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Justin Atkinson, Keller Chief Executive, commented: "Major infrastructure projects such as these, requiring complex solutions, play to our strengths as a global, high-capacity provider. "These three contracts, which will draw on combined Group resources and our considerable experience of large-scale tunnel stabilisation projects around the world, demonstrate the synergies between our businesses, particularly when it comes to co-operation on large projects."

Keller Group plc ("the Group"), the international ground engineering specialist, announces that it has been awarded two major contracts relating to the main tunnels for Crossrail, the new east-west railway link to be built under Central London. Keller UK ("Keller") has been awarded the compensation grouting works at London Underground's Tottenham Court Road and Bond Street stations. The contract covers the installation of over 50 kilometres of specialist pipe, through which grout will be pumped whilst the tunneling works are in progress, to mitigate any ground movement and protect the existing infrastructure. Keller has also been awarded a contract for structural monitoring, geotechnical instrumentation and surveying works, employing the Getec monitoring system which was originally developed by Keller in Germany and recently introduced into the UK. The two contracts will be undertaken in joint venture and have a combined value to Keller of around £30m. Work on both will begin shortly and will run through to 2014. These follow the award of a £37m contract in June for grouting works for the Victoria Underground Station upgrade, which will start in late 2011 and will be undertaken with support from other Group businesses in Europe. Taken together, the three contracts significantly improve the prospects of the UK business, which has faced extremely challenging market conditions in recent years.

http://www.investegate.co.uk/Article.aspx?id=201108170700084750M

Arbuthnot Securities maintained its "buy" stance on Renew Holdings (RNWH), with a target price of 112p. The broker says that specialist engineering services provider's exposure to power and the environment will benefit from new regulatory drivers, particularly in the nuclear sector which will is likely to face new policy changes in the UK. Additionally, trading on a price to earnings multiple below 6 times, Arbuthnot thinks the company's acquisition of construction group Amco has not been factored into the price.

Evolution Securities reiterated its "buy" recommendation for Bumi (BUMI), with a target price of 1,437p. The broker believes the mining group has shown solid production capabilities, generating revenues of 478 million dollars (289.6 million pounds), and attributes the reported 296 million dollar (179.3 million pound) loss to a one off negative fair value adjustment of 319 million dollars (193.3 million pounds). Additionally, Evolution expects the company to achieve savings through the integration of its supply chain and coal assets

Lookers (LOOK) retained its "buy" rating from Panmure Gordon, with a 60p target price. The car dealer reported adjusted pre-tax profits of 22.6 million pounds for the first half of the financial year, ahead of the broker's forecast of 22.5 million pounds. The broker also notes that the company outperformed the market, with new car volumes falling 7.1% against a reduction of 18.1% across the sector. Panmure expects the group to do well in future, with its exposure to brands such as Land Rover, which has a sizable order book for its new Top Gear approved Range Rover Evoque.

Very nice results - wish I had been able to buy at the recent 240s -

Outlook We continue to live in an economically challenged world where growth is uncertain. For Xaar, the successful expansion of our manufacturing capacity, as planned, will represent a major milestone achieved. Although uncertainties remain, we believe that the market for P3 products will continue to be strong and that our new manufacturing capacity will enable us to capitalise on this demand. Our competitive advantage is the result of supplying a product capable of delivering significant benefits to our customers in selected segments of the inkjet printing market. Although we assume that competition will develop over time, the barriers to entry are high and we believe that our disruptive technology, combined with our management experience, technical skill, talent and resources, will enable us to maintain our competitive edge for a sustained period.

Chairman, Phil Lawler commented: "Our sales performance in the period has validated our confidence in the market potential for P3 products and we are pleased to report that our capacity expansion programme remains on track. We are excited about the opportunities that have emerged and are committed to pursuing them."

Key points o Strong financial performance; revenue up 33% over H1 2010. o Growth driven by Platform 3 (P3) products for industrial applications. o Profitability has increased with both gross margin and profit before tax substantially up over H1 2010. o The Huntingdon expansion programme for P3 production is on track to deliver further capacity increases during H2 2011 and H1 2012. o The market for Platform 1 (P1) products is showing signs of maturity with sales reducing against H1 2010.

http://www.investegate.co.uk/Article.aspx?id=201108180700095647M

ENRC Gets Profits BoostsAugust 17 2011 -Shares in Kazakh mining giant ENRC jumped 3% on Wednesday after it posted a sharp rise in profits and revenues for the first half of the year. Revenues were up by 32% from the same period the previous year at $4bn while earnings before interest, depreciation and amortisation (ebitda) climbed by 33% to $1.9bn, the miner said, pointing to continuing growth in demand in Kazakhstan’s neighbour China. Production remained at full capacity across the company, ENRC, whose commodities include aluminium, copper and cobalt, said. The iron ore division contributed 43% of the group's total Ebitda. The company said it expects to see greater volatility in commodity markets in the near term, but that strong growth in China and low production costs should underpin strong trading for the company. ENRC expects its traditional markets in North West China to continue growing, while a new railway in China due to open at the end of 2012 will provide more opportunities. It has also been pushing growth outside Asia. “We are developing our assets in Africa and Brazil, which promise to deliver significant growth and value in the coming years, as well as continuing our investment in Kazakhstan,” the company said. The company’s shares have been rocked this year by the departure of several non-executive directors critical of the firm’s governance. ENRC did not give much of an update on this, with chief executive Felix Vulis telling reporters: "I can report that the Board corporate governance review, announced at the AGM, is well underway. We are confident that the review will result in the right Board needed to lead the Group through its next growth phase."

