Member Info for mulledwine

Outlook As disclosed at the Interim Results last December, the Board fully expects the difficult economic environment and current challenging trading conditions to continue for some time yet. However, the future growth prospects across both the Group's divisions are encouraging and the Board continues to view the medium term future with considerable confidence. Despite the reduction in H2 profits, the Board anticipates maintaining its progressive dividend policy given the Group's continuing positive cash generation from its core business.

http://www.investegate.co.uk/Article.aspx?id=201103040700083194C

Warning from Brulines Date: Friday 04 Mar 2011 LONDON (ShareCast) - Trading at beer pump specialist Brulines has gone flat recently and the second half will come in short of previous expectations. “Despite good progress with i-draught, Vianet and the Fuel Solutions division, the Group's trading for H2 is likely to be lower than anticipated resulting in the full year profits expected to be around £4.0m”, the firm said. Brulines blamed economic conditions and commercial pressures affecting some core leisure customers, resulting in pub sell-offs, and the severe weather conditions in December 2010 and January 2011. “The board anticipates maintaining its progressive dividend policy given the group's continuing positive cash generation from its core business,” the statement added.

Rising markets lift Charlemagne Date: Friday 04 Mar 2011 LONDON (ShareCast) - A good second half investment performance offset a small funds outflow last year at emerging markets fund manager Charlemagne. Assets under management at the end of 2010 were $3.48bn, up 14.1% over the prior year (2009: US$3.05bn) with net redemptions of $64m across all segments. "The second half of the year has seen net inflows into the Magna mutual fund range, almost making up for earlier net redemptions," Charlemagne said. At end of February this year, managed funds totalled $3.37bn. Profits in 2010 rose to $10.4m from $6.9m, including a sharp rise in one-off performance fees to $3.8m. Management fees rose by 19% to $22m. “The fundamental case for emerging markets is still compelling and we believe that the Company is well positioned to benefit from strong investor flows,” chief executive Jayne Sutcliffe said.

Charter snaps up Russian electrode firm Date: Friday 04 Mar 2011 LONDON (ShareCast) - Charter International’s welding, cutting and automation business ESAB has bought Russian electrode maker Sychevsky Electrodny Zavod. Sychevsky, which employs around 300 people, posted revenue of £9m in 2010, gross assets of£5.3m and net assets of £4.6m. Its premium electrodes for use in the oil & gas, energy and bridge building sectors are sold through a network of distributors. "This acquisition is in line with our strategy of growing our business in emerging markets with around half of ESAB revenues now coming from emerging markets,” chief executive Michael Foster said. “Russia provides one of the major growth opportunities in the worldwide welding market over the coming years and we believe that Sychevsky, as one of the leading electrode manufacturers in Russia, will be a key contributor to ESAB's continued growth in the region and its longer term strategic growth plans."

Ranjit Singh Boparan has moved a step closer to securing control of Northern Foods (NFDS) after winning support from shareholders to gain control of more than a third of the convenience foods company. The Birmingham-based poultry processing entrepreneur, who is Tesco's leading supplier of chicken meat, confirmed that he had secured the support of 26% of shareholders for his 342 million pounds, 73p-a-share cash offer for Northern Foods

Shore Capital retained its "buy" recommendation for Partygaming (PRTY). Despite short-term concerns over regulating markets, the broker believes the likely short-term impact from taxation and customer building is more than outweighed by the potential for medium/long-term growth. Furthermore, with Italian licensing of cash poker and casino games expected in May 2011, Shore believes the potential growth from this market could be significant.

Panmure Gordon maintained its "hold" rating for Communisis (CMS), the print management services provider, with a decreased target price of 31p, down from 32p. Although the background environment remains uncertain with regard to overall spending levels on marketing, the broker thinks the ability of the group to offer more targeted products to reach customers should leave it relatively well placed. Moreover, with a number of significant contracts in place, Panmure believes Communisis is "well established in a changing market."

Singer Capital Markets issued a "fair value" rating for Spirent Communications (SPT), the communications technology company, with a 165p target price. Despite the group announcing significantly improved full-year results on a year earlier, the broker notes that they were fractionally short of consensus figures. Nevertheless, whilst acknowledging that expectations might be a little high, Singer said it was confident of "substantial" growth in 2011 and future years.

