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Shares in Kingfisher (KGF) floated up 6.2p to 261.8p after it reported year-on-year revenue growth of 4.6% for the 13 weeks ended 29th October to 2.8 billion pounds, with retail profits rising 13.9% to 273 million pounds. The DIY company attributes the growth to improved cost control and increased sales of high margin products. Additionally, the warm weather boosted sales of seasonal outdoor products, with garden furniture sales from subsidiary B&Q up 68%. However, with milder autumn weather, the group notes that sales of heating products have fallen. Panmure Gordon noted that the performance was ahead of expectations and expects to hear an exciting strategy update in March.

Shore Capital initiated coverage of Synergy Health (SYR) with a "buy" recommendation. The group's medical device and hospital sterilisation business should benefit from increased regulations says the broker, particularly in the UK. Additionally, Shore views international expansion into emerging markets as a logical step for future growth. The broker views it as a defensive stock with good revenue visibility, noting that management is looking to further diversify its income. Shares in Synergy declined 18p to 866p

BTG (BGC) kept its "hold" rating from Panmure Gordon, but with an increased target price of 328p, from 318p. The pharmaceutical company had a strong first half which has led the broker to increase its full year revenue forecast by 18.7% to 164.2 million pounds. Panmure attributes the growth to the group's BeneFIX outperforming expectations, generating revenues of 16 million pounds. However, the product has now lost patent protection and the broker expects royalties from BeneFIX to be negligible in the second half. The shares dropped 9.7p to 299.8p.

Investec raises target from 300p to 320p, buy rating unchanged

1st December 2011 Analyst: Richard Gill Email: richard.gill@gecr.co.uk Tel: 0207 562 3378 Conygar Investment Company - Solid full year results. Significant potential for medium/long-term NAV growth. Base case target price of 146.8p - retain stance of BUY

While B&Q and Screwfix owner Kingfisher reported third quarter profits ahead of Investec’s forecasts, the broker has reiterated its hold rating given the “undemanding valuation metrics”. “We have…cut our outer year forecasts in anticipation of negative LFLs [like-for-likes] in France next year, albeit mitigated by continuing direct sourcing benefits,” the broker said. As such, the target price is cut from 245p to 235p.

Peter Harf, the deputy chairman of the board at Reckitt Benckiser, has once again sold millions of pounds worth of shares in the firm, totalling £23m in just three days. The company insists the director, who has occupied his position since 1999, isn't going anywhere just yet. "He's made the sale for personal-professional reasons," the firm said.

RPC is Europe's leading supplier of rigid plastic packaging, with operations in 18 countries, and Garry White, writing as Questor in the Daily Telegraph, reckons you should buy the shares for future growth. Yesterday's interim numbers were strong, Questor maintains. One good measure of RPC's performance is return on capital employed (ROCE), a measure of the efficiency and profitability of a company's investments. In the first half of this year ROCE came in at 18.1pc compared with 15.1pc in the last full year. RPC is looking to improve this measure to 20pc by 2014. Some of RPC's markets are obviously hit by the recession – tighter household budgets mean there are fewer paint pots being sold, and fewer office workers means fewer plastic cups. However, once the recovery starts – whenever that is – the company has a lot of "operational gearing" so profits should rise higher than revenues when volumes start to pick up.

Critics hated it, notes The Times's Tempus column, but the latest film in the Twilight saga should ensure that the strong rise in cinema box office admissions, up 5.2 per cent in October, will continue into November, a note from Collins Stewart points out. This is good news for Cineworld, which has a quarter of the UK market. Tempus suspects that, as in previous downturns, a visit to the cinema will be one of the few little luxuries consumers will not be prepared to give up.

The Tempus column in The Times ponders which stocks would fit into a share portfolio consisting of stocks exposed to London and the South East only, and suggests that one would be Shaftesbury, the property company whose assets consist almost entirely of shops, restaurants and bars in the West End. Its full-year figures yesterday contained one startling table. Over the past five years, gross income from its property portfolio rose year on year through the recession, up another 13 per cent to £77.5 million. Their estimated rental value showed a slight dip in 2009, but that rising income suggests tenants merely continued to pay over the odds. The shares are unusual in selling at a premium to net assets of 8 per cent above the 463p a share at the end of September, up 11.8 per cent over the year. Still a long-term hold for those who believe the London economy will continue to outperform, reckons Tempus.

Unveiling the new cameras Nick Bolton, CEO of OMG plc said: "Since our first Bonita rolled off the production line in 2009, the Bonita name has become synonymous with reliability, capability and affordability. These qualities transformed Bonita from simply an exciting new idea two years ago in to the fastest selling camera in our Group's history. Today's new launches take Bonita to a new level of speed and accuracy and we look forward to seeing the many ways in which customers put them to the test."

