Member Info for Lucille_Ball

SOLID RETURNS FROM HICL INFRASTRUCTURE The UK government's National Infrastructure Plan has helped focus attention on opportunities for investing in areas such as schools, hospitals and transport, in many cases through public private partnerships (PPP and P3) or private finance initiative (PFI) projects. This has encouraged a number of UK pension funds to jointly launch a pension infrastructure platform, which is expected to get underway by investing £2 billion in infrastructure projects over the next 12 months. Individual investors have been able to gain diversified exposure to the infrastructure sector since March 2006, when HSBC Infrastructure was launched as a Guernsey-based, but London-quoted, offshore investment company. Now known as HICL Infrastructure (HICL), it has proved popular with investors and has been able to greatly expand its issued capital. Spotlight on HICL Infrastructure HICL has achieved a 46% NAV total return over the past five years, in line with 3i Infrastructure and well ahead of IPP. It has raised its dividend every year and expects to pay out 7p in the year to March 2013. The premium on its shares has fallen from a peak of 7.7%, partly because HICL raised £250 million through a heavily oversubscribed C share issue in March. More than half the proceeds of the C share issue have been used to repay £139 million of debt, freeing up HICL's £150 million borrowing facility for future investments. A further £39 million has been used to acquire a stake in the Connect PFI project, which has a concession running until 2019 to upgrade London Underground's radio and telecommunications network. With other new investments in an advanced stage of negotiation, there should be minimal cash drag when the C shares are converted into ordinary shares at the end of April. The company is managed by InfraRed Capital Partners, which bought out HSBC's infrastructure and real estate business. The team of 32 specialists manages three other infrastructure funds with combined assets of around £900 million. HICL's portfolio holds stakes in more than 70 projects in government accommodation, education, health, transport, utilities and law and order. Although it also has stakes in a high-speed rail project for the Dutch state and a highway project in Canada, its overseas exposure is relatively low, but the manager is exploring projects in Australia, Canada and Europe. The InfraRed team has expressed an interest in investing up to a third of HICL's assets in projects that are still in the construction phase or in demand-based concessions. These would add to the portfolio's growth potential but are higher risk than its current focus on operational PPP, PFI and P3 concessions. The management fee is 1 to 1.5% of gross assets, and there is no performance fee. Source: http://www.iii.co.uk/articles/35134/solid-returns-infrastructure-come-cost

HENDERSON SEES £2.4BN JUMP IN ASSETS UNDER MANAGEMENT Henderson Group's assets under management rose by £2.4bn to £66.7bn in the three months to the end of March. The group had positive net flows in European retail and investment trusts of £291m offset by UK and US retail net outflows of £392m. Chief executive Andrew Formica said:: "Although equity markets are higher than at the beginning of the year, continued market volatility and economic uncertainty during the period have kept investor demand for risk assets subdued. "However, I am encouraged that through this period our investment performance has been strong. "Whilst we expect markets to remain volatile, I am confident that our product diversity, investment performance and relentless client focus, position us well for the future." Source: http://www.stockmarketwire.com/article/4361178/Henderson-Group-AUM-increases-by-2-point-4bn.html CEO, ANDREW FORMICA, BUYS A HANDFUL OF SHARES Andrew Formica, Chief Executive Officer, bought 103 shares in the company on the 30th April 2012 at a price of 121.20p. The Director now holds 1,087,393 shares. Source: http://www.stockmarketwire.com/article/4360376/Director-Deals-Henderson-Group-PLC-HGG.html CITIGROUP CUTS Citigroup cuts Henderson Group PLC price target to 125P from 130P; rating neutral. Source: http://www.cnbc.com/id/47274488/BRIEF_RESEARCH_ALERT_Citigroup_cuts_Henderson_Group_price_target

HANSTEEN SUFFERING FROM EURO COLLAPSE Hansteen Holdings, the UK and Europe focused real estate investment trust (REIT), is warning it faces currency headwinds as the debt crisis weakens the euro. In its management statement Hansteen, which buys then rents industrial properties in Germany, Benelux and the UK says: “The euro has weakened further against sterling, as a result there will be an adverse currency effect on reported earnings and net asset value”. Operationally, the company’s “total rent roll” - or regular rental income - had fallen to £76.4m by the end of April versus £79.3m at the end of December. Hansteen says currency movements were responsible for £1.5m of this drop and a decline in sales added a further £1m. Since the beginning of the year the group had sold 10 properties, raising £25m at an average price 4.5% above December 31st valuations. Net debt by April 30th had fallen to £275m from £306.9m in December - it now stands at 36% of the value of Hansteen’s portfolio. The firm says occupational demand in Germany is "robust", and in the UK it is "stable but competitive" but in Benelux "the market continues to be difficult.” At the open in London the stock dropped 1.8% and is now 6.6% down since the beginning of 2012. Source: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20107034

