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First quarter update: Kazakhstan-focused diversified natural resources company Eurasian announced earlier today that revenue in the first three months of 2012 decreased significantly compared to the same period in 2011, principally driven by the decline in prices for its main commodities. The first quarter of 2011 was ENRC's strongest-ever quarter in terms of revenue generation, highlighted management.

The group is a diversified natural resources company, with integrated mining, processing, energy, logistical and marketing operations. ENRC is currently organised into six divisions: 1) Ferroalloys 2) Iron Ore 3) Alumina and Aluminium 4) Energy 5) Other Non-Ferrous resources 6) Logistics - all supported by a Sales and Marketing operation. The company operates in Kazakhstan, China, Russia, Brazil and Africa (the Democratic Republic of Congo, Zambia, Mozambique and South Africa). It employs over 72,000 people, of which 65,000 are located in Kazakhstan.

Positive points, cont The acquisition of BMI will potentially allow the airline to expand its operations at its home base of Heathrow. BMI currently enjoys 9% of the take-off and landing slots at Heathrow. A new route to Seoul Korea is now planned. Growing disposable income in the emerging markets could underwrite a broader increase in tourism and travel. With Spanish roots, Iberia is currently a strong player in Latin America. Adjusted gearing as of 31st March 2012 improved by 1% to 43%

Positive Points: Group revenue for the quarter rose by 7.8% to €3.92 billion. Passenger unit revenue for the quarter increased by 8.5% (7.3% on a constant currency basis), on top of capacity increases of 0.6%. The board highlighted that demand in London remained strong, with a continuation of the encouraging trends seen in H2 2011 for its long-haul premium cabins, particularly on North Atlantic routes enjoyed. As of the full year results, cost savings from the merger of BA and Iberia were running ahead of management targets. Furthermore, management hoped that the merger would allow it to catch Lufthansa Franco-Dutch airline Air France-KLM, which have reaped merger and acquisition synergies

Negative points,cont BA and rivals have been critical of Air Passenger Duty (APD) taxes, claiming that it puts aviation's social and economic benefits at risk. In 2011 British Airways paid almost £500 million in APD. As a result of the latest increase, the airline is reducing by around half the number of new jobs it's creating this year and has postponed plans to bring an extra Boeing 747 back into service. With a strong focus remaining on group costs, management have come into conflict with staff. Group cash of €3.574 billion was reported at the quarter end, down €161 million. The London Olympics may provide a short term drag. While the Olympics will be positive for the long-term position of London as a global destination, past experience in other host cities suggests that demand could be dampened during the games.

Negative Points: A loss before tax for the quarter of €263 million (2011: €47 million loss) was reported – at the high end of analyst forecasts. Fuel costs for the quarter increased by 24.9% to €1.4 billion, driven by higher prices, the reduced impact of hedging and emissions charges. Difficulties for Iberia's home Spanish economy continued to be highlighted. A worsening commercial performance for its Madrid hub was highlighted. The airline industry remains extremely competitive and unpredictable. Low cost airlines are competing heavily - easyJet is now courting business passengers. The air travel business remains extremely cyclical. Business travellers form an important profit driver for the former BA business.

Financial Highlights: A loss before tax for the quarter of €263 million (2011: €47 million loss) was reported. Fuel costs for the quarter increased by 24.9% Group revenue for the quarter rose by 7.8% to €3.92 billion. Adjusted gearing as of 31st March 2012 improved by 1% to 43%.

First quarter results: As previously flagged, rising fuel costs impacted profitability. A quest to modernise working practices at Iberia and a subsequent strike also raised costs, whilst the still highly troubled Spanish economy took its toll. Furthermore, rising passenger taxes in both the UK and Spain provided what management appeared to regard as additional and unwarranted hurdles. Positively, passenger revenues again grew, with the group's exposure to transatlantic routes playing its part, whilst the acquisition of BMI has begun to open up opportunities - a new Heathrow route to Seoul is now planned. In all, the risks for investors are high. Hurdles remain numerous, headed by volatile fuel costs. However, for IAG specifically, further merger cost savings offer incentive, whilst a potential extension into emerging market arenas thanks to both Iberia and BMI offers longer term optimism.

International Consolidated Airlines Group S.A (IAG) is a major international airline company formed via the merger of the former British Airways and Spain's Iberia airline.

