Member Info for mulledwine

Balance Sheet Cash has been used during the period to complete the payments of deferred consideration in relation to the Mectec, Easyprint and APS acquisitions made in early years. Net cash at the end of February 2012 was £25.3 million. Outlook We remain cautious about market conditions and we continue to manage the business accordingly including maintaining a very careful control over costs. Group headcount has remained static over the period of this statement; however, we are maintaining our commitment to research and development and expect further new product releases over the course of the year. In the short term we do not expect that sales will continue at levels below last year, but given ongoing uncertainty in market conditions we consider it unlikely that we will see sales growth for the year as a whole. We see good opportunities for growth in the medium term, assisted by legislation and supported by our excellent product range and strong global network. We are pleased with progress at TEN Media. We remain confident in the long term prospects of the Group.

New Products Our range of new products continue to perform well, in particular the strong growth trends reported in 2011 in the sale of Thermal Transfer and Print and Apply Labelling printers has continued. Our new Digital Press product has been well received by the market and sales in the first four months of the year of the monochrome version have met our expectations. Our full colour press is presently undergoing field trials and we expect to launch that product at the end of this year. Both products will be on display at the major DRUPA exhibition in Düsseldorf in May. Ten Media Progress by our US based partner TEN Media during the period has been positive, with the signing of both retailer and egg producer contracts incorporating requirements for coding equipment as a part of their freshness and traceability system. The development of our coding solutions is progressing well, and we still expect first installations during 2012 and strong revenues thereafter.

Performance In our 2011 Preliminary Statement we reported that during the period from May to October 2011, the second half of our prior financial year, the uncertainty around Europe's financial strength and stability was impacting business confidence levels around the world and that we had experienced a slowdown in the rate of order conversion on capital equipment projects. These conditions have continued during the first four months of our new financial year. Interest in our product range remains strong and sales project activity is at normal levels in most parts of the Group. However, the external conditions have led to extended sales cycles and deferrals in decision making as customers remain cautious about investment commitments. This lack of confidence is most notable in Europe but we have also experienced a slower start to the year than expected in China where the level of larger projects, which have driven growth in the past, is running below that of last year. In addition, sales in the Middle East have been impacted adversely by the events across the region. Order intake rates for new equipment have been below the prior year during this period. There is no indication at present that the manufacturing output of our customers is slowing and our after market revenues remain as expected. Total sales revenues for the first four months of the year were six per cent below the corresponding period last year; movements in foreign exchange had no impact. In 2011 sales in the first quarter benefited from a strong opening order book and more buoyant market conditions.

http://www.investegate.co.uk/Article.aspx?id=201203151100014085Z

Shire's Specialty Pharmaceuticals Senior Vice President, Hematology, Ross Murdoch says: "There remains a significant unmet need for a once-a-day, oral iron chelator in a convenient dosage form for the treatment of transfusional iron overload with a better safety profile than currently available treatments(2). We believe FBS0701 has the potential to meet that need. We hope to use our expertise in hematology coupled with our proven ability to progress products through the development pipeline to bring FBS0701 to the global marketplace. This acquisition marks an important step for Shire in building a business that serves the growing needs of specialty hematologists and their patients." FerroKin BioSciences' key employees, including Founder and CEO, Dr. Hugh Young Rienhoff, Jr. will provide consulting services to Shire during the transition period. "An important factor for FerroKin BioSciences in agreeing to this transaction was Shire's drive, capability and vision to bring new products to the hematology market that promise to raise the standard of care for patients. In Shire's hands, FBS0701 has greater potential to fulfill that promise," said Dr. Rienhoff. The closing of the acquisition is subject to customary conditions, including (i) adoption of the Merger Agreement by a required proportion of FerroKin's equityholders; (ii) holders of no more than 2% of FerroKin's capital stock having exercised or being entitled to exercise appraisal rights under Delaware law and (iii) the absence of a material adverse effect on FerroKin BioSciences

