Member Info for mulledwine

Xanth - howdy - hope all is going well for you in these turbulent times! obviously broker targets can only be taken as indications of a SP value al going well - however they do send out a little confidence for SMDR when all is crumbling around us - the potential is good when the economic turnaround comes. GL

Salamander Energy (SMDR) retained its "buy" rating from Arbuthnot Securities, but with a reduced target price of 392p, from 399p. The broker is disappointed that oil and gas company's Cat Ba-1X exploration well in offshore Vietnam did not contain a commercially viable amount of gas, and no oil at all, but notes that there was only a 20% chance of success. Despite this, Arbuthnot remains confident that Salamander presents a good opportunity, ahead of a active drilling programme in 2012. The shares lost 5.9p to 224p

kline - some good figures in the results - if overall market sentiment turns positive re world economic outlook then there is no reason why this ( and many others) wont rise on the back of that. http://www.investegate.co.uk/Article.aspx?id=201108300700151526N

1st September 2011 Analyst: Andrew Noone Email:andrew.noone@gecr.co.uk Tel: 0207 562 3361 Metalrax Group: Good Results - Better than expected reduction in net debt and pension deficit. Reiterate stance of buy at 8.25p with increased target price of 15.4p

Commenting on Go-Ahead's results, Chairman, Sir Patrick Brown, said: I am pleased with the performance of the Group this year. Despite facing challenging economic conditions in the last 12 months and the adverse weather in the first half of the year, all of our operations have seen growth in like-for-like passenger revenue and passenger journeys. Our bus and rail operations remain fundamentally strong and have benefited from passengers leaving their cars at home and choosing better value public transport alternatives. Our outlook for the next financial year has not changed since our trading update in June 2011. We are assuming that the broad underlying operating trends experienced in the financial year will continue throughout the financial year to 30 June 2012 and that around £13m of the rail contract management benefits achieved in 2011 will not recur. In bus, we anticipate that the performance of the business will remain strong despite the reduction in the Bus Service Operators Grant (BSOG) in April 2012 which will impact on the last quarter of the next financial year. Our fuel requirements are fully hedged for the next year at 41p per litre, in line with the cost in the financial year just ended. In rail, we will continue to drive revenue and control costs to help offset the challenges of reduced subsidies/increased premia in our franchises. Our balance sheet, cash flow and financing are strong and we continue to view the maintenance of the dividend as a priority. We have started the new financial year well and trading has been in line with the Board's expectations.

Highlights · Operating profit up 14% to £115.1 million · Continued strong cash management and robust balance sheet · Total dividend for the year maintained at 81.0 pence per share · Passenger revenue growth in bus and rail divisions · Further evidence of consumers switching from cars to public transport · New financial year started well and trading in line with the Board's expectations

http://www.investegate.co.uk/Article.aspx?id=201109010700113957N

An update from Pure Wafer (PUR), in which the group released details of new manufacturing facilities in response to a growing semiconductor market, saw shares rise 0.25p to 3.875p. The provider of silicon wafer reclaim services also explained that following the effects of the Japanese tsunami on its competitors, the group has gained significant business. The group was also able to agree a six month extension on the moratorium with its debt providers, assisting the group's increased working capital requirements.

Reduced license revenue and a significant investment in research and development saw Clarity Commerce Solutions (CCS) report a pre-tax loss of 1.44 million pounds for the year ended 31st March 2011, down from the software solution group's pre-tax profit of 1.44 million pounds a year earlier. In response to the trading environment the board has decided to re-position the business to optimise its position in key markets. Reportedly, the implementation of cost-cutting exercises has already shaved one million pounds from overheads since the year end. Clarity shares fell 1p to 14p

Ken Smith, CEO of Clarity, commented: "While the outcome for 2010 was disappointing due to significant order delays, we remain well positioned in our key markets. We are continuing to win new customers while existing customers place further orders with us. I am confident that by refocusing the business on the sectors which play to our strengths and the cost reduction plans already in place, we have established a basis on which to restore profitable growth".

