Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201207180700078956H

Raven Russia Limited ("Raven Russia" or the "Company") Acquisitions The Board of Raven Russia is pleased to announce two acquisitions close to Moscow. A subsidiary of the Company has signed contracts to acquire a 45,237 square metres completed grade A warehouse at Sholokhovo, on Dmitrov Shosse to the North of Moscow from a fund managed by Fleming Family and Partners for a consideration of $49.75m. The property is let to two tenants, Kuehne + Nagel and Perekrestok (part of X5 Retail) on leases expiring in 2017 and 2015 respectively. The income for the next 12 months is $5.85m giving an initial yield of 11.75%. The property has an existing $20.15m debt facility until 2021 at a margin of 6.5% over US libor. Therefore the equity requirement is $29.6m. In a separate transaction a subsidiary of the Company has signed contracts to acquire 38ha of zoned development land at Padikovo, on the Nova Riga Shosse, to the north west of Moscow for $23m. The Company intends to construct up to 200,000 square metres of new warehousing on the site, subject to obtaining detailed consents, tenant demand and development funding. Discussions with a potential bank are already in progress for development finance.

http://www.investegate.co.uk/Article.aspx?id=201207180700088961H

N + 1 Brewin initiates buy on Henry Boot, target price 155p

nvestec upgrades Stagecoach Group from hold to buy, target price raised from 270p to 305p.

Espirito Santo upgrades Craneware from neutral to buy, target price cut from 400p to 330p

DRAGON OIL PLC (the "Company" or together with its subsidiaries "Dragon Oil" or the "Group") Drilling Update · Dzheitune (Lam) 28/174 well tested at initial rate of 1,705 bopd · Dzheitune (Lam) 13/144C sidetrack tested at 956 bopd Dragon Oil plc (Ticker: DGO), an international oil and gas exploration, development and production company, publishes the results of successful completion and initial testing for the Dzheitune (Lam) 28/174 development well and sidetrack of the Dzheitune (Lam) 13/144C. The Dzheitune (Lam) 28/174 well was completed as a single producer to a depth of 1,976 metres. The well tested for initial production at 1,705 barrels of oil per day ("bopd"). The drilling rig will undergo scheduled maintenance before skidding to spud the next well on the Dzheitune (Lam) 28 platform. The sidetrack of the Dzheitune (Lam) 13/144C well yielded the initial flow rate of 956 bopd from a single string. The reached depth was 2,637 metres. The rig has moved to add intervals on the Dzheitune (Lam) 13/171 well; while testing and optimisation work continue on this well. Dragon Oil is to publish its trading statement for the first half of the year on 24 July 2012.

http://www.investegate.co.uk/Article.aspx?id=201207180700048827H

Charles Wilson, Chief Executive, said: "Booker Group continues to make good progress, with like-for-like non-tobacco sales up 3.8% in quarter one. Our plans to focus, drive and broaden the business remain on track. We are pleased to have the team at Makro UK as part of Booker Group. Together we look forward to improving choice, prices and service for all our catering, retailing and small business customers in the UK."

Booker Group plc ('Booker Group') Annual General Meeting and Quarter One Interim Management Statement For the 12 weeks to 22 June 2012 Booker Group is a leading UK food and drink wholesaler. Booker Group is holding its Annual General Meeting at 11am today. At the meeting, Chief Executive Charles Wilson will read out the following Interim Management Statement: "Non tobacco sales rose by 3.9% (3.8% on a like for like basis) whilst tobacco sales fell by 1.7%. Tobacco has been adversely impacted by the phasing of duty mark up versus a year ago. Total sales in the 12 weeks to 22 June 2012 rose by 1.7% on the same period last year (1.7% on a like-for-like basis). After a good start, we anticipate that Booker Group is on course to meet expectations for the year ending 29 March 2013. The acquisition of Makro UK completed on 4 July 2012, post the end of the first quarter."

http://www.investegate.co.uk/Article.aspx?id=201207180700058893H

Pre-close Trading Update Work Group plc (LSE - AIM: "WORK"), the AIM quoted talent management company, announces ahead of its close period that net fee income (gross profit) for the six months ended 30 June 2012 (the 'period') was £6.2m, 4% down on the corresponding period last year. The market generally for recruitment services has been challenging, with the Group experiencing a slow first quarter in particular. Despite this, the Group made a small operating profit for the period and remains debt-free with net cash in excess of £0.5m. The Group will announce its results for the period on 18 September 2012.

