Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201202290800063477Y

Trading outlook The outlook for 2012 is subject to a number of uncertainties: · Demand in London remains strong, with the encouraging trends we saw in H2 2011 in our longhaul premium cabins, particularly on North Atlantic routes, continuing. · Ongoing developments in the Eurozone will be a major factor in our underlying demand growth, especially for our Spanish network. · At the current oil price and euro/US dollar exchange rates, we would face a fuel cost increase this year of over €1 billion. The year-over-year impact would be particularly severe in Q1 and Q2, but less severe in H2. · We remain focused on maximising profits through efficiency improvements, and the launch of Iberia Express is a significant step in that direction. As a result, we are facing continuing industrial action from Iberia's pilots, with a negative impact of around €3 million per strike day. We are fully committed to the project, and believe its benefits will far outweigh the costs. · British Airways traffic this summer may be impacted by the Olympic games. While the Olympics will be positive for the long-term position of London as a global destination, past experience in other host cities suggests that demand could be dampened during the games. Higher fuel costs, weaker European markets and labour unrest will imply, for the first part of the year, a reduction in operating results when compared with the first half of last year. We expect the year-over-year cost pressures to reduce as we move through the second half of the year.

Willie Walsh, IAG chief executive, said: "We're reporting a strong full year performance with total revenue up 10.4 per cent, boosted by unit revenue improvements with good premium traffic growth. Operating profit has more than doubled to €485 million. While there is disruption in the base figures, capacity this year was up 7.1 per cent but we remained focused on expanding profitably. This is reflected in the 3.6 per cent increase in passenger unit revenue and 5.6 per cent reduction in non-fuel unit costs. Fuel costs, however, remain a significant issue, up 29.7 per cent with fuel unit costs up 21.4 per cent. "Our performance has also been boosted by net cost and revenue synergies of €74 million, €64 million more than target, in our first year since the merger. "In the quarter, revenue was up 6.9 per cent however the impact of fuel costs was even more severe, up 33.3 per cent, due to higher prices and the reduced impact of hedging. Despite this, we reported an improved operating profit of €34 million. "The performance of our airlines reflects the different markets in which they operate. The north Atlantic market remains strong, benefitting British Airways. However, British aviation's competiveness is undermined by the UK government's determination to continually increase Air Passenger Duty with the latest rise due this April. In 2011 British Airways paid almost £500 million in APD. As a result of the latest increase, the airline is reducing by around half the number of new jobs it's creating this year and has postponed plans to bring an extra Boeing 747 back into service. "Iberia's challenge is its exposure to financial uncertainty in the Eurozone in a highly competitive marketplace with no-frills airlines, high speed rail and growing competition from more efficient longhaul airlines. Its management has been focused in addressing this, however, the challenge remains for Iberia to become more competitive especially as it has a high cost base and outdated workplace practices. The launch of Iberia Express in late March, alongside the restructuring of its network and hub, will enable Iberia to become more customer focused and cost effective. "In December, we signed a binding agreement with Lufthansa to buy bmi. While subject to regulatory approval, we plan to integrate bmi mainline into British Airways following agreement by BA pilots to make productivity changes that justify the integration. This deal gives us the ability to grow at Heathrow by launching new longhaul routes to growth economies and supporting our shorthaul network. We have already committed to continue flights from Heathrow to Belfast and will increase services to Scotland. Without this deal, links to the UK regions would not be safeguarded".

FULL YEAR RESULTS ANNOUNCEMENT International Airlines Group today (February 29, 2012) presented Group consolidated results for the year ended December 31, 2011. In addition, IAG presented combined results for the year ended December 31, 2011 including Iberia's first 21 days of January. IAG period highlights on combined results: · Fourth quarter operating profit of €34 million, before exceptional items (2010: €6 million) · Operating profit for the year to December 31, 2011 of €485 million, before exceptional items (2010: €225 million) · Profit before tax for the year of €503 million after exceptional items (2010: €84 million) · Revenue for the year up 10.4 per cent to €16,339 million (2010: €14,798 million), including €317 million or 2.1 per cent of adverse currency impact · Passenger unit revenue for the year up 3.6 per cent (5.8 per cent at constant currency), on top of capacity increases of 7.1 per cent · Fuel costs for the year up 29.7 per cent to €5,068 million, before exceptional items (2010: €3,907 million), fuel unit costs were up 21.4 per cent · Other operating costs up 1.1 per cent at €10,786 million, before exceptional items, including €165 million or 1.5 per cent of favourable currency impact. Non-fuel unit costs down 5.6 per cent, or 4.1 per cent at constant currency · Cash down €617 million for the year to €3,735 million · Group net debt up €253 million in the year to €1,148 million

