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The group said that the strength in Mail growth reflects the impact of the Royal Mail price rise on May 6th 2011 which increased prices by 15% on an annualised basis.

Parcel delivery and logistics services group UK Mail saw sales and profits broadly match consensus estimates in the year ended March 31st and said that trading in the current year has begun in line with its expectations. Reported group revenue grew 8.4% from £395.8m to £429m during the period, helped by strong growth in Mail, up 14.5%. Parcel revenues grew 3.2%. The market consensus was looking for a figure of £425.2m.

The final dividend has been doubled to 2p, taking the full year dividend up to 3p from 1p the year before, and well ahead of the 2.5p expected by the market.

"Both divisions performed well with the Foundries division increasing EBIT [earnings before interest and tax] by 55% and the Engineering division by 50% with both delivering material margin enhancement," notes finnCap analyst Mark Paddon. A re-rating is overdue, in Paddon's view, with the group sitting on a 30% discount to its closest quoted peer, Castings, on both a price/earnngs ratio basis and also an enterprise value/EBITDa (EBIT plus depreciation and amortisation) basis.

"Chamberlin's Walsall foundry produces small castings with complex geometries and a key market for the business is bearing housings for turbochargers. This market is expected to grow very strongly as manufacturers increasingly use pressure charging in downsized engines to meet CO2 targets. Furthermore, business continues to grow with recently won IHI as the full product family is brought on stream. New turbocharger products are being worked on and management are targeting other established OEMs [original equipment manufacturers] and new entrants to gain further market share," said Charles Stanley analyst Richard Hickinbotham. finnCap also rates the shares a "buy", after figures came in ahead of its forecasts.

Broker Northland Capital Partners described the results as "strong" and notes that the shares trade on eight times projected fiscal 2013 earnings (prior to any adjustments in the light of the release of the fiscal 2012 results). House broker Charles Stanley says the shares are still too cheap, with the company well placed for growth.

"This approach has delivered a strong foundation on which to build and our strategy for the future will focus on growing both top and bottom line by offering top class technology which is valued by our customers," said Chairman Keith Butler-Wheelhouse. "We anticipate that growth will be achieved both organically and by acquisition and we will continue to explore opportunities which would be a logical extension to the group," he added.

As profits doubled, net debt almost halved to £1.6m at the end of March from £2.9m the year before. The group saw growth across all of its foundries, and that trend is expected to continue. Around 70% of sales are now for overseas markets and the group's tighter focus on the more technically complex end of the market is clearly boosting Britain's reputation for engineering excellence.

Engineering firm Chamberlin said revenue and earnings are now at higher levels than they were before the recession bit in the last decade. Exports drove revenue growth, with turnover up 14% to £45.5m in the year to March 31st from £39.8m the year before. That was a shade below the £46m expected by the market, but underlying profit before tax, at £1.7m, was ahead of expectations of £1.6m, and more than double the £0.8m achieved the year before.

Profits at network monitoring and analysis firm Endace fell in the year to the end of March after UK Government budget cuts hit the firm. Profits for the year came in at $2.19m down from $2.43m the year before on revenues that were up to $41.15m from $38,37m in 2011. In mid-April, the group had indicated full year figures would be profits of $41,1n on revenue of $41.1m. House broker Panmure Gordon said the numbers were a shade better than expected. The firm said economic uncertainty resulted in slower purchase decisions by some clients towards the end of the traditionally-stronger second half. The Chief Executive added he was "cognisant" of macro-economic uncertainty. Panmure Gordon reacted to the results by switching its rating from "hold" to "buy", saying the company appeared to "have got its mojo back." Panmure Gordon's target price is 548p.

Luxury goods group Burberry (BRBY) remains something of a recession defying phenomenon, especially in the Far East, and as such this best of British brand has become something of a barometer for the health of China, the world’s second largest economy. The bull case received a boost in March as reports came from China that it would reduce taxes on luxury imported goods, something that caused the share price of Burberry to spike. However, there are still fears that the group’s valuation at £14 plus a share and on 23 times earnings is rather rich in the current climate. Much will depend on the forthcoming outlook from Burberry, although it is likely the retailer will find it tough to project continued outperformance for the rest of 2012.

In some ways it was curious that SABMiller (SAB) decided to go for a multibillion purchase of Australia’s Fosters brand when the driver of growth in the past year has clearly been of the emerging markets variety, especially in Latin America. It will be interesting to see whether what looks like something of a trophy purchase can pay off near term? Observers will also be looking to see whether the Q4 metrics have been beaten by organic growth. Lager volumes were 3% ahead of the previous year for both the quarter and the year, with soft drinks volumes 7% higher year on year, and 12% up in the final quarter.

Trade Summary Dream Scenario: The Americas and China growth adds to the obvious Diamond Jubilee and London Olympics attractions ensuring a strong summer for Intercontinental Hotels.

Nightmare Scenario: The recent May peak above 1,500p for the shares already prices in the positive fundamentals at the hotels group.

Key Technicals Shares in Intercontinental Group have maintained persistent support at and above their 50-day moving average now at 1,459p, following a brief early bear trap below 1,400p. The likelihood now is that while support remains above the 50 day line, the shares should go on to retest the intraday high of the year to date at 1,544p.

Those looking for a stock to benefit from the Diamond Jubilee and London Olympics will no doubt already be looking at Intercontinental Hotels Group. But as reported in the recent Q1 results, IHG has much more to offer, with the impressive growth in the Americas and China looking more and more appealing to risk-averse blue chip stock buyers in the current climate. Shares are rated a buy at Galvan Research.

Latest Fundamentals On May 9th, hotels group Intercontinental Hotels Group (IHG) reported solid revenue per available room, RevPAR, growth in the first quarter of 2012, helped by an increase in rates and occupancy, as well as strong performances in the Americas and China. The Crowne Plaza and Holiday Inn owner, which has 4,500 hotels in its portfolio, said that total revenue rose 3% from $396m to $409m in the three months to March 31st, up 4% at constant exchange rates (CERs). Meanwhile, Group RevPAR grew by 7.0%, driven by strong growth in the Americas (up 7.7%) and Greater China (11.9%). Increases in Europe and Asia, Middle East and Africa (AMEA) were more subdued (up 2.6% and 6.9%, respectively).

im off to work now...keep an eye on things lol.........

Positive Points: At the end of March, Antofagasta's cash and cash equivalents position rose 8.2% on quarter to $3.29 billion. Antofagasta benefited from a 26% year on year rise in copper production, largely driven by the ramp up of its Esperanza gold and copper mine. Antofagasta is one of the most important conglomerates in Chile with equity participation in Antofagasta Minerals, the railroad from Antofagasta to Bolivia, and other investments worldwide. The miner maintains a good safety record. Antofagasta Minerals is also active in mineral exploration in Chile and Peru. In addition, the group runs an extensive railway network in north of Chile, centered in the port of Antofagasta.

Negative Points: The group encountered a 12.9% decrease in copper production compared with the final quarter of 2011, mainly due to planned maintenance and expected lower grades at Los Pelambres and lower throughput at Esperanza in February and March. The group has exposure to volatile copper prices. With approximately 80% of group sales related to copper, any change in copper prices has a significant impact on the performance of the miner. The company's share price could suffer if global demand for commodities slows. Chile lies along a major earthquake fault line.