Member Info for mulledwine

Trading Update "Positive Trading continues following sale of High Street Retail Business in January; Additional £0.25 million deferred cash consideration now received giving total sale proceeds of £11.75 million; Group now debt-free with net cash; Increased Interim Dividend"

http://www.investegate.co.uk/Article.aspx?id=201204300700223151C

As part of its review of the utilities sector, Investec has downgraded its rating on water group Severn Trent from buy to hold and cut its target price from 1,718p to 1,664p. Investec says that the recent share price spike has been driven by bid speculation, something which it does not necessarily see as likely.

Exploration - On 11 January 2012 Auzex and GGG reported the completion of a Phase II infill drilling programme totalling 425 holes for 74,452 metres with approximately 99% of the drill holes intersecting gold mineralisation. This brings total development programme drilling to 110,544m in 672 holes since the acquisition of Bullabulling in May 2010. - In January 2012, Auzex , GGG and Bullabulling Gold announced they had entered into an option agreement to acquire a 100% interest in the Geko Gold Project, located approximately 17km north of the Bullabulling Gold Project. - Drill results from the Phase II drilling programme over the Bullabulling Trend were announced on 29 February 2012, which included new higher grade intersections such as: 8m at 5.7 g/t Au, 1m at 73.1 g/t Au, 17m at 3.4 g/t Au, 8m at 3.3 g/t Au, 1m at 27.7 g/t Au, 9m at 3.5 g/t Au and 1m at 19.3 g/t Au. - On 29 February 2012 an updated JORC estimate, based on Phase II infill drilling, was announced. The new JORC global estimate is 3.2 million ounces of gold (102.8 Mt at 0.96g/t Au) of which 2.1 million ounces is in the Indicated category. - Initial exploration drilling at Gibraltar totalling 2,805m in 14 holes has been completed. On 6 March 2012, the first assay results were announced, including new higher grade intersections of 13m at 2.87g/t Au, 7m at 3.12g/t Au, and 5m at 11.98g/t Au. The Gibraltar zone is not included in the 3.2 million ounces resource announced on 29 February 2012. - During the quarter, data has been received from the recently completed 2 D seismic survey that enhances the prospectivity of high grade mineralisation at depth along the Bullabulling Trend. Recent detailed airborne magnetic and gravity surveys will be combined with the seismic data to provide a 3D geological model of the Bullabulling gold deposit.

Post quarter end - Bullabulling Gold Limited Shares were issued to Auzex shareholders completing the final step in the merger between Bullabulling Gold and Auzex, and taking the number of Bullabulling Gold Limited Shares on issue to 289,002,949. - On 12 April the Company appointed Peter Mansell as its Chairman, and Nigel Clark resigned as a Director.. The Board of Bullabulling Gold Limited now comprises Brett Lambert (Managing Director), Peter Mansell (Chairman), Chris Baker, John Lawton and Jeff Malaihollo as the Non-Executive Directors, and David McArthur as an executive director.

CONT The final approval of the acquisition of GGG Resources plc by Bullabulling Gold Limited was granted by UK Court on 15 March 2012 and the shares of Bulabulling Gold (in the form of CDI's) were admitted for trading on AIM (BGL:AIM) on 16 March 2012 and on 23 March 2012 the shares of Bullabulling Gold were admitted for trading on ASX (BAB:ASX). - On 15 March 2012 the ratio for the acquisition of Auzex Resources Ltd by Bullabulling Gold Ltd was announced at 0.909 shares in Bullabulling Gold for every one share in Auzex Resources. - On 22 March 2012 the merger between GGG Resources plc and Auzex Resources Ltd was approved by Auzex shareholders and on 27 March 2012 the final approval by Australian Court was granted. - The merger between Bullabulling Gold Limited and Auzex by Scheme of Arrangement became effective on 28th March 2012. In accordance to the Merger Implementation Agreement, Peter Ruxton, Michael Short, Paul McGroary and Ciceron Angeles resigned as directors of the Company. Jeff Malaihollo, David McArthur and Nigel Clark continued as Directors of Bullabulling Gold Ltd. Chris Baker and John Lawton ( Directors of Auzex) were appointed to the board as Non-Executive directors. Chris Baker and Nigel Clark acted as Co-Chairmen of the Company until such time that a new Chairman was appointed, at which time Nigel Clark would resign from the Board and Chris Baker will continue as a Non-Executive Director. - On 30 March 2012, the Audited accounts of Bullabulling Gold Limited and GGG Resources plc for the period ending 31 December 2011 were published.

