Member Info for mulledwine

RESULTS CONFIRM FURTHER RECOVERY · Growth in net rental income and earnings per share - Net rental income increased by 4 per cent in total and 2 per cent like-for-like - 15.4 pence adjusted earnings per share, up 2 per cent on 2009 · Positive operational performance - 181 long term lettings generating £28 million annual rent, an increase of £16 million from the previous rent - Good letting progress at St David's, Cardiff, extension now 83 per cent committed by income (65 per cent on opening) - Occupancy remains strong at 98.6 per cent (97.7 per cent including St David's, Cardiff) - Footfall up a further 3 per cent like-for-like year on year, 6 per cent in two years · Property valuation improvement - Valuation surplus 11 per cent, including 3 per cent in the second half, out-performing IPD - NAV per share up 51 pence, 15 per cent up from demerger pro forma - Total financial return including dividends for the year of 20 per cent

http://www.investegate.co.uk/Article.aspx?id=201102230700116824B

Greg Fitzgerald, Chief Executive, commented: "We are currently on track to deliver the objectives of our three year housebuilding expansion plan during the next financial year. The spring selling season remains crucial, and although it is too early to judge whether it will be sustained, the improvement in our sales rate during the first few weeks of 2011 is encouraging. Our strategy for managing our construction business in challenging times is working well and the underlying results give us confidence that we will be able to grow the business again when markets improve. Although the economic outlook is still uncertain, the board is encouraged by the group's performance and progress in the first half of the financial year, and is confident in its strategy for delivering the objectives of its expansion plan."

Financial Highlights · 29% growth in pre-exceptional profit before tax · £174 million construction cash balance contribution to better than forecast £30.7 million net debt · 36% growth in interim dividend Operational Highlights · On track to deliver housebuilding expansion plan objectives in 2012 · 100% of plots for planned production in 2012 now secured, with 65% of 10,000 plot landbank acquired at current market values · 19% increase in sales currently reserved, contracted or completed at £442 million (last year: £370 million), with encouraging increase in sales rate since start of 2011. · 2.5% construction margin demonstrates resilient performance (2009: 2.4%) · £1.75 billion construction order book (2009: £1.8 billion), underpinned by our success in securing large water schemes to add to our long term frameworks

http://www.investegate.co.uk/Article.aspx?id=201102230700096711B

Housebuilder Galliford Try has been encouraged by sales in the first few weeks of 2011, while the end of 2010 was not so bad either. The company declared a 29% improvement in underlying pre-tax profit to £17.0m for the six months to 31 December 2010, from £13.2m the year before (2009: £6.4m after exceptional charges).

The 2 year graph says it all !

Results and dividends The Group profit after tax increased by 173% to £56.3 million (2009: £20.6 million) The Directors recommend a final dividend of 5.10p per share for the year ended December 31, 2010 which, with the interim dividend of 3.95p per share paid on January 12, 2011, will make total dividends for 2010 of 9.05p per share (2009: 8.35p).

Commenting on the preliminary results, Peter Boycott, Chairman of Anglo Pacific, said: "I am pleased to report that, despite volatile equity markets and continuing economic uncertainties, the Group has continued to make good progress with its strategy of developing a leading portfolio of royalties. During the year we have increased and diversified our portfolio further by acquiring three new royalties and an option to acquire an additional royalty. At the same time we have seen a significant increase in the royalties received from existing assets and have made progress in developing the private Canadian coal assets. Anglo Pacific Group is now quoted on both the TSX and the LSE and the profile of the Group both in the industry and amongst investors continues to grow. We look forward to expanding our shareholder base in North America over the coming year. The Board remains confident it can continue with its strategy of acquiring new royalties to generate cash flows and is therefore pleased to be able to propose a 9.7% increase in the final dividend for shareholders."

Anglo Pacific Group PLC ("Anglo Pacific Group" or "the Group") (LSE: APF, TSX: APY), today announces preliminary results demonstrating a substantially expanded royalty portfolio and a further increase in its total assets to record levels. After realising substantial profits from the sale of non-core mining interests and receiving record royalty cash flows, the Board will again be recommending an increased final dividend. Financial highlights Royalties · Australian coal royalties independent valuation of £177.1 million (2009: £149.9 million) · Total value of other royalties £82.6 million (2009: £35.3 million) · Royalty income for the year of £30.1 million (2009: £20.3 million) Assets · Total assets increased by 33% to a record £415.6 million (2009: £312.5 million) · Total quoted and unquoted strategic interests valued at £128.5 million (2009: £113.5 million) · Cash and receivables at the year end of £37.1 million (2009: £19.3 million) Earnings · Profit before tax increased by 154% to £65.8 million (2009: £25.9 million) · Earnings per share increased by 173% to 51.99p (2009: 19.07p) · Realised profits for the year from non-core mining interests of £41.0 million (2009: £6.4 million) Dividends · Final dividend increased by 9.7% to 5.10p per share (2009: 4.65p) · Total dividends for the year increased by 8.4% to 9.05p per share (2009: 8.35p) Operational highlights · Continued diversification of the Group's royalties portfolio · Acquisition of two substantial iron ore royalties · Market demand for mining finance continued to be strong · Initial NI 43-101 and JORC compliant resource announced for the Panorama Coal Project in British Columbia, Canada · Increase in value of quoted and unquoted strategic interests · The Group's ordinary shares listed on the Toronto Stock Exchange (TSX) from July 9, 2010 under symbol APY

