Member Info for mulledwine

BUY - Investor Chronicle 02/03/2011 Recovering Rheochem TIP UPDATE: Rheochem had lots of setbacks but a rising share price suggests there is better news to come.

yam - you may return to 1200 very soon !

http://www.investegate.co.uk/Article.aspx?id=201103030730022371C

http://www.investegate.co.uk/Article.aspx?id=201103030700142369C

Amec shrugs off economic uncertainty By Rory Gallivan Date: Thursday 03 Mar 2011 LONDON (ShareCast) - International engineering and project management group Amec will be the envy of many a company after it said it can expect to grow regardless of the pace of economic recovery. Pre-tax profits in 2010 soared to £258.2m from £203.5m the previous year as revenues grew to £2.95bn from £2.54bn. Projects during the period included support work with oil giant BP in Azerbaijan and an underground mining contract in Mongolia. “The need for increased industry investment across our core markets supports our future growth, regardless of the pace of economic recovery,” the firm said. “We are well positioned to take advantage of the growing demand for natural resources, power and water.” A final dividend of 19.2p a share means a full year payout of 26.5p, up 50% from the previous year. “Although the pace of economic recovery is uncertain, 2011 is expected to be another year of gradual recovery,” the firm’s chief executive Samir Brikho said. “There is a long-term requirement for industry investment in AMEC's core markets and this is expected to drive an increase in demand for AMEC services.”

al00 - Market may be reading the comment "We are mindful of global macro-economic factors that are likely to create challenges in the coming year," as a warning that the profit rise cannot be sustained - but who knows !

al00 -Thought I would say hello ! I have this on a large watch list - good results today

Spirent delivers 32% profit hike Date: Thursday 03 Mar 2011 LONDON (ShareCast) - Telecoms testing group Spirent reported a 32% rise in 2010 pre-tax profit, increased its dividend and said it is confident of further growth in 2011. The company, which tests the performance of IT and communications systems, said pre-tax profit for the year rose to $112.2m compare with $84.9m in 2009. Revenue was up 13% at $482.2m. Spirent said during the year was supported by the growth in mobile internet use and remote computing services. "We are mindful of global macro-economic factors that are likely to create challenges in the coming year," the group said in a company statement. However, Spirent said it is confident market opportunities make it well placed to deliver further growth through 2011. The total dividend has been increased by 30% to 2.5 cents per share. Looking ahead Spirent added, "We are confident that the market for test and measurement will show further growth in 2011 and future years. Ethernet, wireless device and positioning test markets all show positive signs for growth in 2011."

Xanth - I would agree with you yes but the markets are very fickle just now and somewhat unpredictable - Im sure this will return to the 370 mark where it has basically dropped back from on 4 occasions now - similarily this 330 ish mark seems to bounce it up - lets see if it sticks to this cycle!!! If it does not hold here then the Oct low of 290 ish perhaps beckons

http://www.investegate.co.uk/Article.aspx?id=201103030700112342C

SOCO's Vietnam wells hit their marks Date: Thursday 03 Mar 2011 LONDON (ShareCast) - Oil firm SOCO International said drilling of the four development wells in Block 16-1 in the Cuu Long Basin offshore Vietnam has been completed, and the early signs look promising. The wells, tagged TGT-4P to 7P, were drilled in “batch” mode, rather than drilled separately in sequence. Preliminary analysis indicates that the wells have confirmed the reservoir model. The TGT-4P well encountered the top of the target reservoir horizon lower than expected but encountered previously unmapped hydrocarbons in the Oligocene "C" reservoir. The TGT-5P well encountered the main reservoir as expected, as did the TGT-7P well, though in the latter’s case it encountered a thicker pay section than expected. The TGT-6P well encountered the main reservoir higher than expected. The operator of the block, Hoang Long, is now drilling an eighth development well on the Te Giac Trang development. The TGT-8P well, located near the TGT-1X well, will take about 30 days to drill and complete. Once this well has been drilled, the rig will be released to allow the pipelines to be laid and the floating production and storage unit to be set up. All wells are being suspended and will become producing wells upon start-up of production in August 2011. Plateau production during this first phase of development is estimated to be circa 55,000 barrels of oil per day.

