Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201205100700120062D

Nomura maintains reduce rating and 250p target.

Investec maintains buy rating and 303p target;

http://www.iii.co.uk/articles/35505/does-bskyb-still-have-potential

DAIRY FARM INTERNATIONAL HOLDINGS LIMITED Interim Management Statement 9th May 2012 - Dairy Farm International Holdings Limited has today issued an Interim Management Statement covering the period from 1st January to 8th May 2012, in accordance with the requirements of the Disclosure and Transparency Rules of the Financial Services Authority in the United Kingdom. Dairy Farm's major businesses performed well during the period under review, which included the important Chinese New Year sales period. Its Hong Kong operations maintained a strong performance overall, while steady progress was made in mainland China. In Taiwan, the supermarkets continued to improve, and IKEA achieved further profit growth. Restaurant associate, Maxim's, also produced a good result. While Dairy Farm's businesses in Malaysia faced increased competition, steady performances were seen in Singapore and its operations in Indonesia recorded higher profits. In March 2012, the Group completed the acquisition of a 70% equity interest in a company that operates six supermarkets under the Lucky brand in Cambodia. The Group also recently acquired a 50% equity interest in Rustan Supercenters, Inc. in the Philippines, which operates ten hypermarkets and 22 supermarkets. In addition, the Group has been awarded the franchise right to operate IKEA stores in Indonesia, and the first store is expected to open in 2014. The Group is trading ahead of the same period last year. The Group's financial position remains strong although net cash is lower than reported at the end of 2011 after the acquisitions in Cambodia and the Philippines during the period.

http://www.investegate.co.uk/Article.aspx?id=201205091231359791C

Alan Foy, Chief Executive Officer, commented: "We are absolutely delighted that these important clients have decided to partner with us to this extent. We concluded 2011 with a meter portfolio of 254,000. These contracts represent a substantial increase in our business and significantly increase our participation in the domestic meter business as well as reinforce our position in the I&C market. The ADM™ solution offers our customers a substantially cheaper meter reading alternative to the current manual read services."

Smart Metering Systems plc ("SMS") Significant New Contracts and First Sales for ADM The Board of Smart Metering Systems plc (AIM: SMS.L) is delighted to give the following update with respect to significant new contracts in the Domestic and Industrial and Commercial (I & C) markets which will have a major impact on the Company's meter asset portfolio over the next two to three years and includes the announcement of the first sales of the Company's advanced metering solution ADM™.

http://www.investegate.co.uk/Article.aspx?id=201205090700119263C

Mike Biggs, Chairman of Resolution Limited said: "The Board sees good progress on the delivery of the financial targets of the UK Life Project. The UK business is benefiting from the financial discipline brought to the acquired businesses."

First quarter 2012 Interim Management Statement Summary · UK Life Project is in value delivery phase with good progress on financial targets; · The Group has delivered improved new business results in the three month period to 31 March 2012, with value of new business ("VNB") increased to £35 million (31 March 2011: £19 million) and new business cash strain ("NBS") reduced to £67 million (31 March 2011: £105 million): - UK VNB increased to £22 million (31 March 2011: £6 million) reflecting the increasing proportion of new business on the target platforms and ongoing actions to generate operating cost synergies; - UK NBS of £33 million (31 March 2011: £69 million) has improved from 2011 reflecting ongoing delivery of cost synergies in addition to the recognition of negative reserves on protection business from the second quarter of 2011; - International new business results remain depressed in the current economic environment with VNB down slightly at £9 million (31 March 2011: £10 million). NBS is marginally down to £28 million (31 March 2011: £29 million) as the focus of the business moves towards new business with lower strain; - Lombard delivered a good quarterly performance in what remain challenging conditions with VNB of £4 million (31 March 2011: £3 million), driven by a 29% increase in new business volumes. Sales of £44 million on an annual premium equivalent ("APE") basis reflect an increased proportion of large cases in the period; · Run-rate synergies of £50 million achieved by 31 March 2012 progressing towards the £112 million run-rate target to be delivered by the end 2013, and £143 million run-rate synergies by the end of 2015; · Strong balance sheet maintained with an estimated Insurance Groups Capital Adequacy ("IGCA") surplus at the Friends Life group ("FLG") level of £1.9 billion (31 December 2011: £2.1 billion) reflecting the payment of a £250 million dividend up to Resolution Holdings (Guernsey) Limited in March 2012; · Group available shareholder cash ("ASC") totalled £841 million (31 December 2011: £853 million) before payment of dividend to Resolution Limited shareholders and scheduled DCN repayment of £60 million; and · Total sales (on an annualised premium equivalent basis) in the first quarter of 2012 totalled £292 million up 8% on the £270 million reported in the same quarter in 2011.

