Member Info for mulledwine

Second Quarter Trading Update R.G.I. International Limited ("RGI" or the "Company"), the AIM listed developer of quality residential and commercial properties in Moscow and the surrounding areas, announces the following update to the market regarding its trading in Q2 2012. Highlights · Positive sales momentum at the Company's V-Lesu residential development has continued into Q2 with cash collections 35% higher than in Q1 · 452 apartments have now been sold bringing the total area sold from Phase 1 to 29,095 sq. m; total pre-sales of apartments have now exceeded RUR 2.9bn (US$90.6m), with cumulative sales now reaching 36% of the total Phase 1 available for sale · The share of sales financed by mortgage contracts in H1 was approximately 60%, reflecting the high number of occupier rather than investment purchasers within V-Lesu's customer profile · In Q2 2012 the Tsvetnoy Central Market department store continued to improve its performance, with sales up 89% compared to Q2 last year to RUR 585m (US$18.3m). Total store sales for H1 2012 of RUR 1.19bn (US$37.1m) were approximately double those of H1 last year. · On 23 July 2012 the Company announced that it had signed a settlement agreement together with other parties with Synergy Classic Limited, a 24% shareholder in RGI, under the terms of which all legal claims between the parties will be withdrawn.

http://www.investegate.co.uk/Article.aspx?id=201207270700066427I

Simon Borrows, 3i's Chief Executive said: "We are making good progress in implementing the strategic changes announced at the end of June to refocus our investment capabilities and reduce the Group's cost base."

Balance sheet Gross debt as at 30 June 2012 was reduced to £1,254 million (31 March 2012: £1,623 million), following the £223 million repayment of the remaining balance of the June 2012 Floating Rate Note, and early repayment of €150 million of a €300 million bond, which is due to mature in May 2013. The early partial repayment of the May 2013 bond means full year interest costs have been accelerated into this quarter. The benefit in reduced costs will be seen next financial year. Net debt increased to £490 million (31 March 2012: £464 million), as net divestment was offset by operating and interest costs. Consequently, gearing also increased to 19% (31 March 2012: 18%). Liquidity was £1.3 billion (31 March 2012: £1.7 billion), comprising £764 million cash and cash deposits and £491 million undrawn committed facilities.

http://www.investegate.co.uk/Article.aspx?id=201207270700066426I

Commenting on the accelerated payment, Mor Weizer, Chief Executive Officer of Playtech, said: "The acquisition of PTTS has been very successful for Playtech with its financial performance exceeding expectations. The acquisition has strategically positioned Playtech as a turnkey service provider for the online gambling industry and provided profitable new revenue streams. It has also enhanced our ability to partner with third parties in regulated markets."

Acceleration of PTTS additional consideration Playtech, (LSE: PTEC) the international designer, developer and licensor of software and services for the online, mobile and land-based gaming industry, announces that the conditions related to the acceleration of the additional consideration of €140 million payable to Worldwide Online Enterprises Ltd in respect of the acquisition of PT Turnkey Services Limited ('PTTS') as described in the Company's announcement of 10 March 2011 have been fulfilled. Further to the Q1 KPI announcement on 2 May 2012, PTTS's continued strong performance in Q2 2012 has triggered the accelerated payment of the entire additional consideration of €140 million (the 'Additional Consideration'). The acceleration has occurred by virtue of PTTS having achieved an annualised adjusted EBITDA in excess of €40 million in the first two quarters of 2012, which is an approximate 100% increase since completion of the acquisition. In accordance with the original acquisition terms, the Additional Consideration has become payable in four non-interest bearing instalments and will be met by the Company's operating cash flows on the following dates: § within one month from the date hereof, €42 million; § on 31 January 2013, €35 million; § on 31 July 2013, €35 million; and § on 31 January 2014, €28 million. The strong overall performance achieved by Playtech during Q1 2012, which has been previously announced, has continued into Q2 2012. The Company will be announcing its Q2 KPIs and IMS on 7 August 2012.

http://www.investegate.co.uk/Article.aspx?id=201207270700056387I

Highlights · Repositioning of Company as "Ironveld plc" to develop iron ore projects within the Bushveld Complex, South Africa · Placing to raise £3.0 million to fund exploration and development work · Proposed formation of highly experienced New Board with long standing knowledge of the Project area and in-depth capital markets experience

Outlook Despite the significant impact of unprecedented weather on the market in the early summer, we have delivered solid growth as our brands have responded extremely positively to continued development and investment. Assuming there will be no further deterioration in the market place we anticipate further growth and margin improvements in the second half. We plan to maintain our long term agenda of investing in brands and developing the infrastructure and organisation capable of delivering future growth.

CONT Margins in the period have been impacted by increases to cost of goods, increased brand investment and adverse changes to our sales mix at brand, pack and channel level and as a result we expect profits in the first six months to be slightly below the prior year. We anticipate that margins will improve in the second half but that it is unlikely to offset the margin shortfalls of the first half. Our operational focus has been to deliver a strong level of customer service across our business at the same time as we develop the detailed execution plans for our investment in the Crossley site, at Milton Keynes. We have now completed all of the development actions for Crossley and having obtained detailed planning approval we have now committed to the full project, including a new credit facility through HSBC to support the development. We anticipate, as previously guided, a full project budget of c.£41m and a production commencement date for the site in the third quarter of 2013. Over the period our balance sheet remains strong and our capital investment plans are in line with our expectations.

