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Shares in Weir Group rallied on Tuesday after the company reconfirmed its full year guidance. The firm's owners have been shares lose a third of their value since February, dropping from around £22 four months ago to £15 now. The news that business was on track pushed them back up 5% on Tuesday morning to 1,515p. In May the engineering giant said order input fell 26% on a like-for-like basis in its oil and gas division, which the firm put down to rapid changes in the pressure pumping market. It said it now expected full year revenues from its SPM and Mesa businesses to be slightly lower than 2011 and below prior guidance. However, Weir added that order input in its minerals division was up 18% compared to the previous year and ahead of its expectations

The market is expecting sales of £3,777m and profit before tax of £43.3m.

On the corporate front Kesa Electricals is set to release full year figures which should see a sharp drop in sales owing to the company's sale of its Comet chain. Even stripping out the effects of the Comet sale, the group has been having a tough time of its with revenue in the first four months of the year down by 4.7% year-on-year in euro terms, or 4.6% in local currency. Online sales are a rare bright spot, but the group is pinning its hopes on the roll-out of its Darty concept and its "strategic cross-channel focus".

Positive Points: Whitbread had already announced plans to open 4,200 Premier Inn rooms, eight joint site restaurants and 350 new Costa stores within this financial year. This will create an additional 3,500 UK jobs. Costa continues to be consistent performer for the group. Costa now comprises four divisions reflecting the increasing breadth and globalisation of the brand, in line with growth aspirations. Furthermore, Costa is Britain's biggest coffee shop brand with almost 1,400 shops and has a further 800 units in 25 overseas markets, including China and India. The company said Costa opened 35 new UK stores in the quarter and 35 new stores in Asia, including 22 in China where it now has 186 stores. With Hotels and Restaurants, 109 rooms and one joint site restaurant were opened in the quarter and for the full year Whitbread plan to open around 4,200 rooms and eight joint site restaurants. The group has previously outlined five-year growth milestones (to 2015/16) to increase the number of Premier Inn UK rooms to at least 65,000, add 80-100 new Restaurants and to nearly double the size of Costa with global system sales of £1.3 billion and 3,500 stores worldwide.

Negative Points: Outlook comments by management were cautious in tone warning that "for the second quarter, Whitbread faced tougher comparatives against a strong result last year, together with the uncertain impact of this summer's major sporting events." Despite a strong trading performance, the group is not immune to a variable challenging consumer environment. Further possible rises in the price of both coffee and food could provide potential cost pressures going forward. A macro or geopolitical shock, could impact on the hotel industry. Competition remains intense across the group's various business arenas.

Financial Highlights: Total sales in the 13 weeks to 31 May were up 13.9% on the corresponding period of 2011. Costa Coffee’s like-for-like increase in sales was 8.4%, with total sales up 25.3%. Like-for-like sales at Premier Inn over the 13 week reporting period rose 4.3%, with total sales up 12.4%. A strong balance sheet was reported by management.

First quarter statement: Whitbread delivered solid growth in its new financial year enhanced by robust performances at Premier Inns and its coffee shop chain, Costa Coffee. The company’s investment programme further built on the success as reported in April’s full year results, with overall sales jumping nearly 14%. At Premier Inn, both sales and revenue per room showed robust appreciation, whilst at Costa the figures were even stronger, helped along by strong international growth. A slight blot on the landscape came in the form of more cautious management comment on the immediate outlook, especially as the next quarter will come up against tough comparatives. In addition, intense competition in the group’s chosen areas and further economic shocks could impact. For now, Whitbread can do little wrong, as evidenced by the reaction to this update. Prior to the numbers the stock had risen 8% over the last three months, during which time the wider FTSE100 lost 8%. Over the last year, the company has also delivered, with the shares adding 21% as compared to a 4% drop for the FTSE.

Whitbread Group PLC is a UK based hospitality company, managing several popular brands in hotels, restaurants and coffee houses, including Premier Inn, Table Table, Brewers Fayre, Taybarns, Beefeater and Costa Coffee. The company's headquarters are based in Dunstable, Bedfordshire. The company was founded as a brewery by Samuel Whitbread and Thomas Shewell in 1799 but, after a long history of brewing, the company decided in 2001 to sell all its breweries and brewing interests to Interbrew. Today the group employs over 40,000 people and serves 10 million customers every month in over 2,000 outlets across the UK. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Positive Points: Same store or like-for-like sales at Argos exceeded analyst forecasts. The increase in the profit margin at Homebase appeared to be at the higher end of analyst forecasts. Internet penetration continues to be highlighted by management. Sales via the online Check & Reserve service grew by 24% and represented 29% of total Argos sales. Total internet sales grew by 17% and represented 41% of total Argos sales. Total multi-channel sales represented 51% of Argos sales, up from 46% a year earlier. Argos is the second largest internet retailer in the UK with over 430 million site visits. As of the full year results, Argos store refurbishment was delivering sales uplifts ahead of plan. The average sales uplift had been 2.5%, ahead of the business case requirement of 1%. A strategic review of the business continues to be awaited. With some Argos store closures expected, management previously highlighted that it had approximately 230 store lease renewals or break clauses due over the next five years. A third consecutive year of market share gains at Homebase was reported as of the full year results. A cut to the dividend payment will help conserve group cash. Vague takeover speculation has circulated.

