Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201109270700119558O

If the market were to look at the published figures only then this will be a very blue day but the outlook statement is slightly negative -

Mr. Xiaohong Yang, Executive Chairman, said: "This is an excellent H1 performance for HaiKe. Revenue grew substantially as a result of volume and price increases across most products within the Company. Margins have improved and consequently we have delivered a profitable performance which compares well with losses experienced in the same period of the previous year. The global economy continues to be tough and industry profitability is under pressure. Our actions to tighten costs, improve intra-Company synergies and a strategic move towards the less regulated and more profitable chemicals business will put us in a good stead to weather these issues".

Outlook l Global economy still weak and international oil market remains volatile creating some uncertainty on refinery business. The price spread between refined products and feedstock will be key to our performance l Chemical products business continues to expand but selling prices deteriorated due to a weakening global economy l Q3 underperformed and Q4 is traditionally a busy season for refineries and Haike's full year performance will be largely dependent on business generated in this quarter.

HaiKe Chemical Group Ltd. ("HaiKe" or the "Company"), the AIM quoted (AIM: HAIK) petrochemical, specialty chemical and biochemical business based in China, is pleased to announce its unaudited results for the six months ended 30 June 2011. Strong financial performance in H1 2011 l 71% increase in external sales to RMB5,441.0 million (H1 2010: RMB3,187.4 million) l Gross profit increased significantly to RMB248.3 million (H1 2010: RMB9.6 million) l Profit from operations rose to RMB153.9 million (H1 2010: loss of RMB69.1 million) l Profit for the period was RMB46.2 million (H1 2010: loss of RMB144.7 million) l The Board does not propose to pay an interim dividend in 2011 but will consider a final dividend in light of the performance for the rest of this year.

http://www.investegate.co.uk/Article.aspx?id=201109270700129590O

Preben Prebensen, Chief Executive, commenting on the results, said: "Close Brothers has made good strategic and operational progress during the year. We achieved a good overall result driven by the Banking division, whilst Securities achieved a solid performance in variable market conditions, and Asset Management has made significant progress on its strategic transformation. During the year we have exited a number of non-core businesses which leaves us with a more streamlined group and allows us to focus on growing and developing our core businesses in Banking, Securities and Asset Management. Economic and market conditions are uncertain, but we have a strong financial position, continue to see good prospects for our businesses and are well placed to continue delivering solid results."

Close Brothers Group plc announcement of Preliminary Results for the year ended 31 July 2011 Good strategic progress and operational performance in core business · Adjusted operating profit from continuing operations increased 13% to £131 million and adjusted EPS from continuing operations increased 11% to 64.8p · Strong performance in the Banking division with 34% increase in adjusted operating profit to £106 million, 18% loan book growth to £3.4 billion and an improved bad debt ratio of 2.1% · The Securities division delivered a solid performance in variable market conditions, and adjusted operating profit reduced 8% overall to £55 million · Asset Management recorded an adjusted operating loss of £9 million as it made significant progress with its transformation, with Private Clients AuM now at £6.5 billion Exit from non-core activities · Significant progress on strategic refocusing including sales of UK offshore business, Cayman Islands business and investment in Mako · Disposals and restructuring resulted in £47 million exceptional charges and £28 million loss from discontinued operations · After exceptional items, profit before tax from continuing operations was £79 million which translates into basic earnings per share from continuing operations of 29.6p Strong financial position and increased dividend · Strong funding and capital position maintained, with core tier 1 capital ratio of 13.1% · Full year dividend per share increased by 1p, or 3%, to 40p

http://www.investegate.co.uk/Article.aspx?id=201109270700219657O

Pubs group Mitchells & Butlers saw a 2.7% year-on-year increase in like-for-like sales (LFL) in the first 51 weeks of its financial year, though LFL growth has slowed to 0.5% in the 9 weeks to 17 September. Food sales at the bid target in the 9 week period were up 1.1% on a LFL basis, while drink sales edged up 0.2%. The group said the UK consumer environment remains challenging, while cost pressures are likely to endure into next year.

