Member Info for mulledwine

BAE Systems agrees settlement with Government of Trinidad and Tobago 14 November 2012 Following the announcement on 21 September 2010 regarding the disputed Offshore Patrol Vessel contract with the Government of the Republic of Trinidad and Tobago (GORTT), BAE Systems and GORTT have reached agreement on a settlement. The three Offshore Patrol Vessels that were the subject of the GORTT contract were subsequently sold to the Brazilian Navy under a contract signed in December 2011 and the first ship was handed over to the Brazilian Navy in June this year. The settlement with GORTT is at an amount consistent with provisions held.

http://www.investegate.co.uk/bae-systems-plc-(ba.)/rns/re-contract/201211140700510737R/

Dustin Dryden, Chief Executive, Hangar 8, said: "The winners in this industry will be those operators that have substantial geographical breadth, product depth and operating scale in their business. I am delighted that Hangar8's scale change in the size of its operations over the past two years is now beginning to deliver real benefit to all of our stakeholders."

Trading update and notice of final results The Board of Hangar8 is pleased to announce that it has enjoyed a very strong start to the new financial year with earnings before interest, tax, depreciation and amortisation for the three months ended 30 September 2012 up 331 per cent to £461,000 (Q1 2011: £107,000). The Board continues to see a consistent level of growth in its business and anticipates that the results for the year ended 30 June 2013 will be materially above market expectations. The Board further announces that it will be releasing its final results for the year to 30 June 2012 on 28th November 2012.

http://www.investegate.co.uk/hangar-8-plc-(hgr8)/rns/trading-update-and-notice-of-results/201211140700350375R/

InterQuest Group plc ("InterQuest", "the Company" or "the Group") Directors' Dealings IT staffing specialist, InterQuest Group plc (AIM: ITQ.L), was notified on 13 November 2012 that on the same day Gary Ashworth, Executive Chairman, bought 10,000 Ordinary Shares of 1 pence each in the share capital of the Company ("Ordinary Shares"), at a price of 45.75 pence per Ordinary Share. Furthermore, on 13 November 2012, 573,120 Ordinary Shares were transferred from a nominee account to Mr Ashworth having been previously transferred from Mr Ashworth to the nominee account on 22 December 2009. Mr Ashworth was previously and remains beneficial owner of these shares. Following these transactions Gary Ashworth now holds 12,754,912 Ordinary Shares which represents 38.47% of the Company's total voting rights.

http://www.investegate.co.uk/interquest-group-plc-(itq)/rns/directors-dealing/201211140700340436R/

The UK Government may have to hand back as much as £5bn to £7bn in taxes to major UK-based companies after a European court found HM Revenue & Customs had breached EU rules. The judgment, handed down on Tuesday, threatens to open the floodgates for businesses to claim refunds that go back as far as 1973 and comes despite mounting public furore over tax avoidance by multinational companies. However, rather than seeing money returned, the ruling by the European Court of Justice means that HMRC now faces paying out billions of pounds to companies. British American Tobacco, along with other litigants thought to include BA’s pension fund scheme, have been fighting a class action lawsuit against HMRC both in the UK and in Europe since 2006. The claimants – which are headquartered in the UK – say they have been taxed unfairly by HMRC for decades, The Telegraph says

Interim Management Statement James Fisher and Sons Plc (FSJ.L) ('James Fisher'), the leading Marine Services Company, today announces its Interim Management Statement for the period from 1 July 2012 to date. The pattern of trading has continued from the first half with revenue for the third quarter 14% ahead of the previous year and results in line with management's expectations. The Company's focus on Asia Pacific and other developing regions and its strategy to leverage UK marine service skills overseas has helped to deliver strong growth in the first nine months of 2012. The Group's largest divisions, Specialist Technical and Offshore Oil have continued to perform well and the Group has invested further in new equipment to increase future organic growth. As previously signalled, our Defence business is experiencing a slower second half and will report a lower financial result in 2012. However this will be more than offset by growth in our other divisions. Marine Oil has continued the progress that it achieved in the first half. The Group remains cash generative and combined with support from our banks is able to take advantage of suitable bolt-on acquisition opportunities as they arise. Overall James Fisher's strategy to focus on the faster growing regions of the World and to have limited exposure to North America and Continental Europe is reflected in its strong trading performance. The Company remains well positioned to deliver further growth and value for our shareholders.

http://www.investegate.co.uk/fisher-(james)-(fsj)/rns/interim-management-statement/201211140700100381R/

The General Meeting has been convened for 7 December 2012 and the Company has been advised that, if approved by shareholders, court approval to the proposed capital reorganisation should be obtained by no later than 30 January 2013. The Company is also proposing the adoption of new Articles of Association primarily for the purpose of updating the Company's existing Articles of Association in line with the provisions implemented (including those relating to electronic communications between the Company and its Shareholders) by the Companies Act 2006 and an appropriate resolution is also included in the Notice convening the General Meeting. The Board considers the proposed reorganisation of share capital and adoption of the New Articles to be in the best interests of the Company and its Shareholders.

