Member Info for mulledwine

Trading Update XP Power, one of the world's leading developers and manufacturers of critical power control components to the electronics industry, is today issuing a trading update for the fourth quarter ended 31 December 2011. Trading Revenues for the twelve months ended 31 December 2011 were 13% higher than those achieved in 2010. In constant currency the growth rate was 16%. Trading in the final quarter was characterised by a deterioration in global economic confidence, which impacted on end-user demand in a number of the markets served by our customers. Group revenues, in the three months to 31 December 2011, contracted by 5% over the same period in 2010 as some customers pushed out deliveries. In constant currency the contraction rate was also 5%. This contraction was most pronounced in our North American business. Despite another strong design win performance throughout the year, total bookings in the latter part of 2011 were soft as orders relating to existing programs were reduced against the backdrop of increasing macroeconomic uncertainty. This softness was most evident in the industrial and technology sectors, while healthcare has continued to remain resilient. With no improvement in end market sentiment yet in evidence, we expect further revenue contraction in the first quarter of 2012. Construction of the new Vietnamese manufacturing facility - which commenced in December 2010 - was completed on schedule during December 2011. This new, state of the art facility adds significant additional capacity and geographical diversification to our manufacturing assets, an important consideration for potential customers. We expect to start initial production of magnetic components at the new site during the first quarter of 2012. Financial Position Net debt was £19.0 million at 31 December 2011 compared to £18.4 million at 31 December 2010. Using the exchange rates prevailing at 31 December 2010, net debt at 31 December 2011 would have been £19.4 million.

http://www.investegate.co.uk/Article.aspx?id=20120109070000P2717

Geoffrey Bible, a non-executive of drinks giant SAB Miller, has made his second purchase in the last fortnight, buying up a total of 8,950 shares in the firm. Bible, 74, bought 1,950 shares at £23.157 each on 4 January, and the other 7,000 at £22.7208. The stock is certainly appealing at the moment, with the share price up 4.52% during 2011 and 5.34% in the last month.

Hmmmm - what happened there - we took a dull one to the coupon! down to 17.5 but now on the way back

Morgan Stanley downgrades TUI Travel from equal weight to underweight, target price cut from 220p to 160p.

The City was licking its lips today at the prospect of round two in the fight for Mitchells & Butlers. Bosses at the pubs group, whose chains include O'Neill's and Harvester, managed to repel stakeholder Joe Lewis last year after the Tottenham Hotspur owner parked his superyacht near St Katharine Docks to make a low-ball approach. The Square Mile's takeover rules mean the billionaire currency investor will be able to have another go in April - one of the reasons Morgan Stanley is now telling investors to pile into M&B. Analysts from the broker upgraded their advice to "overweight" as they also highlighted the fact that Lewis is now the group's largest shareholder after raising his stake to over 25%. Traders, meanwhile, were mulling over what would happen with the 24.2% stake of Irish horseracing magnates John Magnier and JP McManus in the company. Pointing out that they brought in at a significantly higher price than Lewis' 230p-a-pop proposal, they speculated that one possibility could be them taking a holding in an unlisted M&B. Otherwise, a huge premium to its current share price would have to be offered. Morgan Stanley's scribblers were optimistic over the outlook for M&B generally, saying special events such as the London Olympics and the Diamond Jubilee will provide plenty of cheer in 2012. The group shot up 10.2p to 239.85p in response.

06/01/2012- Burberry was in pole position, jumping up 36p to 1239p amid speculation that China, a major market for the luxury brand, could be about to cut its banks reserve ratio again. With such a move expected to boost the country's economy, the talk came in the wake of an article in the Communist Party's official organ, the People's Daily, claiming Beijing was aiming for a fall in growth for 2012 to under 8%.

WW - You will have liked the update no doubt!

e-Close Trading Statement Nichols plc ("the Group"), today issues the following pre-close trading update. Trading The Group has maintained the excellent momentum reported at the half year, with sales for the year to the 31 December 2011 increasing by 18% compared to 2010. This performance is ahead of our internal expectations, has been achieved against strong prior year comparatives (16% uplift on 2009) and despite the continued downturn affecting the UK economy. Once again our brands have outperformed the soft drinks market in the UK and our strong and well established international business continues to deliver significant year on year growth. In our UK business, gross margins remain under pressure due to a combination of raw material cost inflation and the exceptionally high level of promotional activity in 2011. It is therefore pleasing to report that our Operating Profit margin will be maintained as a result of ongoing productivity improvements and tight control of costs. The Group's balance sheet remains strong, with underlying cash generation also ahead of internal expectations. In summary, we expect Group profit to be significantly ahead of last year and ahead of current market expectations for the year ended 31 December 2011.

http://www.investegate.co.uk/Article.aspx?id=201201060700100991V

Commenting, Robert Adair, Chairman of Terrace Hill, said: "In the last year there have been some very positive aspects to our business, most particularly the strong growth in our foodstore development programme and reduction in debt. We believe that the greatest potential for the business lies in focusing on our key strengths of commercial property development and trading, and as we execute this strategy I remain confident we will perform well over the medium term and add value to the business for our shareholders."

