Member Info for jange

Construction consultancy Driver Group said a jump in Middle East revenues had helped catapult it back into profit in the first half. The firm reported pre-tax profits of £731,000, up from a loss of £140,000 the previous year. Revenue increased by 35% to £10.6m compared with £7.9m for the same period in 2011. The principal increase in revenue was in the Middle East where revenue grew by 48% to £2.9m, outperforming expectations. The company will pay an interim dividend for 2012 of 0.3p per share, after not paying anything the year before. "In respect of the current financial year our secured revenues and revenue expected to be secured and delivered in the remainder of the year, give the board a high level of confidence in the outlook for this financial year," said Chairman Alan McClue.

Interim Chief Executive Officer, Jeremy Pelczer, said: "This has been a difficult time for the company and its shareholders following the failure to achieve an exclusive license agreement with Procter & Gamble. "However, with the changes we are making and with the new strategy in place, the company is positioned to deliver revenue growth from a reduced cost base. "Our focus is now firmly on our Public Health & Safety and Brewing, Food & Beverage Lines of Business and we will continue to explore licensing opportunities that we believe could generate returns for shareholders."

The group said that in the near term it will focus on two of its principal lines of business, Public Health & Safety and Brewing, Food & Beverage, due to the higher visibility sales opportunities and proven products in these areas with the potential to build businesses of scale. Revenues are expected to come principally from the pipeline of Brewing, Food & Beverage opportunities and sales of the First Responder System and M800 decontamination products. In addition, the company has started to identify suitable investors, partners, or other means of preserving future value from its intellectual property, in its Waste Treatment and US BioEnergy lines of business. The firm was keen to emphasise that a number of strategies are available for it to fund its growth, including industrial licences, joint ventures and partnerships and said it continues to explore a range of options. The cash balance as at June 22nd was £6.1m.

Pursuit Dynamics, a fluid technology firm, disappointed investors on Thursday after admitting that it has failed to convert recent opportunities in multiple lines of business into exclusive licences. This means that current year revenues are expected to be around £1.0m, although strong sales growth is expected in the next financial year, driven by established products and those now coming into production. The firm also announced plans to reduce the head-count to 40 from the current level of 61, a 50% reduction in head-count since October 2011. As part of the company's cost-saving actions, its Chief Financial Officer, Richard Webster, will be stepping down from the board on September 30th 2012. Richard's responsibilities will be assumed by the current Head of Finance, Alistair Miller, helping to reduce the cost of running the business to around £450,000 per month.

Elektron is putting in place measures to mitigate the impact of the economic cycle and continues to make good progress in its programme of organisational transformation." The update proved unpopular with investors, sending the share price down 4.93% to 16.88p.

Global technology firm Elektron Technology has said that it currenctly expects to meet market expectations for the full year following good sales in the first four months of 2012 which were broadly in line with the second half of the prior year on a pro-rata basis. This was despite the impact of the Eurozone crisis on the UK, Europe, Middle East and Africa, which make up two-thirds of group revenue. However, the firm warned that "effective visibility extends to around four weeks and the board's expectations may be subject to change depending on the macroeconomic picture". At its annual general meeting, the Chairman, Keith Daley, said: "Elektron's brands provide proven, sector-leading products in specific geographies, with considerable potential to expand into further territories, and in addition the group has several new product introductions scheduled over the rest of the financial year.

The company should also benefit from an incremental increase in production. Salamander expects its output to reach 12,000 to 13,000 barrels of oil equivalent per day (boepd) by the end of this year from the current level of 10,800 boepd

Buy South East Asian-focused oil explorer Salamander Energy (SMDR) as excitement starts to build ahead of an exploration campaign later this year across its acreage in Thailand and Indonesia. This drilling will target more than 500 million barrels of oil equivalent (mmboe) and should drive a progressive re-rating. The shares have fallen 27% since the company announced (27 April) a $212 million discounted rights issue. The resulting dilution looks priced in and the group will use the proceeds to both fund the aforementioned exploration work as well as efforts to boost production from its Bualuang field. Salamander is carrying out low-risk exploration in the Gulf of Thailand with six back-to-back wells from November with the higher-impact drilling set to take place in Indonesia. The £468 million cap has identified around 20 leads and prospects in the North Kutei basin with the four most advanced containing a prospective resource of 534 mmboe. A rig contract is being negotiated with four wells planned from the fourth quarter of this year.

Cheers mate need something going well,rest of portfollio is looking abit sad lol...

Good luck guys......

For long term take a look at kibo........if you read the rns's it will put you in the picture,they will be out of suspension soon..ive been in there for a while now....

That sounds very sensible to be honest........that 750 could end up with a nice bit of profit...

How long are you thinking of leaving it here........i can see alot more to come yet imho...

Thanks mate ....Langyy tells me you are interested in kefi......it will be a long play but have alot of faith there.......

Thought half was 70/30 lol.....

Going great guns here,its like a runaway train lol........

Essar Energy, the India-focused integrated energy company, was in the red despite saying that the first of two 255MW units at its Vadinar Phase 2 power plant has been synchronised with the transmission grid.

Industrial property specialist Segro fell despite selling four "non-core" industrial estates for £204.5m.

Shares in pharmaceutical giant Shire tanked in early trading after the US Food and Drug Administration approved a rival's application to make a generic version of its attention deficit and hyperactivity disorder (ADHD) drug, Adderall XR.

Wine merchant Majestic Wine is also extending its advance after reporting record annual profits on Monday. Pre-tax profit rose to £23.2m in the 53 weeks ended 2 April 2012 from £20.3m the same time a year earlier. Total sales were up 8.9% to £280.3m, just below forecasts of £281.4m. Like for like sales in UK retail stores rose 2.6%. Shares gained a further 1.74% today.