QUARTERLY ACTIVITIES REPORT FOR THE PERIOD ENDED 31 MARCH 2012 HIGHLIGHTS Corporate - Australian-registered Bullabulling Gold Limited is the successor company following the merger between Auzex Resources Limited ( Auzex) and GGG Resources plc (GGG). Both GGG and Auzex are now wholly owned subsidiaries of Bullabulling Gold Limited. The Company now has a 100% interest in the Bullabulling gold project located 65 kilometres south-west of Kalgoorlie in Western Australia. - Shareholders of GGG approved the acquisition of GGG by Bullabulling Gold Limited on 9 January 2012. - On 23 January 2012, 4,400,000 warrants in GGG were converted to shares at 12.6 pence each. These warrants were held by two institutional shareholders as part of the July 2010 financing of GGG The total number of Ordinary Shares on issue in GGG following this exercise was 170,680,298. The whole share capital of GGG was subsequently exchanged on a one-to-one basis with the shares of Bullabulling Gold Limited. - In March the Company announced the appointment of Brett Lambert as the new Managing Director of Company effective from 1 May 2012. Brett has held the position of Chief Executive Officer of three mining companies over a thirteen year period, and has been a director of companies listed on the Australian Securities Exchange, Toronto Stock Exchange and the Stock Exchange of Thailand. He is an Australian mining engineer and senior executive with over 30 years' experience in project development and the operation of resources companies, including several mines based in the Coolgardie region of Western Australia where the Bullabulling project is located.

http://www.investegate.co.uk/Article.aspx?id=20120430095813P3DC1

Trading Statement Creston plc ('Creston' or the 'Group') (LSE: CRE), the Insight and Communications Group, provides an update on trading for the year ended 31 March 2012 ahead of its preliminary results for the period. Further to the Group's Interim Management Statement announced on 27 January 2012, the Board confirms that Headline[1] PBIT[2] for the full year is expected to be in line with the guidance provided at that time. The Group expects to report full year revenue of £75 million, an increase of 11 per cent compared to the prior year, with like-for-like[3]revenue marginally ahead over the same period. The Group's most recent acquisition, The Corkery Group, is performing well. Following the lower sales levels previously reported, the Group has now completed the necessary actions to reduce its operating costs. Operating cash flow remains good and after funding the initial cash consideration of US$6.0 million (£3.8 million) for The Corkery Group acquisition and the cash charges for the restructuring, start-ups and acquisition related costs, the Group expects to be broadly debt free at the year-end and in a net cash position as at 27 April 2012, both ahead of expectations. Creston will announce its preliminary results for the year ended 31 March 2012 on Wednesday 13 June 2012.

http://www.investegate.co.uk/Article.aspx?id=201204300700172910C

Next Fifteen Communications BUY 26/04/2012 Ben Jaglom PR heavyweight Next Fifteen Communications (NFC) unveiled a 15% rise in pre-tax profits as its push into digital continued. The AIM-quoted outfit declared pre-tax profits of £4.25m (2011: £3.69m) on sales of £45.3m (2011: £40.8m) for the six months to January 2012. Earnings per share rose by 12% to 2.82p while net debt stood at £4.4m. The interim dividend climbed from 0.515p to 0.565p. It was a particularly strong period for its range of digital agencies, which saw sales power ahead by 39%, with the company boasting of a number of new clients such as music group EMI and coupon specialist Groupon. There was also a good showing from its 'corporate communications' sector, which saw its investor relations specialist Blueshirt win clients such as website aggregator Angie's List. Analysts at Canaccord Genuity are forecasting pre-tax profits of £9.7m (EPS: 9.9p) on sales of £92.3m for the year to July 2012. Last recommended by Growth Company Investor last January at 76.5p the shares currently trade at 96p. A company that has managed to buck the trend of disappointing media ventures on the junior market, its bold attempt to focus on the niche digital PR market has to date borne fruit. However, there is no dividend and an upwards ascent is far from inevitable in what is a highly fickle sector. We retain our existing rating for now. Buy.