US defence cuts squeeze Cobham Date: Thursday 03 Mar 2011 LONDON (ShareCast) - Defence firm Cobham’s profits in 2010 were hurt by delays in orders in the US and the company sees continuing difficulties this year as the world’s only superpower seeks to rein in spending following the financial crisis. Statutory pre-tax profits in the year to 31 December fell to £189m from £245m on revenues that edged up to £1.8bn from £1.75bn. However, underlying pre-tax profits grew to £306m from £295m, the company said. Among the expenses Cobham faced were a £19m post-tax one of settlement of a commercial dispute. “Good revenue growth in certain Strategic Business Units was masked by order slippages on significant defence and security programmes and some continuing softness in certain commercial markets,” said chief executive Andy Stevens. The final dividend rises to 4.4p from 4p previously, taking the total payout for the year to 6p, up 10% from the previous year. “We continue to see challenges in some of our markets and uncertainties as the Continuing Resolution impacts the funding of US Government spending,” Stevens said. “As a consequence, the rate of revenue growth in our Technology Divisions remains at the level experienced during 2010.”

Angus MacSween, CEO of iomart Group commented, "We believe that cloud computing has reached a tipping point, and has significantly moved through the early adopter phase over the past six months. Almost every company, regardless of sector or size that we speak to is considering either a full or part cloud solution for their IT needs." "The differing flavours, or definitions, of cloud computing are now becoming widely accepted and understood, and definite purchasing trends are beginning to emerge. We are finding that the micro business is embracing the public cloud, whilst the enterprise and mid market is seeking the reassurance, scalability, security and reliability that a high availability hybrid or private cloud offers." MacSween added: "Managing diverse computing environments consisting of multiple hardware platforms, operating systems and applications is becoming the critical success factor for the enterprise when migrating and consolidating in the cloud, and they are seeking a trusted supplier as an enabler. It is our high availability cloud offering that represents our sweet spot, with our proven technical capabilities, coupled with our own UK data centres and network infrastructure, proving an attractive and compelling proposition for both new and existing customers."

GLASGOW, UNITED KINGDOM--(Marketwire - March 3, 2011) - iomart Group (AIM:IOM), the cloud hosting and managed hosting services company, continues to see strong demand through its iomart Hosting business, for the outsourcing of IT services to the cloud. iomart Hosting is now closing between 30 to 40 new orders per month from both new and existing customers, having won several significant new contracts in the past few months. Four recently signed contracts, from both new and existing customers, for the provision of a range of complex hosting services, have a combined contractual value in excess of GBP 1.8m. These contracts provide further evidence that cloud and virtualised environments are fast becoming the de facto method of delivering technology services and applications at the enterprise level. New contracts have been secured with office2office, the specialist provider of managed procurement and business critical services, GMG Radio, part of Guardian Media Group, one of Britain's leading radio businesses encompassing the Real Radio, Smooth Radio and Rock Radio brands, a leading pan European network provider and a well known recruitment company.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4084509

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4084678

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4084680

Commenting on the results and outlook, Andy Stevens, Chief Executive Officer, said: "We have delivered 5% underlying earnings growth in challenging markets. Good revenue growth in certain Strategic Business Units was masked by order slippages on significant defence and security programmes and some continuing softness in certain commercial markets. We have made encouraging progress on Excellence in Delivery and achieved cost savings which have contributed to earnings growth from flat Group revenue. "We continue to see challenges in some of our markets and uncertainties as the Continuing Resolution impacts the funding of US Government spending. As a consequence, the rate of revenue growth in our Technology Divisions remains at the level experienced during 2010. We have configured the business with a prudent view of top line growth for the current year and have already accelerated integration plans to deliver £21m of cost savings in 2011. "We continue to have strong long-term positions in attractive markets with superior growth and are focusing our technology investment and acquisition strategy in areas of customer priority. This approach, together with customer and cost benefits from our operational improvement plan, gives the Board confidence that the Group will continue to make progress over the medium term."

· Order intake in Technology Divisions4 up 7% at constant translation exchange rates and important awards on long term programmes · Underlying EPS growth of 5% with efficiencies of over £10m, including savings from the on track Excellence in Delivery programme. · £219m of free cash flow3 and year end net debt/EBITDA down to 0.8 times · Recommended 10% increase in dividend for the year and share buy-back programme of up to £150m · Acquisitions strengthen presence in homeland security market with completion of three bolt-in acquisitions totalling US$175m in 2010 and early 2011 · Aerial refuelling systems selected on important new US Air Force KC-46A tanker aircraft in early 2011

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4084668