Member Info for mulledwine

John Menzies plc, today issues anInterim Management Statement in accordance with its obligations under Section 4.3 of the Disclosure and Transparency Rules for the period from 1 July 2012 and is based on trading results for the four months ended 31 October 2012. John Menzies plc The positive start to the second half has continued and the Board expects the full year result to be in line with its expectations. Divisional Performance At Menzies Aviation the division is again on track to deliver full year underlying EBIT growth in line with expectations, despite the adverse impact of foreign exchange fluctuations. Overall, year to date like for like ground handling volumes are up 2.7% (absolute 7.8%) as the underlying business continues to perform well in a tough trading environment. Cargo volumes continue to be stable but soft with like for like volumes down by 7.3% although absolute volume is up 2.5% reflecting the annualisation of contracts won in the prior year. The re-structure of the loss making UK cargo business is complete and has allowed the division to exit four facilities and concentrate its main cargo offering on a single facility at London Heathrow which is being integrated with the stronger ground handling operation, similar to other large, successful airport operations. This leaves just one material loss making cargo operation, in Chicago. The three acquisitions made during the year have been integrated to existing operations and are making positive contributions. Flight Support (UK) and Prague Handling (Czech Republic) are examples of consolidation which deliver synergies and Kamino Cargo (Romania) demonstrates the potential to add the cargo product to ground handling, where the market dynamics are attractive, and strengthen regional density. Further organic and acquisition growth opportunities exist, where management will follow a structured growth plan to enter new, attractive markets where the division believes there are good growth prospects, hurdle rates of return can be achieved and long term value can be created.

http://www.investegate.co.uk/menzies(john)-plc-(mnzs)/rns/interim-management-statement/201211130700059392Q/

Anglo American is carrying out a detailed cost review to assess the impact of the already announced delay and the other disruptive challenges faced by the project which include high cost inflation across the construction industry in Brazil. The review includes an independent external assessment commissioned by the Board. Anglo American will provide further detailed information in relation to Minas-Rio when the cost review has been completed and the remaining challenges affecting the project timetable have been resolved. However, the current indications are that capital expenditure for the project is unlikely to be less than the $8.0 billion upper end of the current range of analysts' expectations.

13 November 2012 Anglo American update on Minas-Rio iron ore project Anglo American plc ("Anglo American") announces an update in relation to its 26.5 mtpa Minas-Rio iron ore project in Brazil. In its Half-Year Financial Report in July 2012, Anglo American reported that, subject to resolving the existing licensing challenges facing the Minas-Rio project by the end of 2012 and not encountering additional unexpected interventions, first ore on ship was anticipated to be delayed to the second half of 2014. Since July, work has continued to resolve the licensing challenges. These included three injunctions affecting construction activities at the beneficiation plant, as well as land access issues affecting the 525 km pipeline route. Two of the three injunctions were satisfactorily removed during September 2012, enabling construction of the primary crusher and conveyor system at the mine site and pre-stripping work to resume. The third injunction, which affects the construction of the electricity transmission line, remains, despite the licence having been awarded in March 2012, and efforts to resolve the issue continue with the regulatory and governmental authorities. Work also continues to complete the land access programme for the pipeline. Construction progress is on schedule in relation to the elements of the project programme that are unaffected by legal or land access constraints.

http://www.investegate.co.uk/anglo-american-plc-(aal)/rns/update-on-minasrio-iron-ore-project/201211130700059363Q/

A critical part of our strategy is the continued investment in new land to support the growth of Persimmon in the future. We have acquired over 5,500 plots since 1 July, including c. 1,600 plots in the South East with the acquisition of Hillreed Homes on 5 October 2012, adding to the 5,779 new plots acquired in the first half of 2012. Hillreed, a strong brand with a reputation for high quality, is complementary to our Charles Church business, and has strong strategic land holdings in Kent and Sussex. The promotion and conversion of strategic land is a key element of our land replacement activities and since 1 July c. 32% of our acquired plots have been successfully converted from our strategic landbank. We have delivered additional profit and cash returns on legally completing new homes from these sites over many years. We anticipate we will be holding an increased level of cash at the close of the year (30 June 2012: £135.2 million) resulting from the strong free cash generated by our operations. The UK housing market continues to be challenging and mortgage availability remains the key constraint. However, with the adoption of our new Long Term Strategy at the start of the year we remain confident of the future successful growth of Persimmon and the delivery of significant value to our shareholders over the coming years. We will give a further update on progress and trading following the year end on Tuesday 8 January 2013. Mike Farley and Mike Killoran will host a conference call with analysts at 9.00 a.m. today. To participate please dial +44 (0)20 3003 2666. The password is "Persimmon".

