Member Info for mulledwine

Peel Hunt downgrades WSP Group from buy to hold, target price cut from 415p to 275p.

Gem Diamonds CEO, Clifford Elphick commented: "The supply demand fundamentals for rough diamonds look ever better. Increasing consumption of diamond jewellery in the US, China and India, the lack of significant new mines coming on stream and very low stocks of rough and polished diamonds in the cutting centres is being reflected in strongly rising prices of both rough and polished diamonds. Prices are extremely strong for rare, large high quality, good colour diamonds, of which Gem Diamonds' Letšeng Mine in Lesotho is the single largest producer. The strength in prices for Ellendale's rare fancy yellow diamonds which are sold to Tiffany & Co are also reflected in the 35.3% price increases in H1 2011. The group is generating substantial positive cash flow and progress with the Letšeng Expansion and the construction of the Ghaghoo mine in Botswana continues according to plan"

Group: · The pre-feasibility study for the Letšeng Expansion is nearing completion and a detailed presentation by Gem Diamonds management will be made on the Letšeng Expansion in London in early September 2011. · On 14 March 2011 the Gem Diamonds Board approved the first stage development of the Ghaghoo Mine in Botswana (formerly known as Gope). A temporary camp has been established on site; the main on-site Camp (catering for Phase 1 of the mine) is under construction and will be completed by year end. The contracts to complete the bulk earthworks and to construct the sand tunnel decline have been awarded. Work on the bulk earthworks commenced in July 2011 and should see the completion of the box cut and the portal by end October 2011. · The Group has US$167.4 million cash as at 30 June 2011 of which US$138.4 million is attributable to Gem Diamonds. · Group-wide All Injury Frequency Rate (AIFR) at half year is 4.55, which is well below both the 2011 AIFR threshold and 2008 - 2010 AIFRs. · The Group has recorded zero major environmental and community incidents this year.

Key Points: The first half of 2011 has seen record prices for rough diamonds. Letšeng: · Letšeng achieved a record average value of US$3 052 per carat in H1 2011[1] (US$1 728 per carat in H1 2010). · 30 rough diamonds achieved a value in excess of US$1 million during the period. · Letšeng produced 105 rough diamonds that were valued at greater than US$20 000 per carat. · Letšeng produced a total of 295 rough diamonds greater than 10.8 carats in size in H1 2011. · Letšeng has successfully implemented its downstream initiative. Ellendale: · Agreement has been reached for a 24.73% price increase as at 1 April 2011 for Ellendale's fancy yellow diamonds which are sold to Tiffany & Co. · A new pricing mechanism for the fancy yellows has been agreed. This will result in prices being updated monthly and has been back dated to 1 October 2010. · Ellendale achieved a record average price of US$4 045 per carat for its fancy yellow diamonds in H1 2011 (US$2 588 per carat in H1 2010) · Ellendale remains LTI-free since August 2009 and fatality free since being taken over by Gem Diamonds.

http://www.investegate.co.uk/Article.aspx?id=201107250700119463K

Pub company Marston’s has been holding its own despite the tough economic background and rising food and energy prices. The company, which has 2,100 pubs, is also well known for the Banks’s, Brakspear and Pedigree ale brands. For The Mail on Sunday´s Midas column, “existing investors should hold while new investors may find the current price of 104.5p appealing as supporters believe it should rise to 130p over the next year”. Midas says Buy.

Ian Holzberger, Executive Chairman, commented: "It has been a particularly satisfying quarter with strong progress made in respect of the planned development of the Runruno Gold project and a very satisfactory conclusion to the Solomon Capital takeover offer. "We are pleased to have Runruno Holdings Limited become a major shareholder and to have Baker Steel a leading independent natural resources investment group, significantly increase its shareholding in the Company. "The continued success of the step out drilling and regional exploration activities confirms the short and long term potential of this well mineralised system."

Highlights · Extension of the Runruno gold mineralisation south of the proposed pit confirmed by additional step out drilling. · The potential of the Magnetite Creek area for porphyry copper style mineralisation confirmed by drilling mapping and sampling. · Drilling confirmed the potential for the Bocboc area for Runruno style gold mineralisation. · Regional exploration continues to confirm the potential of the Runruno FTAA for further gold discoveries and for porphyry copper style mineralisation · Molybdenum recovery testwork continues to be positive using synthetic solutions. Testwork to be continued. · Planning for early works at Runruno progressing well. · Finalisation of Fixed Price Engineering and Procurement contract with Leighton Contractors at advanced stage. · Anticipate the issue of the Declaration of Mining Project Feasibility in the third quarter. · The Company confirms it will remain quoted on AIM. · 269,230,768 shares at 13p issued pursuant to the 8 March 2011 Shareholder Agreement and the exercise of Options by Solomon Capital Limited. · Baker Steel significantly increases its shareholding.