SHOULD YOU BUY SHARES IN GREGGS? If there’s something that most people remember from March’s budget it’s the 'pasty tax' - the government’s plan to charge VAT on freshly baked food (apart from bread). For investors the proposal could be a big problem for one of our favourite food retailers, the bakery chain Greggs (LSE:GRG). There’s no doubt that the 'pasty tax' is a major headache for Greggs. Savouries account for around one third of its total sales. The company has said this morning that the tax could have “a material impact on our sales and profits”. It’s not difficult to see why. Having to increase the price of sausage rolls and pasties by 20% is not good for a business that already has to deal with cash strapped customers. The alternative, absorbing the cost itself, could do a lot of damage to profits. The stock market knows this, and the shares are down sharply. Oriel Securities told its clients to sell the shares, saying they were only worth 400p. Many analysts seem to have taken the view that George Osborne will, in effect, decide whether Greggs’ shares are worth buying or not. Given Greggs is under a cloud of uncertainty, a lot of investors may sit on the sidelines until the dust has cleared. The government’s consultation period ends this Friday (18 May) with the changes due to come into effect this October. It may lead to a buyers' strike on the shares for the next few weeks, with worried sellers sending the shares lower. Some think this uncertainty presents investors with an opportunity. But we’re no longer so sure. Read the full MoneyWeek article here: http://www.moneyweek.com/investment-advice/share-tips/share-tips-should-you-buy-greggs-shares-22000

GREENE KING SERVES UP STRONG FOURTH QUARTER Pub chain owner Greene King said it saw strong trading momentum continue through the final quarter, helped by the launch of new spring menus. It said retail like-for-like sales were up 4.6% in the 50 weeks to 15 April and up 4.5% in the last thirteen weeks. Like-for-like food sales in its Green King Retail business, which includes around 950 pubs, restaurants and hotels that it manages, were up 6.4% in the year to date and 6.7% in the last thirteen weeks. The firm added that core brand own-brewed volumes were up 0.8%. Chief Executive Rooney Anand said that following a record Christmas, the firm achieved very strong like-for-like sales growth on Valentine's Day, Mother's Day and St. Patrick's Day. "On Mother's Day, we sold 220,000 meals, up 16% on the previous year, with wine sales up 18%," he said. "Easter sales this year, despite more mixed weather, were in line with Easter last year." He added that the company's success at big events and its performance in London, where sales were up 6.7%, gave it confidence for the upcoming summer. "We are well placed to benefit from the Diamond Jubilee, Euro 2012 and the Olympics," Anand said. The firm added that its retail expansion strategy was on track with 37 new sites acquired or developed in the year so far, while Hungry Horse, its leading retail brand, had grown to 180 sites across the UK. Source: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20044956

OF THE BUS AND TRAIN OPERATORS GO-AHEAD LIKELY TO BE THE BIGGEST BENEFICIARY OF THE LONDON OLYMPICS Bus and train operators The bus and train operators will also be beneficiaries of the increased demand within London. Those companies with high exposure to London and the South East should see increased revenue trends over the few weeks, which may offset the slightly lower commuter trends over the period as individuals avoid overcrowding. Recent trends within the sub-sector have been positive and despite expecting positive like-for-like sales due to the Olympics, we believe the more important upcoming catalyst is the franchise-bidding season. The UK White Paper dampened expectations that foreign competitors would have the upper hand going forward as it explained that capital expenditure requirements will be similar in the future. We expect Go-Ahead Group (GOG) to be the biggest beneficiary - as London's largest bus and rail operator it will play a significant role in providing transport services for the Olympic Games. In particular its high-speed 'Javelin' rail services will transport spectators in seven minutes from St Pancras International to the Olympic Park. Source: http://www.iii.co.uk/articles/35123/dont-hold-your-breath-olympic-dividends P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089