Shire to acquire FerroKin BioSciences, Inc., and its Phase 2 iron chelator treatment Dublin, Ireland - March 15, 2012 - Shire plc (LSE: SHP, NASDAQ: SHPGY), the global specialty biopharmaceutical company, announces that it has signed an agreement to acquire FerroKin BioSciences, Inc., for an upfront payment of $100 million, payable in cash at closing, plus potential post-closing milestone payments of up to $225 million, depending upon the achievement of certain clinical development, regulatory and net sales targets. * A strategic step in building Shire's hematology business (which already includes Xagrid and a growing development pipeline) * Adds a differentiated product in development (iron chelator FBS0701), with global rights, in a global market currently worth over $900 million and growing(1) * Serves chronic patient need for treatment of iron overload following numerous blood transfusions. Excess iron in vital organs such as the liver and heart increases the risk of organ failure and is the principal cause of death in transfusion-dependent patients(2) * Consistent with Shire strategy of developing and commercializing differentiated specialist products prescribed by specialist physicians (hematologists/ hematologist-oncologists) served by a small sales force * FBS0701 will be developed to demonstrate clinical efficacy and an attractive safety profile relative to currently approved chelating agents: * Global filing planned for indications for Myelodysplastic Syndrome and hemoglobinopathies initially * Phase 2 studies underway with additional trials planned * Potential launch as early as 2016

http://www.investegate.co.uk/Article.aspx?id=20120315110000P8CF5

CABLE & WIRELESS COMMUNICATIONS DIVESTS FIJI JOINT-VENTURE Cable & Wireless Communications (CWC) announces today that it has completed the sale of its 49% shareholding in Fiji International Telecoms Limited (Fintel) to Amalgamated Telecoms Holdings Limited (ATH) for a total cash consideration of approximately US$10.6 million. The divestment is consistent with CWC's strategy to reshape its portfolio and develop the business around full-service telecommunications operations in a series of core regional hubs. Fintel provides international telecommunications services to Fiji, as well as wireless broadband and internet service provider services. The remaining 51% of shares in Fintel are owned by the Government of the Republic of Fiji and managed on its behalf by ATH. ATH is involved in the provision of a wide range of telecommunication services in Fiji through its wholly owned subsidiaries Telecom Fiji Limited and Fiji Directories Limited and its 51% shareholding in Vodafone Fiji Limited. The principal activities of the ATH Group are providing telecommunication services, compilation and publishing of the Fiji telephone directory and the operations of mobile telecommunications networks.

http://www.investegate.co.uk/Article.aspx?id=201203150952134096Z

Argos Total sales at Argos declined by 7.7% to £480m in the period. Net new space contributed 0.8%; one new store opened and 12 stores closed reducing the store portfolio to 748. Like-for-like sales declined by 8.5% in the period, principally driven by the continued weakness in the consumer electronics market. Total internet sales grew slightly with internet penetration remaining strong at 40% of Argos' total sales, up from 36% a year ago. The gross margin rate was flat. Homebase Total sales at Homebase declined by 6.2% to £195m in the period. Net new space contributed 0.3%; there was one store closure reducing the store portfolio to 341. Like-for-like sales declined by 6.5% in the period, principally driven by the continued weakness in big ticket sales. The approximate 175 basis point gross margin improvement was driven mainly by stock management benefits. Other The Group's net cash position at 25 February 2012 is expected to be approximately £180m following a cash outflow for the 52-week period ended 25 February 2012 of approximately £80m. As stated above, the financial year just ended requires the Group to report on a statutory 53-week period basis. The 53rd week to 3 March 2012, is expected to contribute approximately £15m of additional benchmark profit before tax and approximately £15m of additional cash. Both these amounts are in addition to the 52-week period financial performance referred to above and therefore, the Group's net cash position at 3 March 2012 is expected to be approximately £195m.

Terry Duddy, Chief Executive of Home Retail Group, commented: "With trends in this short, low volume, trading period being broadly as we anticipated, Group benchmark profit before tax for the 52-week period ended 25 February 2012 is expected to be in-line with current market expectations. Whilst we begin the new financial year in good operational shape, we will continue to manage robustly both the cost base and the cash position of the Group, while prioritising investment in the ongoing development of our multi-channel capabilities."

http://www.investegate.co.uk/Article.aspx?id=201203150700153813Z

Soco international, the oil explorer, may make $200m selling its interest in a big find in Vietnam. It also has some interesting plays in the Democratic Republic of Congo. Shares have gained nearly 19% in the last three months and with the company still in the process of proving the scale of its Vietnamese field, Tempus suggests holding.

