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Highlights: Operational · Substantially increased order book with tendering activities in Training Systems Division remaining particularly high; · Training Systems: awarded the Group's largest ever contract worth in excess of £10million for Maintenance Training Equipment for the AW 159 Lynx Wildcat helicopter; successful completion of upgrade of electronic classrooms used to train Royal Australian Air Force maintenance personnel on Hawk Lead in Fighter; ongoing support revenues; · Data Services: A new Professional Services Agreement with Capgemini UK PLC developing the next generation of Basic PAYE Tools to support the introduction by HMRC of Real Time Information into PAYE; ongoing work on rail sector contract with potential value in excess of US$2million to supply manuals and training on major programme for supply of rolling stock; · Software Services: continuing resilient revenues from five year contract with Canadian Department of National Defence for support to maximise effective use of OmegaPS; sale of new OmegaPS licences to Shenjang Aircraft Research and Design Institute of China; ongoing maintenance revenues from existing OmegaPS licences:

Highlights: Financial · Group revenues for the period of £4.96million (2010: £4.89million); · Gross margin of 40.5% (2010: 41.4%); · Operating profit of £279,000 (2010: £220,000); · Profit before tax of £272,000 ( 2010: £209,000); · Profit attributable to equity holders of £202,000 (2010: £189,000) after full tax charge of £70,000 (2010: £20,000 charge); · Earnings per share of 0.72pence (2010: 0.67pence); · Net cash at period end of £699,000 (2010: £1,026,000); · Interim Dividend of 0.5pence per share (2010: 0.25p per share);

http://www.investegate.co.uk/Article.aspx?id=201109050700075512N

Investec downgrades BHP Billiton from buy to hold, target price 2174p.

Chairman's Statement The Company has made strong progress in 2011 against a background of market uncertainties. In May the Company commenced trading on the Australian Stock Exchange with an accompanying capital raising of over $8.1 million from Institutional and retail shareholders. During this period the Company launched a takeover bid for all of the fully paid ordinary shares of Auzex Resources Limited in order to consolidate the Bullabulling Project under a single corporate entity. We also strengthened our Board with the appointment of David McArthur as our Financial Director. The Joint Venture completed a 35,000 metre Phase One drilling programme with the intention of converting a portion of the Inferred Resources into Indicated Resources. A new resource of 2.6 million ounces, including 711,000 ounces in the Indicated category was announced in August 2011. Since then the Joint Venture has embarked on an additional 90,000 metre Phase Two drilling programme which consists of 70,000 metres of infill drilling to further increase the Indicated category resource base with a view of converting these into Probable reserves, and 20,000 metres of exploration drilling.

Hi Lacey - I hope all is well with you

hmmm well I think there is alot of mileage in the SP from this level and I mean up!

Organic revenue miss for Kofax By Benjamin Chiou Date: Monday 05 Sep 2011 LONDON (ShareCast) - Kofax reported a 12% increase in total revenues to $243.9m (£151m) in the year ended 30 June, just shy of the $244-246m range the company expected. While this was a record level of sales, up from $217m the year before, it represented 10% organic growth on a constant currency basis, well below the firm's initial target of 14%, which it revealed it would miss in a trading update July. Chief executive officer Reynolds Bish said, "We experienced strong revenue growth during the first half of the past year but less during the second half." "As stated in our July trading update, we believe this slowdown was caused by longer sales cycles and decision making that emerged as a result of increasing uncertainty and volatility in the global economic environment. We expect these challenges to continue until more confidence and stability return to markets." Meanwhile, the FTSE 250 capture driven process automation solutions provider said that cost saving measures and the "ongoing prudent management of expenses" meant that adjusted EBITA (earnings before interest, tax and amortisation) jumped from $26m to $40.2m. Adjusted diluted EPS (earnings per share) rose to 31 cents, from 18 cents previously. Pre-tax profit surged 43.8% from $18.1m to $26m, while the total gross margin increased from 76.7% to 79.5%. The group said it will maintain its policy of not paying a regular dividend in order to invest in growing the business. "While it's difficult to provide precise guidance at the present time, during the current fiscal year we conservatively expect between eight and ten percent total revenue growth in US dollars on a constant currency basis," Bish said.

Templeton Emerging's NAV slides 9.26% in August Date: Monday 05 Sep 2011 LONDON (ShareCast) - Hong Kong/China and Brazil remain the preferred markets of choice of investment trust Templeton Emerging Markets. The company said that, as at the end of August, 25.6% of the value of its portfolio was in Chinese or Hong Kong quoted stocks, while Brazilian stocks accounted for 17.4% of net assets. The company's net asset value per share at the end of August stood at 628.67p, on an ex-income basis, down from 692.80p at the end of July. As for sector weightings, 25.9% of the company's total assets are accounted for by financial stocks, while energy stocks represent 21.7% of the net asset value. Consumer discretionary and Materials both check in at around the 17.5% mark, with Brilliance China Automotive the single biggest holding, accounting for 10.4% of net assets. Shares in the investment trust fell 16p to 571p in the morning session on Monday.

