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About the best news from Chemring Group’s latest trading statement was that there wasn’t any more bad news,” wrote The Times´s Tempus column on Wednesday morning. That came after the outfit´s latest profit warning, on November 1st, which was its fourth over the past year or so and led to a potential bidder, Carlyle Group, walking away. The latest update rather suggests that the board, including Mark Papworth, the new chief executive, spent the past three weeks or so trying to find something positive to say. Amongst the company´s ills is the scarce forward visibility for US defence, ahead of the resolution of the “fiscal cliff.” Likewise, defence procurement in Britain and on the Continent is going to be held back. Furthermore, a Middle East client has had an export licence delayed because of the Arab Spring. “I suspect this is the nadir of Chemring’s fortunes, but it is hard, in the absence of any further bid activity, to see much catalyst for improvement. A speculative punt, no more,” Tempus adds.

Outlook and Future Prospects Hangar8 has grown at a rapid pace since it commenced life as a public company in late 2010. So far, we have followed the exact path we set out at the time of our listing and delivered on all our objectives, within the most restrictive market conditions for decades. There is a real belief within the business that this is merely the start of our journey. While macro-economic conditions remain challenging, there are tentative signs of improvement. We believe this, combined with the rapid progress we have made in recent times, has created a very exciting platform on which we can leverage the scale, breadth and depth of our business for the benefit of all stakeholders. We have made an encouraging start to the current financial year and continue to explore the global market for the right opportunities to grow our business, whether organically or through acquisition. We have an experienced, committed and dynamic team at the helm, supported by a robust balance sheet, and believe that the enhancements we have made during the past financial year leave us well placed to meet future challenges and opportunities presented by the market. We look to the future with confidence and optimism.

Nigel Payne, Chairman, commented: "It has been a year of significant progress at Hangar8, with the company materially advancing its position against each of its strategic priorities. We have increased the scale of our business by winning new aircraft management mandates, expanded the breadth of our geographic offering by establishing new, global operating bases and broadened the depth of our service provision by internalising previously outsourced core functions. While the results underscore the substantial progress we have made there is a real belief within the business that this is merely the start of our journey. We look to the future with confidence and optimism." Dustin Dryden, Chief Executive, commented: "As recently announced, we have enjoyed a very strong start to the new financial year with earnings before interest, tax, depreciation and amortisation for the three months ended 30 September 2012 up 331 per cent to £461,000 (Q1 2011: £107,000). This increase has been driven, in part, by improvements in our profit margins as a result of the significant increase in long-term contracted management and charter revenue that we have achieved. "I continue to see a consistent level of growth in this business and anticipate that the results for the year ended 30 June 2013 will be materially above market expectations."

Operational highlights: · Contracted revenue up by 210% to £10.8m (2011: £3.5m) · Contracted revenues now 68% of total (2011: 22.5%) · Investment in overseas Air Operator's Certificates £0.7m (2011: NIL) · Number of heavy jets under management up by 5 to 13 (2011: 8) · Number of hours flown up 10% to 7,734 (2011: 7,055) · Part 145 maintenance developed into new territories such as Nigeria (Lagos and Abuja), Congo (Pointe Noir) and Kazakhstan (Almaty) · Joint venture with Maltese partner and acquisition of Star-Gate increasing our scale and global platform

Final results for the year ended 30 June 2012 Hangar8, one of Europe's largest operators of privately owned passenger jet aircraft, today announces its financial results for the year ended 30 June 2012. All of the comparative information shown below for 2011 represents the audited results for the 14 month period to 30 June 2011. Financial highlights: · Gross profit up 32% to £4.9m (2011: £3.7m) · Gross margin percentage up 9% points to 29% (2011: 20%) · Earnings used in Adjusted EPS up 37% to £1.1m (2011: £0.8m) · Adjusted EPS up 21% to 16.9p (2011: 14.0p) · Operating profit up by £1.0m to £0.5m (2011: loss of £0.5m) · Basic and diluted EPS of 4.9p and 4.8p (2011: loss of 8.7p)

http://www.investegate.co.uk/hangar-8-plc-(hgr8)/rns/final-results/201211280700131584S/

Matthew Riley, CEO of Daisy, commented: "We are pleased to report the results for this interim period, in which we have seen an improvement in revenue and adjusted EBITDA, as well as a return to strong levels of free cash flow generation. "Our acquisition of Worldwide Group Holdings Limited, in a growing area of the market, is performing well. The business has achieved an encouraging level of annualised revenue growth so far, and the change of ownership has been welcomed by key customers. "Whilst the sector continues to experience difficult macroeconomic and regulatory headwinds, we see our own performance balanced positively by our improving revenue mix and product diversification. Looking forward, we remain cautiously optimistic and expect to see continued strong free cash flow generation during the rest of the current financial year."