GO-AHEAD ON RIGHT ROAD TO MEET EXPECTATIONS Bus and trains operator Go-Ahead Group reported a solid first quarter, with growth seen in both parts of the business, leaving it on track to meet full year expectations. Outside London, the company's year-to-date revenue, excluding acquisitions, increased by around 4%, with passenger numbers up by around 3%, although a recent weaker concessionary performance offset stronger growth in fare-paying passengers. In London, year-to-date revenue and mileage rose by over 4% and 2%, respectively. In the rail division, Southern achieved growth in passenger revenue of around 9% as passenger journeys rose by more than 2% year-on-year. In the Southeastern division, passenger revenue was up over 10% and passenger journeys increased by almost 2%. London Midland saw strong passenger revenue growth of over 13% with passenger numbers up around 8%. In a statement the company said: "Overall, trading in the third quarter has been solid and, whilst we continue to be cautious about the wider economic outlook, we remain confident that we will deliver a full year result in line with our expectations. Due to recent acquisitions in the group's bus division, year end net debt is expected to be higher than previously anticipated at around £95m. The group seemed sanguine about the debt position, emphasising that it remains in a good financial position with strong cash generation, enabling it to continue churning out the divis while looking for suitable acquisitions. Source: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20054694

BUY RATING: Killik initiates buy on GKN Source: http://www.stockmarketwire.com/article/4369423/FLASH-Killik-initiates-buy-on-GKN.html OUT PERFORM CONSENSUS: The Financial Times indicates that "as of May 11, 2012, the consensus forecast amongst 14 polled investment analysts covering GKN plc advises that the company will outperform the market. This has been the consensus forecast since the sentiment of investment analysts improved on Apr 12, 2012. The previous consensus forecast advised investors to hold their position in GKN plc." Source: http://markets.ft.com/Research/Markets/Tearsheets/Forecasts?s=GKN:LSE P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089

GKN WILL BE BUSY PRODUCING AIRCRAFT STRUCTURES FOR THE JOINT STRIKE FIGHTER FOR MONTHS TO COME GKN Aerospace of Britain says it has started production of precision-machined titanium structures for BAE Systems, a principal subcontractor to Lockheed Martin, for the F-35 Lightning II Joint Strike Fighter. The F-35, touted as the most advanced next-generation combat aircraft, is multinational funded and will come in several variants, including a vertical takeoff and landing one. GKN Aerospace said it will be produce 10 titanium structures for the aft and tail sections of the aircraft. "The ability to machine highly complex titanium parts such as these for the JSF is a core competency for GKN Aerospace globally and one which our team at Filton (a plant in the United Kingdom) have employed on commercial airframes for a number of years," said Phil Swash, chief executive officer and president of GKN Aerospace-Aerostructures. "This work package sees their expertise now being applied to military aircraft, extending the skills base at the site in a direction that is at the very heart of our long-term aero-structures strategy." Details on the parts to be produced were not disclosed. GKN Aerospace acquired the Filton facility, located in South Gloucestershire, nearly four years ago and spent more than $27 million on its modernization, which includes precision manufacturing equipment. The company estimates its involvement in the F-35 program generates about $2.5 million in revenue per aircraft. In addition to titanium structures for the plane, GKN facilities also design and supply all-composite engine front fan case and embedded electro-thermal ice protection systems, among others. Source: http://www.upi.com/Business_News/Security-Industry/2012/05/10/GKN-Alenia-get-production-work/UPI-80581336679703/

GKN SEES GROWTH ACROSS ALL SEGMENTS IN Q1 GKN has recorded a 17% increase in its first quarter (Q1) sales to to £1742 million, bringing pre-tax profit to £125m, also up 17%, as the company benefits from improved market conditions and strong performance from its 2011 acquisitions. Nigel Stein, CEO, says: “GKN has made an excellent start to the year with sales up 17% and margin improvement in all four divisions. Last year's acquisitions, Gertrag Driveline Products and Stromag, have been successfully integrated an both made a strong contribution. “Despite some macro-economic uncertainty, we expect 2012 to be a year of goo progress for GKN based on our market leadership positions, advanced technology and extensive global foot-print.” GKN was partially lifted by the 4% growth in global light vehicle production during the quarter to 20.4m vehicles Japanese automotive production grew 49%, North American 15% and Indian 5%. This more than offset the 10% decline in Brazil, 8% in Europe and 4% decline in China. POWDER METALLURGY UP 9% GKN's Powder Metallurgy division saw a 9% increase in sales to £236m, driven by the growth in the North American automotive production and new programmes in the division. SALES BY SEGMENT Driveline: £847m, +26% Aerospace: £370m, +5% Land Systems: £264m, +20% Powder Metallurgy: £236m, +9% Source: http://www.metal-powder.net/view/25250/gkn-sees-growth-across-all-segments-in-q1/

