Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201209110700039231L

mplats CEO, Terence Goodlace, commented, "Should this implementation be effected as per the demand, this would equate to a double increase within a period of six months." In a meeting with the IWC, the Company yesterday proposed a process of open mediated dialogue with all stakeholders to find a sustainable resolution as quickly as possible. At the meeting, the Company also offered to conduct a full wage review to commence as early as possible to ensure that all stakeholders' demands are considered and discussed in detail. Mr Goodlace added, "Our overriding imperative in this process is to ensure peace, order and stability. We believe that current tensions are an issue for the entire industry. Profitability margins continue to remain under severe pressure with consequences for all concerned. We are therefore actively engaging all stakeholders at the highest level as a sustainable solution can only be delivered through the collaborative efforts of all parties, at all levels."

IMPLATS LABOUR RELATIONS UPDATE Implats is in the process of informing all stakeholders that the Company has received a wage demand from the Interim Workers Committee (IWC) at Impala Rustenburg. At the end of April 2012 a wage increase was implemented which formed part of the settlement following the industrial action that was concluded during early March 2012. Despite clear commitments from all parties to uphold the settlement, the IWC has now demanded that the Company implement the same increase again for the second year of the 2011/12 wage agreement. These increases have already been implemented and were brought forward by a period of two months to April 2012 as a gesture of goodwill.

http://www.investegate.co.uk/Article.aspx?id=20120911070000PC2F8

Nik Philpot, Chief Executive Officer of Eckoh, commented: "We are delighted to have won our first partnership with Serco on such a prestigious public sector client. The cost efficiencies and flexibility of our solutions, combined with the high level of customer satisfaction that they receive, is attracting interest from many public sector organisations. We look forward to working with Serco over the forthcoming months to develop further opportunities."

Eckoh wins three year Central Government contract with Serco Eckoh plc (AIM: ECK), the UK's leading provider of speech recognition and associated payment solutions, today announces it has been awarded a three year contract with international services company Serco to provide hosted speech recognition services to a client within central government. The contract, which was won through a public tender process, will see Eckoh develop and implement a range of hosted speech recognition services across the client's customer service operations. The first service is expected to go live later this year. The solution, which is based on a number of Eckoh's products including EckohID and EckohLOCATE, will assist callers to find their nearest location, request literature and access a range of information through an automated speech recognition system. The implementation aims to reduce call waiting times, free up contact centre agents to deal with more urgent and complex issues, and achieve significant cost savings for the organisation.

http://www.investegate.co.uk/Article.aspx?id=201209110700049301L

Kingspan Group plc ("Kingspan") announces completion of the acquisition of ThyssenKrupp Construction Group and Rigidal Industries LLC Further to its announcement on 10 August 2012, Kingspan, the global leader in high performance insulation and building envelope systems, is pleased to announce that following receipt of local regulatory approvals it yesterday completed the acquisition of the various companies which comprise ThyssenKrupp Construction Group. In addition, Kingspan also announces completion last week of the acquisition of Rigidal Industries LLC. There are no material changes to the terms of the transactions as originally announced.

http://www.investegate.co.uk/Article.aspx?id=201209110700039256L

In FY 2012 the Group's total cost base reduced by $3m despite supporting higher sales volumes and the Group's $1m share of sales and marketing investment in our EU Joint Ventures. Net cash from operations, before financing: The Group generated $4.5m of operating cash-flow before interest and financing, a $15m cash-flow improvement on prior year. Inventories: At $74m inventories are $23m lower than at June 2011 and $40m lower than their peak at December 2010. Further reductions are expected as sales volumes increase before they stabilise at a consistent proportion of sales demand. Cash and net debt: The Group ended FY2012 with gross cash of $24m, net debt of $78m and cash and facility headroom of $44m. Headroom was further boosted after the year end with the $31m proceeds of our Private Placement completed in August 2012. The Group is sufficiently funded for its current expansion plans.