Negative Points: Same store or like-for-like sales at both Argos and Homebase remain in negative territory. Argos reported a 0.25% fall in its profit margin. Benchmark profit before tax during the last financial year declined by 60% to £102 million. The total dividend for the last financial year was reduced. Competition remains fierce. Supermarkets have over recent years invested in their non-food and online offerings, with Tesco now operating its own catalogue service. Bank of England actions to avert deflation and increase the UK’s competitiveness by lowering the value of the pound have increased the cost of many of the company’s products imported from overseas. Against a backdrop of public spending cuts, rising taxes and below inflation wage rises, consumer sentiment remains fragile.

Financial Highlights: Like-for-like sales at Argos declined by 0.2%, compared to a fall of 8.5% in the prior quarter. Total Argos sales grew by 0.2%. Argos reported a 0.25% fall in its profit margin. Like-for-like sales at Homebase declined by 8.3%. Total sales declined by 8.1%. Homebase reported a 2.25% rise in its profit margin

First quarter update: Sales at Argos significantly exceeded analyst forecasts. Against expectations for a fall of around 4%, a decline of 0.2% pleased, led by laptop and tablet sales. The Argos Check & Reserve service again contributed, with internet sales growing in importance. Furthermore, as expected, Homebase was impacted by the weather, although margins appeared to surprise to the upside, aided partly by management actions. In all and with expectations low, early share price reaction was positive. Management confidence in the Argos store base appears likely to receive something of a boost, with investors potentially happier to await an expected strategic revie

Home Retail Group is major UK retailer, operating two distinct brands - catalogue chain Argos and DIY chain, Homebase. Around 24,000 product lines are offered by Argos, with group own brands including Alba, Bush, Chad Valley, Hygena and Schreiber. Home Retail was demerged from parent company GUS in October 2006.

Chief executive officer Matthew Riley said, "The group has continued to progress its organic growth strategy and seen an improvement in cross-selling, particularly amongst those customers taking three or more products." "Notwithstanding ongoing macroeconomic headwinds, the group remains cautiously optimistic about the year ahead. We also continue to see a strong flow of potential acquisitions and intend to further pursue our successful strategy of consolidating the fragmented reseller market." Daisy said it plans to continue to invest the majority of these cash flows in its ongoing acquisitions strategy. In the event that acquisitions are not completed, the board intends to introduce a maiden dividend following the end of the current financial year.

Acquisitive telecom and hosting services provider Daisy Group said full year losses widened and while it remains mindful of the challenging economic environment, it remains cautiously optimistic about the current financial year. The group, which was started by Lancashire entrepreneur Matthew Riley, said loss after tax widened to £8.9m for the 12 months to 31 March 2012 from a loss of £7.6m a year earlier. Revenue increased to £348.6m from £266.3m before. "As a group, we remain cautiously optimistic about the current financial year, bolstered by a strong balance sheet and solid level of recurring revenue," the group said in a statement. Daisy completed two acquisitions during the year and one post year-end, all of which have been successfully integrated.

"As of 15th June 2012, Teliti was in advanced discussions to sign rental agreements for approximately 20,000 sq ft, or c.44% of the initial 45,000 sq ft of net lettable area. In addition, the company is continuing to progress discussions with its partners for the provision of cloud computing services and expects this offering to be ready for when the Datacentre is opened."

The company said it has currently drawn down RM75.5m of the RM111m debt and is in discussions regarding the release of the remaining funds, which are required to bring the data centre into operation. The board is "confident that the matter will be resolved in the near future". In a statement the firm was keen to emphasise the positives: "Marketing of the Datacentre has continued in Malaysia and through Teliti Datacentres' regional marketing office in Singapore (covering Singapore and Hong Kong), and interest in the facility remains stron

Teliti International's share price plunged on Tuesday after the Malaysian information technology services provider issued a profit warning and another delay in the opening of its data centre. The opening date of the data centre, being built on the outskirts of Kuala Lumpur, had already been pushed back by three months to July, and now, because of delayed payments by the company's debt provider to its contractors, the centre is not expected to be operational until the first quarter of 2013, even though the building itself is set to be completed in July. As a result, Teliti expects profit before tax for the current financial year will be less than half what the market had been expecting. Though it is small consolation, the group will have reduced interest charges resulting from the delay in drawing down on the company's banking facility.

Belton added: "Whilst uncertainty in the world markets remain, the directors are encouraged by the progress the enlarged business is making through enhanced capabilities and the opportunities afforded to us to rebuild supply partnerships, and build on and win new business. We are optimistic that with the opportunities that lie ahead, the group will continue to make good progress both commercially and strategically throughout 2012/13."

"Added to the solid organic performance of TR, the integration of Power Steel and Electro-Plating Works, acquired at the end of last year, continues to progress on plan; as a combined business we have a number of exciting opportunities ahead. Pre-tax profit for the year came in at £4.76m (2011: £2.52m) on revenues of £112.5m, compared to £106.1m the previous year. Basic earnings per share rose from 1.93p to 3.45p year-on-year. Group cash levels rose from £7.1m to £11.8m.