http://www.investegate.co.uk/Article.aspx?id=201202290701053284Y

Completion of Acquisition of WADI Properties Limited Stobart Group Limited ("Stobart" or the "Group") is pleased to announce that the acquisition of WADI Properties Limited ("WADI Properties" or the "Company") has last night completed. Accordingly, the Group announces that it has made application for the admission to trading of 5,399,742 new Ordinary Shares. This satisfies £6.70 million of the £7.20 million Consideration Shares to be issued to WADI Properties, as described in the Circular, with the remaining £0.50 million being held back pending resolution of the completion accounts mechanism, which is summarised in the Circular. The number of Consideration Shares to be issued is based on the average middle market closing price for a Stobart ordinary share on the five business days prior to Completion. The new Ordinary Shares rank pari passu with the existing Ordinary Shares of 10p in all respects. It is anticipated that trading in the shares will commence on the Main Market of the London Stock Exchange on 02 March 2012. Following Admission of the new Ordinary Shares, the Group's share capital will consist of 353,960,872 ordinary shares of 10p each with voting rights. The above figure (353,960,872) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, Stobart under the FSA's Disclosure and Transparency Rules.

http://www.investegate.co.uk/Article.aspx?id=201202290738033473Y

Outlook Following a strong end to 2011, we expect passenger revenue to continue to grow in each of our bus and coach divisions. In 2012, as austerity measures, fuel and fare increases make passenger travel by other modes relatively more expensive, National Express provides attractive, value for money alternatives. We believe that our portfolio of businesses will provide sustainable earnings growth, continued cash generation and exciting opportunities for growth in selected markets in the medium term.

Commenting on the results, Dean Finch, National Express Group Chief Executive, said: "In just two years National Express has moved from reporting losses to the record profits we have announced today. We carried more passengers than in 2010 and are now the best performing operator in many of our markets. While our customers are increasingly cost conscious in these challenging economic times, we are focused on delivering excellent services at good value. We are determined to maintain this momentum in 2012. I believe our portfolio of businesses and track record of success mean we are also well placed to do this and target emerging growth opportunities."

Full Year Results for the year ended 31 December 2011 With a record financial performance in 2011, we are now delivering industry-leading performance in most of our markets and are well positioned to exploit emerging growth opportunities. • Record statutory profit before tax and amortisation of £180.2 million (2010: £97.3m) • Revenue growth of 5.3% to £2,238.0 million (2010: £2,125.9m) • Operating profit1 increased by 10.3% to £225.2 million (2010: £204.2m) • Revenue and profit growth in every division. Record profits in our UK Coach business of £34.9 million • Industry leading operating margins in Spain, North America, UK Coach and Rail - North America achieved 10% margin; Group margin has almost doubled since 2009 • Passenger journeys rose by 5.4 million journeys to 656.6 million • Strong balance sheet with long-term funding maturity. Gearing ratio further improved to 1.9x (2010: 2.1x) • Basic EPS increased 14.4% to 27.0p (2010: 23.6p); 20.3p delivered from non-rail earnings (2010: 17.9p) • Final dividend increased 8.3% to 6.5p

http://www.investegate.co.uk/Article.aspx?id=201202290700293282Y

Questor, in the Telegraph, continues to bang the drum for its tip of the year, Petra Diamonds, which claims it will hit production of 2m carats by the end of its full year. With no new diamond resources having been found since the early 90s Questor thinks the business case for Petra is very strong. The company trades at 18.3 times 2012 earnings but that falls to 9.4 times next year. Buy.

