Member Info for jange

Positive Points: While cautious regarding 2013, management was more upbeat regarding 2014, highlighting the World Cup in Brazil, the Winter Olympics in Sochi and the mid-term Congressional elections in America. WPP reported estimated net new business billings of £2.48 billion were won in the first half of the year, more than double that in the first half of last year. The group continues to grow via bolt-on acquisitions. Deals done continue to be of small and medium sized companies, focused on new markets, new media and consumer insight. During the half year, the group completed 40 transactions, 20 acquisitions and investments were in new markets (of which 14 were in new media), 13 in consumer insight, including data analytics and the application of technology, with the balance of 7 driven by individual client or agency needs. WPP continues to enjoy geographical diversification. Management continue to focus on containing operating costs

Negative Points: The company deemed 2013 ‘likely to be more challenging', citing a lack of major sporting or political events that will impact advertising and likely to offset faster economic recovery for the sector. The Middle East, as in 2011, remains the most challenged sub-region, not helped by political instability. Each WPP company operates in a fiercely competitive sector. The company is exposed to foreign exchange risk. Over 40% of group profit is geared to the US dollar.

financial Highlights: Profit before taxation increased to £357.7 million from £334.3 million last year. Revenue improved to £4.97 billion, up from £4.71 billion a year earlier. The Board has recommended a first interim dividend of 8.80 pence per ordinary share, up 18%.

Interim Results: WPP nudges down full year revenue growth. WPP PLC, the world's biggest advertising company saw revenue growth slow in North America and Western Europe in the second quarter but improve in Britain, while Asia Pacific, Latin America, Africa, the Middle East and central and eastern Europe remained its strongest markets. Overall, the group slightly lowered its full-year outlook from 4% to 3.5%, after raising it in April. CEO Sir Martin Sorrell said "WPP had benefited from increased advertising and promotional spending across most of its major geographic and functional sectors, although adding that clients continued to demand increased effectiveness and efficiency". Acquisitions, once more contributed to overall sales growth. A total of 40 transactions were completed in the first half of 2012 - 20 acquisitions and investments were in new markets (of which 14 were in new media), 13 in consumer insight, including data analytics and the application of technology, with the balance of 7 driven by individual client or agency needs. Despite a mixed outlook, WPP reaffirmed its commitment to deliver annual profit growth of between 10 and 15%. Shareholders will also be buoyed by the group's decision to raise its dividend to 8.8p per share, an increase of 18%.

Company overview The Group's core activity is the provision of communications services worldwide. The Business is divided into four key areas: Advertising & Media Investment Management; Information, Insight & Consultancy; Public Relations, Public Affairs and Branding & Identity and finally Healthcare & Specialist Communications. Brands within the group include J Walter Thompson, Ogilvy & Mather and Young & Rubicam. Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has a secondary listing on NASDAQ.

● Shares in North River Resources (LON:NRRP) rose after it unveiled “encouraging” channel sampling results from its Namib lead-zinc project. ● The company believes there is potential for “significant semi-massive to massive zinc-lead mineralisation” below the previously mined areas. ● Final tests of the preliminary metallurgical test work programme are now being completed to be incorporated into a conceptual engineering study scheduled for next month

Yes got it on my watch list.........as langyy says very little shares on offer im going to mull it over........

investec has upgraded its rating for 888 Holdings from 'sell' to 'buy' and hiked its target price from 18p to 95p after the online gaining group's first-half results. Following the first-half figures and adjusted longer-term outlook, the broker has raised its 2012 earnings before interest, tax, depreciation and amortisation (EBITDA) forecast from $47.0m to $57.1m and its 2013 estimate from $47.2m to $61.3m. "888 has made significant progress in driving the business forward over the past 18 months, with a change in CEO and subsequent strategic direction, more effectively targeting a higher volume of actives with a materially improved product offering," said analyst James Hollins. "Although regulatory and tax issues remain, the cornerstone of our historic bear stance, we regard the business improvements as tangible and long-term

Jefferies has reduced its target price for security group G4S from 285p to 275p and maintained its 'hold' rating, saying that reputational repair following the Olympics contract issues could take some time. "Rehabilitation from Olympics issues is likely to take some time and we suspect G4S's valuation multiple will be subdued by fears that the reputational negative may impair trend EPS growth," Jefferies said. "Until uncertainty recedes, the PE [price-to-earnings ratio] multiple is likely to remain rooted in the bottom quartile of its 9-17x through the cycle range.

