Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201208220700075062K

Questor in the Telegraph is keen on Britain’s biggest housebuilder, Persimmon, mainly because the firm has committed to giving shareholders 620p per share in surplus capital over the next nine years. This amounts to a £1.9bn giveaway and despite profit taking yesterday (following a 48% share price rise since the beginning of the year), the stock is a buy for income. Tempus in The Times also looks at Persimmon but is more equivocal. The column is impressed with the high margins the firm is achieving on newly acquired land and completions on new houses were up 6% in the first half. On the downside the shares have had a good run and now trade at a relatively high 14 times earnings. Overall Tempus thinks that the strength of income from improved margins may be enough to tempt more investors in.

Royal Dutch Shell plans to spend at least $1bn (£633m) a year exploiting China's potentially vast resources of shale gas, the firm's top China executive has said, in an aggressive strategy to expand in the world's biggest energy market. Shell in March secured China's first product sharing contract for shale gas, hoping that getting in early will allow it to be a big beneficiary from the sort of boom in shale that has transformed the US energy market. Asked if the firm remained committed to a plan to invest $1bn a year in China's shale gas over the coming few years, Lim Haw Kuang said: "Yes, yes and yes." "If there has been an adjustment to that pledge, it could only be an upward revision," added Lim, a Malaysian national and Shell veteran of 34 years, The Guardian reports.

Some very nice figures in the news

Ian Harebottle, CEO of Gemfields, commented: "On the back of solid demand for Gemfields' products, pleasing stock levels and healthy cash balances, our decision to focus primarily on mine development and waste mining during the past year is, I believe, well justified. Despite some early minor delays and slightly lower than anticipated full year production volumes, the past few quarters have continued to deliver improving production volumes, a trend that is likely to continue in the near term. This, together with the progress that has been achieve at our Mozambican ruby mine, provides management with the confidence that the coming year will continue to underpin Gemfields' ambitious growth plans."

A big step for the Company but lets wish the subject all the best

Vernalis Initiates Receptor Occupancy Study of V81444 for Parkinson's Disease and Other CNS Indications Vernalis plc today announces it has dosed the first subject in a Receptor Occupancy study with V81444 which aims to demonstrate A2A activity in man. Following the successful outcome of the Phase I single and multiple ascending dose study announced on 2 May which showed a good safety and tolerability profile in healthy volunteers, the Receptor Occupancy study will examine the relationship between dose, plasma concentration and blockade of the A2A receptor using positron emission tomography (PET) scanning. The trial will also include a preliminary evaluation, using functional MRI (fMRI), of the effects of V81444 on cognitive function. The results are expected by the end of 2012.

http://www.investegate.co.uk/Article.aspx?id=201208220700044967K

I have read more encouraging RNS's

LONDON, UNITED KINGDOM--(Marketwire - Aug. 22, 2012) - Shareholders should note the announcements by African Copper PLC ("ACU" or the "Company") (AIM:ACU)(BOTSWANA:AFRICAN COPPER) on 28 February 2012, 16 April 2012, 30 May 2012 and 10 July 2012 in which ACU stated that it had been notified by its 84.19% controlling shareholder, ZCI Limited ("ZCI"), that ZCI had initiated a process intended to realise value from its investment in ACU, which process may result in the partial or full sale of ZCI's interest in ACU. Shareholders are advised that the process is ongoing and may have a material effect on the price of the Company's securities. Accordingly, shareholders are advised to continue exercising caution when dealing in the Company's securities. A further announcement will be made in due course.

http://www.investegate.co.uk/Article.aspx?id=20120822070032M3852

Other events In August 2012, the Department for Transport announced that the Group's joint venture, Virgin Rail Group, had not been awarded the new West Coast Trains rail franchise. Virgin Rail Group will cease to operate the West Coast Trains franchise in December 2012 when the new franchise commences. Further details are given in our announcement of 15 August 2012. Stagecoach Group is shortlisted for both of the other UK rail franchises it applied for and we are making good progress with our bid for the Great Western franchise. We will also consider other rail franchise opportunities as these arise. Outlook Overall current trading remains good and we believe the prospects for the Group remain positive.

