Member Info for mulledwine

Shares in Servicepower Technologies (SVR) surged 1.5p to 8.375p after the outsourced services and field management group announced a "significant" licence and revenue share contract for its ServiceOperations software with insurance provider Assurant Solutions. "This is a potentially transformational deal for Servicepower, providing us with direct access to Assurant's vast global customer base," commented Mark Duffin, chief executive of Servicepower

Price comparison group Moneysupermarket.com (MONY) reported more than tripled pre-tax profits for the year ended 31st December 2010, boosted by growth in its insurance, money and home services business. The company, which uses actor and comedian Omid Djalili in its advertising, posted pre-tax profits of 11 million pounds, up from 3 million pounds a year earlier, on revenue 9% greater at 148.9 million pounds. It added that it has made a "good start to the year", with trading in-line with management expectations. Shares in Moneysupermaket slipped 1.2p to 89.35p.

Aeroplane parts supplier Meggitt (MGGT) posted widened pre-tax profits for the full-year ended 31st December 2010, boosted by strong growth at its civil aerospace and energy units, and said it expects to see further growth in 2011. The company, which supplies products such as flight displays and wheels to plane-makers Airbus and Boeing, reported a pre-tax profit of 256.1 million pounds, up from 234.2 million pounds a year earlier, on revenue 1% greater at 1.16 billion pounds. In light of this, the group recommended a 9% increase in full-year dividend to 9.2p. Shares in Meggitt gained 14p to 352.2p.

Rising demand for new cars in China, India and North America helped engineer GKN (GKN) swing back into profit for the year ended 31st December 2010 and deliver a broadly upbeat assessment of its prospects in 2011. The maker of parts for the automotive and aerospace industries reported an annual pre-tax profit of 345 million pounds, having suffered a 54 million pounds loss in 2009. Sales rose 20% to 5.08 billion pounds, fuelled by strong growth in its driveline, powder metallurgy and land systems divisions. GKN shares moved down 7.55p to 202.35p.

It seems surprising this did not hold its SP over the Christmas period. May be some scope for 10-20% from here.

Shore Capital initiated coverage on N Brown Group (BWNG) with a "buy" rating. The broker believes that the group's unique model of catalogue and internet-based sales combined with a credit offering will come to the fore in these difficult times. Moreover, given the company's formidable credit management systems and that its customer base is already used to resorting to credit, Shore is confident that the business will deliver "significant" growth.

Brewin Dolphin moved its recommendation for Rightmove (RMV), the online property database provider, from "hold" to "add" with an increased target price of 1,051p, up from 842p. The broker believes the prospect for medium term growth at Rightmove remains compelling, supported by the increasing shift towards online marketing, the group's market dominance, product innovation, and customers reliance on its services. That said, despite the recent share price strength, Brewin continues to see good scope for progression.

Ahead of full-year results later this week, Panmure Gordon reiterated its "buy" recommendation for furniture retailer Howden (HWDN) with a 129p target price. The broker believes the group has a strong position in terms of kitchen distribution to local builders. This, combined with the group's focus on operational disciples and scope to add to its network, Panmure believes, continues to make it an attractive investment proposition. However, near-term concerns about VAT increases and consumer confidence may dominate the headlines, the broker concluded.

Evolution Securities maintained its "buy" rating for Craneware (CRW), the software solutions provider for the US healthcare market, with a 675p target price. Commenting on the recent acquisition of ClaimTrust, the broker believes the deal looks strategically "very sensible", and has subsequently upgraded its 2012 earnings per share forecast by 11%. This, along with strong earnings reported in interims, has brought the group's calendarised 2012 earnings multiple down, the broker added, with the stock now trading at a 10% discount to Evolution's US healthcare technology peer group. Despite the bullish note Craneware shares fell 14p to 565p.