FULL YEAR RESULTS SHOW CONTINUED PROGRESS IN DEVELOPMENT BUSINESS AND INCREASED FOCUS ON FOODSTORES Terrace Hill Group plc (AIM: THG), a leading UK property investment and development group, today announces results for year to 30 September 2011. Financial Highlights: § Revenue profit* of £5.6 million (30 September 2010: loss of £3.0 million) § Revenue of £67.8 million (30 September 2010: £30.7 million) § Loss before tax (IFRS) of £10.2 million (30 September 2010: profit of £17.9 million) § EPRA Net Asset Value per share decreased by 23.9% to 25.4p (30 September 2010: 33.4p as restated) while EPRA Triple Net Asset Value per share decreased by 23.0% to 26.6p (30 September 2010: 34.5p as restated) § Balance sheet gearing reduced to 95.1% (30 September 2010: 127.6%, on a restated basis)with net debt reduced by £39.3 million to £51.4 million (30 September 2010: £90.7 million) Operational highlights: § Foodstore business maturing very well and growing rapidly, with the committed programme of development now standing at 652,000 sq ft, with a projected end value of £240.0 million § Good progress with other developments, including two central London office led mixed use schemes at Howick Place in Victoria, and Savile Row / Conduit Street, W1 § Orderly disposal of residential portfolio underway with a 12-18 month sales process expected

http://www.investegate.co.uk/Article.aspx?id=201201060700101022V

Today Questor casts its eye over cinema chain Cineworld which issued a strong trading statement yesterday. Box office sales in 2011 were ahead of 2010 by 2.7%. This year may be tough for Cineworld though as the Olympics begins to tempt poeople away from the movies. Nevertheless, The Hobbit Part 1 and the Batman film Dark Knight Rises are due this summer. Questor believes that Cineworld, having demonstrated its resilience through the last few years, is a buy.

Interestingly The Telegraph’s Questor column looked at Tullet Prebon’s main rival, ICAP yesterday. The stock has fallen 38% in the last 12 months on reduced trading volumes as banks have tried to steer clear of risk as they fight for their lives. Questor, however, was unwilling to give up on ICAP which has made intriguing noises about a large transaction (the London Metal Exchange being the prime example). The group has also got rid of its troubled Japanese business. With a yield of 5.8%, rising to 6.8% by 2015 Questor says hold.

The Times’s Tempus column takes a look at the inter-dealer broker Tullet Prebon which yesterday released results showing revenues flat on 2010 at £910m. Tempus points out that after stripping out exceptional items, including office closures in the US and an acquisition in Brazil, performance was actually 2% ahead of the previous year. Tempus believes of the five existing IDBs not all will be around come the end of 2012. They face reduced business because of low interest rates, they also suffer when distressed banks are unwilling to trade. Tullett trades on just 7 times earnings but Tempus says wait until the current economic haze disappears before jumping in.

Shell, the last FTSE 100 company still to offer new recruits a generous guaranteed pension linked to final salary has capitulated by announcing plans to axe the policy. Shell’s decision, effective from the first quarter of next year, means that not a single FTSE 100 employer will offer the kind of retirement terms regarded as standard 20 years ago. In the 1990s, almost all large private employers offered a final-salary linked pension, which guaranteed a retirement income regardless of life expectancy or stock market performance. But rising longevity and falling investment returns have led most private sector employers to water down benefits, The Times reports.

Robert Walters, Chief Executive, commented: "Group net fee income for the year ended 31 December 2011 was up 18% (15%*) to £183.6m (2010: £155.4m) and we expect a satisfactory outcome for 2011 as a whole. "We are very mindful of current market conditions and weaker client and candidate confidence and therefore enter 2012 with caution. We will run the business as we have in previous times of economic uncertainty, through sensible cost management and long term investment in those markets offering strong growth opportunities. The Group remains well positioned to meet the challenges ahead as a result of our strategy of geographic expansion and diversification."

· 74% of Group's net fee income generated from international business. · Strong growth in France and Germany against a backdrop of economic uncertainty across Europe. · Further expansion in Asia with the opening of the Group's first Taiwan office in Taipei. · Market conditions in the UK remain difficult. · Group headcount increased to 2,042 (30 September 2011: 2,001) as a result of a major Resource Solutions client win. · Balance sheet remains strong, with net cash in excess of £17m as at 31 December 2011 (£24.9m as at 31 December 2010).

http://www.investegate.co.uk/Article.aspx?id=201201060700101004V