Member Info for mulledwine

Full year highlights · Underlying operating profit up 9% to £8.1m · Gross Profit up 4% with gross margin up 1.8ppts to 30.2% · Underlying diluted EPS up 7% · Free cash flow (2) up 98% to £10.5m, being 130% of underlying operating profit · Full year dividend increased by 7% to 8.0p 3 year highlights(3) · Gross profit up 77% driven by gross margin up 3.7ppts · Underlying operating margin up 3.0ppts to 3.1% · Underlying diluted EPS up 23.7p to 19.9p · Working capital ratio to sales reduced by 23% · Free cash flow (2) generated of £22.4m · Dividend increased by 14% · 4 value enhancing acquisitions(4)

http://www.investegate.co.uk/Article.aspx?id=201205290700142699E

F&C Asset Management Buy 28-May-12 £34,644.90 Edward Bramson 48,727 @ 71.10p

Walter Brown, a Non-Executive Director of UK based gas & oil Forum Energy, has exercised one million shares in the company at 31p each. The £310,000 transaction took place on March 25th, the same day the company unveiled the findings of a report which shows an improvement in the previously known resources at its exploration license SC 72 in the Philippines, supporting the case to continue with the drilling programme. The company will now decide how to fund the programme, set to cost $75m. Given the company's 70% stake in the licence, it has a best estimate of 154m barrels of oil and liquids and 6,159bn cubic feet of gas.

Shares of specialist foils and packaging materials group API shot ahead as it unveiled a massive rise in annual profit and a substantially strengthened balance sheet. Pre-tax profit jumped by 77% to £5.1m for the year ended 31 March 2012 while revenues grew 14% to £113.9m. Operating profits for the period advanced by 32% to £6.9m. Chairman Richard Wright said he was pleased with the results, in spite of the challenging economic conditions and pressures from higher raw material costs. "A second year of strong cash flow has transformed the group's balance sheet. With a robust pipeline of growth projects and management focus on improving the profitability of the European foils business, the board is confident of making further progress in the current financial year," he said. Laminates remained the biggest contributor to the full year results, and "cemented a cracking year the year before," Finance Director Chris Smith said. Holographics performed particularly well following growth in target security markets. Foils Americas benefited from an improved sales mix and lower costs.

bing - at these levels I do think this is a good buy - have a look at the edison research note - once the markets sort themselves out ( and that could be a while ) then ALD show be able to flourish -

http://www.edisoninvestmentresearch.co.uk/researchreports/allied290512update.pdf

Shore Capital initiated coverage on cloud computing services company Iomart Group (IOM) with a "buy" stance and 165p price target, arguing that the firm's 9.5 times EV/EBITDA multiple, which is a discount of 22% to its managed hosting peers, is undeserved. The broker added that strong structural drivers have allowed the company to deliver double digit growth over the past three years, and with data centre utilisation of circa 45%, there is plenty of room to support continued growth

Shore Capital downgraded its "buy" stance on Cape (CIU) to "hold", noting the recent one-off charge of 14 million pounds in relation to the Arzew contract in Algeria raises questions about board level supervision of material contracts. Although the shares fell significant last week on the news the latest development raises serious issues, and the broker believes it will take time to rebuild investor confidence in the industrial services company

Panmure Gordon reiterated its "buy" recommendation on Eurasian Natural Resources Corporation (ENRC), noting the mineral company's recent appointment of two new board directors should act as a catalyst for share price appreciation. Richard Burrows, chairman of British American Tobacco and Dr. Mohsen A Khalil, global head of climate business group at the World Bank should strengthen and increase the independence of the board the broker reports. Panmure also believes that institutions that are currently uninvested in ENRC on corporate governance grounds will now be obliged to reassess their position, which is a further reason to be bullish

Third quarter trading performance (ongoing businesses) During the quarter the Group generated revenue of £3,069 million, 4.7% ahead of last year and 3.8% ahead on a like-for-like basis. The impact of inflation on Group revenue was approximately 2%. The gross margin of 27.7% was unchanged, despite a continuing tough pricing environment. We have grown market share in key regions and continue to implement initiatives to hold or improve margins. Operating costs were 3.6% higher than last year including increases in employee share scheme expenses of £4 million and £2 million of one-off restructuring charges. Headcount continues to be tightly controlled, particularly where markets are deteriorating. In light of tough markets in Europe, as noted at the half year, the Group may incur further restructuring charges in the fourth quarter though these are unlikely to be material in the context of the Group's full year results. Trading profit of £139 million was £13 million or 10.3% higher than last year. The trading margin improved to 4.5% (2011: 4.3%). The number of trading days in the period was the same as last year.

