Member Info for mulledwine

Coverage Sportingbet, the online gaming company, lost money in the six months to 31 January 2012 as the euro crisis saw punters rein in their gambling. The group says its operating loss for the half-year was £5.2m against a profit of £18.2m in the equivalent period of 2010/11. Total wagers rose from £1,069m to £1,266m while net gaming revenue increased from £106.8m to £109.4m. The company’s second and third biggest markets are Greece and Spain, so no prizes then for guessing where some of the losses came from. The sale of the Turkish language site (which provided 29% of European and emerging market revenues) also dented the figures as the company sought to bring its operations into regulated markets.

CHAIRMANS STATEMENT The financial year to 31st August 2011 was the first year of the Group's operational activities and was a period in which the Group started to sell its products around the world. Distributorships were signed with distributors in the United Kingdom, Indonesia and Nigeria and the Group's LED lighting products, being the first market ready products produced by the Group, were installed in many locations around the world, including not only those countries in which we have distributorships but others in which we have established sales leads. The Group has continued to develop its two groups of technologies, energy generation technologies led by the group's eRoof system and energy saving, which is at present led by the groups eLumen LED lighting technologies. These technologies have been combined together in the Group's eLive housing which is now also being marketed around the world, but particularly to developing countries. Being the first year of commercial operations much time was spent by the Group and its distributors in testing, as LED lighting technologies are new to many potential purchasers, and this meant that orders expected to be placed during this period were delayed, the generally cautious global economic climate also acting to slow down orders. Despite the disappointing revenue figures for this period the group maintained its levels of expenditure, reducing overheads in some areas, although the adjustment for the non-cash item of options granted to staff in 2010 on the relisting of the Company pushed the overall loss for the year to a higher figure. The Group is now pushing hard to drive revenues from all of its product ranges with a view to enabling sales to grow substantially in 2012. During this financial period the Group continued to develop its intellectual property with more of its patents being granted, and the core team headed by Dr Eric Goh and Dr Tay Boon Hou have been steadfast in their hard work and commitment to success. During the past year I continued to support the Group by extending my interest free unsecured convertible loan from US$2 million to US$3 million of which approximately US$2.9 million was drawn in the period. I am continuing to support the Group but I am also exploring ways to bring further working capital into the Group in the coming months in order to enable the Group to achieve its full potential. Green energy remains a strong growth area in which the Group can play a part, despite the negative general global economic situation, and the Group's focus for 2012 will be on bringing all of its products to the market and thus achieving strong revenue growth built upon its years of technological development and experience. Christopher Nightingale

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=19921645

On 14 May 2011, the Company entered into a Convertible Loan Facility with Christopher Nightingale, the Executive Chairman of the Company, pursuant to which Christopher Nightingale granted an unsecured loan in the aggregate principal amount of US$2,000,000. This was increased on 25 February 2011 by an additional US$1,000,000 on the same terms. It has been agreed again today, that Christopher Nightingale will increase the amount of the unsecured loan by the amount of S$1,140,000 or US$1,000,000 on the same terms as above: for example the agreement shall terminate on 1 May 2013, or such other date as the parties may agree in writing and Christopher Nightingale has the right to convert any part of the of the Convertible Loan into Ordinary Shares of the Company at a price of US$0.03 per share. This brings the total amount provided to the Company under convertible loans from Christopher Nightingale to US$4,000,000; approximtaley US$2,900,000 has been drawn down by the Company. The purpose of the increase of the Convertible Loan Facility is for general working capital purposes. This increase is a "related party" transaction under the AIM Rules, and accordingly the independent directors (being all the directors with the exception of Christopher Nightingale) consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

http://www.investegate.co.uk/Article.aspx?id=201202291515534046Y

Thats better today

Ultra Electronics: UBS maintains sell rating but raises target from 1,250p to 1,350p.

http://www.iii.co.uk/articles/26806/merger-rumours-surround-new-world-resources?emv_mid=1110039242&emv_rid=1010949237484

CRH: UBS ups target from 1,150p to 1,300p, neutral rating kept.