Commenting on the results, Jeremy Blood, Interim Chief Executive said: "Mitchells & Butlers is reporting robust results including our 34th consecutive quarter of like-for-like sales growth. This is a testament to the strength of the Company's sites, brands and employees. I would like to thank the 38,000 people in our businesses for their dedication, drive and continuing focus on delivering great customer experiences."

Outlook The UK consumer environment continues to be challenging. We expect cost pressures to remain next year especially from energy, duty and food. We continue to drive increases in productivity and cost effectiveness and have indentified a number of initiatives to offset inflationary cost headwinds. These initiatives are in areas such as menu improvements; drinks sales initiatives; gross margin management; IT costs; and organisation changes to improve efficiency and effectiveness. Overall, our focus remains on expanding and strengthening the business, lowering costs, driving sustainable revenue growth and improving customer experience as we better utilise our high quality sites and brands. We continue to make good progress towards achieving the objectives laid out in our March 2010 Strategic Plans and are confident in the future prospects of the business.

http://www.investegate.co.uk/Article.aspx?id=201109270700209652O

The publisher and information provider Reed Elsevier yesterday announced that it had agreed a deal to buy Accuity Holdings from the investment firm Investcorp. The acquisition is a pretty chunky one, coming in at £343m in cash. The companies said the deal would be earnings-accretive immediately. Bank of America Merrill Lynch has done the maths and said the deal implied revenue of about £120m in 2012 with earnings before interest, taxation and amortisation of £36m. In the publishing industry, Reed is among the top investment picks. Buy, says the Independent.

Not that long ago, you could not give away shares in Aggreko, the Glasgow-based temporary power supplier. Today, although the indiscriminate turmoil of world investment markets has seen the share price fall sharply from a peak of about 2,100p, they are still up by about 25% this year. Investors looking for exposure to a progressive improvement in global economic activity might wish to analyse the stock further. Buy, says the Scotsman.

Ricardo has never been busier turning out the sort of supercars that would seem to be out of the price range of anyone barring investment bankers and Russian oligarchs. The company’s performance products division, which is the part of Ricardo that actually makes things as opposed to advising how to, was behind a stellar performance from the group as a whole. The shares had motored until the inevitable slump this summer and now sell on less than 13 times’ earnings, which looks like decent value for such a quality business, says the Times

Acquisitions and future strategy Following the period end we acquired a majority stake in Shire Foods, a manufacturer of frozen pies, pasties and sausage rolls. We are working hard to put the business on a more solid foundation and some progress is being made in that regard, although, as in any turnaround, it is much too early to be confident of success. In August the financial markets started to fall as fears over the solvency of some European states, and banks, increased. Falls in, and the volatility of, markets is negative for the assets and businesses that we own, but conversely is very good for assets that we seek to buy. The current risk aversion of most investors and acquirers means that investment holding periods for us may be longer and the requirement to rely on our own sources of funding a sine qua non. I do not see any end in the near term to this investment environment.

Interim Results for the six months ended 30 June 2011 Volvere plc (AIM:VLE) the growth and turnaround investment company, announces its Interim Results for the six months ended 30 June 2011. Highlights · Consolidated net assets per share (excluding non-controlling interests) of £3.48 (30 June 2010: £3.18, 31 December 2010: £3.43) · Group net assets: £19.04 million (30 June 2010: £18.43 million, 31 December 2010: £20.08 million) · Cash and marketable securities: £18.45 million (30 June 2010: £20.77 million, 31 December 2010: £20.92 million) · Group revenue: £4.67 million (30 June 2010: £4.58 million, Year ended 31 December 2010: £8.98 million) · Group profit before tax: £0.92 million (6 months ended 30 June 2010: £0.15 million, Year ended 31 December 2010 (continuing operations): £0.94 million) · Investment environment challenging

http://www.investegate.co.uk/Article.aspx?id=201109270700139612O

Potentially saves money and expenditure for other pharma's - lets see if it makes some for CRX