Commenting on the trading outlook, Ian Meakins, Chief Executive said: "Wolseley has continued to make decent progress in the third quarter, with good growth in the USA and Canada partly offset by Europe. We held our gross margin overall and controlled costs to generate 10 per cent trading profit growth in the ongoing business. We will continue to pursue operating efficiencies and remain focused on customer service, gaining market share and protecting our gross margins. Given the uncertain economic outlook in Europe we will remain vigilant on the cost base while continuing to drive growth initiatives in the more robust markets."

Third quarter highlights (ongoing businesses) § Revenue increased by 4.7% and like-for-like growth was 3.8%. § Gross margin of 27.7% held at last year's level. § Operating costs were 3.6% higher than last year. § Trading profit of £139 million, 10.3% ahead of last year. § Net debt of £277 million, £314 million better than 30 April 2011. § Completed previously announced sale of Brossette and sold Bathstore for £15 million. § Two small bolt-on acquisitions completed in the third quarter in US and Denmark.

http://www.investegate.co.uk/Article.aspx?id=201205290700152701E

AVEVA, which makes design software for heavy engineering applications like power stations and oil and gas installations, trades on a pricey 23 times earnings ratio. But Tempus in the Times still likes the stock. As the column points out, it is the world leader in what it does and the commodities sector is booming, while some of geographies definitely need more power stations, think India and China. Europe and the UK is expected to be slow for predictable reasons but with nuclear demand picking up post Japan tsunami, Tempus says buy on weakness.

Entertainment One owns Peppa Pig, but the real reason to consider the stock, thinks Questor in the Telegraph, is the company’s content distribution deal with Amazon’s subsidiary LOVFiLM. There is a potential tie-up with Alliance Films on the horizon, although the funding looks tricky. But that doesn’t negate the value of the Amazon relationship. Buy, says Questor.

Current Trading The Group has had a slow start to 2012, however several big returning shows have been recommissioned and their income will be realised in the second half of the year. There is also a strong development pipeline and the directors expect this to further contribute to an improved second half of the year. The Group has also been focused on a rationalisation and restructure of the number of divisions and subsidiaries. Cash reserves remain tight, but the Group continues to generate cash from its activities and are confident that they will be able cover the operational costs. Going Concern On 28 November 2012, convertible debt, totalling £4.3m of principal loan and cumulative interest as at 31 December 2011, is due to become payable. Timeweave Plc acquired £3.1m of this convertible debt on 8 February 2012. Timeweave PLC converted £0.6m of the convertible debt on 18 April 2012 to acquire a 29.99% holding in the Company. The Directors have been, and continue to be, in discussions with the Directors of Timeweave to understand their intentions and are working with Timeweave on a proposal for Timeweave to reduce, or negate, the impact of the repayment of the convertible debt in November. There remains, however, a material uncertainty that the Company may not be able to repay in cash the convertible debt on 28 November 2012 as it arises, if discussions with Timeweave result in a withdrawal of their support.

David Green, Executive Chairman, commented: "Despite the continuing tough and challenging environment, the Group has delivered a steady set of results underpinned by an optimised operating structure and stronger financial footing that put us in a position to effectively take advantage of new opportunities on both sides of the Atlantic, grow the business and deliver long-term sustainable results for our shareholders."

Audited results for the year ended 31 December 2011 DCD Media, the independent TV production and distribution group, today reports results for the year ended 31 December 2011. Financial Summary (comparatives are eighteen months to 31 December 2010) Continuing operations: · Revenue £21.8m (2010: £32.4m) · Gross profit £7.0m (2010: £7.2m) · Operating loss £6.0m (2010: £10.1m) Discontinued operations: · Revenue £8.1m (2010: £15.9m) · Gross profit £1.1m (2010: £3.0m) · Operating loss £1.8m (2010: £1.1m) Group results: · Unadjusted Loss Before Tax £8.2m (2010: £8.4m) · Adjusted Profit Before Tax £0.1m (2010: £1.8m) · Adjusted EBITDA £0.6m (2010: £2.3m)

http://www.investegate.co.uk/Article.aspx?id=201205290700112685E