular look outstanding over the next three years," he added.

Absolute Radio will market the game and share revenue from a 69p payment option through which users can buy additional decade-specific song bundles. Chief Executive Simon Cole said the smarter players in the broadcast industry were now moving from simple streaming apps to mobile experiences which give listeners new and exciting ways to interact with stations. "We are proud to be at the forefront of these developments with two global leaders in digital media and to open up new opportunities for shared advertising and in-game purchase revenues," he said.

Multimedia content firm UBC Media jumped after it announced details of two mobile app contracts. The firm has created a suite of mobile applications for the Canadian NRJ and Virgin radio networks, which offer an on-demand music and video streaming service. These new applications make owner Astral Radio the only radio broadcaster in Canada to offer such a service, it said. UBC will receive a share of the revenues from the sale of mobile advertising in the apps. The company also said announced Absolute Radio would be the first to launch its mobile music game, developed as a 'white label' product, which can be customised to suit individual stations. The game, branded as 'Rock Off', is a free interactive mobile gaming app which tasks listeners to be the fastest to identify a song from a short clip or intro allowing them to show-off their knowledge and love of music from some of the world's biggest acts.

Renewable energy investment firm KleenAir Systems saw revenues fall in the last year but cut its losses as it got a handle on overheads. Revenue for the year to the end of June fell to £26,446, from £35,047 in 2011. Pre-tax losses were £134,949, pared back from £163,353 the previous year. That equated to losses per share of 0.221p, an improvement on the 0.357p loss before. "Since KleenAir's interim results, the board has been primarily focused on ensuring the business reduced its overheads and continued to implement its investing policy in order to generate returns to shareholders," it said.

Positive Points: Overall, Standard Chartered said profit before tax for the group is expected to grow at a mid-single digit rate. Excluding the US DFS settlement, profit before tax is expected to be up by a double digit percentage. The bank said a number of geographies had shown strong performances in 2012 with the following regions each expected to grow income at double digit rates year-on-year - Africa, the Americas, UK, Europe regions and Malaysia, China and Indonesia. Standard Chartered is one of few banks still expanding its headcount. The bank's network is gathering apace in markets such as China and Africa. Furthermore, with investment in Wholesale banking and in mobile technology, headcount levels are expected to be 1,800 higher than the end of 2011. Expenses continue to be tightly managed by management. Notwithstanding the US DFS settlement, income growth is expected to be ahead of cost growth over the full year. Standard Chartered survived the global financial crisis without Government assistance. More than 90% of Standard Chartered's income and profits are derived from Asia, Africa and the Middle East. In terms of economic performance, these regions have been outperforming rival regions such as Europe. A progressive dividend policy continues to be pursued. In August, a 10% increase to the half year or interim dividend was declared. Management reiterated that the bank’s balance sheet remains well diversified and conservative, with limited exposure to problem asset classes.

Negative Points: Despite being on course to deliver a strong set of results, Standard Chartered warned that it is expected to pay a total of $670 million to US regulators to settle allegations that it breached sanctions with Iran, denting profit growth. The four US regulators the bank is negotiating with are the Federal Reserve Bank of New York, the Office of Foreign Assets Control, the District Attorney of New York's Office and the Department of Justice. Investigations remain ongoing. Further fines relating to the breaches are thought to be likely. The group remains sensitive to the global economic health in Asia and China in particular. Currency headwinds, impacted by the continued weakness of Asian currencies against the US dollar remain an ongoing concern. Many of the markets in which the group operates are strategic growth priorities for rivals. Uncertainty and ever more complex regulatory requirements, linked to capital adequacy, continue to overshadow. Geopolitical developments provide potential ongoing risks. Politics and wider regional tensions could raise difficulties in such places as the Middle East, South Korea and South Africa.

Financial Highlights: Standard Chartered said it expects to pay $330 million to settle a case with US regulators for failing to comply with sanctions against Iran. The amount is on top of $340 million it paid to New York's Department of Financial Services (DFS) in August.

Trading statement: Standard Chartered back on track as it eyes closure on US sanction issues. Standard Chartered is firmly back on track after August's travails. The implication from the bank's statement is that the US situation is very close to a resolution which is also likely to be less costly than for some of its rivals. To remove such uncertainty is a positive sign and allows investors to refocus on the business. Standard is a rare example of a bank in hiring mode at present, particularly in the likes of China and Africa where it continues to position itself ahead of further anticipated growth. The update also makes reference to a number of improving metrics, despite the US fine, such as revenues, lower loan impairments, general asset quality and strength in liquidity and capital. Over the last six months the shares have staged a quiet yet robust recovery, having risen 15% as compared to a 9% gain for the wider FTSE100. The performance over the last year is more pedestrian (+2% versus +6%) but today's statement will do much to reassure cautious investors. This return to "business as usual" has been reflected in a recent strengthening of market consensus,

Company overview Standard Chartered is named after two banks which merged in 1969. They were originally known as the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. More than 90% of its income and profits are derived from Asia, Africa and the Middle East. The bank is one of the world's most international banks, with over 1,700 branches, offices and outlets in more than 70 countries. It operates via two business segments: Consumer Banking, which meets the needs of small and medium-sized enterprises (SMEs) and personal banking customers and Wholesale Banking, which includes lending and portfolio management. It is listed on both the London and Hong Kong Stock Exchanges.