GKN DRIVELINE IN CHINA - GROWTH ON TRACK Employing 250 workers, the new 13,900 square-meter plant in Changchun will have the capacity to build one million sideshafts a year and a new 10,000-square-meter, phase-two expansion of the plant will increase its capacity to four million sideshafts within the next five years. This follows the opening in 2009, of a new plant in Wuhan that produces sideshafts for automakers in central China. The 25,000 square-meter plant is expected to produce two million sideshafts by the end of the year. GKN Driveline continues to regard China as a key growth market for the company, forecasting vehicle production in China to reach 15 million units by 2014. The company's production capacity for CVJ (constant velocity joint) systems and AWD (all-wheel-drive) systems in China is expected to grow by 50 percent in the next three years. "China is a key market for our overall growth strategy," said Marc Vuarchex, managing director, GKN Driveline Asia Pacific. "With our CVJ and AWD systems production along with our industry-leading electric-vehicle technology and plans to produce new, low-cost systems for China's small-car market, we will increase our number of employees by over 30% in China over the next four years." Additional investment will be made over the next three years in Shanghai as well. The company is investing 94 million RMB to expand its research and development center in Shanghai which will lead to the development of prototyping facilities, as well as materials and metrology capability to allow products to be developed for the domestic Chinese market. Here is a link to the full article: http://www.supplychaindigital.com/press_releases/gkn-driveline-in-china-growth-on-track Here is a video presentation of GKN in China: http://www.gknchina.com/

THE TELEGRAPH'S BUSINESS BULLET 10:12AM BST 18 Apr 2012 Business Bullet on risk-averse markets, Tesco's £1bn re-vamp, GKN's profit growth and the madness of EU bankers Use the slider to get to the GKN story, 1.50 min into the video: http://www.telegraph.co.uk/finance/financevideo/businessbullet/9211010/Business-Bullet-on-risk-averse-markets-Tescos-1bn-re-vamp-GKNs-profit-growth-and-the-madness-of-EU-bankers.html

MORGAN STANLEY SAYS... Overweight. Our bull case valuation - at 1,790p - assumes that Genus meets its aspirational earnings growth target of 15 per cent year on year throughout the decade. But there are strong global themes to drive that thesis. These include population growth and rising food demand, industrialised farming methods and sector consolidation among food producers, as well as emerging markets growth, coupled with a shift there towards western-style diets - that is, more dairy and meat consumption. Expect EPS to rise to 52p for the year to end-June 2012, from 44.1p in 2011. PEEL HUNT SAYS... Buy. The share price rating does look full, but the longer-term growth opportunity remains compelling. Genus is the global market leader in this business and is increasing its competitive advantage. In fact, the company boasts a number of strategic advantages, such as its genetic lead and international presence. Moreover, research and development initiatives provide the opportunity for step-changes in market share and profitability. Genus looks increasingly well positioned to take advantage of growth opportunities. The price target stands at 1,500p and expect adjusted EPS for end-June 2012 of 50.8p. Read the full article here: http://www.investorschronicle.co.uk/2012/05/04/tips-and-ideas/share-tips/brokers-tips/genus-trots-ahead-Q36sj210pjtXIW4byMPEGO/article.html P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089

GENUS AIMS TO PIG OUT IN CHINA In the porcine market in China, Genus is already in discussions with a number of leading integrated pig producers looking to improve the quality of their genetics and expand their production. These discussions envisage the creation of joint ventures with these producers who will use a significant proportion of the breeding animals produced by the joint venture to build their own pig production system. Genus has concluded that this type of structure will enable the group to provide its genetics in a manner that protects its intellectual property and enables the introduction of a royalty model that Genus already operates in its porcine business across other geographies. Read the full story here: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20072621

Genus Provides Interim Management Statement, Strategy Update Genus Plc (GNS.L) issues its interim management statement for the period from 1 January 2012 and also an update on the Group's strategy that has the objective of establishing the framework to enable an improving rate of growth from 2014 onwards. During the period since 1 January 2012, Genus has continued to trade in line with the board's view and ahead of the prior year. Overall demand for Genus' products and services has continued broadly in line with that experienced in the first half of the current financial year. In North America, the porcine business has sustained its positive momentum with volumes up by 10% leading to a similar rise in royalty income. Improved average selling prices and tight cost control have enabled bovine profits to progress despite volumes at broadly the same level as last year. Source: http://www.rttnews.com/1875299/genus-provides-interim-management-statement-strategy-update-quick-facts.aspx?type=qf&utm_source=google&utm_campaign=sitemap

