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too much to cut and paste. Read the full RNS via the link. http://www.proactiveinvestors.co.uk/companies/rns/130327pos9495a
Corporate · New subsidiaries incorporated in Singapore and Brunei in anticipation of additional opportunities in the region following the supply of rental equipment for Petronas, and winning of the four year Shell Brunei follow-on contract · Selected to participate in the March 2013 UK Trade & Investment ('UKTI') high level business mission to promote deep water and subsea technologies to the Brazilian Oil and Gas sector and in particular Petrobras · Winner of the 'Best Oil and Gas plc' award at the annual Stock Market Wire Awards 2013 · Bank facilities renewed in September 2012 comprising a £5m credit facility on a three year revolving basis with an additional £1m overdraft on a yearly term · Significant increase in capital investment, R&D, and intellectual property ('IP') · 13% increase in basic earnings per share to 1.65p (2011: 1.46p) · 12.8% increase in interim dividend to 0.44p per share approved for payment on 26 April 2013 to all shareholders appearing on the register of members on the record date 12 April 2013 Plexus' Chief Executive Ben van Bilderbeek said, "I am delighted to report another set of excellent results for the first six months of our financial year with strong year on year performances seen in terms of revenues, margins, and profitability. "We have continued to make substantial progress in organic sales growth, as well as in relation to a number of strategic initiatives targeting future opportunities. Such initiatives include extending our global reach with a particular focus on Asia; as well as progressing our two JIPs - the unique HP/HT Tie-Back wellhead system with Maersk and the important HGSS subsea wellhead development project in partnership with international oil and gas companies. In addition, we continue to engage with a number of regulatory bodies, including the Bureau of Safety and Environmental Enforcement ('BSEE') in Washington, USA, regarding the scope and need for improved wellhead standards, where there is clear evidence that higher performance and testing standards are needed and indeed demanded, and where we believe POS-GRIP friction-grip technology is uniquely able to address such trends. "These exciting developments take place at a time when there are signs of significant industry increases in planned investment and capital expenditure programmes. This can be clearly seen in areas such as the North Sea where recent reports confirmed that capital spending will this year reach its highest level in thirty years, the Arctic where, we believe, POS-GRIP technology can offer specific advantages in terms of being able to connect and disconnect our wellheads without the use of threaded connectors; and Brazil where this month we were invited t
RNS Number : 9495A Plexus Holdings Plc 27 March 2013  Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services 27 March 2013 Plexus Holdings plc ('Plexus' or 'the Group') Interim Results for the six months ended 31st December 2012 Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering announces its interim results for the six months to 31 December 2012. Highlights Financial · 21% increase in sales revenue to £11.3m (2011: £9.3m) · 12% increase in EBITDA to £3.4m (2011: £3.0m) · 18% increase in profit before tax to £1.7m (2011: £1.5m) · 133% increase in capital investment of £3.9m (2011: £1.7m) - of which £3.1m (2011: £0.9m) was wellhead rental inventory · 35% increase in Research and Development ('R&D') to £0.64m (2011: £0.47m) Operating · Strong forward order book for POS-GRIP rental wellhead equipment due to a number of new contracts from both existing and first time international oil and gas operators, particularly for high pressure high temperature ('HP/HT') applications · Evidence of increased activity and investment levels in the North Sea, particularly in the Norwegian sector where new HP/HT customer wins with Lotos Exploration & Production Norge AS ('Lotos'), and Lundin Norway AS ('Lundin'), and additional purchase orders from Talisman Energy Inc. ('Talisman') for both HP/HT and standard pressure wells under an existing contract have been secured · Four year multi-well follow-on contract with Brunei Shell Petroleum Sdn Bhd ('Shell Brunei') for the supply of HP/HT and standard pressure wellhead equipment in Brunei with an initial value of circa £2m · Post period end:- Ø Contract being finalised with new customer Glencore Exploration Cameroon Ltd ('Glencore') for the supply of HP/HT equipment Ø Two year contract extension awarded by Maersk Oil North Sea UK Limited ('Maersk') for the supply of HP/HT equipment, initially for one well with a value of circa £1.5m · Joint Industry Project ('JIP') to develop and commercialise a new and safer POS-GRIP subsea wellhead ('HGSS'™) continues to gain momentum and secures further industry recognition with Total E&P Recherche Developpement SAS ('Total') in December joining existing consulting partners ENI S.p.A, Maersk, Shell International Exploration and Production B.V. ('Shell'), Tullow Oil plc, Wintershall, and Oil States Industries Inc. · Growing number of initiative
Harlow/Nuremberg, 20 March 2013 - Synthomer, one of the world's leading suppliers of emulsion polymers for coatings, construction chemicals, adhesives and technical textiles and DKSH Business Unit Performance Materials, a leading specialty chemicals distributor and provider of Market Expansion Services for performance materials have entered into a regional distribution partnership covering India, the Philippines, Vietnam, Myanmar, Laos, Cambodia and Thailand. The contract was signed today at the European Coatings Show in Nuremberg. It will cover Synthomer's business in the Construction & Coatings and Functional Polymers businesses. DKSH`s Performance Materials Business Unit will distribute and market Synthomer's full range of emulsion polymers in Asia for the market segments coatings, construction, adhesives and textiles with some exclusions for specific countries (1) and will leverage its comprehensive distribution footprint to provide Synthomer with tailored services and exceptional distribution opportunities in this important and growing region. Synthomer offers a particularly broad range of binders based around acrylics, styrene-butadiene and vinyl acetate chemistries for a wide array of applications including weather-resistant wood coatings, low-emission interior wall paints, elastic coatings, crack-bridging facade paints for cool roofing applications and plaster, as well as binders for PSA tapes, labels and technical textiles. Synthomer COO Derick Whyte, who signed the contract on behalf of Synthomer, commented: "We are pleased that DKSH has decided to partner with Synthomer in these important and rapidly expanding Asian markets. We are convinced that the result will deliver improved technical services through local distribution networks to provide our current and future customers with real added value." Mario Preissler, Head of DKSH´s Performance Materials Business Unit and Member of Group Management also describes the new contract as a win-win situation for both partners: "Over the past 150 years we have established a strong customer base in Asia.. The partnership with Synthomer clearly enhances our existing portfolio with one of the broadest and innovative product ranges for emulsion polymers for many applications." (1) The contract will exclude products for coatings and adhesives in Vietnam, for adhesives and technical textiles in Cambodia and Laos and technical textiles products in India.