Investec has reiterated its 'buy' rating and 1,800p target price for emerging markets lender Standard Chartered following the group's pre-close trading update, saying the business is 'sitting pretty'. "STAN may have travelled well ahead of today's statement, but with improving momentum into 2013e, we remain committed buyers," analyst Ian Gordon said. UBS has cut its target price for accountancy software group Sage from 305p to 300p and kept its 'neutral' rating for the stock, saying that the second half was "solid" but upgrades to forecasts are unlikely. The broker said: "We believe management's FY13 targets are in line with current consensus estimates and see little likelihood of upgrades." Premier Farnell may have received a pleasing market reaction to its third-quarter statement on Thursday, but Panmure Gordon has reiterated its 'sell' rating for the stock, saying that conditions remain tough for the electronics components supplier. Analyst Andy Brown said: "Recent results from the group have tended to come in on the disappointing side. Senior management change is unlikely to signal a shift in strategy. Global PMI data also remains uncertain suggesting some difficult months ahead."

Oil services minnow Plexus (POS) is an exciting growth play. It is enjoying a virtuous circle of contract wins delivering higher earnings which in turn supports investment in new capacity and therefore even more new work. The substantial momentum in the Aberdeen-based business was demonstrated by October's results for the year to 30 June (16 October). These revealed pre-tax profits up nearly 100% to a record £31 million, outpacing expectations. Plexus' POS-Grip well-head technology has a key advantage over existing technologies. Unlike the traditional well-head it does not require the removal of the blow-out preventer, an important safety device, to terminate and seal the well casing strings (the pipes within an oil well through which crude is extracted). The system is gaining traction within the industry, with £6.2 million worth of new contracts won since 28 September 2012. Demand is currently 'outpacing capacity to deliver' according to Chief Executive Officer Ben van Bilderbeek. In response Plexus has outlined plans to increase its rental well-head inventory. The company should be able to fund the majority of this expansion out of cashflow but also has a largely undrawn £6 million lending facility on hand.

Oil services firm Kentz (KENZ) is going after a pipeline of contracts worth $13.1 billion. This should see the company maintain its record of double-digit EPS growth. The current rating fails to reflect this potential. Based on a consensus forecast 2013 EPS of 41.4p it trades on a price/earnings ratio of 8.9 against a sector average of 11.5. The Irish company has a strong track record of execution and unlike mid-cap peers such as Cape and Lamprell has not blotted its copy book by warning on profits since becoming a public company in February 2008. Its robust performance is supported by a diverse business mix and wide geographic spread. It is active in the Americas, Canada, Dominican Republic, South Africa, Mozambique, Middle East, Russia and Australia and its client base is principally made up of blue-chip companies. The £427 million cap is good at positioning itself for future growth. A long-term training agreement with the Mozambique government, for example, means Kentz is well placed to take advantage of the opportunities arising from the large liquefied natural gas facilities set to be developed off the country's coast. The dividend yield, at 2.5%, is modest but the company is committed to a progressive policy and the dividend per share increased from 5.7c in 2008 to 12.3c in 2011.

"We expect revenue growth in the second half of the financial year ending April 30th 2013 to remain relatively modest, as the organic growth in commercial revenue is partially offset by pressure on concessionary, tendered and contract revenue." Stagecoach said it remains positive on the prospects for its regional bus operations and says the division is well placed to deliver some growth in operating profit in the year ending April 30th 2013. "Our bus operations in the UK have proved robust and continued to perform well during weak macroeconomic conditions and a period of downward pressure on Government spending." It sees good potential to grow its transport operations in the UK and North America, and believes the outlook is positive. Underlining its confidence in future trading, the interim dividend has been lifted 8.3% to 2.6p.

FTSE 250 public transport firm Stagecoach said like-for-like revenue grew 5.9 per cent in the half year to October and expects revenue growth in the second half to be 'relatively modest'. Total operating profit, before intangible asset expenses and exceptional items, for the six months to October 31st climbed 33.7% to £142m while revenue for the period increased to £1.403bn from £1.293bn in 2011. Earnings per share surged 66.3% to 16.8p after profit growth from its bus operations and as its rail operations were boosted by revenue at East Midlands Trains. Stagecoach, which runs Virgin Rail with Richard Branson's Virgin and is the current operator of the West Coast rail network franchise, said revenue at UK rail rose 6.6% to £599.9m in the last six months. UK bus revenue slipped 0.6% to £116.4m while revenue at its North American division rose 19.8% to £316.4m. Chief Executive Sir Brian Souter commented: "In the UK, we have achieved further growth in our regional bus operations and we continue to make good progress at our contracted London bus business. Passenger revenue growth remains good on our UK rail networks and we have further developed the alliance with Network Rail at South West Trains."

FTSE 100 miner Polymetal said it was giving 191m dollars back to shareholders after solid financial results. The firm said that having "considered the performance of the group during the year to date, available free cash flows and future investment requirements", it would pay special dividend of $0.50 per ordinary share on 21st January. The move follows a change in divined policy in October, which now states regular dividends should represent 30% of the company's net earnings provided that net debt / adjusted EBITDA is below 1.75. Chief Executive Vitaly Nesis said the declaration of the first special dividend in the company's history reaffirmed the group's commitment to capital discipline and was also a result of solid operating and financial results. "The implementation of our new dividend policy reflects the importance we place on delivering meaningful cash returns to our shareholders and sustainable value creation," he said. The shares go ex-dividend on 12th December and there is an option for shareholders to elect to receive the dividend in pounds sterling.

Brewin said it was "very conscious of the need to return to a progressive dividend policy" after years of financial turmoil, as well as investment in IT and dealing with regulation costs. Executive Chairman Jamie Matheson said equity markets had remained remarkably resilient and there was some sign of improved trading volumes since the summer. "Many of the problems that caused concern in the financial services industry during the past year remain unresolved," he added. "This particularly relates to the euro and more generally to prolonged economic weakness throughout the developed world."