We have already opened 50 of the c. 60 new sites we scheduled for the second half of the current year. We anticipate our active site numbers will remain stable at c. 375 sites for the remainder of 2012. In February, we launched our new Long Term Strategy designed to grow Persimmon into a larger, stronger business over the next decade, whilst delivering a substantial capital return to shareholders. As explained at that time, a continued focus on improving profitability and free cash generation are important components of this strategy. Achieving the best selling price for our new homes is a key element in delivering these objectives. We anticipate an improvement in our average selling price to c. £172,000 for the full year, an increase of c. 5% over the prior year (2011: £163,999) due to change in sales mix which is in line with our first half performance. Prices have remained stable through the period. We are fully sold up for the current year and have c. £508 million forward sales reserved beyond 2012, a c. 5% increase on the comparable prior year position (2011: £484 million). We have previously indicated that we anticipate the Group returning to underlying operating margins within the range of 15% to 17% in the medium term. We are confident that the second half of 2012 will demonstrate further good progress along that path, building upon the improvement to 12.2% secured in the first six months of the year (from 9.0% in H1 2011). Return on capital employed will continue to increase, supported by our tight control over development costs and a healthy level of site replacement, to reach c. 12% for the current year (2011: 8.3%). We expect further improvement to come in the future.

INTERIM MANAGEMENT STATEMENT TUESDAY 13 NOVEMBER 2012 Persimmon plc today releases its Interim Management Statement which covers the period from 1 July 2012 to 12 November 2012. We are pleased to confirm current trading is in line with our expectations. As reported at our half year results on 21 August 2012 weekly private sales rates were c. 5% ahead of the prior year through the traditionally slower summer weeks. On entering the autumn selling season from the second week of September we experienced the usual seasonal pick-up in sales. Notwithstanding the tougher comparatives resulting from the stronger autumn season last year, our weekly private sales rate is similarly c. 4% ahead year on year. Visitor levels to our sites have been c. 6% ahead of last year from the start of the autumn season and cancellation rates continue to run at historically low levels at c. 20%. The cost of mortgage loans has recently reduced slightly as lenders access the Government's Funding for Lending Scheme and pass the lower funding costs through to customers. The take-up of the Government backed 5% deposit NewBuy mortgage product is as a result gradually improving. To date we have supported over 450 customers to purchase a home with a NewBuy mortgage.

http://www.investegate.co.uk/persimmon-plc-(psn)/rns/interim-management-statement/201211130700049244Q/

Outlook We enter the critical Christmas trading period with all businesses in a strong position to maximise commercial opportunities. At the same time we continue to develop our medium term growth plans, and I am confident the group will deliver results for the year as a whole in line with market expectations.

Cash flow and Debt Working capital levels at September 2012 at £45.5m are £3.8m higher than September 2011 (£41.7m) primarily driven by higher stock levels. Debtor and creditor levels were both up but by similar amounts reflecting an improvement in the balance of respective trading terms. Capital expenditure at £1.3m is marginally below last year's level of £1.5m. Despite the increase in working capital levels net debt (including cash) at September 2012 was £32.1m, down from the September 2011 level of £33.7m. The group retains significant headroom within both its banking covenant and its facilities. The group is proactive in extending its banking arrangements beyond the July 2013 renewal date. The completion timetable has been agreed and it is planned to announce the new arrangements by the end of the calendar year. In the meantime we have moved £4.96m of term loans to current as they fall due within the next 12 months, borrowings due over one year are now £2.77m as compared to £6.79m at September 2011

Pieter Totté, Executive Chairman, comments: "We enter the critical Christmas trading period with all businesses in a strong position to maximise commercial opportunities. At the same time we continue to develop our medium term growth plans, and I am confident the group will deliver results for the year as a whole in line with market expectations."

