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MISYS INTERIM MANAGEMENT STATEMENT Revenue growth of 4% in the first quarter driven by continued shift to new solutions and new customer wins Misys plc (FTSE: MSY.L) Interim Management Statement, including unaudited financial information for the three months ended 31 August 2011. Highlights All comparisons against the prior year period are on a constant currency basis and are pro-forma for the acquisition of Sophis. * Revenue up 4% on prior year, including growth in all divisions and regions, with TCM revenue up 9% * New solutions were 62% of ILF revenues and 53% of ILF orders * Strong orders growth in Banking (+17%) and TCM (+13%). Sophis orders down £ 6m or 54% due to three delayed sales which are at final contract stages * 13 new name wins in Capital Markets (TCM and Sophis) * 3 new BankFusion customers and 8 new Transaction Banking customers * 4 BankFusion go-lives in the quarter

http://www.investegate.co.uk/Article.aspx?id=20110928070000PF97C

David Hunter, Director of executive search for Penna Plc commented: "Early adoption of FileFinder 10 puts Penna at the forefront of the industry, and provides us with a platform to deliver exceptional outcomes for our clients now and in the future." Jason Starr, Managing Director of the Company added: "We are delighted that, after an extensive review process, the executive search team at Penna Plc will be replacing its current system with FileFinder 10 and by the new relationship between our firms."

Dillistone Group Plc ("Dillistone" or the "Company") New Contract Dillistone Systems, the executive search software subsidiary of the Company, is pleased to announce a new contract win with human resource consultancy firm, Penna Plc. Under the terms of the contract, the executive search division of Penna Plc will implement FileFinder 10 software for use in its offices in the United Kingdom, Ireland, Spain and Sweden. Hosting, implementation and support services will also be provided.

http://www.investegate.co.uk/Article.aspx?id=201109280700240362P

Which way will this go tomorrow then !!

Statement re Charter International plc On 29 June 2011 Melrose PLC ("Melrose") announced a possible offer for Charter International plc ("Charter") under Rule 2.4 of The City Code on Takeovers and Mergers (the "Code"). Melrose announces it has completed due diligence and has agreed terms with its financing banks. However, in the current climate Melrose is of the view it is not in its shareholders' best interests to proceed and in accordance with Rule 2.8 of the Code, Melrose announces that it will not be making an offer for Charter.

http://www.investegate.co.uk/Article.aspx?id=201109271656170440P

JP Morgan Cazenove upgrades Bovis Homes from underweight to neutral, target price raised from 453p to 500p.

Altium Securities downgrades Mitchells & Butlers from buy to hold, target price cut from 300p to 260p.

Nomura initiates buy on Bumi, target price 1400p.

Oriel Securities upgrades Topps Tiles from sell to hold.

Numis has upgraded Topps Tiles from hold to buy, the target price cut from 40p to 31p

The unusual price fall in Fresnillo lately, in line with a decline in the broader precious metals market, has prompted the broker Citi to raise its rating on the silver miner to “hold” from “sell”. “We see the immediate future of FRES as bright because it has a healthy string of greenfield and brownfield expansions in the years ahead,” Citi says. “It also looks to be the UK precious metal producer with the most potential in the time frame of 10-30 years ahead, because of the quality and nature of its reserves. “ It says the fall in Fresnillo’s share price has “discounted these admirable qualities.” Citi also lifts its target price on Fresnillo to 1,715p from 1,571p.

Seymour Pierce continues to see medical technology group Lifeline Scientific making strong progress on sales, product development and geographical expansion. The broker has a 260p target price on Lifeline and a “buy” recommendation. “The phasing of R&D expenditure means the company is ahead of our interim earnings expectations, while we anticipate total investment for the full-year to be in line with our existing assumptions,” Seymour Pierce notes. It points to Lifeline’s low valuation of 12.6 times estimated 2012 earnings, which compares with 16.8 for peer Advanced Medical Solutions and 17.4 for Surgical Innovations.

Citi reiterates its buy/medium risk rating on Aberdeen Asset Management after the fund manager’s trading update today. At £176.9m, assets under management were 3% higher than Citi’s forecasts of £172.5bn. “Despite a challenging market backdrop, stronger than industry fund flows are reassuring,” Citi notes. “Also, Aberdeen’s recent pay down of bond debt will reduce interest costs (helping the bottom line) and we see scope for management of other costs: we estimate staff costs make up 60% total, and around 1/3 of non-staff costs are outsourced third party administration costs which vary with AUM levels.” Citi has a 230p target price on Aberdeen.

RBS also downgrades asset manager Schroders, to “hold” from “buy”, while slashing its target price on the stock to 1,250p from 1,970p. It notes that, while Schroders offers compelling long-term value, share price performance is a more important concern in the current environment of equity falls. “In that context, we see exposure to stable fund flow markets, fixed-interest assets and cost flexibility as being drivers of relative outperformance; we see high exposure to equities, volatile fund flow markets and cost inflexibility as drivers of relative underperformance,” RBS says.

Elsewhere in the sector, RBS is concerned about Jupiter Fund Managements’ exposure to equities and has lowered its rating on the stock to “sell” from “hold”, with the target price reduced to 171p from 205p. “We downgrade the stock from Hold to Sell on our belief that the mark-to-market downgrades for Jupiter are likely to be larger over the next two weeks given the company’s higher equity exposure (83% versus 47% sector average),” RBS says. On the positive side, RBS notes that Jupiter’s strong position in the UK market, which accounts for 89% of funds under management “should hold it in good stead relative to some other markets where we anticipate substantial redemptions.” It notes that Jupiter trades at a premium valuation of around 12.8 times expected earnings in 2012, against 10 times in the broader sector.

Commenting on the results, Chief Executive Roger White said: "We are pleased to have delivered financial performance in line with our expectations. This is a particularly positive result given the challenging comparatives we faced in the first half of the year, the relatively poor summer weather, which has impacted the soft drinks market and a competitive market backdrop. Whilst we remain cautious regarding the second half, given the market context, we are confident that we have a strong programme of activity including further innovation, which should help maintain our growth momentum. The combination of less demanding comparatives, better cost visibility, a strong programme of brand activity and good sales momentum gives us confidence that, assuming no significant adverse changes in the marketplace, we will meet our expectations for the full year."

A.G. BARR p.l.c., the soft drinks Group which produces and markets some of the U.K.'s leading brands, including IRN-BRU, Rubicon and Strathmore water, announces its interim results for the 6 months ended 30 July 2011. Key Points · Total turnover increased by 4% to £124.0m (2010: £119.2m); quarter two revenue increasing by 5.1% · Profit on ordinary activities before tax, excluding exceptional items, was marginally ahead of prior year at £16.2m (2010: £16.0m) · Basic earnings per share, excluding exceptional items, increased by 6.9% to 32.44p (2010:30.35p) · Free cash flow in the period was £9.7m · Net debt reduced to £15.2m; annualised net debt/EBITDA <0.4 times · Key brands IRN-BRU, Barr, Rubicon and KA collectively grew 6.0% · Intention to invest in increased production capacity in the south of the U.K. · Interim dividend of 7.30p per share (2010: 6.75p), an increase of 8.1% on the prior year