MARKET VOLATILITY AND OUTLOOK While growth in some emerging economies eased in 2011, most continued to record relatively strong GDP growth. Markets experienced a period of heightened volatility in the latter part of the quarter as focus shifted to debt restructuring issues in the Eurozone. The postponed disbursement of European Union (EU) funds to Greece coupled with political uncertainty in the country further raised concerns in June. However, the survival of Prime Minister George Papandreou in a vote of confidence, the passing of austerity measures by the Greek Parliament and promises of a second bailout from the EU in July reassured investors. Between 31 March 2011 and 30 June 2011, the net asset value of the Company decreased by 2.4% to 701.0 pence per share. The Investment Manager (Templeton Asset Management Limited), however, continues to see emerging markets benefiting from relatively good growth prospects, attractive valuations and solid fundamentals and will continue to monitor the markets for favourable investment opportunities.

JP Morgan Cazenove downgrades Filtrona from overweight to neutral, target price 366p

Investec upgrades ASOS from sell to hold, target price raised from 1665p to 2020p.

Brewin Dolphin downgrades Goals Soccer Centres from buy to hold, target price cut from 150p to 108p.

Peel Hunt downgrades Goals Soccer Centres from buy to hold, target price cut from 190p to 125p.

Panmure Gordon proved harder to impress, sticking with its "hold" recommendation and 1200p price target. it is, however, upgrading its forecasts for the year to April 2012: the profit before tax forecast moves from £155.7m to £165.2m, giving earnings per share of 93.2p and net asset value of 781p. Berkeley Group trades on a price-to-net-asset-value (PNAV) of 1.51, Panmure notes. "We believe the stock deserves to trade on both a premium to the sector and to NAV given the strong returns seen from the company. That said, looking at valuations across the sector at the moment, the current premium rating looks about fair," the broker concluded.

Northland Capital Partners reiterated its "buy" recommendation for the stock. "From here we see a further margin improvement as the lower cost land, acquired during the recession, starts to come into production. The overall reservations level is now 30% up on last year and, given the group’s approach to pricing and the better margin on new sites, this should be a significant driver of performance in the current financial year. This is supported by the group’s strong cash potential given its gross margin of over 28% and its £42m net cash position on 30 April 2011," the broker said. "With stronger site visitor levels, and a largely trade-up and overseas buyer market, the impact of restricted mortgage availability is less of an issue for the company. Nonetheless, it could fly if the shortage was overcome. The rating is a BUY and we see no reason to remove this stock as our favoured investment in the sector," the broker concluded.

CONT In respect of land bank investment, Berkeley has secured a further 7 sites in the quarter. Additionally, Berkeley continues to focus on adding value to its existing land bank from optimisation. Improved consents have been achieved in the period on a number of schemes, including sites in Battersea, Kew, North Bersted and Gillingham. These successes, coupled with further investment in work in progress, indicate that market conditions, as opposed to delivery, will be the most important factor in determining the extent of further growth in the business. Berkeley's emphasis on place making and putting the customer at the heart of every decision, coupled with a focus on London and the South East, has enabled it to outperform despite the well publicised wider market challenges we are experiencing. Our ability to produce homes and places where people want to live gives us confidence that we can achieve our return to shareholders over the long term.

At The Berkeley Group Holdings plc's ("Berkeley's") Annual General Meeting ("AGM") being held today, the Chairman, Tony Pidgley, will make the following Interim Management Statement, which covers the period from 1st May 2011 to 31st August 2011. Berkeley embarked on a five year plan in May 2010 to achieve the following near term operating targets during a period of recovery in the wider market. · Firstly, to achieve a compound return on equity, broadly equivalent to doubling profit before tax over 5 years; · Secondly, to grow the future gross margin in the land bank from £2 billion to some £3 billion in the same period; · Thirdly, to be the market leader in place making using the Building for Life criteria. With the full year results announced in June, the Board indicated its confidence that the business would maintain the reported rate of earnings growth and increase the value of the land bank in the current year. Additionally, the Board provided shareholders with long term visibility on both the timing and amount of potential returns, announcing its intention to return £13 per share (some £1.7 billion in total) over the next 10 years in a series of dividends payable on milestone dates in September 2015, 2018 and 2021. Since the original plan was announced in May 2010, trading has been ahead of management expectations and Berkeley has achieved a significant number of planning consents and invested in work in progress in line with its strategy. Together with the performance in the period since 1st May 2011, the Board believes that it is now positioned to achieve the profit target set in the five year plan at least 2 years earlier than originally anticipated, to the extent that market conditions prevail. Market conditions in the four months ended 31st August 2011 have enabled further growth in forward sales which are currently in excess of £850 million.

http://www.investegate.co.uk/Article.aspx?id=201109050700085760N

RYANAIR'S AUGUST TRAFFIC GROWS 6% NEW MONTHLY RECORD OF 8.14M PAX