http://www.investegate.co.uk/Article.aspx?id=201205090700119260C

CONT The acquisition of Gresham Down LLP in January has supported our Commercial transaction business in Prime Central London, which has out-performed our expectations during the period and reduced the impact of relative weakness in commercial markets outside London. In Greater China, particularly in the established markets of Shanghai and Beijing, our commercial transaction advisory pipelines have continued to build strongly, supported by the attention of investors and developers progressively turning to office investment from residential assets. It is too early to call a recovery in Hong Kong, but the banking market has recommenced lending on commercial investment, albeit at relatively modest levels, and this bodes well for our performance in the second half of the year. Globally, our Consultancy and Property Management businesses have continued to deliver strong revenue and profit growth and Cordea Savills, the Group's fund management business, has performed as anticipated. The Group continues to manage a strong balance sheet. We continue to anticipate that our financial performance in 2012 will be weighted towards the second half of the year.

AGM Statement and Interim Management Statement Savills plc, the international real estate advisor, is today holding its Annual General Meeting (AGM) at 12 noon, 20 Grosvenor Hill, Berkeley Square, London W1K 3HQ and provides the following Interim Management Statement (IMS) for the period to 9 May 2012. During the first four months of the year Savills has traded overall in line with our expectations. The first quarter saw the anticipated slower markets in Asia, a robust performance from the UK Residential business and continued strengthening of our US pipeline. The UK Commercial business performed well, particularly in central London. The markets of Continental Europe continue to be weak and, against the backdrop of increasing political and economic uncertainty, transactions are taking longer to complete or being put on hold. London's attractions as an investment location remain firmly established. Fiscal changes announced in this year's budget had a short term effect on transaction volumes in the Prime Residential market in London, but they appear to have substantially recovered. Continued political and economic turbulence in many parts of the world has maintained investor interest in London's prime residential property. Outside London we have seen an increase in the volume of activity in the UK Country market both in terms of new stock and applicants. In the residential markets of Greater China and Singapore transaction volumes have been subdued, as anticipated, at this stage in the year.

http://www.investegate.co.uk/Article.aspx?id=201205091100019646C

Graham Stewart, Chief Executive of Faroe Petroleum, commented: "We are pleased to announce the spudding of this Halten Terrace exploration well which is in one of our core areas. The Cooper prospect offers significant resource potential and is in close proximity to a number of important discoveries made by the Company including Fogelberg (2009) and Maria (2010)." "We also look forward to the commencement of the Faroe-operated Clapton exploration well in the Norwegian North Sea (Faroe 40% and operator), whilst drilling operations continue on the West of Shetland North Uist exploration well (Faroe 6.3%)."

Norwegian Sea Cooper exploration well commences Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, is pleased to announce that drilling has commenced on the Cooper prospect in the Norwegian Sea (Faroe 30%). The exploration well will target the Cooper prospect located in PL477 in block 6506/11 on the Halten Terrace between the Smørbukk oil field, immediately to the east, and the Morvin oil field, to the west. Cooper consists of an untested north to south trending fault block. The main reservoir objectives are the prolific Middle Jurassic Garn and Ile formations, which are the main producing reservoirs in the neighbouring Smørbukk and Morvin fields. The drilling operation will be operated by Centrica Resources (Norge) AS (40%) using the West Alpha drilling rig. The other joint venture partner is Suncor Energy Norge AS (30%).

http://www.investegate.co.uk/Article.aspx?id=201205090816029555C

Tempus is slightly more cautious on the immensely successful TeleCity which dropped 4.7% yesterday, mainly on currency issues as much of its revenues come in euros and Swedish Krona (both falling against the pound). But TeleCity, thinks Tempus, has a solid business model: get money from selling capacity at its datacentres, then build more datacentres. With growth available in underdeveloped markets like Turkey, this is a “strong long-term hold” - although just worth mentioning that the shares are trading at 27 times forward earnings, so not quite a buy.

Tempus in the Times likes Morgan Crucible, the engineering company with fingers in rather a lot of pies. It supplies military vehicles, makes insulation products for solar energy and produces crucibles for the manufacture of non-ferrous metals. Yesterday the stock sank like a stone (down 10%) and rather refreshingly Tempus says he has no idea why. But the shares now trade at just ten times 2012 earnings and with a pickup expected across several of its markets, Morgan Crucible is a buy.