The 5.7% decline in revenue at UK Bus (London) is consistent with our previous expectation that some less profitable contracts would not be retained as we restructured the acquired business and improved its overall profitability. The decline reflects the revenue lost from contracts that ended during the year to 30 April 2012. For the year as a whole to 30 April 2013, UK Bus (London) is well placed to maintain revenue with contract losses being offset by some contract wins and inflationary price increases on existing contracts. Financial position The Group continues to maintain a strong financial position with investment grade credit ratings and appropriate headroom under its debt facilities. In July 2012, the Group completed the acquisition of businesses and assets from Coach America, Inc. The transaction was financed from available, committed bank facilities and further details are given in the announcement made by the Group on 23 July 2012.

Interim Management Statement Stagecoach Group plc ("the Group") is today publishing an interim management statement, covering available information for the period to the date of this announcement. Financial performance The overall profitability of the Group has remained good, and there has been no significant change to our expected Group profit before tax for the year ending 30 April 2013.

http://www.investegate.co.uk/Article.aspx?id=201208220700065056K

Outlook In an uncertain macroeconomic environment the Group delivered a resilient first half performance, although market confidence has deteriorated in the last few months. We have therefore moderated our expectations for overall sales and profit for 2012. However, we expect to make further progress on margins supported by new business wins, market share gains, improved productivity and a better product mix. We continue to invest and to pursue opportunities to drive growth in our chosen markets and we remain confident of meeting our operating margin targets.

Geraint Anderson, Group Chief Executive, said today: "Overall we are pleased with the resilience of the business in the current economic conditions. We have continued to make progress reducing our cost base with key projects delivered ahead of plan, and additional programmes now underway. These activities, together with an improving product mix, will deliver further margin growth in a more challenging market environment in the second half. Our global strength has positioned us well with both emerging key accounts and traditional customers, and we have won several major new contracts."

Chairman's statement I am pleased to report that TT electronics has delivered a resilient first half performance with continued progress towards its margin targets in a market that became more difficult towards the end of the half year. Revenue from continuing operations decreased to £271.2 million (2011: £281.8 million), a reduction of 2.9 per cent at constant exchange rates. Operating profit before exceptional items was £15.1 million (2011: £15.2 million), comparing favourably to the same period in 2011 where profitability benefited from a sharp increase in demand in certain markets following the Japanese earthquake and the strong automotive recovery. Despite the difficult markets, actions we have taken delivered margin progression, with the operating profit margin increasing from 5.4 per cent in the first half of 2011 to 5.6 per cent. Headline earnings per share was 6.0 pence (2011: 5.7 pence), an increase of 5.3 per cent compared to 2011. We have made good progress delivering our strategy with continued investment in product development, people and emerging regions to support future growth. The expansion of our best cost manufacturing centres is on track with production commencing at our new site in Romania in the period. The closure of the Boone, North Carolina facility and the associated significant expansion of the Mexicali, Mexico facility has progressed well and will be completed in the third quarter, ahead of schedule. We are committed to focusing on our electronics businesses and are successfully continuing to build our position as a supplier of critical solutions to markets with strong underlying growth drivers where the use of complex electronics is increasing to meet demands for improvements in performance and reliability. In July 2012 we successfully completed the sale of Dale Power Solutions Limited for £10.0 million, following the disposal of the businesses in the General Industrial division, in line with the Group's strategy of realising value from businesses that are non-core. The Group is in a strong financial position with net debt of £7.3 million (2011: £24.2 million). The debt facility has been refinanced at a level of £70 million for a term of five years, providing funding for the Group's organic and inorganic expansion plans. The Board is pleased to declare an interim dividend of 1.5 pence per share (2011:1.2 pence). This represents an increase of 25 per cent over the prior year, reflecting the Board's confidence in the Group's financial position and future prospects.

http://www.investegate.co.uk/Article.aspx?id=201208220700065058K

Citigroup downgrades Chemring Group from buy to neutral, target price raised from 360p to 430p.