Singer Capital initiated coverage of Trifast (TRI) with a "buy" recommendation and 52p target price. The nuts and bolts manufacturer is in the third phase of its recovery plan and the broker noted that it has already improved growth and profitability. Singer added that the firm has a low cost base due its manufacturing facilities being based in Asia. The broker forecasts revenues of 112.8 million pounds for the 2012 financial year with earnings of 3.6p putting the shares on a multiple of 11.7 times

Canaccord Genuity reiterated its "buy" recommendation for Babcock International (BAB), with an increased target price of 900p, from 840p. The broker cited a number of recent contract wins and said that the engineering group's order book could rise to 13 billion pounds in the near term. Canaccord believes that the company's core market is the UK defence services and added that any constitutional changes in Scotland could lead to significant work as the military would need to relocate its bases

Panmure Gordon maintained its "buy" recommendation for Berendsen (BRSN) with a raised target price of 582p, from 510p. The dry cleaner's full year results for 2011 beat the broker's forecasts as the firm gained exposure to the Nordic market. Panmure believes that the group's presence in strong economies will allow it to continue to grow despite the weak global economic outlook. The broker also pointed to the attractive dividend, which is expected to yield over 5%

WH Ireland initiated coverage of Cape (CIU) with a "buy" rating and target price of 515p. The broker believes the energy services company is well positioned to take advantage of growing world energy demand and added that the firm's key growth driver will be the Australian liquefied Natural Gas sector. The broker's forecasts put the shares on a prospective multiple of 9.5 times in 2012, falling to 8.1 times in 2013, which it noted is well below the peer group average.

Commenting on these results, the Chairman of Standard Chartered PLC, Sir John Peace, said: "Once again, our performance has shown that we are in the right markets, with the right strategy and have the right leadership in place to deliver consistent value for our shareholders. We have diversified sources of quality income growth throughout our Consumer and Wholesale Banking businesses and an obsessive focus on the basics of banking. We enter 2012 in great shape."

Reported results · Profit before taxation of $6,775 million, up 11 per cent (2010: $6,122 million) · Profit attributable to ordinary shareholders1 of $4,748 million, up 12 per cent (2010: $4,231million) · Operating income of $17,637 million, up 10 per cent (2010: $16,062 million) · Strong balance sheet growth. Customer advances up 9 per cent to $269 billion and customer deposits up 11 per cent to $352 billion

http://www.investegate.co.uk/Article.aspx?id=201202290700173420Y

Pre-close Trading Statement Following the acquisition of Nakama Limited by Nakama plc (formerly Highams Systems Services plc) in October of last year, the Board expect the Group to start the new financial year well placed for fast and profitable growth in its niche markets in Europe, Asia and Australia. The back office integration of the existing businesses will be completed shortly and the Group intends to expand its network of offices, and also develop its existing operations. Nakama will expand its coverage of the Asian markets immediately with a new office and will use the Group's existing infrastructure to grow Highams/Nakama. As part of this expansion strategy, the Group is: Ø Opening an office in Singapore to address the Digital/New Media sector in South East Asia Ø Opening an Executive Search operation targeted at senior management appointments in the Digital/New Media sector in the UK and Europe Ø Currently increasing headcount with a graduate scheme in London and Caterham The Board took the decision to absorb the costs of the deal instead of raising further funds at the time of the Nakama acquisition and also to take immediate action to invest in the growth of the business. In addition, whilst the numbers of permanent vacancies where the Group is instructed has shown a significant increase recently, candidates are showing greater caution in moving to new employers in the current environment. The costs of the recent investment in the business, combined with lower volumes than previously anticipated in permanent placements at the end of 2011 and the beginning of 2012, means that the outcome for the current financial year, whilst likely to show a substantial profit, is likely to fall significantly short of market expectations. Demand for staff in both the digital media sector and the IT for insurance sector have strengthened significantly since the beginning of February and contractor/temp numbers are rising steadily. Further locations are being considered in the Middle East and Asia. Consequently the Board believes that the prospects for the Group for the next financial year are encouraging.

http://www.investegate.co.uk/Article.aspx?id=201202290825193493Y

Sooo ..... British Airways and Iberia owner International Consolidated Airlines Group (IAG) reported a five-fold increase in pre-tax profit in the year ended December 31st. Pre-tax profit surged 499% from €84m to €503m, on revenues that grew 10.4% from €14,798 to €16,339m, despite a €317m adverse currency impact. The performance was boosted by net cost and revenue synergies worth €74m, €64m more than its target, in the first year since the merger.

Trading Update Waterlogic Plc (AIM: WTL.L), a leading manufacturer and global distributor of point-of-use ("POU") drinking water purification and dispensing systems, is pleased to announce a trading update for the period up to 31 December 2011 prior to entering a close period for its preliminary results. Waterlogic enjoyed a solid performance for the full year, delivering continued organic growth and achieving a positive impact from its acquisitions. Trading for the period was in line with expectations. Waterlogic entered 2012 with a strong net cash position allowing the Company to pursue its attractive acquisition pipeline with three transactions announced to date. The Company continues to commercialise its innovative Firewall™ UV technology and progress its further expansion into new markets. The Company intends to announce its preliminary results on 30 April 2012.