Member Info for mulledwine

Peter Cowgill, Executive Chairman, said: "During the period, we have invested significantly in brands, businesses and infrastructure to strengthen the platform for future development of the Group. Despite the continued difficult trading conditions across our markets, we are pleased to report some positive results within the Group, particularly from our mainland European businesses. "Whilst we expect some improvement in consumer confidence from the forthcoming international sporting events, we remain cautious. Trading in the early part of the current financial year has been satisfactory in the core UK and Ireland fascias with net like for like sales for the 9 weeks to 31 March 2012 of +1.2% (Sports Fascias +1.0%, Fashion Fascias +2.3%). Margins remain under pressure as consumers continue to be offer driven. "The Group is exceptionally well positioned with its retail proposition, financial resources and management experience to take advantage of any opportunities both in the UK and internationally. Whilst the Board recognises that current expansion activity is likely to impact returns in the short term, it remains confident that the Group is being positioned to deliver longer term earnings growth and increasing shareholder returns."

Pre-tax profits at JD Sports Fashion (JD.) fell by 14.2% over the year ended 28th January 2012, dented by a 2.2 million pound loss from the recently acquired outdoor equipment retailer Blacks Leisure. The period the firm continued the development of its centralised warehouse in Kingsway, which is scheduled to be fully operations in the summer and is expected to reduce transportation time and costs. The company also opened its first store in Spain and noted further plans for international expansion. The shares lost 8p to 791p.

Apologies re last post

http://www.investegate.co.uk/Article.aspx?id=201204120700131732B

Commenting on the Group's performance in the third quarter, Alistair Cox, Chief Executive, said: "We have made an encouraging start to the second half with good performances in many parts of the Group. In our International business, which now accounts for 70% of total net fees, growth accelerated to 18%*. 13 countries around the world grew by over 20%* and our market-leading German business was amongst 7 countries that delivered record performances. In the UK, markets remain difficult, especially in Banking and the public sector. Looking ahead, many parts of the Group continue to grow, but ongoing uncertainty about the global economic outlook means that our markets around the world remain complex and far from uniform. Against this backdrop, we will continue to invest selectively in growth areas whilst at the same time reacting to changing conditions in each of our countries and specialisms to maximise fees and profitability. Our unrivalled global footprint, sectoral diversification and market leadership in so many countries positions us well to capitalise on today's complex markets as well as the long-term opportunities for growth which remain undiminished."

Highlights · Good Group net fee growth of 10%* versus prior year · International business delivered strong growth of 18%* and represented 70% of net fees in the quarter · Strong growth of 26%* in Continental Europe & Rest of World, driven by continued excellent performance in Germany which grew by 36%* · Good growth of 9%* in Asia Pacific, with 9%* growth in Australia & New Zealand, and 5%* growth in the rest of Asia · Net fees decreased 5% in the UK & Ireland, with private sector declining 6%. Public sector net fees declined 2% · Based on the Group's year-to-date performance and our current view on outlook, we expect full year operating profit to be towards the top of the current range of market estimates

http://www.investegate.co.uk/Article.aspx?id=20120412070000PD087

Investment management firm Ashmore (ASHM) announced a 9.1% increase in assets under management during the quarter ended 31st March 2012 to 65.9 billion dollars (41.4 billion pounds), with 1.2 billion dollars (0.8 billion pounds) of net inflows. The firm also achieved a 4.3 billion dollar (2.7 billion pounds) appreciation in its investments, with a positive performance from all its asset classes and the group noted that it had increased its risk profile to take advantage of increased market volatility. The shares crept up by 3.4p to 389.4p.

http://www.investegate.co.uk/Article.aspx?id=201204120700131717B

Seymour Pierce kept its "buy" recommendation for Rambler Metals & Mining (RMM), with a 62p target price. The miner achieved an average throughput of 650 tonnes of gold ore per day to date at its Canadian operations and the broker noted higher than expected recovery rates of around 90%. The broker expects the final ounces of its gold-rich 1806 Zone ore to be processed by mid May, at which point the firm will switch to copper production. Seymour Pierce expects the company to start with 15,000 tonnes of low grade ore before using its higher grade material when the process is optimised. Rambler shares jumped by 3.25p to 37.75p.

Daniel Stewart maintained its "buy" rating for Porvair (PRV) with a target price of 159p. The air filtration company reported 15% year-on-year revenue growth in its metals business over the first four months of the financial year ending November 2012. As a result, the broker upgraded its full year growth target for the division to 10%, from 2%, and earnings target to 9.3p, from 9.1p. Shares in Porvair gained 3.5p to 118p.

Harold Mitchell, a senior board member of Aegis Group, the FTSE-250 media and digital communications group, has made a double sale of shares in the month following its better-than-expected full year results. Mitchell, who is the Executive Chairman of Aegis Media Pacific, sold 150,000 shares at 5.5p each on April 10th, six days after he sold 400,000 shares for the same price. Together, the sales earned the director £990,365. Mitchell's sale made the most of the boost to the group's share price, which is up over 36% since the same date a year ago.

Trading Update The Board of GEM is today providing investors with a brief update following a recent internal review of the Company's plantations in Madagascar. Based on the internal review it is clear that, having planted very large areas of land, totalling 55,737 hectares, with Jatropha between 2007 and 2009, a lack of resources has resulted in significantly less success than had been hoped. Low intervention and maintenance following planting has resulted in a lower than anticipated number of plants reaching maturity and producing oil-bearing seeds. The Board has commissioned external agronomic consultants to conduct a full review of both the Company's plantations in Madagascar and to assess the potential of its land bank for other crops. The Board will provide a fuller market update when it has fully reviewed the report and had time to consider it. A key part of this external review is to assist the Company in determining a strategic plan to maximise the returns from its existing plantations, as well as how best to make use of the Company's significant presence in Madagascar for the production of other crops. The Board remain committed to generating the best economic return from its existing plantations, whilst generating revenue in the short term. The Company is also seeking to strengthen the Board through the appointment of an executive director with relevant experience and to build more of an in country presence.

http://www.investegate.co.uk/Article.aspx?id=201204121229292260B

Gulf of Mexico Oil Sheen Status Update The Hague, April 12 2012 Following reports of an oil sheen in the vicinity of the Mars and Ursa production area in the Gulf of Mexico yesterday, a thorough inspection to date of Shell assets reveals operations in the area are normal with no sign of leaks. We have also confirmed there are no well control issues associated with our drilling operations in the area. Shell is continuing to cooperate with federal regulators in their efforts to determine the cause and nature of the sheen, which is estimated to be 6 barrels. In addition, although we are confident at this time that the sheen did not originate from Shell operations, out of prudent caution we will continue to respond to the sheen. In that regard, the following actions have taken place:  Louisiana Responder, Oil Spill Response Vessel (OSRV) is on station and remains ready to respond  Over flights will continue as weather conditions permit  Shell has deployed two remote operating vehicles to inspect Shell and non-Shell infrastructure and search for potential naturally-occurring seeps in the area.

http://www.investegate.co.uk/Article.aspx?id=20120412151132P9C8D

Goldman Sachs downgrades African Barrick Gold from neutral to sell, target price cut from 570p to 380p

Espirito Santo downgrades Big Yellow Group from neutral to sell, target price 239p.

Citigroup downgrades United Utilities from buy to neutral, target price cut from 679p to 640p.

HSBC downgrades Halfords Group from overweight to neutral, target price cut from 365p to 325p