Pre close trading update A.G. BARR p.l.c., the soft drinks group, will announce its interim financial results for the six months to 28 July on 24 September 2012. As has been widely reported during the course of 2012 the total soft drinks market has seen some marked changes in overall performance, in particular from March onwards when the market was significantly impacted by adverse weather. For the 26 weeks to 23 June 2012, Nielsen reported the total soft drinks market volumes down 1% whilst value was 2% ahead. Within this overall performance, carbonates volume was flat with stills declining by 3%. The carbonates category was once more driven strongly by the energy segment, which grew in value by 11% over the time frame. In recent weeks the weather has been extremely poor, with record levels of rainfall and we expect this will have had a further negative impact on market performance when the data is available for the remainder of June and July. During these difficult trading months, A.G. Barr has continued to grow strongly ahead of the market and we anticipate sales revenue of c.£130m, an increase of over 4.5% on the prior year. Despite the difficult operating conditions, we have maintained our strategy of investing in brand equity and extending distribution. Our core brands continue to respond well to this consistent long term approach.

http://www.investegate.co.uk/Article.aspx?id=201207270700066408I

Commenting on the signing of the agreement, John Russell, Group Chief Executive, said: "The UK car market is one of the most discerning in the world and it is appropriate that we take the extra time this extension gives us to ensure that the final distribution agreement is a firm foundation for a successful launch.''

Extension of agreement with Geely International Corporation Manganese Bronze Holdings PLC ("MBH"), the leading manufacturer of the distinctive London taxi, announces the signing of an agreement with Geely International Corporation ("Geely") to extend by a further year the one-year agreement announced on 17 August 2011 relating to the potential distribution in the United Kingdom of Geely's vehicles and spare parts, and the provision of after-sales service. Under the terms of the original agreement, MBH had been granted exclusivity to develop and agree a business plan with Geely covering all aspects of the potential launch of Geely products in the United Kingdom and their ongoing after-sales support. MBH and Geely have established a project team to determine the scope of any future distribution arrangements and remain committed to entering the UK market with a competitive and appealing product range backed up with an effective after-sales process. Whilst it is the clear intention of both parties to agree the business plan and enter into a longer-term distribution agreement, should this not be possible, the agreement will lapse on 1 August 2013.

http://www.investegate.co.uk/Article.aspx?id=201207270700066409I

OUTLOOK Our 2012 outlook is unchanged. In a challenging external environment with turbulent macroeconomic conditions and rapid structural industry change, we are making progress on our strategic goals of making Pearson more digital, more active in developing markets and more directly engaged in helping students succeed. We are reiterating our outlook and continue to expect Pearson to achieve growth in sales and operating profits in 2012. In addition, we expect our deferred revenue to rise and our working capital to sales ratio to show further improvement. Our 2012 results will reflect the sale of our 50% stake in FTSE International (which contributed no sales, £20m of operating profit and 2.2p of adjusted EPS in 2011) and higher tax rates (after one-off benefits in 2011). Margins will reflect integration costs on acquisitions made in 2011 and 2012 (which are expensed) and the FTSE sale. This guidance remains struck at £1:$1.59 exchange rates.

Marjorie Scardino, chief executive, said: "We began 2012 planning for a challenging external environment and our caution was well-placed: conditions have been tough in the early part of this year and, for a couple of parts of Pearson, tougher than expected. But that's precisely when our planning for structural change and our investments in growth markets show their power. We've kept up the pace of transformation, and continued our shift towards digital and services businesses, which this year for the first time will yield the majority of Pearson's revenues. That strategy will enable us to deliver on our long-term goals of expanding our market opportunity, delivering consistently strong financial performance and helping all kinds of students in all kinds of places to learn."

Full year outlook reiterated · At this early stage, Pearson sees good trading momentum in North America, International and the FT Group offsetting weakness in Professional Education and Penguin. · Pearson reiterates full year outlook of growth in sales and operating profits at constant exchange rates, with margins reflecting acquisition integration costs and the FTSE sale. Interim dividend raised by 7% to 15p per share.

PEARSON 2012 INTERIM RESULTS (unaudited) Sales up 6% to £2.6bn* · Strong growth in Education (up 9%) and the FT Group (up 7%). · Penguin sales 4% lower on phasing of publishing schedule and continued industry change. First-half operating profit lower, as expected, at £188m (2011: £208m) · Education profits up 6% on growth in North America (up 30%) and International (up 17%). · Professional profits £17m lower. New funding criteria for 16-18 year old apprenticeships result in sharp decline in volumes; UK training business reshaped. · Sale of FTSE International reduces first-half operating profit by £10m; excluding FTSE, FT Group profits level in spite of increased restructuring charge. · Penguin profits lower at £22m (H1 2011: £42m) on drop-through from lower first-half sales; stronger publishing schedule in H2. Rapid growth in digital and services businesses and developing markets · Sales up approximately 20% in developing markets (headline growth) · Education digital platform registrations up 30%; FT digital subscriptions up 31% and now exceed print circulation; Penguin ebook revenues up 33% and now almost 20% of Penguin's revenues. · Revenues from digital and services to exceed traditional publishing businesses in 2012.