Final Results for the year ended 31 March 2011 Clarity Commerce Solutions plc (AIM:CCS), a leading supplier of software solutions for the entertainment, retail, hospitality and leisure sectors , announces its Final Results for the year ended 31 March 2011. KEY POINTS · Revenues increased to £19.9m (2010: £19.1m). · Gross margin improved from 81.6% to 83.1%. · Reduced licence revenue and a significant investment in R&D resulted in an operating loss before amortisation and share based payments for the year of £893,000 (2010: profit of £1,856,000). · Loss before taxation of £1,435,000 (2010: profit of £1,439,000). · Following completion of major developments to the product suite, R&D costs expected to reduce. · Support business Cyntergy Services Ltd acquired in May 2010 - performing ahead of expectations. · Successful divestment of UK Hotels and Resorts business for net gain of £0.4m. · Net cash balance at year end of £0.2 (2010: £1.1m). · Group to refocus business on established strengths in the retail and entertainment sectors in order to better capitalise on opportunities for its market leading product suite. · Significant further operational savings identified. · Contract wins during the year included The Dune Group, House of Fraser, Iceland Foods, Bakker Bart, Whole Foods, Parques Reunidos, Debenhams plc and Universal Studios. · Change of financial year end to 30 September.

http://www.investegate.co.uk/Article.aspx?id=201108310700202796N

Commenting on the results, Michael Rosenberg, Chairman of Pilat Media Global plc, said: "Operationally, the second quarter's results were in line with our expectations. The Board is pleased to report good growth in revenues from Q1 and an increase on the previous year. With costs remaining in line with previous quarters there was a significant operating profit in Q2. It was particularly pleasing to see the renewal by Chellomedia and the extension of the use of IBMS into Eastern Europe. "We were disappointed with FOX TV Station's Inc. ("FTS") actions and are taking appropriate measures to deal with their allegations, which we believe have no substance. The results reflect our decision to provide for the sum of approximately £2.8 million carried in our balance sheet as an accrual for sums due from FTS pending clarification of the outcome of this situation."

Despite revenues at Pilat Media Global (PGB) increasing 4% to 10.84 million pounds in the six months ended 30th June 2011, a 2.82 million impairment resulted in a 1.7 million pound loss, down from a 344,000 profit in the previous comparable period. The impairment was made for a receivable from FOX TV following an ongoing litigation, however the outcome is still pending. On a positive note, the group signed a new contract win Chellomedia to extend use of Pilat's software, while extending its use in Eastern Europe, securing long term revenue streams for the group. Pilat shares lost 1.5p to 33p.

http://www.investegate.co.uk/Article.aspx?id=201108310700112703N

Seymour Pierce upgrades Bunzl from add to buy, target price raised from 775p to 800p.

Deutsche Bank initiates buy on Smith&Nephew, target price 775p

JKX Chief Executive, Dr Paul Davies, commented: "We have delivered a solid operating performance in the first half of the year while striving to complete our large Russian redevelopment project. Despite schedule delays, we anticipate production in Russia commencing by the year-end. We have achieved a key milestone in starting-up LPG production in Ukraine on schedule and on budget. Higher taxation in Ukraine this year and increased Russian project costs are impacting cash flow and the Board believes it is prudent to forgo a dividend payment at the interim stage. We expect our earnings for the year to be in line with expectations, and remain committed to delivering long term value for our shareholders."

Operational Highlights · Average production of 9,476 boepd (2010: 11,689 boepd) · LPG project in Ukraine completed on schedule and on budget · Koshekhablskoye construction project nearing completion · Progress made on the Group's exploration programmes in Ukraine and Hungary Outlook · Russian production now scheduled to come on-stream by year-end · Testing of initial Callovian appraisal well in Russia · On-going Ukrainian development drilling with exploration drilling on Zaplavskoye licence extension · Contract award of Rudenkovskoye multi-frac operation in Ukraine · Appraisal drilling on Tiszavasvari gas condensate discovery in Hungary

FOR THE SIX MONTHS ENDED 30 JUNE 2011 Key Financials · Revenue up 3% to $107.8m (2010: $104.5m) · Production based taxes increase to $33.0m (2010: $2.6m) · Operating costs reduced by 27% to $9.0m (2010: $12.3m) · Profit before tax: $32.7m (2010: $49.1m) · Earnings per share: 14.0 cents (2010: 20.7 cents) · Operating cash flow: $58.9m (2010: $67.2m) · Capital expenditure up 48% to $101.0m (2010: $68.3m) · Cash resources: $63.6m (2010: $107.2m) · Total borrowings: $58.9m (2010: Nil) · Interim dividend passed