Member Info for mulledwine

The extent of the drop is surely not warranted -

The group expects a stronger second half result, underpinned by normal seasonal bias; a significant uplift in the order book in our Facades business driven by demand from the Community Energy Savings Programme; a stronger order book in our roofing business reflecting increased penetration of refurbishment markets; and an improved performance at Alumasc Precision. The group's order books continue to exceed £43 million in total. In view of all the above, the Board currently believes that its previous profit expectations for the full year are now likely to be at the top of the range of likely outcomes. A further, more detailed, update will be given once our interim results are finalised in February. On a more positive note, the medium term prospects for the group continue to be most encouraging, particularly in light of recent developments which include: · Levolux securing orders for design phases of two multi-million pound projects in London, which will begin to benefit during the next financial year · Gatic is experiencing a high level of enquiries for international work, and a business development manager has recently been appointed to grow Slotdrain opportunities in the United States · Blackdown has recently won a significant order to supply a circa £700k green roof for the Scottish Arena in Glasgow · Alumasc Precision is working on two potentially very significant new projects with major international customers.

THE ALUMASC GROUP PLC - TRADING UPDATE Alumasc (ALU.L) is issuing a half year trading update in respect of its financial year ending 30 June 2012. Group revenues of around £54 million for the half year are some 9% ahead of the equivalent period last year1, driven mainly by continued strong growth at Alumasc Precision. Building Products' divisional revenues also remain ahead of prior year comparators, against a background of continued contraction in the UK Building Products market. However, the group's half-year underlying profit before tax will fall significantly short of the £2.1 million reported a year ago, due to two factors: · the continued pressure on margins in the Building Products division; · the significant one-off costs of meeting the higher than expected growth in customer demand at Alumasc Precision. The full extent of the additional costs at Alumasc Precision only became clear following receipt of the results of the December month end stock count earlier this week. Immediate action has been taken to curtail the excess level of expenditure as we enter the second half of our financial year. Group net debt at 31 December 2012 increased to £13.5 million, compared with £11.9 million at 31 December 2010, due to investment in working capital to support revenue growth in the intervening period, and the lower than expected half year profit.

http://www.investegate.co.uk/Article.aspx?id=201201120700254211V

Alan Parker, Executive Chairman said: "Worldwide network sales increased by 3.0%, as a result of continuing strong growth in our profitable and cash-generative International business. We have opened our 1,000th store outside the UK and also launched in four new countries - Chile, Colombia, Iraq and Morocco. "In the UK, the better like-for-like sales performance was achieved in an increasingly competitive consumer environment. Additional promotional activity was successful in driving a 5% like-for-like sales increase in December and managing overall UK inventory levels, which are currently 17% lower than last year. The management actions we have already taken, which include a new web platform to launch next financial year, are expected to improve Direct and overall performance in 2012. "Both the search for our new CEO and the structural and operational review of our UK business are progressing well. The UK review, which is on plan to complete in the current quarter, has already highlighted key actions to improve the business for the future."

1,000th store overseas; UK review on track Mothercare plc updates on trading for the 13 weeks ended 7 January 2012 ("third quarter"). Group performance : third quarter § Worldwide network sales(1) up 3.0% § Total group sales down 1.2% § International retail sales(1) up 15.0% (up 18.5% at constant exchange rates) § UK like-for-like sales(1) down 3.0%(2) § Total UK sales down 6.9% mainly due to planned store closures § UK Direct in Home sales down 2.2%(2) Group performance : year-to-date § Worldwide network sales(1) up 4.5% § Total group sales up 2.0% § International retail sales(1) up 15.5% § UK like-for-like sales down 5.4% § Total UK sales down 5.3% § UK Direct in Home sales down 3.4%