UBS has maintained its 'neutral' rating for oil giant Cairn Energy, saying that while the company is going in the right direction, there's still 'some way to go'. "Following Cairn's 1H we feel the company is now well on the way to having the foundations for becoming a full cycle E&P with exposures to various levels of risk: low risk development in the North Sea, low/medium risk exploration in the North Sea, and higher risk, and frontier exploration in Greenland, Spain, Morocco, and potentially Cyprus," the broker said on Wednesday. "Yet with development and high impact exploration not kicking in until late 2013/2014, we are still of the view that it is too soon to change our 'neutral' view on the stock." UBS has increased its core net asset value (NAV) per share forecast from 293p to 304p and raised its target price from 275p to 300p. "Cairn is trading at a 3% discount to core NAV versus the sector on a 2% premium."

Iain Ferguson, the Chairman of work-wear and wash-room facilities provider Berendsen, bought up 10,000 shares on Friday, the same day it posted a six per cent rise in adjusted pre-tax profit for the first half of 2012. Ferguson purchased the shares at 520.5p for a total £52,050, bringing his total holding in the firm to 110,000. The firm announced on Friday that profit before tax rose to £39.6m from £30.4m the year before on revenue that eased to £488.2m from £495.9m, although on an underlying basis (excluding acquisitions and currency effects) revenue rose 2%. Adjusted profit before tax, which excludes one-off items, rose 6% to £51.5m from £48.4m in the corresponding period of last year. Earnings per share improved to 17.1p from 12.9p in the first half of 2011. "The board expects first half trading trends to continue for the balance of 2012, resulting in good year on year progress in line with our expectations," Ferguson said on Friday.

The financing will be completed in two tranches via the issue of a £3,195,900 convertible loan and the issue of 13.8m new ordinary shares in the company at a price of 51.65p per share. The new shares would raise a total of £7,134,091, the firm said. The loan note will automatically convert to 6,187,626 ordinary shares when the placing closes, meaning Xintai will invest a total of £10.3m to acquire a total of 20m new ordinary shares

Shares in Vatukoula Gold Mines leapt over twenty per cent on Wednesday after it announced a new Chinese investor was on board and paying a significant premium for new shares. The AIM-listed gold producer said it had entered into an agreement with the Shengen Xintai International Mine Industry Group, with the latter agreeing to invest £10.3m for the issue of 20m new ordinary shares. This would be at a premium of approximately 60% over the share price as at 28 August, the firm said. Vatukoula said the proceeds would be added to working capital and used towards a number of key strategic objectives including the Vatukoula mine's ongoing development and capital investment programme. This would allow the mine to increase production to a sustainable and profitable level, the company said. Chief Executive David Paxton, said Xintai's investment was a significant step for his firm. "It is not only a vote of confidence in the Vatukoula Gold Mine but it puts the company on a sound financial footing for the expansion of the mine and allows us access to further technical expertise via Xintai's technical partners CGST," he said.

Increased production at Sierra Rutile saw the miner rocket back into the black with revenues five times as big as the year before. Revenue came in at $98.7m in the first half of the year, a 394% increase on the $20m it made the year before. Pre-tax profits were $56.7m, up from a loss of £14.4m in 2011, with earnings per share rising to 11c. The company, which operates out of Sierra Leone, put the results primarily down to higher sales volumes during the period, which were up 48% on the year before. This was coupled with an extremely strong pricing environment, which saw a 341 % increase in average rutile prices on the first half of 2011. The only cloud on the horizon was the impact of Sierra Rutile having to stockpile zircon during the period, compared with the 5,900 tonnes it sold the previously. The results showed a step change in production, with a 57% increase in rutile production to 42,610 tonnes. Rutile is predominantly used in the manufacture of white pigment for paint and plastics. There was also a 67% increase in ilmenite production to 10,315 tonnes. "With our continued strong production from existing assets and the introduction of our growth projects, scheduled to deliver significant production increases over the coming years, we are extremely well positioned for the future," said Chief Executive John Sisay.

