Member Info for mulledwine

NCC Group Increasing international revenue growth drive revenues up 24% and profits up 27% Eight year CAGR for operating profit 21% and dividend 31% 5 July 2012. NCC Group plc (LSE: NCC, "NCC Group" or "the Group"), the international, independent provider of Escrow and Assurance, has reported its preliminary results for the year to 31 May 2012. Financial § Revenue increased 24% to £87.7m (2011: £71.0m) - organic 17% growth § Operating margin* increased to 27% (2011: 26%) § Adjusted pre-tax profit* increased 27% to £22.6m (2011: £17.8m) § Adjusted fully diluted earnings per share* up 24% to 46.7p (2011: 37.7p) § Total dividend up 24% to 16.1p (2011: 13.0p) § Cash conversion ratio 131% of operating profit (2011: 133%) Operational § Group Escrow maintained strong revenue growth of 12% - UK up 7% o Increased US presence § Assurance Division enhanced international profile and position o Organic revenue growth 23% and operating margin up to 17% (2011: 14%) o iSEC acquisition notably enhanced position and widened global capabilities o Innovation and development of potential major areas, including .secure and DDoS Secure

http://www.investegate.co.uk/Article.aspx?id=201207050700069584G

Commenting on the acquisition, Colin Drummond, Chief Executive of Viridor said: "The acquisition of JWT provides excellent synergies with Viridor's existing activities in Manchester and across the North West. It complements other recent acquisitions in the region and Viridor's development of the UK's largest waste fired Combined Heat and Power facility at Runcorn, the first phase of which will be operational in 2013. The acquisition is expected to be earnings enhancing in its first full year."

Pennon Group Expands its Waste Management Business in the North West Pennon Group Plc has announced that its subsidiary, Viridor Waste Management Limited, has acquired JWT Holdings Limited, a waste collection and recycling business based in Atherton, Greater Manchester, from John William Thomasson. The total consideration was £7.60m (£6.58m cash plus acquired net debt). The acquisition is in line with the Group's strategy of expanding its waste management activities, particularly in the collection, recycling and energy recovery sectors. The acquired business employs 45 staff and handles around 70,000 tonnes of material per annum. It has a Materials Recycling Facility and a fleet of twenty-nine vehicles which will be integrated into Viridor's northern region, complementing the commercial collection services of Viridor's Trafford Park operation.

http://www.investegate.co.uk/Article.aspx?id=201207050700079603G

Robert Walters, Chief Executive, commented: "We have delivered a stable performance against a backdrop of deteriorating conditions in the global financial markets. This has been achieved by a long term strategy of investing in territories that offer the best growth prospects and we are also ensuring that we maintain a leading position in our more established markets. We are continuing with this strategy with new offices opened in the UK, Australia and Brazil. "We have a strong balance sheet and an experienced management team. We will continue to maintain our presence in the territories where market conditions are challenging, whilst also investing in the business for the long term to take advantage of growth opportunities in new and emerging markets." The Group will publish its Half-yearly Financial Results for the six months ended 30 June 2012 on 2 August 2012.

· Stable second quarter performance against deteriorating market. · Asia Pacific impacted by banking sector slowdown; successful diversification into other disciplines expected to deliver return to growth in the second half. · Resource Solutions, the Group's recruitment outsourcing business, performed strongly. · Europe was impacted by ongoing Eurozone financial and political uncertainty, although France and Germany produced net fee income growth. · Three new offices opened during the period - Milton Keynes, Parramatta and Rio de Janeiro. The Group now has 51 offices in 23 countries. · Balance sheet remains strong, with net cash of £4.5m as at 30 June 2012 (30 June 2011: £10.7m). · Group headcount of 2,159 (31 December 2011: 2,047).

http://www.investegate.co.uk/Article.aspx?id=201207050700079636G

Valuation: Worthy is the Lamb Edison’s DCF model yields an equity value of £78.2m, or 327p per share, ignoring any potential dilutive effect from a bond restructuring or refinancing. Accordingly, although there is considerable upside, this has to be considered in light of a likely future refinancing, the terms of which can only be speculated on at present

http://www.edisoninvestmentresearch.co.uk/researchreports/skyepharma040712update.pdf

The Real Good Food Company Buy 03-Jul-12 £21,600.00 Chris Thomas 40,000 @ 54.00p

Rubicon Diversified Investments Buy 04-Jul-12 £26,488.00 Richard Blakesley 688,000 @ 3.85p Rubicon Diversified Investments Buy 04-Jul-12 £19,250.00 Edward Winter 500,000 @ 3.85p

The Chief Executive Officer (CEO) of FTSE 250 electronics and maintenance products distributor Electrocomponents has, alongside the group's Finance Director, sold off a number of shares awarded under the company's deferred bonus plan. CEO Ian Mason earned himself £100,554 after selling 48,460 at 207.50p each, while Finance Director Simon Boddie ditched 32,307 for 207.50p each, pocketing a total of £67,037. Under the plan Mason was awarded 93,005 shares and Boddie was given 62,003, all of which full vested on Monday.

Connemara Mining Company Drilling on Thurles Block Connemara Mining ("Connemara" or "The Company") (AIM: CON), the diversified exploration company with principal assets in base metal zinc and lead exploration licences across Ireland, today announces that drilling has been completed on Thurles Prospecting Licence 1577. The results from this latest drilling, when combined with that from three earlier holes, are sufficiently encouraging for The Company to apply for a two year extension of the licence over the four blocks in the Thurles area. The hole encountered thick sequences of Suprareef lithologies, some of which were brecciated and fractured, with extensive cavities. The extensive broken, cavity and brecciated rocks encountered in this hole suggest that it was drilled down a significant structure, which is supported by the gravity data for this area. No mineralisation was encountered in this hole. The hole was stopped at 294.3m due to the difficult and slow drilling conditions. The data is being extensively analysed and included into the general regional picture of the licence block and beyond. The Thurles Block is dominated by a southwesterly plunging syncline, located close to Vedanta's Lisheen Mine. Southwestern trending faults, with NW offsets are key in the development of the Lisheen orebodies. Similar structures could be developed on the Thurles Block, as possibly shown by the latest drilling on PL1577.

http://www.investegate.co.uk/Article.aspx?id=201207050700079621G

Valuation: Multiples look attractive, given the growth profile At the current share price the stock is trading on multiples as low as 1x sales and US$1m/MW for 2014e, which do not appear to reflect the growth potential of the group. If we assume the new capacity can produce similar levels of profitability to the current 77MW and is delivered according to the existing schedule, which is considerably de-risked now, as it is all at the same location, then underlying earnings could potentially triple by 2014. This would put the stock on 6.6x 2014e, with another 472MW due to be commissioned in FY15.

http://www.edisoninvestmentresearch.co.uk/researchreports/OPG040712QuickView.pdf

Credit Suisse expects a slowdown in organic sales growth in the European luxury goods sector but says it favours British firm Burberry for its brand momentum and self-help growth potential, reiterating its 'outperform' rating and 1,650p target price on the stock. The broker said that "Burberry looks better equipped than ever to navigate through an uncertain environment with more retail and more balanced geographic mix, it has fewer legacy issues to deal with than in the past and should soon reap the full benefits of the gradual implementation of SAP."

Valuation: Good value despite recent run Following the share price run post deal, Silverdell trades on a September 2013 P/E multiple of 6.2x. This appears modest in the context of its expanded market opportunity. Our updated DCF suggests a fair value of 25p/share – twice the current share price.

http://www.edisoninvestmentresearch.co.uk/researchreports/Silverdell040712update.pdf