Tempus also computes the numbers on chip component maker AZ Electronic Materials which dropped yesterday following news of a customer bankruptcy.The shares sit at around 13 times 2012 earnings, not bad for the industry but leave for now says Tempus.

Elementis, the chemicals company with a niche hectorite mine in California, released strong full year figures yesterday and currently stands at around ten times earnings. With lots of money in the bank Tempus thinks the stock could be a speculative cash play.

Tempus in the Times takes off with aerospace and automobile engineering firm GKN. It announced a decent full year result for its automotive division yesterday and may bid for Volvo’s aerospace components business. With a share price of just nine times forward earnings Tempus thinks there may be value for patient investors. Buy.

Proximagen's Chief Executive Officer, Kenneth Mulvany, said: "We are excited to have started dosing this novel drug in its first clinical trial. We believe that the drug will offer a highly effective oral alternative to existing injectable therapies for patients suffering from rheumatoid arthritis, a debilitating and highly prevalent disease. This study initiation marks another significant achievement for Proximagen as we continue to advance our broad pipeline." Professor Chris Buckley, Arthritis Research Campaign Chair of Rheumatology at the University of Birmingham, said: "Rheumatoid arthritis is an important chronic immune mediated inflammatory disease. I am pleased to see Proximagen's VAP-1 antagonist entering the clinic and look forward to seeing the data which will hopefully provide new and orally effective treatments for patients suffering from this disorder."

London, UK, 29 February 2012 - Proximagen Group plc (AIM: PRX), the rapidly growing company with a focus on the treatment of disorders of the central nervous system (CNS) and inflammatory diseases, announces that it had commenced dosing in a Phase I clinical trial of PRX167700, a Vascular Adhesion Protein-1 (VAP-1) antagonist, for the treatment of inflammation in rheumatoid arthritis (RA) and psoriasis. Rheumatoid arthritis is a chronic, progressive and disabling auto-immune disease, currently affecting approximately 1% of the world's population. According to Datamonitor estimates, annual sales of RA treatments in the seven major markets will be $15bn in 2012, rising to $18bn by 2016. Current treatments typically include monoclonal antibodies that are injected under the skin, as well as oral steroids and methotrexate. Each of these current therapies is associated with serious unwanted side effects and approximately 30% of patients fail to respond to treatment. Proximagen's PRX167700 is an oral drug candidate that is expected to work by regulating the movement of immune cells from the blood into sites of inflammation, thereby modulating the underlying inflammatory process and relieving the symptoms of inflammation. This mode of action provides the potential for a disease modifying effect, whereby modulating the movement of the damaging immune cells to the sites of inflammation also stops further damage caused by the disease. In addition to efficacy shown in models of RA, PRX167700 has demonstrated efficacy in models of multiple sclerosis and inflammatory pain. Regulating the movement of immune cells is also important in these two diseases, indicating that PRX167700 has potential utility in multiple disease areas of high unmet medical need. This Phase I trial is a randomised, double-blind, placebo-controlled study to assess the safety, tolerability and pharmacokinetics of single and multiple ascending oral doses of PRX167700 in healthy male subjects, and the effect of food on the pharmacokinetics of a single oral dose of the drug. The study will also investigate the relationship between the pharmacokinetic and pharmacodynamic effects of single and multiple ascending oral doses of PRX167700. The first results are anticipated in H2 2012. PRX167700 was developed by Proximagen following the acquisition of Cambridge Biotechnology Limited in late 2009. In addition to PRX167700, Proximagen has two clinical stage CNS compounds in development for epilepsy and a pipeline of other clinical and preclinical assets in the fields of CNS, inflammation and oncology.

http://www.investegate.co.uk/Article.aspx?id=201202290700343269Y

and another - a bit of jiggling going on Discovery Metals Ltd. (CDI) Sell 24-Feb-12 £526,705.75 Stuart Bradley (Brad) Sampson 500,000 @ 105.34p

Discovery Metals Ltd. (CDI) Sell 24-Feb-12 £289,688.16 Gordon Galt 275,000 @ 105.34p Discovery Metals Ltd. (CDI) Sell 24-Feb-12 £263,352.87 John Thomas Shaw 250,000 @ 105.34p