Positive Points: The strength of recent contract awards and progress on operational efficiencies reinforce a strong second half and confidence in achieving full-year expectations, stated the group. In February Serco said it had identified £30 billion of opportunities across the group, with over a quarter coming from its AMEAA region where the firm is targeting expansion. Since the beginning of the financial year, Serco has been awarded £3.9 billion of contracts, comprising signed contracts valued at £2.9 billion and preferred bidder appointments valued at £1.0 billion. The group reiterated that revenue growth, margin progression and free cash generation will be weighted towards the second half of the year. The company's geographical footprint continues to be expanded. Serco continues to pursue a progressive dividend policy. The total dividend payment for 2011 grew by 14.3%.

Negative Points: Whilst its UK market is showing signs of improvement, government austerity measures continue to pose a threat. With the majority of Serco's revenues exposed to the public sector, the company carries a degree of political risk. The group's US market may be further impacted by the deadlock on budget negotiations. Serco operates in a highly competitive market. Any future acquisition carries a degree of over payment or integration risk.

Financial Highlights: Serco reported a strong financial position with no material events undertaken since 31 December 2011

Interim Statement: Ahead of its Annual General Meeting today, Serco Group said it is on track to meet its 2012 full year expectations, with 3.9 billion pounds of contract awards since the beginning of the financial year. In the UK, the company has won a number of large contracts that included training services for the Royal Air Force and Navy, and back office and community health services in the NHS. Serco's order book was £17.9 billion at 31st December 2011 and the pipeline of identified opportunities around the world had a total estimated value of some £30 billion. However, the group warned that revenues in the US will be "significantly lower" than last year as budgetary challenges continue to disrupt the industry. "Conditions for the US federal market and hence our Americas division currently remain very tough, but for the year as a whole we anticipate that further strong growth in Africa, the Middle East, Asia and Australia (AMEAA), the improving UK outlook, and the delivery of cost efficiencies will see us meet expectations," added management

Serco was founded in 1929 as a United Kingdom division of the Radio Corporation of America and initially provided services to the cinema industry. It changed its name to Serco in 1987 and has been a London Stock Exchange listed company since 1988. Today, Serco has grown to become one of the world's leading service and outsourcing companies. The group operates in Europe, the Middle East, Asia Pacific and North America. High profile contracts include London's cycle hire scheme and the Dubai metro.

Lo-Q said its new technology, which allows water park visitors to skip the queues for rides, had been rolled out successfully at its first two locations in the USA. "Both roll-outs of the company's Q-band product have attracted encouraging early user numbers - and positive user feedback - over their first weekend of operation," the firm said. Visitors who rent the waterproof wristband use it to reserve a place in line at a park's most popular slides, using kiosks located throughout the venue. When their reservation time arrives, guests enter via a separate entrance and scan their band to be validated.

Indian-language film distributor Eros, which is set to leave AIM, said that because of its proposed NYSE listing it would not be issuing guidance regarding its financial performance for the fiscal year ended March 31, 2012. The firm said its full-year audited results to March 31st 2012 would be in a prospectus to be filed with the US Securities and Exchange Commission ahead of its proposed NYSE listing. The company's shares dropped almost 9% following the news.

The deal will see C21 supply forward facing CCTV cameras for deployment in the 182 drivers cabs in XC's fleet of trains operating on the CrossCountry network. Investors, no doubt frustrated commuters themselves, welcomed the news, pushing up the firm's share price 4% in early trading on Monday.

People stealing wiring from train lines had better watch out after CCTV firm 21st Century Technology (C21) said it had been awarded a contract potentially worth in more than £1m by XC Trains. The latter operates Arriva UK's CrossCountry franchise, which covers around 1,500 miles and calls at over 100 stations.

"Secondly, it is close to concluding negotiations concerning an assignment of the rig contract which would allow for a break in the drilling programme, but ensure that Gorilla III was available to complete Bayfield's commitments in 2013. Thirdly, it is reviewing, with its advisers, alternatives for raising additional finance in the near-term."

In a statement the company said: "Bayfield has taken steps to provide greater operational and financial flexibility concerning the timing of fulfilment of its committed seven-well drilling programme. Firstly, it has agreed amendments to the Galeota licence and farm-out agreement with Petrotrin, to extend the period in which it was obligated to drill the seven wells out to the end of March 2015.