In the short term this will track CEY. Court date resolution is now June. In the longer term, CAPD interests spread much wider than CEY and the market will acknowledge this once we have closure on the CEY licensing issue. Plenty of upside for the patient. I wouldn't worry too much about your 44p average.
Synthomer Plc. (SYNT.L) announced the preliminary results for the year ended 31 December 2012 reporting that pre-tax profit rose to 62.3 million pounds from 39.5 million pounds in the prior year. Profit attributable to equity holders of the parent was 56.6 million pounds, compared to a loss of 6.9 million pounds in the previous year. On per share basis, profit was 16.4 pence, compared to loss of 2.0 pence last year. Underlying Profit attributable to equity holders of the parent was 74.6 million pounds up from 63.7 million pounds in the prior year. Underlying earnings per share increased to 21.6 pence from 18.4 pence in the prior year. Total sales for the year were 1.11 billion pounds, compared to 1.12 billion pounds in the prior year. The company said it has made a solid start to the year. Hoever, it expects the macro-economic environment in Europe to continue to result in challenging trading conditions through 2013. The company's expectations for the Asian Nitrile market remain unchanged, with improvements expected from the end of this year. With non-nitrile capacity in Asia fully utilised, the company said it will continue to invest in capacity in emerging markets to build its platform for future growth beyond 2013. The company expects demand growth in its emerging markets to remain strong and overall the board remains confident in the Group's long-term prospects and strategy. The company said its board has recommended a final dividend of 3.3 pence per share, making a total dividend for the year of 5.5 pence. The full year dividend of 5.5 pence represents an increase of 57% over the previous year. A final dividend of 3.3 pence per share will be paid on 5 July 2013 to shareholders on the register on 7 June 2013.
one just wont stop giving :)) Now at 326P ...
Synthomer Plc (SYNT) reported annual earnings that beat analysts’ estimates as Chief Executive Officer Adrian Whitfield said he is evaluating additional investments to expand in emerging markets. The company made a solid start to 2013, driven by demand for dispersions used in resins and coatings, Whitfield said in an interview. Synthomer reported an increase in adjusted earnings per share to 22 pence from 18.8 pence. Analysts predicted 21.1 pence. “The situation in Asia is still pretty bullish,” Whitfield said today. Synthomer reiterated that business conditions in Asia for nitrile latex, used in surgical gloves and condoms, have stabilized and an improvement is possible toward year-end. A European construction slump and a jump in capacity and aggressive pricing by Asian nitrile latex competitors have hampered the returns from Synthomer’s $592 million purchase of Polymerlatex in late 2010, its biggest ever acquisition. Shares of Synthomer climbed as much as 1.7 percent before trading 0.6 percent lower at 223.10 pence in London as of 9:56 a.m. local time. Expansion In Europe, the integration of PolymerLatex is a focus to obtain planned cost savings of 25 million pounds ($37 million) this year. Synthomer had to grapple with Asian rivals that increased capacity and dropped prices to take market share. The world’s biggest nitrile-latex supplier responded with it’s own price cuts to stop the “volume drain” and since then business conditions have stabilized in the region. Whitfield said investments will be made in Asia to expand non-nitrile operations as factories are currently fully utilized. Synthomer’s range of products includes polymers used in adhesives and resins. Synthomer has “very specific” plans for expansion in the Middle East and is evaluating some other emerging market projects, Whitfield said in the interview. The company reported net income of 56.6 million pounds, compared with an estimated 44.3 million pounds. Debt declined to 156 million pounds from 164 million pounds. Leverage, at 1.2 times earnings, is at a reasonable level with room for bolt-on purchases, Finance Director David Blackwood said. In terms of the availability of assets, it’s “not a bad scenario at the moment,” with companies assessing what areas they want to focus on and what business are peripheral, Blackwood said.