http://www.investegate.co.uk/Article.aspx?id=201102230730026757B

Kalahari's Executive Chairman, Mark Hohnen, said, "The Husab Uranium Project in Namibia continues to yield excellent results. The scale of the project continues to increase; with these results from Extract's exploration programme identifying a further two highly exciting target zones beyond the Rössing South anticline, at Middle Dome and Pizzaro. Kalahari considers the size and significance of these new target zones to be extremely important, providing further potential uplift to what is already the world's largest new uranium discovery. Importantly, the best intersection returned, of 20m @ 846 ppm U3O8, is the second highest grade-width intersection in the entire Husab exploration (non-resource) drilling database, following RBO 162 on the Zone 2 discovery section, which is truly fantastic considering the scale of Husab already. Additionally the strike length of uranium mineralisation at Salem was increased to approximately 1km, further underpinning the fantastic prospectivity of Husab and its ability to host multiple world class uranium deposits."

CHEMICAL ASSAYS CONFIRM THE EMERGENCE OF NEW REGIONAL EXPLORATION TARGETS AT HUSAB URANIUM PROJECT Highlights: * Continued RC exploration drilling has confirmed uranium mineralisation at several new targets within the Husab Uranium Project, including Middle Dome and Pizzaro Prospects. * Middle Dome is located approximately 6.5 kilometres south of Zone 2, and approximately 4.5 kilometres north of the Salem Prospect. Middle Dome appears to be located on the concealed northern extension of the Ida Dome. * The Pizzaro Prospect is located on EPL 3439 approximately 4.5 kilometres west of the Inca deposit (Deep Yellow Ltd). Uranium bearing alaskitic pegmatites appear to be intruding Khan Formation gneiss in this area. * Strike length of uranium mineralisation at Salem has now been extended to approximately 1 kilometre. * Positive chemical assay intersections from recent exploration drilling at Husab include (see figure 1):

http://www.investegate.co.uk/Article.aspx?id=20110223091807P93CD

Geoff Cooper, Chief Executive, commented: "The Group made excellent progress in 2010, a year in which our organic development strategy, against a background of depressed levels of construction activity, produced a strong financial performance. The Group achieved further market share gains and impressive increases in profits. The Group's strategic position and prospects in the UK have been considerably strengthened through the recent completion of the BSS. "Our three main targets for 2011 are to drive organic growth, drive cash generation and to integrate BSS to get the best out of the acquisition. We have made a strong start to 2011 and consequently we look forward to another year of good progress."

GROWTH IN A FLAT MARKET DRIVEN BY OUTPERFORMANCE IN EVERY BUSINESS FINANCIAL HIGHLIGHTS · Group revenue up 8% at £3,153m, up 5% on a like-for-like basis · Adjusted profit before tax up 20% to £217m · Adjusted EPS up 5% before consolidating BSS, up 3% to 77.2p on a reported basis · Adjusted group operating margin before BSS impact increased by 0.1% to 7.8% · Net debt reduced by £205m before the effect of the BSS acquisition and the one-off pension contribution · Year end net debt was £774m. Adjusted net debt to EBITDA was 1.92x (note 12) · Travis Perkins pension fund into surplus of £32m · Final dividend of 10p per share making a total dividend of 15p per share · BSS acquisition completed on 14 December 2010 for £799m enterprise value OPERATING HIGHLIGHTS · All 11 group businesses performed better than the market with outperformance of around 4% in merchanting and around 6% in retail · Focus on operating and financial performance maintained against background of completion of the acquisition of BSS · Strong like-for-like performance in merchanting with increase of 7.3% · Retail like-for-like sales increase of 0.2%

http://www.investegate.co.uk/Article.aspx?id=201102230700126835B

Wed, 23/02/2011 - 00:00 | Fiona Bond Travis Perkins (TPK) takes to the stage today and following on from its acquisition of BSS in December, analysts are expecting further detail on the deal which should prove positive for market sentiment. "After a strong like-for-like sales showing to November, and weaker December as a result of the weather, there will be a focus on how January has fared and also how Travis management sees the full year. "We believe BSS adds a strong growth dimension to Travis' existing ability to outperform the peer group operationally and argue that the shares are too cheap, especially on 2012 estimates when BSS will be fully integrated," said Numis analyst Howard Seymour.

Tony Shepard, analyst at Charles Stanley, said the group remains focused on the three 'C's; cash, cost and return on capital. Overall, the group's cost reduction measures are expected to achieve £82 million of annual savings by 2011. “The restructuring programme in plastic packaging is nearing completion, and the leaner cost base will benefit the results going forward. It appears that Rexam may sell its plastic closures business according to press reports. The shares are on a 2011 PE of 11 times and an estimated dividend yield of 4%. "Our recommendation is 'hold'," he added

http://www.investegate.co.uk/Article.aspx?id=20110223070000PC6CC