Member Info for mulledwine

Outlook In 2011, a reduction in sales2 is anticipated as the volume reduction in Land & Armaments is expected to complete and as the changes arising from the Strategic Defence and Security Review reduce activity in the UK businesses. The continuing actions to reduce cost and improve efficiency are expected to benefit return on sales and mitigate the impact of that lower activity. In addition, the 2011 results will benefit from the non-recurrence of the Trinidad and Tobago charge. The 2011 performance is expected to be weighted to the second half of the year. With the re-basing of the Land business in 2011, and the cost and efficiency actions, the Group will have established a resilient platform for future growth.

Highlights - Headline sales2 increased by 1.8% - Underlying EBITA3 up 0.8% to £2,214m (2009 £2,197m) after a charge of £100m taken in respect of the terminated Trinidad and Tobago ship contract - Underlying earnings4 per share increased by 1.7% to 40.8p (2009 40.1p) - The total dividend has increased by 9.4% to 17.5p (2009 16.0p) - £500m market purchase of shares completed

http://www.investegate.co.uk/Article.aspx?id=201102170700093782B

Financial update Vectura's financial performance from the 1 October 2010 to date has exceeded Board expectations, mainly due to the earlier than expected realisation of cost savings from our restructuring programme. We now expect our cash generation to be in excess of £9m for the 12 months to 31 March 2011, with cash expected to be in excess of £73m at 31 March 2011. Dr Chris Blackwell, Chief Executive of Vectura: "We have accelerated our timelines to profitability and sustainable cash generation by refocusing and restructuring our R&D operations. This has led to an improved financial performance in the current financial year and with our lead programmes approaching market, we have considerably reduced the risk profile of the business."

Pipeline & Company Update NVA237 (COPD) Phase III trial results expected to be announced in Q2 2011 Novartis expects launch in 2012 QVA149 (COPD) $7.5m (£5.1m) milestone triggered by start of Phase III studies received in May 2010 Novartis expects launch in 2013 VR315 (asthma/COPD) Next milestones expected on approval in EU Licensing discussions ongoing for US and ROW VR632 (asthma/COPD) Good development progress, €0.6m (£0.5m) milestone received from Sandoz in October 2010 VR506 (asthma) Clinical programme commenced VR040 (Parkinson's disease) Licensing discussions ongoing VR496 (cystic fibrosis) Phase II proof-of-concept study results on track to read out in March 2011

Commenting on outlook, James Lambert, Chairman of Animalcare, said: "The first six months of this financial year has seen the completion of the transformation of your business to a high margin focused companion animal veterinary products business which is in a net cash position and will be debt free by 31 March 2011. The Board believes that trading in the second half is in line with market expectations."

Other highlights · Focus on core companion animal veterinary medicines and identification business with earnings less affected by seasonal fluctuations · Revenue growth in the period strongly ahead of the projected overall growth in the companion animal market · Maiden interim dividend of 1.0 pence per share · Strong product pipe line of new licensed veterinary medicines with two new products launched in H1 2011 and at least two launches planned in H2 2011 · Substantial operational cashflow with all borrowings expected to be fully repaid by 31 March 2011

http://www.investegate.co.uk/Article.aspx?id=201102170700083756B

http://www.investegate.co.uk/Article.aspx?id=201102170700073725B

Market didnt like it - what the hell were they looking for ! I may well be in here again soon.

http://sharecrazy.com/beta/Tips/4847/buy-carr-s-milling-industries-crm-at-6725p

Book publisher The Quarto Group (QRT) recommended a final dividend of 4.15p, up from 4p in the comparable period a year earlier, as it reported on a "good trading performance" for the year ended 31st December 2010. In light of the enhanced dividend offering, dividend per share for the year was up 5% to 7.5p. Pre-tax profits for the year rose by 8% to 7.4 million pounds on revenue 7% greater at 113.8 million pounds. Commenting on this, the group said it had seen a continued focus on developing markets, in particular Brazil and China, and improved trading in the UK and Australasia. Quarto shares leaped 15p to 150p.

The robust performance that was seen at KSK Power Ventur (KSK) in the first half of the year has slowed down in the quarter ending December 2010, the India-based power project development company announced, with both sales and profits coming in below expectations. This was attributed to the the various developments in the wider energy market in India and their effect on specific procurers of power from the Wardha power plant, the group added. KSK shares lost 28.5p to 451.5p.

Property investment group Trinity Capital (TRC) and its former investment manager, Trikona Advisers, announced that an agreement has been reached settling all disputes between the parties. Under the terms of the settlement, Trinity will make certain payments to Trikona in cash and other consideration, the terms of which are confidential. Commenting on this, the group said: "The settlement will have no material impact on Net Asset Value (NAV) as it has been covered by provisions previously made." Additionally, the group added that, in light of this, it intends to make "further distribution" to shareholders. Shares in Trinity advanced 4p to 54.63p.

Capital Lease Aviation (CLA) posted increased pre-tax profits for the half-year ended 31st December 2010, driven by marginally higher revenues and substantially decreased costs. The company, which currently leases its aircraft to Australian, American and European airlines, said pre-tax profits rose by 24% to 2.5 million dollars (1.5 million pounds) in the 6-months on revenue up 1.4% to 7.95 million dollars (4.9 million pounds). Earnings per share increased to 2.2 cents (1.4 pence), up from 1.86 cents (1.15 pence) in the comparable period a year earlier.

15/02/2011 Billing Services Group (BILL), the provider of clearing, settlement, payment and financial risk management solutions, announced that operating revenues for the year ended 31st December 2010 are likely to be "slightly ahead of the previously published guidance" of between 130 million dollars (81 million pounds) and 132 million dollars (82 million pounds). The company also revealed that it expects EBITDA will be within previous guidance of between 31 million dollars (19 million pounds) and 32.5 million dollars (20 million pound). The shares slipped 1.25p to 8.75p.

Scope for some recovery here

Shares in Micro Focus (MCRO) dropped 108.15p to 286.85p on news the enterprise software provider suffered a "disappointing" performance in the three months ended 31st January 2011 and was unlikely to recover from the shortfall in revenue in the remaining three months of the current financial year. The group said full year revenues are now anticipated to be in the range of 432 million dollars (270 million pounds) to 442 million dollars (276 million pounds). Adjusted EBITDA is anticipated to be in the range of 159 million dollars (99 million pounds) to 167 million dollars (104 million pounds), the group added.

Intercontinental Hotels (IHG) reported on an "excellent year" ended 31st December 2010, swinging to a pre-tax profit, but news that the unrest in Egypt will cost the group 3 million dollars (1.87 million pounds) in 2011 pushed the hotel operators shares down 29p to 1,357p. The world's largest hotel group by number of rooms posted a pre-tax profit of 397 million dollars (248 million pounds), up from a 64 million dollars (40 million pounds) loss a year earlier, on revenue 5.9% greater a 1.63 billion dollars (1.02 billion pounds). In light of this, the group decided to increase total dividend per share by 16% to 48 cents (30 pence).

Evolution Securities issued a "buy" rating for Renewable Energy Generation (WIND), the developer and operator of onshore wind farms in the UK, with a 82p target price. The broker notes that the group recently rejected a 67.7p bid approach. This, Evolution thinks, was the right move as the offer "very significantly undervalued" the business and failed to recognise the value of the firm's development pipeline and wind farms. With that said, if the company meets its capacity expansion targets over the next few years, it could add 10p per annum to the valuation, the broker added