Following the reshuffle at the top, current Finance Director, Wilson Jennings, will take over as Managing Director of the group's main trading company with immediate effect. He will then take on the CEO job when the incumbent leaves. Holmstrom praised Grimond for his role in repositioning the business to focus on public transport monitoring systems and the more recent expansion in mainland Europe. "Wilson is well known and respected by our staff, customers and suppliers and we are confident of a seamless transition into this role and continued momentum in the business going forward," he added. Following the announcements the firm's shares fell 13% by 1030 on Wednesday morning.

Shares in 21st Century, a leading supplier of public transport CCTV, fell after it announced the resignation of its Chief Executive and raised questions about meeting expectations this year. The firm said Nick Grimond had resigned his position as CEO for 'personal reasons' and would leave the company on 28 September 2012. The firm was currently trading in line with management's profit expectations but meeting targets depended on several contracts coming through in time. "The full year profit expectation is weighted toward the second half of the year and, while the group's current order book and sales prospects support management's expectations for the full year, achievement of these forecasts will depend upon a number of potential contracts being confirmed and fulfilled before the year end," said Chairman Jan Holmstrom. "Regardless of this we expect that the profit for the current year will exceed that achieved last year," he added. The company posted revenue for the first six months of the year of £7m, down from £7.8m in 2011. Pre-tax profits were unchanged at £0.7m and the board said it would consider a dividend.

MBL Group, an audio and visual entertainment distributor, appears to be clawing its way back to health after losing its most important customer, Morrisons, last year. In its full year results to the end of March, revenues dropped massively, from £195.3m to £28.1m. Revenue from continuing operations dropped from £20m to £17.7 while the loss before tax came in at £2.1m (from discontinued operations this figure was £8.8m). Group loss per share was 40.8p. Nevertheless, MBL is free from debt and has cash balances of £4.0m and a headcount down 75%. This was enough to boost the stock 8% in morning trading.

Glanbia, a nutritional solutions and cheese maker, has announced plans to enter a joint venture to incorporate the business and assets of Dairy Ingredients Ireland. The business is the largest dairy ingredients processor in Ireland, assembling a milk pool of 1.6bn litres and processing it into around 180,000 tonnes of ingredients, largely for export. The group also reported first half results on Wednesday showing pre-tax profits up 24% on the prior year. Glanbia's shares were up 4% at 11:28.

Eastern Platinum has moved to quash rumours of a strike at its Crocodile River Mine (CRM) in South Africa. The firm issued a warning to journalists and analysts, saying "erroneous statements...might cause disruption to operations or possibly inflame an already volatile situation in South Africa, as well as contribute to misinformation on the market". It said mining operations at CRM were unaffected by the recent tragic events that occurred at Lonmin's Marikana mine, where more than 30 people were killed when police opened fire on strikers armed with clubs and machetes. A pay dispute at the mine had been exacerbated by tensions between rival trade unions, the National Union of Mineworkers and the recently-formed Association of Mineworkers and Construction Union. "These work stoppages do not refer in any way to Eastplats' CRM operations," the company said. "The company respectfully suggests that commentators validate their sources and confirm such reports with the company prior to making erroneous statements," it added. EastPlats was hit by strikes in October last year after a dispute between one of its contractors, JIC Mining Services, and the National Union of Mineworkers. That strike, which was reported to be peaceful, cut production in hal

Mining group African Copper has revealed the initial inferred resource estimate for the Mowana North Area in Botswana as 56.8m tonnes grading 0.45 per cent copper. Drilling has been conducted over an area covering 2km by 300 metres with samples taken across the mineralised orebody for testing. The results were categorised as inferred because it was not possible to identify a continuity of high grade intersections between boreholes. The estimate may be recategorised once additonal, more closely spaced infill drilling between current section lines occurs. Jordan Soko, Acting Chief Executive of African Copper, said: "Our exploration drilling programme at Mowana continues to demonstrate extensions to the main orebody - southwards, as announced last year, and now northwards. The exploration campaign will focus on infill drilling to prove up the inferred resources announced today." The estimate extends the known copper mineralisation an additional 2km northwards, it added.