http://www.investegate.co.uk/Article.aspx?id=201207180700058884H

philski - 6 years minimum

Forecasts and valuation: Supported by recent M&A We have maintained our forecasts, though EPS eases due to the increased number of shares after recent share option exercises. The shares trade on 14.2x our FY12 EPS falling to 13.6x in FY13. On a cash-adjusted basis the rating looks attractive, at c 12x in both years. Further, the shares look attractive relative to the M&A deals late last year (Hellman & Friedman purchased Openlink, Openlink purchased Solarc and Welsh, Carson, Anderson & Stowe bought Triplepoint) which were transacted in the region of 3.3-4.6x sales. Brady trades at c 1.7x FY13 revenues and also stands to benefit from this consolidation through a firmer pricing environment.

http://www.edisoninvestmentresearch.co.uk/researchreports/brady180712update.pdf

Trading Update Waterlogic Plc (AIM: WTL.L), a leading manufacturer and global distributor of point-of-use ("POU") drinking water purification and dispensing systems, is pleased to announce a trading update for the period up to 30 June 2012 after entering a close period for its interim results. The Company's core POU business-to-business ("B2B") operations generated revenues of approximately $46.5m (unaudited) during the period and the Board expects total Group revenues for the full year to be in line with market expectations. Generally, direct sales, rental and service sales performed ahead of expectations; however, indirect sales have been impacted by difficult trading conditions. Whilst the resultant change in mix has improved gross margin, it has also lowered EBIT margin compared to the same period in the prior year. There has also been continued investment throughout the period in developing products incorporating Waterlogic's highly innovative Firewall™ ultra-violet technology for the business-to-consumer ("B2C") channel with products now moving from concept to commercial prototype ahead of production of finished units expected to start in the fourth quarter of this year. Waterlogic maintains a strong net cash position of approximately $36.0m (unaudited) as at 30 June 2012, allowing the Company to pursue further acquisitions in addition to the three completed in this period. The Company intends to announce its interim results on 17 September 2012.

http://www.investegate.co.uk/Article.aspx?id=201207180700048488H

Over the coming weeks the eyes of the world will be on London. Michael Turner, Chairman, commented: "With the opening ceremony a mere nine days away and as the Olympic Torch weaves its way closer to the capital, past a growing number of our pubs and hotels, we can see the excitement building. The Brewery is running at full tilt to ensure that everyone can celebrate with a pint of London Pride." The next report will be on 23 November 2012 when the Company issues its half year report for the 26 weeks to 29 September 2012.

INTERIM MANAGEMENT STATEMENT 15 weeks to 14 July 2012 Fuller, Smith & Turner P.L.C. today made the following Interim Management Statement for the 15 week period from 1 April to 14 July 2012, in advance of the Company's Annual General Meeting to be held at 11.00 am, 18 July 2012, in the Hock Cellar, Griffin Brewery, Chiswick, London W4 2QB. Total sales for Managed Pubs and Hotels grew 8.0%, but the persistent rain affected sales in a large number of pubs with gardens, causing like for like sales to decline by 1.1%. The Queen's Diamond Jubilee and Euro 2012 benefited the other parts of the business more noticeably, with Tenanted Inns like for like profits up 1% and The Fuller's Beer Company total beer volumes growing by 1%, helped by the launch of Hope and Glory in May and Wild River in June, which have both proved very popular. Cash generation is very strong and net debt at the end of the first quarter reduced to £134.5 million, down from £138.2 million on 31 March 2012. Net debt to EBITDA (proforma for the impact of acquisitions and disposals) remains unchanged at 2.7 times. The 30 pubs we acquired last year are performing well and achieving our anticipated sales targets, providing a strong foundation for growth. Six of the 13 managed pubs acquired have now been refurbished and the rest will receive investment during the remainder of this financial year. Refurbishments to existing pubs continue to be successful with sales growing 13% as a result of the investments and we are planning increased expenditure this year. We remain focused on investing for the long term in quality pubs, in premium markets. Nigel Atkinson will stand down after the AGM having served for six years on the Board. Nigel was previously Managing Director of George Gale and Company, which Fuller's acquired in December 2005, for 14 years. He has added real value in both roles and his contribution has been extremely important to the Company.