· Group continues to focus on brand development and driving sales growth · Divisional Highlights o Key trading divisions of Napier Brown, Garrett and Renshaw all in line with this year's EBITDA expectations o Significantly improved performance at R&W Scott - EBITDA up £0.8m over last year o Improved performance at Haydens expected to accelerate in the second half · EBITDA little changed at £3.0m (2011: £3.1m) after increased investment in new branding initiatives of £0.5m at Napier Brown and Renshaw to support growth plans · Working Capital at £45.5m up 9.4% on last year, but well within planned levels and the normal seasonal pattern. Increase year-on-year primarily driven by higher stocks in Renshaw and Napier Brown, which will be worked off over the remainder of the year · Net debt reduced by £1.7m to £32.1m, despite increase in working capital

http://www.investegate.co.uk/real-good-food-co-(rgd)/rns/half-yearly-report/201211130700059286Q/

Eliot Kaye, Director of Puma Investments and Investment Director of the Puma VCTs added: "The ongoing effects of the credit crisis mean that SMEs are still finding it difficult to access the funding they need from the traditional banks. As a consequence, we have seen a significant increase in our pipeline of potential investments. In particular, we are seeing many established companies which have substantial assets or predictable revenue streams, over which a first charge can be taken, thereby reducing the risks usually associated with venture capital investing. For us it's all about backing the right management teams, adding value where we can and letting them get on with what they do best - running their business."

Today sees the launch of Puma VCT 9 plc, the first VCT to be launched by Puma Investments the newly formed specialist provider of tax efficient solutions from Shore Capital Group. Under the leadership of CEO, David Kaye, Puma Investments plans to launch and manage a new range of tax efficient products. Commenting, David Kaye said: "Puma Investments will benefit from the successful track record, skills and expertise of the Shore Capital team. Having our products under one distinctive brand creates greater clarity at a time when investors are increasingly seeking vehicles which offer capital preservation within a tax efficient structure." The new Puma VCT 9 will run a similar investment strategy to, and be managed by the same team as, the previous successful Puma VCTs, seeking to preserve capital whilst producing regular, tax-free dividends to shareholders. The VCT intends to maintain a regular dividend payout of up to 6p per annum, the first such payment being made in April 2015. Qualifying investments will be in established unquoted companies, primarily in the form of secured loans. Applications for shares in Puma VCT 9 received before 31 December 2012, will receive a 1% enhancement in additional shares. Puma VCT 9 will be attractive to investors seeking a tax-efficient, higher income investment with the defensive qualities associated with Puma's emphasis on asset backed, well managed companies.

Shore Capital launches new investment business and latest VCT - Puma VCT 9 · New standalone brand to focus on tax efficient products · Highly experienced investment team, successful 16 year track record · Launch of Puma VCT 9 - 1% early bird discount offer · The only planned exit VCTs to have returned 100p per share in cash to investors · Over £57m paid out in cash dividends to VCT shareholders

http://www.investegate.co.uk/shore-capital-group-(sgr)/rns/puma-investments/201211130700109459Q/

Tempus in The Times says that the launch last month of Aveva Group’s Everything3D product is its most significant since the first computer-aided design software was unveiled in 1973, six years after the company was spun out of Cambridge University. Aveva is one of those British-based global leaders that most people will not have heard of, with a market capitalisation of approaching £1.4bn. Halfway figures to the end of September show growth across all three regions, with Asia Pacific the standout at 21%. It has been expanding in India, with a new office in Mumbai. The halfway dividend is raised by 13% to 4.5p. Aveva continues to carry large amounts of cash on its books, £166m at the half-year end. Mr Longdon insists that this could be needed for acquisitions, though no deal of any size has been completed since 2004. It is not a bad place to be, having surplus cash in these markets. The shares, up 14p to £20.15, sell on about 20 times’ this year’s earnings, if you strip out that cash. High, but worth it for the long term.

"I am delighted that Crimson Tide, in association with our Partner Premier Telecom, has been chosen to be involved with such an innovative project," says Barrie Whipp, chief executive, Crimson Tide. "Our mpro application will help provide individuals in Hampshire with greater choice and flexibility in the way that they communicate and interact. Crimson Tide is gaining increased trust within healthcare and health-related organisations, of which Hampshire Autistic Society is another example. I look forward to a strong and dynamic partnership together." "Hampshire Autistic Society is constantly looking at ways that we can support individuals with autism to take more control over their lives. The development of this application will give the individual reassurance and individually tailored calming strategies as well as how to access their support networks through the Autism Alert Programme. We are excited about this new initiative that will give a much needed tool to the autism community." Andrew Monaghan, CEO Hampshire Autistic Society. "The Hampshire Autistic Society is a local charity, with which I have close links. It has therefore been my pleasure to be able to look after the telecommunication needs of this organisation and I am more than happy to contribute to this latest innovation, which I believe will make the lives of people with autism much safer." Darren Ridge, CEO Premier Telecom.