Gas Turbine Efficiency restructures loan notes Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - Gas Turbine Efficiency is restructuring its loan notes and asking shareholders to cancel its Aim quotation to enable it to reduce costs and consider whether it is appropriate to sell the business. GTE supplies equipment to clean industrial gas turbines in order to make them more efficient. The company made a substantial loss in 2010 thanks to high fixed costs and non-recurring expenses. Sales rose 4% to $38.7m in 2010, including a flat contribution of $5.5m from aviation which was subsequently sold. The loan notes will be cancelled, and including unpaid interest, will be swapped for up to 18.5m preference shares of $1 each. The conversion price is 9.66 cents, which will reduce by 0.805 cents every six months. The lowest conversion price will be 0.2p a share. The preference shares also have a premium of $1.61 on certain events. This restructuring enables GTE to retain the cash raised from the sale of the aviation engines-related business. After leaving Aim, GTE would be re-registered as a private limited company. Management will consider whether it would be best to sell the business. Sales of the continuing activities should be much higher this year and GTE could return to profitability by 2012.

US army chooses Cobham for threat simulator Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - Defence firm Cobham has won a $4.7m order for the initial design and development of a mobile infrared/ultraviolet threat simulator for the US army. The company said that the contract’s total value could grow to $56m if the customer takes up all the options over the next five years.

Lavendon in need of a lift Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - The key numbers at powered access equipment rental firm Lavendon were all down in 2010 but the company said underlying market conditions progressively stabilised during the year across most of its areas of operation in Europe. "Trading in 2010 remained challenging with the continuation of the cyclical market slowdown. We did however see an improvement across the majority of the group's operations in the second half which enabled the group to deliver results in line with market expectations,” said chief executive Kevin Appleton. Revenues were more or less flat at £225.4m in 2010 compared with 2009’s £226.9m, while earnings before interest, tax, depreciation and amortisation fell to £70.2m from £80.4m the year before. Underlying profit before tax dipped to £13.1m from £13.9m in 2009 while adjusted earnings per share plunged to 5.94p from 19.16p. Despite the dive in earnings, the final dividend has been hiked to 0.67p from 2009’s 0.60p. Net debt at the end of the year had fallen to £140.3m from £182.1m at the end of 2009. Since the year end, trading has been in line with the board’s expectations, and the debt pile has been whittled down further. “In the last few weeks, we conducted operational and business plan reviews with some external support, and these have confirmed opportunities for the group to improve efficiency and drive top-line growth going forward. Following these high-level reviews, we are working to produce detailed implementation plans. The board is confident of the group's ability to deliver increased shareholder value through the cycle,” Appleton said.

Wednesday preview: , Serco,Date: Tuesday 01 Mar 2011 Outsourcing giant Serco is expected to announce pre-tax profit of £226.4m on revenue of £4,310m for 2010, but Panmure Gordon thinks things will start to get tougher from here on in. The broker is close to consensus with its forecast of adjusted profit before tax of £227.7m, up from £194.7m last year, while its revenue projection of £4,312m is also near to the median forecast among investment analysts. It thinks organic revenue growth will be around 7.5%. Panmure Gordon reckons the full year dividend will be 7.3p, a little bit more generous than the market consensus of 7.25p. “We lowered our growth expectations for 2011 estimated earnings in January this year post the closure of Regional Development Agencies, the taking of the Bradford Education contract back in house, as well as the loss of some rail track access charges,” the broker said. “There was also some evidence that revenue opportunities had been passed post the Francis Maude suppliers review/signing of MoU [memorandum of understanding]. On the margin front, the company is confident it will exceed its 6% target by 2012, which will be primarily driven by its overseas business, which accounts for in excess of 30% of group revenues. The order book is expected to stand in excess of £16bn, with a substantial pipeline valued at £28.0bn,” the broker added.