MG extends Bonita camera range - New cameras from Vicon enable faster, higher resolution and affordable motion capture - OMG plc (LSE: OMG), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, is pleased to announce the extension of its Bonita motion capture camera range. First launched in October 2009, Bonita is the most affordable of OMG's Vicon cameras and offers fast, powerful and accurate motion capture capabilities in a package small enough to fit in to the palm of your hand. Today's product launches extend the Bonita range from just one camera to two, offering customers even higher resolution image capture. The two new cameras are the Bonita 3 and the Bonita 10. The Bonita 3 features all the benefits of the original Bonita product - a VGA sensor and capture speeds of 240 frames per second. The second camera, Bonita 10, is an entirely new product, designed to include a one megapixel sensor, which enables the capture of higher resolution images to a greater degree of accuracy. The size and specifications of OMG's two new Bonitas open up the possibility of capturing smaller, more detailed images in ever more confined, complex environments. Both cameras are also fully compatible with Vicon's Nexus and Tracker software suites.

http://www.investegate.co.uk/Article.aspx?id=201112010701121237T

Commenting on the half year results, chairman, David Bolton said: "I am pleased to report a profit after tax of £0.6 million for the first half of the financial year as we progress our strategy to re-position and develop the Company as a specialist cashmere business, the area in which we are renowned. The disposal of our non-cashmere business, Dawson Home Group Limited, was completed on 17 May 2011 and our focus is now on growing our cashmere business by expanding our customer base in both new and existing geographical areas and expanding our product offering in both cashmere and complementary accessories. We entered this financial year recognising that difficult global economic conditions coupled with significant raw material price increases in each of the last two years would have a negative impact on our results. We have traded ahead of our expectations in the first half of the year but this is due at least in part to the timing of sales and our expectations for the full year remain broadly unchanged. We are cautiously hopeful that our negotiations with the Pensions Trustees and the Pensions Regulator are reaching a conclusion which will provide a measure of certainty for our pension scheme members, employees, customers and shareholders going forward."

HALF YEAR REPORT FOR THE PERIOD ENDED 1 OCTOBER 2011 KEY POINTS · Home Furnishings business sold on 17 May, estimated net proceeds £6.5 million. - £4.4 million net proceeds received in the period. - Loss incurred in the six weeks to disposal £0.5 million. · Dawson now strategically positioned as a specialist cashmere business. Continuing operations highlights: · Turnover £19.8 million (2010: £21.5 million). · Operating profit before exceptional items £0.3 million (2010: £1.2 million). · Operating profit after exceptional items £0.4 million (2010: £1.8 million). · Margins of US business impacted by significant cashmere price increases in the past two years. · Net cash outflow £5.1 million (2010: £7.1 million), includes net proceeds from the sale of the Home Furnishings business of £4.4 million and additional payments to pension schemes of £2.3 million. · Strong cash position of £5.0 million.

http://www.investegate.co.uk/Article.aspx?id=201112010700181222T

interesting

Commenting on the results, Maxim Basov, a member of the Board of Directors of ROS AGRO PLC and CEO of the Group said: Considering the 9 month results of 2011, we can acknowledge that despite the negative impact of the drought in 2010 and extremely volatile situation on world markets, the company has shown sustainable results and has strong cash flow. Over the past nine months we have faced significant macroeconomic uncertainty, which has seriously affected the dynamics of world commodity prices, while also breaking the correlation between world and domestic prices. The result has been that we have not earned the money that was targeted for cane sugar. The significant reduction in market sales prices, which among others was caused by the uniquely high yield, especially in the sugar and agricultural divisions, has forced us to lower sales volumes in the current year in order to achieve better results in a period with more attractive market prices. At the same time, we are satisfied with the results of the B2C sugar division, which has given us more stability during a period of high price volatility We are also very pleased with the positive dynamics in the meat division, which has shown a significant increase in the results despite the costs of the Tambov bacon project which had only expenditure component before its startup. We continue to focus on operational efficacy, which permits us to accomplish more stability in any market situation with impossibility to influence the dynamics of sales prices. The company has shown the record production levels and achieved all planned goals in production of all business divisions. We would like to confirm that all of our key investment projects remain on schedule and within budget. The Group is looking to the future with confident and we continue to believe that our focus on operational efficiency and strong financial position will allow the company to achieve its strategic goals.

Ros Agro 9 month financial results of the year 2011 Moscow, 1 December 2011 - Today ROS AGRO PLC, Holding Company of Rusagro Group, a leading Russian diversified food producer with vertically integrated operations, has announced the unaudited financial results for the period ended 30 September 2011. 9 month of the year 2011 Highlights - Sales amounted to 29 314 mln roubles (1 020 mln USD), an increase of 7 365 mln roubles compared to 9 months of the year 2010; - Adjusted EBITDA (*) amounted to 1 748 mln roubles (61 mln USD), a decrease of 3 201 mln roubles compared to 9 months of the year 2010; - Adjusted EBITDA margin achieved is 5,96 %; - Adjusted Net profit (**) for the period of 1 595 mln roubles (56 mln USD) (in comparable terms with 9 months 2010 excluding share-based remuneration of 570 mln), a decrease of 2 221 mln roubles compared to 9 months of the year 2010; - Net debt position (***) on 30 September 2011 of 9 647 mln roubles (303 mln USD); - Net Debt/ EBITDA (LTM) (****) 2,0x.

http://www.investegate.co.uk/Article.aspx?id=201112010701591391T