GALLIFORD TRY WINS DUAL CARRIAGEWAY CONTRACT House-building and construction group Galliford Try has been awarded a contract to construct the A380 South Devon Link Road for Devon County Council and Torbay Council. The £80m deal will see the company design and build a 5km duel carriageway between Newton Abbot and Torquay, bypassing the village of Kingskerswell, beginning this month and completed by the end of 2015. Greg Fitzgerald, Chief Executive of Galliford Try, said: "We are delighted to be awarded this major and prestigious contract which will result in significant economic and environmental benefits and also improve safety. "The link road is a great opportunity for us to further strengthen our presence in the south-west, a region where we are well established as a housebuilder." Source: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20104140 More information: http://www.bbc.co.uk/news/uk-england-devon-18099981

GALLIFORD TRY ON TRACK FOR YEAR Galliford Try said its housebuilding division continues to perform well with strong sales in the year to date, helped by its focus on the south of England although headwinds continue in construction. The group reported strong housebuilding sales in the period from 1 January to 8 May 2012 with 97% of sales for the financial year secured. Nearly £775m of sales have been reserved, contracted or completed, of which £625m is for the current financial year to 30 June 2012. It expects to meet company expectations for the financial year. It added land availability remains good with the landbank standing at 10,600 of which 78% is secured at current market values, up from 67% in 2011. The company said 100% of plots have been secured for 2013 and 80% of plots are in hand for 2014. The group, which recently won a £36m contract for Anglian Water, said its construction order book has remained stable at £1.6bn and 80% of next year's revenue secured, up from 72% in 2011. "Although construction markets remain difficult we have won a number of important contracts in our chosen markets. The group is confident of delivering its housebuilding expansion plan as set out three years ago and we remain on track to meet our expectations for the financial year," Galliford said in a company statement. Looking ahead Galliford noted, "The strong financial performance in the period means the group is expected to be cash positive at financial year end. Our disciplined growth plans and focus on margin improvement should continue to create shareholder value and support our progressive dividend policy." Source: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20084115 P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089

Galliford Try plc : Galliford Try Joint Venture Secures £36 Million Water Project Galliford Try, the housebuilding and construction group, announces that it has, in joint venture with Imtech Process, been awarded a contract worth a total of £36m from Anglian Water. Under the contract Galliford Try and Imtech will construct a new water treatment works in Lincolnshire. Situated on a greenfield site near Newton-on-Trent in Lincolnshire, the new works will use an innovative combination of processes that will enable water from the River Trent to be treated at a downstream location for the first time. The scheme includes a large raw water reservoir and over 12km of pipelines. Greg Fitzgerald, Chief Executive of Galliford Try, commented: "We are delighted to secure this additional business from an existing framework client. It builds on our track record in delivering water infrastructure projects. Galliford Try is one of the UK's leading infrastructure contractors to the water industry, working under five-year asset management programmes as well as on bespoke projects for seven of the country's major water utility businesses. Source: http://www.4-traders.com/GALLIFORD-TRY-PLC-4001959/news/Galliford-Try-plc-Galliford-Try-Joint-Venture-Secures-%A336-Million-Water-Project-14318063/

Edward Legget: "The UK Stocks I'm Buying Now." Some of the stocks Legget has been looking to for this are housebuilders, even though with house prices falling and the UK economy under threat, the choice might seem like a strange one. However, Legget says he’s looking to companies in subdued markets, which can benefit from a turn in sentiment. 'New-build housing volumes are down 40-50% from peak, but the number of participants building houses is also down significantly as small housebuilders struggle for financing. So the remaining ones are actually seeing a fairly sharp recovery in profits. To that end we own Galliford Try (GFRD.L), which has been a fantastic performer over the last 18 to 24 months. They’ve bought a lot of land in London and the South East post the crisis and have been building and generating very strong returns. Source: http://citywire.co.uk/money/edward-legget-the-uk-stocks-im-buying-now/a586967

Interview with Chief Executive on half year statement, February 2012 http://www.youtube.com/watch?v=QGm6cJ7aZ_U