Capital Reorganisation Pittards, the specialist producer of technically advanced leather and luxury leather goods for sale to retailers, manufacturers and distributors, announces a proposed reorganisation of share capital designed to eliminate the accumulated deficit of reserves on the retained earnings account on the Company's balance sheet. This is being proposed in order to facilitate the payment of dividends which under company law can only be made from distributable reserves. The Company has convened a General Meeting for the purpose of approving the proposed capital reduction which will be effected by applying amounts standing to the credit of the Company's share premium account and capital redemption reserve in order to eliminate the accumulated trading losses. If approved by shareholders, the reduction in share capital will require to be confirmed by the courts. It is emphasised that no dividend or other distribution is currently being declared or recommended. This will be a matter for the directors to consider in due course in the light of the Company's trading and taking into account its working capital and capital expenditure requirements.

http://www.investegate.co.uk/pittards-plc-(ptd)/rns/capital-reorganisation/201211140700160445R/

Tempus writes that building products provider CRH is taking a cautious view of prospects for continental and American construction markets by identifying another €450m of cost-cuts between now and 2015 — and third-quarter figures, though affected by a couple of one-off factors, give an idea why. In Europe, a 5% sales decline in the first half accelerated to 7% in the third quarter after difficult trading in the Netherlands and Poland. In the US, CRH was lapping a mild winter last time and a strong performance that continued into the spring and saw some work pulled forward from the third quarter. So sales were up by 8% in the first half but only 1% in that quarter, while superstorm Sandy will mean disruption, and a sales decline, in the last three months of the year. Across the group, then, sales were off by 3% in that third quarter.

Philip Leech, Chief Executive of Terrace Hill, commented: "Having made the strategic decision to increase Terrace Hill's focus on development, thereby better utilising our core expertise, we are very pleased to have been appointed by Darlington Borough Council to develop this important new scheme. The appointment is not only an endorsement of our development expertise and of our ability to attract first class leisure operators and retailers, but also underlines the importance of having a strong network of local offices that can access and win this type of opportunity."

TERRACE HILL TO DEVELOP A NEW £30 MILLION LEISURE SCHEME IN DARLINGTON Terrace Hill, a leading UK property development and investment group, announces that it has signed an agreement with Darlington Borough Council to redevelop a 1.9 acre former bus station in Feethams, Darlington, into a new state-of-the-art leisure complex with a development value of around £30 million. The 140,000 sq ft Feethams leisure scheme will be anchored by a nine screen multiplex cinema and include an 80 bedroom hotel, as well as a number of restaurants, bars and shops. A planning application will be submitted early in the New Year and it is anticipated that the scheme will be completed and operational by December 2014. Terrace Hill is in advanced discussions with VUE Entertainment for the cinema element of the scheme and with Whitbread for the 80 bedroom hotel and family restaurant. Terrace Hill has also received strong interest from a number of national, as well as independent restaurant/leisure operators with regard to the remaining space.

http://www.investegate.co.uk/terrace-hill-group-(thg)/rns/30m-leisure-scheme-development-in-darlington/201211140700130410R/

Geoff Wilmot, Chief Executive, commented: "We have seen a significant improvement in our revenue profile and cost base at the start of the 2013 financial year, and the business has demonstrated strong momentum in growing its revenues from digital and events. Whilst trading conditions remain challenging in some markets, we are well placed to deliver further growth in 2013 and continue to make good progress towards our medium-term targets. We anticipate trading to be in line with our expectations for the current financial year."

CONT The Business Information division continues to maintain good rates of underlying revenue growth, with reported revenues up substantially, reflecting the impact of the VBR, Profile and Econsultancy acquisitions, each of which also continues to report good rates of growth. The Econsultancy integration is progressing well. Underlying revenues across the Exhibitions division grew strongly in the period, with Employee Benefits Live, the National Home Improvement Show and Aidex all performing ahead of expectations and with encouraging re-bookings across all three events. The Group continues to generate good momentum in building a strong pipeline of new event launches. Operating cash out flow in the four months to 31 October 2012 was lower than in the same period last year. Net debt to EBITDA at the end of October 2012 was approximately 1.8 times. With earnings and cash flows heavily weighted towards the second half of the financial year, the Group expects the ratio of net debt to EBITDA to reduce by 30 June 2013. Deferred revenues at 31 October 2012 were £13m, 30% ahead of the same period last year.

Interim Management Statement Centaur Media plc (LSE: CAU, the "Group"), the business information, events and marketing services group, today issues an interim management statement for the period from 1 July 2012, based on results for the four month period to 31 October 2012, with commentary on trading up to 13 November 2012. Reported revenues across the Group increased by 14% in the period with EBITDA margins continuing to benefit from recent restructuring initiatives, including those completed in the past four months. Underlying revenues across the Group declined by 4%, reflecting the impact of stronger comparatives and continued market weakness affecting advertising revenues, principally across the financial and marketing sectors. The Group continues to build strong momentum in growing digital and events revenues, which accounted for 38% and 30% of total revenues in the period, up from 32% and 22% in the same period last year. Across the Business Publishing division, while the marketing, legal and financial communities continue to see weakness in advertising revenues, the HR and engineering communities have reported good rates of underlying growth. This division continues to benefit from the cost savings arising out of the major rationalisation in 2012. The outlook across Business Publishing for the seasonally stronger second half of the financial year remains relatively uncertain for the Group's advertising-led products. However, this division is well placed to take advantage of any recovery in Centaur's markets.