Sales: In FY 2012 sales were $7.8m (15%) lower than FY 2011. This reflected FY 2012 being the first year in the Company's history with no pre committed "Take or Pay" contracted sales, which had totalled $22m in FY2011 ($29m in FY 2010 and $54m in FY 2009). Our non "Take or Pay" high purity sales have increased from $6m in FY2010 to $39m in FY 2012, with FY 2012 volume growth of 125% Sales volumes: In FY 2012 total volumes of high purity stevia increased by 26%. Volume increases were led by sales of the portfolio of proprietary new ingredients introduced over the past eighteen months (Alpha, SG95, Natural FlavorTM range), each of which increased by more than 100%. The Group has established a portfolio of ingredients and a well balanced mix of sales is anticipated going forward. Despite the volume increase, FY 2012 sales levels remained sub-scale and did not reflect the strong growth in end market usage of high purity stevia. This is principally due to the continued impact of inventory at Beverage Global Key Accounts (BGKAs). Gross profit: In FY2012 gross profit was $4.9m (11% of sales), an increase of $0.8m (19%) over FY2011, despite the lower sales revenues. The Group's variable contribution margin for high purity stevia revenues improved by ten percentage points over FY 2011, reflecting improved product mix and lower variable costs. Foreign exchange: In FY 2012 the Group incurred foreign exchange costs of $2.1m against gains in FY 2011 of $5.2m, a year on year profit impact of $7.3m. EBITDA: In FY 2012 the Group's EBITDA was a loss of $15.2m which was $5.3m higher than the loss of $9.9m reported in FY 2011, reflecting the foreign exchange noted earlier. Both years have been impacted by the exceptional costs relating to the temporary slowing down of Reb A production which was effected across CY 2011 so as to reduce Reb A inventory to levels better aligned with current market demand. Production of Reb A increased in early calendar 2012.

http://www.investegate.co.uk/Article.aspx?id=201209110700049304L

Randy Bartley, President & Chief Executive Officer, commented: "The A-10 well result is outstanding. This well encountered a record amount of net pay for the Songkhla basin with some of the best reservoir characteristics we've seen in the Lower Oligocene interval. We estimate that this doubles the volumetric estimates for this particular fault block. Production will be tied in from this well shortly. The next well will test the fault block immediately to the north and, if successful, could warrant an additional production facility in this location to develop these two fault blocks."

Coastal Energy Announces Successful Appraisal Well at Songkhla A Coastal Energy Company (the "Company" or "Coastal") (TSX: CEN) (AIM: CEO) announces the successful results of the Songkhla A-10 well. The Songkhla A-10 well was drilled to a depth of 7,400 feet TVD and encountered 213 feet of net pay in the Lower Oligocene with 20% porosity. The gross oil column in the well was approximately 550 feet thick. The A-10 well was drilled into the same fault block as the A-12ST#1, which is the easternmost fault block at Songkhla A. The A-12ST#1 originally tested at 3,500 bopd with 105 feet of net pay.

http://www.investegate.co.uk/Article.aspx?id=201209101230018660L

Investment and capital expenditure Investment in new stores for Primark increased in the second half and will be ahead of last year for the year as a whole. Capital expenditure for the group will be lower than last year as a number of major, long-term projects have completed. Continuing projects include construction of the relocated sugar factory at Zhangbei in China and a new yeast plant in Mexico, both of which are progressing in line with plan. The new yeast plant at Yantai in Shandong province is now complete. In July we completed the acquisition of Elephant Atta, the UK's leading ethnic flour brand, for a consideration of £34m and regulatory approval was granted on 6 September. Net Debt The cash inflow before financing in the second half will be much better than last year with the benefit of higher profit, lower capital expenditure and a higher working capital inflow. Taking into account the recent acquisition, the level of net debt at the year end is expected to be below £1.2bn compared with £1.3bn last year.

Pre Close Period Trading Update Associated British Foods plc issues the following update prior to entering the close period for its full year results, 52 weeks to 15 September 2012, which are scheduled to be announced on 6 November 2012. The group's adjusted operating profit for the second half will be substantially ahead of last year and in line with expectations. The income statement will include a non-cash charge of some £100m for the impairment of property, plant and equipment at the meat factory in Australia. This is an exceptional charge which will be excluded from the calculation of adjusted earnings. Net interest expense in the second half will be a little higher than last year. The underlying tax rate for the year will be slightly lower than that used in the interim results, reflecting the further reduction in the UK corporation tax rate, but higher than last year. As previously indicated, both adjusted operating profit and adjusted earnings per share for the full year will be substantially ahead of last year.

http://www.investegate.co.uk/Article.aspx?id=201209100700047948L

Investec has reiterated its 'hold' rating and 1,300p target price for Primark owner and sugar group Associated British Foods as the firm's pre-close trading update guided to full-year results slightly below forecasts. "We read the FY as a little below our expectations at Group level, with the usual swings and roundabouts underneath," said analyst Martin Deboo. The slightly miss is due to weaker-than-expected profits in Ingredients.

Wolfhart Hauser, Chief Executive, Intertek Group plc, commented: "NDT has a strong reputation and market position and we are pleased to welcome the company to Intertek. Building on our Moody acquisition, this acquisition enhances our existing services to our energy, petrochemical, power and aerospace clients and reflects our strategy of continually expanding our capabilities to meet the full quality needs of clients in each industry".