http://www.growthcompany.co.uk/recommendations/2100343/next-fifteen-communications.thtml

Panmure Gordon retained its "buy" stance on Imperial Tobacco (IMT), with a target price of 2,900p. With the cigarette company noting improved volumes in the second quarter, the broker forecasts first half revenue growth of 3% to 3.9 billion pounds, although Panmure noted that volumes began to decline in Spain, over March. The broker will also be looking for news on the group's investment strategy in developing its key brands such as Davidoff and Rizla.

Current trading and Outlook Results for the year ended 31 January 2012 exceeded expectations largely as a result of the Group's broad portfolio of services and significant market share gains. However, in our trading update of the 17 February 2012, expectations for the current year ending 31 January 2013 were revised when we said the ongoing economic uncertainty in the Euro zone meant that our clients continue to exercise caution in relation to hiring permanent staff and that this had impacted demand for executive recruitment in the UK, the Nordics and mainland Europe. As our clients begin to focus increasingly on the Asia Pacific region, we will invest £0.75m in new offices in 2012 in Asia Pacific to meet growing demand in the region and to supplement our existing offices in Vietnam. Whilst the softening of permanent recruitment demand experienced in the fourth quarter has resulted in lower run rates into the first quarter of the current year, this now appears to have stabilised. The outlook for freelance contracting remains encouraging with little evidence of a slowdown. As a result, the Board is pleased to report that first quarter trading is on track to deliver in line with current expectations.

No movement in SP though - looks like the months ahead are obviously the worry

Commenting on the results, Albert Ellis, Chief Executive Officer, said: "I am delighted to announce another excellent set of financial results, which exceeded expectations. We are seeing the benefits of our focus both on high growth technology markets and on the robust economies of Northern Europe. We made significant market share gains which delivered an increase in operating profit of 19% in the UK despite the widely reported weakness in the recruitment market and a 59% increase in operating profit in Europe against a background of uncertainty over the Euro zone. All of this growth is organic. Clearly our unique portfolio of services and strong brand have given us a competitive advantage in challenging markets and we are looking forward to expanding our geographical footprint in Asia in the coming year."

Yes Nathan - looking good

Financial highlights · Organic growth in revenue of 26% · Operating profit up 41% · Profit before tax up 35% · Earnings per share up 36% · Strong operating cash inflow up 35% before investment working capital · 10% increase in final dividend, to 1.635p per share

Shore Capital reiterated its "buy" recommendation for Harvey Nash (HVN), ahead of the IT recruitment agency's full year results due on 30th April, noting that the group previously confirmed pre-tax profit growth of 31% to 8.2 million pounds. The broker said that demand for skilled workers in the digital and mobile sectors remained strong, although there was some weakness in the executive search markets in Europe. On Shore Capital's forecasts, the shares trade on an earnings multiple of 10 times for the 2013 financial year, and yield 4.8%

Meanwhile, Home Retail, owner of Argos and Homebase, will this week reveal a 60 per cent drop in profits to about £100m. Analysts have pushed for a restructuring but shareholders, including fund manager Schroders which owns a fifth of the shares, are broadly supportive of chief executive Terry Duddy’s strategy. Clive Black at stockbroker Shore Capital told Financial Mail he was concerned about Morrisons’ drop in market share. ‘Some people will question whether the pace of change is fast enough,’ he added, The Financial Mail on Sunday reports.