HafeezShap--- it was quite a turnaround though from a loss last year to a very decent profit and an increase in the divi

Evolution Securities issued a "buy" rating for Cape (CIU), the energy services group, with a 500p target price. Commenting after full-year results were published yesterday, the broker said the combination of compelling valuation and a growth outlook from the second half of 2011 through to 2015 is rare in the oil service space at this stage in the cycle. Whilst margin progression from here may be muted, Evolution thinks top-line growth should accelerate, allowing the company to approach its goal of doubling earnings per share to 80p by 2015

WPP enjoys 'significant' recovery in 2010 Date: Friday 04 Mar 2011 LONDON (ShareCast) - Advertising giant WPP made over £1bn for the first time ever in 2010, but violence in the Middle East, which accounts for 1.7% of revenue, is a worry. Headline profit before tax increased 27.3% to £1.03bn on revenue up 7%, or 5.6% at constant currency, to £9.33bn, while like for like sales grew 5.3%. Billings rose 1% to £42.68bn. And business grew at its fastest rate in 10 years during the fourth quarter. Like for like revenue was up 8.5% and December registered the first monthly double-digit growth rate since January 2001. Chiefs predict like for like revenue for 2011 will be similar to last year at around 5%, more than the 3-4% predicted by analysts, though the balance of growth is seen shifting from the west to the east to China and India, south to Brazil and Latin America and south-east to Africa. But unrest and revolution in Tunisia, Egypt, Bahrain and Libya could have implications for other countries such as Jordan or Saudi Arabia. The Middle East is worth $300m of revenue. A second interim dividend, up 15% to 11.82p per share, makes a total for the year of 17.79p, also up 15%.

Regarding the current reserve reports, Managing Director, Stephen Voss commented: "Higher transport fees and tariffs slightly reduced our cash margins and net present values of our Colombian reserves and such costs trends are expected to continue as the country of Colombia attracts increasing amounts of oil investment resulting in further production growth. However, for the first time the Company is reporting this year reserves of natural gas liquids based upon recovered condensates in our Bolivar block. The Company is very excited about the potential for possibly higher margin natural gas liquids and condensate production from various zones in the contract area including its Simiti shale gas resource. As our farmout process designed to accelerate the development of all of our various fields continues to progress, including Peru Block 95 where drilling is expected to commence later this year, the Bolivar block will be an early priority."

http://www.investegate.co.uk/Article.aspx?id=201103040700093217C

Not bad at all !

· Billings up 12.6% to £42.684 billion. · Reported revenue up 7.4% to £9.331 billion, up 5.6% in constant currency. · Like-for-like revenue up 5.3%. · Headline EBITDA up 15.8% to £1.439 billion from £1.243 billion. · Headline operating profit before interest and tax up 20.8% to £1.229 billion from £1.017 billion. · Headline operating margin of 13.2% for the full year, well ahead of the Group's target of 1.0 margin point or more, with 15.8% in the second half, 0.4 margin points above both the second half pro-forma margin for 2008 and for 2009. On gross margin, headline operating margin was 14.4%, up 1.7 margin points. · Headline profit before tax up 27.3% to £1.034 billion, over £1 billion for the first time, from £812 million. · Profit before tax up 28.5% to £851 million from £663 million. · Diluted headline earnings per share up 27.7% to 56.7p (an all time high) from 44.4p and above the previous high of 55.5p for 2008. · Reported diluted earnings per share up 30.0% to 45.9p from 35.3p. · Second interim dividend increased by 15% to 11.82p per share making a total for the year of 17.79p, an increase of 15% over 2009, to a record level. · Target dividend pay-out ratio to be increased from approximately 30% to approximately 40% over the medium term. · Net new billings of £3.001 billion ($4.802 billion) in 2010, also topping all new business league tables. · 2011 budgets indicate like-for-like revenue growth continuing at around 5%. · Given strategic progress, revenue share objectives for new markets and new media hiked to 35% - 40% from one-third.

http://www.investegate.co.uk/Article.aspx?id=201103040700093222C

http://www.investegate.co.uk/Article.aspx?id=201103040700163221C

Well ! There is only one direction open to us now - exploration. All revenue making part of Company gone until Athena starts producing in 4Q

The application of sale proceeds The proceeds from the Disposal will be applied as follows. · Repayment of bank debt at completion of the Disposal - approximately A$6.4 million. · Funding the 10% share of the Athena Oilfield development - approximately A$14million. · Working capital - approximately A$3.35 million. The above accounts for the initial consideration of A$23.75 million received at completion of the Disposal. If Rheochem receives any of the subsequent conditional payments, those proceeds will be used for working capital and exploration costs.