Wednesday preview: Standard Chartered,Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - With results from HSBC out of the way, it is time for the other London-listed Asia-focused banking giant, Standard Chartered, to take centre stage on Wednesday. Standard Chartered makes around three-quarters of its profits from Asia, and competition has been hotting up in the region, putting margins under pressure. At the tail end of 2010 the bank said that it was on course for another record year of profit and income, but it warned that net interest margins have fallen fractionally from levels seen in 2009 due to pressure on asset margins in several products. Cost growth is expected to exceed income growth as the bank has invested in both its businesses (Consumer Banking and Wholesale Banking), opening new branches, hiring new staff and investing in the brand. Increasing competition for staff and higher compliance and regulatory costs have also been exerting upward pressure, the bank said. Deutsche Bank has predicted that Standard Chartered’s net interest margin, the gap between the interest rate it charges borrowers and the rate itpays savers, will fall to 3.52% from 3.76% in 2009, as the company fights for business with the likes of the Industrial and Commercial Bank of China. Market expectations are for Standard Chartered to announce a 25% increase in post-tax profit to $4.2bn, reflecting a decline in the value of bad debts. Pre-tax profit is tipped to rise to $6.15bn from $5.15bn in 2009. Bad loan provisions are seen tumbling to less than a billion dollars from $2.1bn the year before. Broker Charles Stanley predicts earnings per share of $1.97, up from $1.59 in 2009, and a full year dividend of $0.70, up from $0.64. “We will be looking at the full year results to see whether the recent slower income growth and negative 'jaws' was just a function of slower investment spend in H1 [first half] 2009 or whether it is something more enduring. However, Standard Chartered stated that it has 'excellent momentum' going into 2011 and that cost growth will be a shade below income growth in 2011,” said Charles Stanley banking analyst Nic Clarke

Wednesday preview: Date: Tuesday 01 Mar 2011 Down among the small caps, promotional products producer 4imprint should see normalised profit before tax almost double to £9.2m, according to Peel Hunt. “2010 should reveal itself to be a year of material recovery, with a near-doubling of profit on the back of a high teens rise in revenue. Bank debt is modest and the yield substantial. The legacy of pension fund deficit remains an issue that diverts attention from the core commercial strengths of the company,” the broker said. At the halfway point of 2010 the company had a pension fund deficit of £23.0m. A triennial revaluation was due to be finalised in the second half of last year, Peel Hunt notes. Bank debt should fall to around £2.0m, the broker added.

lancshotpot - you could be right but going with the information supplied in RNS's it appears all is well for this Company. Im sure the SP will go up and down depending on many factors and it is off its top at this time but the current trend is still up. Are you able to expand on your doubts for March?

Panmure Gordon has a buy 129p target for Howden,

Pearson freezes Libyan stake Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - Financial Times and Penguin books publisher Pearson has frozen Libya’s stake in the company, which is bigger than the company first thought. Pearson said in June that the Libyan Investment Authority (LIA) had acquired 24,431,000 shares in the company. Chief executive Marjorie Scardino said she was “uncomfortable” about 3% of the company being owned by the Libyans. However, Pearson revealed today that it “has reasonable cause to believe that the LIA may have acquired an additional 2,141,179 shares resulting in a total interest in 26,572,179 shares.” This means the LIA has a 3.27% stake in the company. “Having taken legal advice regarding its obligations under the order, Pearson considers that the ordinary shares in the company which are held by or on behalf of the LIA are subject to the order and are therefore effectively frozen,” Pearson said. “As a result, Pearson has today informed the LIA and its nominees that Pearson will not register any transfer or pay any dividend in respect of the shares until further notice.” Like many countries, Britain has frozen Gaddafi’s assets in the country, which are worth around £1bn.

PM halts De La Rue's Libya deal Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - The coalition government has stopped De La Rue from exporting £900m of dinars to Colonel Gaddafi’s regime in Libya. An export control order slapped on the shipment by the Department for Business, Innovation and Skills makes it a criminal offence to go ahead with the deal. De La Rue, the only banknote printer in this country able to fulfil the order, has yet to comment. Its share price is little changed today. Talk is the firm, which saw off a £900m bid from French rival Oberthur in January, has already been paid for labour and materials. The company’s most pressing concern at the moment is keeping its contract with India’s central bank following paper production problems that cost it £35m and the job of chief executive James Hussey.

As I typed the spread was pulled in bringing the SP up a fraction so we may not see too much of a drop after all today.