Outlook · Macroeconomic and sector headwinds are likely to continue in H2, balanced by improved revenue mix and product diversification. · Improvement in free cash flow*** generation expected to continue in H2. · The market remains highly fragmented and the Board will continue to consider strategic acquisitions that provide clear value for shareholders. · In the absence of significant acquisitions intention to propose maiden dividend and on-going policy at full year results.

Operational highlights Revenue mix and product diversification: · Continued decline in traditional fixed line voice and access at similar rates to last year. Fixed voice calls now reduced to just 15% of Group revenues (2011: 18%). · Improvements in cross-selling with 22% of our Retail base now taking 3 or more products (2011: 20%). Successful acquisition of Worldwide Group Holdings Limited in April 2012: · Acquisition is performing in line with management expectations, with encouraging levels of annualised revenue growth.

Financial highlights Growth in headline revenue, adjusted EBITDA* and net cash generated from operating activities: · Revenue up 1% to £178.1 million (2011: £176.0 million). · Adjusted EBITDA* up 3% to £27.3 million (2011: £26.6 million). · Net cash generated from operating activities up 53% to £20.1 million (2011: £13.1 million). Significant recovery in free cash flow*** generation: · Free cash flow*** up 1% to £17.0 million (2011: £16.9 million). · Free cash flow*** post-exceptional items up 22% to £14.2 million (2011: £11.6 million) and up 97% versus the second half of the year ended 31 March 2012 (£7.2 million).

http://www.investegate.co.uk/daisy-group-plc-(day)/rns/interim-results/201211280700141598S/

Reissue - change to 2013 PBT norm due to inclusion of management incentives http://www.edisoninvestmentresearch.co.uk/researchreports/ABGupdate261112.pdf

The graph since Oct 2011 says it all

Valuation: Around one-third upside The rapid placing of the STB stock shows there is strong investor interest in the company and suggests ABG’s stake is more liquid than may previously have been believed. To have ABG’s own market cap under £100m while its stake in STB is over £155m appears highly anomalous. Our valuation approaches indicate a fair value of c 816p.

http://www.edisoninvestmentresearch.co.uk/researchreports/ABGupdate261112.pdf

Outlook This is now the ninth consecutive commentary on our business performance that I have written against the background of a challenged UK economy. We have for some time felt that the prospects of a general uplift in UK market activity supporting business growth was unlikely to be forthcoming. We have therefore adopted a relatively defensive stance in terms of protecting the balance sheet strength of the business whilst, where we have felt circumstances justified it, being bold enough to move on specific opportunities. Throughout, the Group has continued to invest in our people, systems and fleet to ensure sustainable performance over the medium and long term. Against this background, the Board believes that these results are extremely positive and we are confident that the Group has the resources and capabilities to continue to deliver satisfactory performance into the future. The Board would like to thank the employees throughout the Group for their contribution.

Jeremy Pilkington, Chairman of Vp plc, commented: "The Group has delivered another extremely positive set of results despite continued unsettled market conditions. The strength of these figures highlight the benefit of Vp's well established strategy of focusing on specialist sectors where the Group enjoys strong market positions. We have continued to invest in our people, systems and fleet to ensure sustainable performance over the medium and long term."

Interim Results Vp plc, the equipment rental specialist, today announces its Interim Results for the six months ended 30 September 2012. Highlights Profit before tax and amortisation increased 6% to £11.0 million (H1 2012: £10.4 million) Revenues of £84.0 million, 2% ahead of equivalent prior year period (H1 2012: £82.7 million) Return on capital employed 13.2% (H1 2012: 13.1%) Capital investment in the fleet of £12.6 million Acquisitions of £4.1 million Tender offer for shares completed at £7.8 million Net debt increased to £50.1 million (FY 2012: £40.4 million) Interim dividend increased to 3.25 pence per share Solid balance sheet with strong operational cash flow of £18.6 million Strong individual divisional performances

http://www.investegate.co.uk/vp-plc-(vp.)/one/vp-plc-interim-results/20121128070016H0915/

Paul Dorman, Founder, Chairman and co-owner of Healthpoint commenting on the transaction said: "Healthpoint and Smith & Nephew have much in common - our commitment to innovation, the desire to serve healthcare professionals and a fundamental dedication to improving the quality of life for patients. We are very proud of our employees and the business we have built and believe now is the right time to allow it to grow to the next level by joining a global organisation like Smith & Nephew."