SAB Miller Goes Hostile With Fosters' BidAugust 17 2011 - SAB Miller has turned hostile with its $10bn takeover bid for Australian rival Fosters after failing to persuade the target’s board to negotiate two months after the UK-listed brewer made its initial offer. SAB Miller shares rose 1.3% after the company said it was taking the bid directly to Fosters’ shareholders. SAB Miller said in a statement that it believed “the proposal put to the Foster's Board is attractive and should be put to Foster's shareholders. As there has been no willingness to engage in relation to SABMiller's proposal on the part of the Foster's Board, SABMiller has decided to make an offer to Foster's shareholders directly.” The Financial times said that the aggressive move by the world’s second-largest brewer by sales surprised analysts, who had expected the group to wait until after Foster’s reported full-year results next Tuesday. SABMiller may have been spurred to action by the view among some analysts that Foster’s will report weak full-year numbers including a decline in beer profits. SABMiller’s hand has also been strengthened in recent weeks by the global stock market sell-off which saw Foster’s shares fall earlier this month.

Neil Bleasdale, Chairman of Andes and President of EDEMSA, commented, "The successful completion of this transaction has reduced significantly EDEMSA's exposure to any devaluation of the AR$ against the US$. EDEMSA now only has US$ denominated debt of approximately US$6 million. This gives EDEMSA a high level of financial flexibility and the ability to implement our growth plans. "

Total Return Swap The Board of Andes (AIM: AEN; BCBA: AEN), the Latin American energy group, is pleased to announce that EDEMSA has entered into a syndicated loan agreement for AR$144,000,000 (one hundred and forty four million Argentine Pesos). The loan will be repayable in ten consecutive equal quarterly instalments with the first repayment due 9 months after drawdown. The interest rate is fixed for the first year and thereafter at a variable rate linked to the Central Bank of Argentina benchmark rate. EDEMSA has drawn down the full amount in a single disbursement, which will be used to refinance existing debt, accelerate the implementation of work plans and provide working capital. Part of the funds have been used to buy back EDEMSA bonds ("Bonds") with a carrying value representing approximately 90% of the Bonds in issue. As a consequence Andes has exercised the early termination option under the Total Return Swap with Deutsche Bank AG ("TRS") and has terminated the Total Return Swap Participation agreement with Magnus International S.A.. The Company has no further obligations under these agreements and the pledge of 80% of Andes's indirect interest in Andes Energía Argentina S.A., as collateral under the TRS, has been released.

http://www.investegate.co.uk/Article.aspx?id=201108180700115673M

Commenting on the results, Dr Axel Müller, Chief Executive Officer, said: "The Group made significant progress on the delivery of its strategy in the first half of 2011. As anticipated, revenues and operating profits were lower than in the first half of 2010, due to substantial non-recurring revenues in 2010, but profitability remained in line with the Board's expectations." "The review of Flutiform™ in Europe is well advanced and preparations are continuing for its potential launch in initial markets later this year. Good progress continues to be made with two Phase III clinical trials of Flutiform™ in Japan and the Japanese New Drug Application is expected to be filed during the fiscal year ending March 2013. In July, we were pleased to announce the licensing of Flutiform™ for Mexico, Central and South America to Sanofi, the leading pharmaceutical company in Latin America." "The Group is also making good progress in several other important areas: the lease of our Lyon manufacturing facility to Aenova is expected to improve utilisation of the plant and the amended agreement with CRC enhances our liquidity position and will assist with funding the working capital requirements of the Flutiform™ supply chain. We expect total revenues for the full year will be similar to 2010 if Flutiform™ is approved and launched in its initial markets in Europe this year."

Operating Highlights · Review of the European Marketing Authorisation Application ("MAA") for Flutiform™ continues to progress and preparations are continuing for its potential launch in initial markets later this year · Phase III clinical trials of Flutiform™ in Japan continue to make good progress · Second milestone of £1.5m received from GSK on the commencement of Phase III trials of an inhalation product incorporating some of the Group's technology · Development and Marketing Agreement for Flutiform™ signed with Sanofi for Mexico, Central and South America · Manufacturing alliance formed with Aenova to improve utilisation of the Lyon Facility · Agreement with CRC to defer prepayment out of Flutiform™ milestones in return for higher interest rate enhancing the Group's liquidity

Financial Highlights · Revenues down 25% to £22.1m compared with H1 2010 (£29.3m) which benefited from substantial non-recurring revenues · Full year revenue expected to be similar to 2010 if Flutiform™ is approved and launched in initial markets · Operating profit in line with Board expectations, down 69% to £2.7m (H1 2010: £8.6m), reflecting the non-recurring manufacturing revenues in the prior year · Net profit after tax of £0.4m (H1 2010: £0.9m) · Cash and cash equivalents of £20.8m at 30 June 2011 (31 December 2010: £29.0m) · Continued investment in R&D in preparation for the anticipated launch of Flutiform™ later this year

http://www.investegate.co.uk/Article.aspx?id=201108180700125687M