http://www.investegate.co.uk/Article.aspx?id=201201120700224197V

Effect of disposals On 5th December 2011, the Group announced that it had agreed to sell its 100 per cent interest in Edda Media AS ("Edda Media") to A-Pressen AS. Adjusting for the impact of the disposal of Edda Media (including the effect of the disposal on intra-group recharges), and of the disposal of Presspublica already taken into account, the Group expects preliminary EBITDA from ongoing operations for 2011 to be approximately €114 million. The disposals of Presspublica and Edda Media have a dilutive effect on adjusted earnings per share. Discontinued operations are expected to contribute approximately 13 euro cents per share to 2011 earnings per share, with the impact of this expected to be partially offset in 2012 by a decrease in finance costs resulting from the reduction in net debt. Cash flow and net debt The Group expects the Edda Media disposal to complete in the first quarter of 2012, with a consequent reduction of circa €190 million in the Group's net debt. The Group's expectations on 2012 closing net debt will also be influenced by the strategic review which will be presented to investors on 24th January 2012. Further guidance will be provided then. Dividends The Board intends to continue the dividend policy, started in 2011, of maintaining dividends at a level where they are approximately three times covered by earnings per share. For the final dividend in respect of 2011 this will be based on total earnings for 2011, including earnings related to the disposed Edda Media and Presspublica operations. Thereafter, dividend payments will be based on earnings per share from continuing operations, within the parameters indicated above. As part of its review of the Group's capital structure, including the initiation of discussions with potential lenders regarding a refinancing of the Group's bank borrowings, the Board will consider a return of capital to shareholders from part of the proceeds of the Edda Media disposal

Outlook Trading The final quarter of 2011 has further highlighted the market pressure that is being exerted on print advertising revenues. The Board expects further declines in total advertising revenue in 2012, with strong growth in digital advertising partially mitigating the pressure on print. The Group expects circulation revenue to remain broadly flat as further price increases are implemented in 2012 to offset relatively low levels of volume decline. The previously advised benefits of the Group's I.T. outsourcing project will be realised in 2012 and this, along with further initiatives to be outlined in the Group's strategy update on 24th January 2012, is expected to lead to further cost reductions.

Trading highlights Full-year results and year-end net debt for the Group are expected to show some improvement on the guidance given in the 20th October 2011 Interim Management Statement. Key trading highlights of the year were as follows: · EBITDA in the second half of 2011, adjusted to exclude the Polish Presspublica operations disposed of during the year, was approximately €5 million lower than in the second half of 2010, resulting in a preliminary estimate of full year EBITDA of approximately €144 million (2010: €151 million). · During the final quarter of the year, advertising revenue declines continued across the Group, reflecting continuing turbulent economic conditions and lack of consumer confidence. Compared with the same quarter in 2010, advertising revenues fell by 12 per cent, 5 per cent, 5 per cent and 18 per cent, respectively, in the Netherlands, Denmark, Norway and Poland. Over the full year, advertising revenues fell by 9 per cent in the Netherlands, were flat in Denmark and Norway and fell by 11 per cent in Poland. · Circulation revenue in 2011 was broadly in line with 2010. The Group continues to benefit from the relative stability afforded by having a subscriber base which accounts for more than 80 per cent of total circulation revenue, and was able to increase cover and subscription prices to offset modestly declining volumes. · Total Group revenue remained resilient, being down 1 per cent in 2011, as declines in advertising were offset by growth in consumer sales, including Sweetdeal, and distribution revenues (including the effect of the collaboration with Telegraaf Media Groep in the Netherlands). · Total operating costs in 2011 were lower by approximately 1 per cent for the full year, compared to 2010. · Preliminary figures indicate that earnings per share for 2011 will be approximately 45 euro cents per share, including the benefits of reduced depreciation and finance costs. · Closing net debt was approximately €260 million, €10 million below the €270m indicated in the 20th October 2011 Interim Management Statement. This represents a year-on-year reduction in net debt of €51 million (16 per cent), resulting in a closing net debt to EBITDA ratio of 1.8 times

http://www.investegate.co.uk/Article.aspx?id=201201120700264222V

Holding up surprisingly well so far

Terry Duddy, Chief Executive of Home Retail Group, commented: "In a trading environment that has been both volatile and demanding, Homebase has again seen more resilient sales. Argos sales continue to be impacted by the market decline in consumer electronics categories, however we saw internet penetration reach over 40% of total sales, with Check & Reserve being boosted by the development of mobile commerce as customers embrace our leading multi-channel proposition. "We have managed the business tightly over the peak trading period and expect Group benchmark profit before tax for this financial year to be around the mid-point of the current analyst range of £78m-£125m. "We will continue to plan cautiously with an ongoing focus on managing robustly both the cost base and the cash position of the Group while prioritising our investment in the ongoing development of our multi-channel capabilities."