Tempus, in the Times, takes a bite of Greggs, the high street baker and hot food supplier. Like-for-like sales dropped 1.8% in the first 10 weeks of the year, a result of lower retail activity. Tempus notes that several analysts are downgrading the stock, which has gained 17% in the last six months, but still feels there is long term value in sausage rolls. Buy, if you can stick it out for the long term.

Thursday tips round up: Yule Catto, Questor in the Telegraph is sticking by his recommendation for polymer maker Yule Catto. The Harlow based firm saw underlying profits rocket 99% last year, resulting in a 10% jump in the share price yesterday. The firm already makes 40% of revenues from emerging markets but intends to grow this over the coming years. Trading at just 10 times 2012 forecast revenues, Questor says buy.

She has had a hell of a run from 120 but historically this level is where she falls back - will watch and see

Geraint Anderson, Group Chief Executive, said today: "We made further progress in 2011, improving operating margins and ending the year with net cash of £15.2 million. We increased our focus on our electronics businesses with the successful sale of the last business in the General Industrial division. The Group is well positioned to create value for all stakeholders by delivering innovative technology solutions focused on markets with strong underlying growth drivers where the deployment of electronics is being driven by increasing demands in terms of performance and reliability."

· Significant improvement in operating performance reflecting continuing realignment to higher growth markets. · Further progress in operating profit margins. · Strong operating cash generation and proceeds from disposals, resulting in closing net cash of £15.2 million (2010: net debt of £9.9 million). · Significant improvements in the Group's competitive position, with growth in key customer accounts and sharper focus on product management and innovation. · Major programmes being implemented to reduce the cost base and align the Group's global manufacturing footprint with key growth markets.

Dave Raywood, happli's Managing Director, said: "We have listened carefully to customers and retailers and have developed a unique proposition, which we believe is clearly differentiated and with a customer experience that is second to none. "We are working with retailers to really understand their objectives and build winning deals that will offer real value to customers. "Daily Deals are an increasingly important part of the marketing mix for SMEs and our deal partners will be working with them to craft promotional offers that showcase what they have to offer, delight consumers who buy them and work with the retailer to drive repeat visits and sales." The launch is being supported by a heavyweight advertising campaign across Trinity Mirror's full portfolio, including full page ads in the Daily Mirror, Daily Record and relevant regional titles. Dedicated online search, affiliate and social marketing activity will communicate the benefits of the service under the tagline "Live life. Live happli." Chris Ellis, Managing Director, Trinity Mirror Digital, said: "Launching new nationwide digital brands and diversifying revenue streams is an important part of our digital growth strategy. "happli is a new social commerce platform which delivers on both a local and national level. We are launching a well-thought-out proposition that works for consumers and retailers alike. We'll be leveraging Trinity Mirror's existing portfolio and customer relationships, as well as building new digital marketing capabilities and ultimately opening up direct-to-consumer sales on a large scale." ENDS

TRINITY MIRROR TO LAUNCH DAILY DEALS BUSINESS Trinity Mirror is launching "happli", a nationwide daily deals business, focused on attracting and retaining loyal, long-term customers for retailers. The launch is supported by a £10 million investment over the next two years with the business forecast to deliver net revenues of around £20 million by 2014. The deals business represents a good strategic fit for the Group, focusing on delivering simple, high value, local and national deals directly to customers. The sector is an increasingly important area in selling marketing solutions to small and medium size enterprises (SME). Strengthening our relationships with SME advertisers through the provision of a diversified range of digital products and services is a core strategic imperative for Trinity Mirror. There are significant opportunities to drive new revenues from this market which was estimated to be valued at circa £100 million in 2011 and is forecast to rise to over £1 billion by 2016. By leveraging the strengths of the Group's full portfolio, local infrastructure and existing national and local customer relationships, as well as building a dedicated expert team to develop the business, Trinity Mirror is well placed to succeed in this area. happli has already been successfully piloted in Manchester and Newcastle and from today the business is being launched nationwide with nationally available deals and is being rolled out locally in a further three cities - Liverpool, Glasgow and Edinburgh. By the end of the year happli will have been rolled out to a further 20 cities. By early 2014 local deals will be available in over 50 cities. The web and mobile site - www.happli.co.uk - will showcase a daily selection of handpicked great value deals and experiences. Customers will be encouraged to check prices, read reviews and share recommendations with friends via Facebook. An experienced digital management team - led by Managing Director, Dave Raywood - is already in place and will report to Chris Ellis, Managing Director, Trinity Mirror Digital.