12th January 2012 Analyst: Steven Moore Email: steven.moore@gecr.co.uk Tel: 0207 562 3370 Avesco Group - Strong Full-Year Results. Reiterate ‘Buy' at 155.5p - Target Price 235p

Quarter Three Interim Management Statement Booker, the UK's leading food wholesaler, is pleased to announce its trading performance for the 16 weeks to 30 December 2011. Total sales in the quarter rose by 7.0% on the same period last year. Non-tobacco sales were 6.7% higher, while tobacco sales rose by 7.6%. On a like-for-like basis total sales rose by 6.5%, non-tobacco sales rose by 5.8% and tobacco sales by 7.6%. Customer numbers and the average spend per customer improved. Fresh departments performed well with fruit and vegetable sales up 17%. To accelerate our growth into the foodservice market, Booker is pleased to announce the creation of "Chef Direct". Chef Direct will serve major foodservice customers from a state-of-the art distribution centre in Didcot. Chef Direct will combine Booker's scale and logistics capabilities with Ritter-Courivaud's expertise in catering and speciality foods. The Didcot operation is currently being fitted out, and Chef Direct will start trading in June 2012. Expansion in India continues with the opening of our second and third branches in Mumbai in early 2012. The outlook for profits and net cash for the year remains in line with expectations.

http://www.investegate.co.uk/Article.aspx?id=201201120700144079V

Erlan Sagadiev, CEO of Frontier Mining, said: "In spite of the worsening credit markets we have been able to significantly increase the credit available to the Company and improve its terms. We believe these new facilities reflect the progress achieved in construction to date; as well as in the financial and technical robustness of the Benkala project and represent an excellent start to 2012".

Additional Benkala Project Funding Frontier Mining Ltd (AIM: FML), the AIM quoted copper exploration and development company focused on Kazakhstan, is pleased to announce thatSberbank Kazakhstan ("Sberbank") has signed an agreement to provide a loan and credit facility to KazCopper LLP (Frontier's wholly owned subsidiary through which it holds the Benkala license) to the value of $29 million dollars. Sberbank is the largest bank in Russia and the CIS. The facility is in two components, a $20 million investment loan and a $9 million working capital credit facility. The investment loan has already been partially drawn on to fully repay the Company's $8 million existing loans with HSBC Kazakhstan and for capital purchases. In addition, the loan will be used for the Benkala project's expansion, working capital requirements and the ongoing drilling programs at Benkala and South Benkala. The loan is for a period of 48 months, with a grace period of 12 months and an interest rate of 9%. The working capital credit facility is for 36 months with an interest rate varying from 7.5 to 8.5%. The loan and facility are secured by a registered charge over the assets and share capital of KazCopper LLP.

http://www.investegate.co.uk/Article.aspx?id=201201120700274226V

CONT The Group has also executed on its plans, as referred to in the IMS, to take one-off, non-recurring charges related to a UK contract, now completed, and the exit of commercial construction scaffold hire and sales activities in Queensland, Australia. Looking ahead, the increase in activity levels seen during Q4 2011 with the commencement of works noted above, gives the Board confidence that 2012 will be a year of significant growth in activity. Over half of Cape's revenues continue to be driven by essential maintenance requirements and regulatory commitments. With a number of major projects in our chosen sectors moving forward we remain confident of delivering on our plans for 2012. Results for the financial year ended 31 December 2011 will be announced on 6 March 2012. *Before intangible amortisation, IDC related charges and income, and non-recurring items.