Yes slow but steady http://www.investegate.co.uk/Article.aspx?id=201107251045069758K

While they have underperformed the market in the last two years, and although not cheap in terms of its forward PE multiple, the Questor team at The Telegraph believes that shares of United Utilities remain a buy. The above is due to the long-term potential of the water sector and the security afforded by the company´s dividend payments

For meat packer Hilton Food Group growth is not easy to come by. Furthermore, the company faces cost pressures, the same as its entire industry. So, given that its shares have traded towards the upper part of their recent trading range, the Telegraph’s Questor believes that the time has come to take profits. Questor, therefore, now says sell.

Nice figures but the warning re outlook will probably mask them today

Commenting on the results, Mike Hickey, CEO of Wolfson, said: "In the first half of 2011, despite a challenging consumer electronics end-market environment, we grew our sales by 24%. However uncertainties around weakening consumer demand, slower end product sell-through and some customer product launch delays means we have moderated our overall revenue growth expectations for 2011. "Customer adoption of our audio solutions remains strong as the industry trends towards separation of the audio function from central processors in consumer electronic products into standalone audio devices where we are leaders. Our devices are increasingly being designed into the fastest growing consumer electronics products, including another new major smartphone platform. This continued design-in momentum should support a return to strong revenue growth in 2012, assuming a return to normal end consumer demand patterns."

Outlook Near Term · Wolfson anticipates that, as a result of previously announced customer new product launch delays and slower than expected customer end product sell-through, Q3 2011 revenues will be in the range of $37m to $44m · Q3 2011 gross margin is expected to improve to around 50% and full-year gross margin is expected to be around 50% · The Company is increasingly cautious about the challenging near-term consumer electronics environment. Since the trading update on the 27 June 2011, there has been a sharp reduction across a wide base of customers in their near-term forecasts, with uncertainties around weakening end consumer demand and poor visibility adding more risk to the second half of 2011. Wolfson now anticipates growth of less than 10% on a full-year basis, with the precise outcome dependent on timing of key customer product launches and overall end product sell-through · Given these near-term headwinds, in order to support Wolfson's near-term objective of mid-teens underlying operating profit margin the Company has initiated a cost reduction and R&D refocusing programme to save around $6.0m annually, for a one-off cash cost of $3.5m in H2 2011. This increases investment in Wolfson's Audio Hubs franchise, which is growing strongly, whilst reducing or postponing investments in lower growth or lower margin areas without impacting the Company's overall revenue opportunity Looking further ahead · Since the 27 June 2011 trading update, the Company has secured a new design-in on a Tier 1 smartphone platform and anticipates that this will contribute materially to revenue in 2012 · Underlying technology fundamentals continue to improve as the audio function is separated from central processors in consumer electronics products into standalone audio devices where the Company is a leader. This, along with Wolfson's continuing design-in momentum, including the above mentioned new smartphone platform, should support a return to strong revenue growth in 2012, assuming a return to normal end consumer demand patterns

Operating highlights for the first half 2011: · Sales grew 97% year-on-year in mobile phones (driven in particular by smartphones), gaming grew 95% and sales more than trebled in PCs/tablet PCs · Strong design-in momentum continued with nearly 200 new design-ins with both existing and new customers in H1 2011, 17% ahead of the 2010 run-rate and benefitting from industry trends to separate the audio function from central processors to standalone audio devices in consumer products · Launched 11 new products, including the world's first Audio System-on-a-Chip (SoC) integrating an Audio Hub with full noise cancellation and an Audio DSP for sound enhancements on a single chip · Market penetration with existing customers continues to progress with notable new Wolfson product adoptions in H1 2011 that include: o LG selecting Wolfson audio solutions for its G-Slate tablet PC and Optimus platform of smartphones o Samsung selecting Wolfson Audio Hubs for multiple new Galaxy models, including the new S2 Galaxy Z, the next generation Wave 2 platform, its latest tablet PCs and new portable media player o Significant design-ins from a major Japanese consumer electronics manufacturer for its tablet PC, eBook reader and gaming devices • Encouragingly, and further increasing market penetration, new customers are also adopting Wolfson products. Notable additions in Q2 2011 include: o Hewlett-Packard selecting Wolfson's Audio Hubs for its recently introduced TouchPad tablet PC and Veer 4G smartphone o ASUSTeK Computer Inc, a world-leading PC vendor, has selected Wolfson's Audio Hub for its new Eee Pad range of tablet PCs o Toshiba, a world leader in high technology, has selected Wolfson's Audio Hub for its new Thrive tablet PC o Two of the world's top PC vendors have selected Wolfson's audio solutions for their new tablet and notebook PCs o One of the leading global technology retailers has selected Wolfson's ambient noise cancelling stereo headset and these will be available across its network of stores in the second half of 2011 · These are in addition to the design-ins with new customers Research in Motion (RIM), ZTE, a Japanese phone manufacturer and a major mobile phone manufacturer announced in Q1 2011

Design-in momentum continues driven by increasing adoption of Audio Hubs Key financials for the first half 2011: · Revenue up 24% to $79.7m (H1 2010: $64.5m) · Gross margin of 47.3% (H1 2010: 51.3%) · Underlying* operating loss reduced to $3.9m (H1 2010: $6.1m loss) · Operating loss reduced to $6.9m (H1 2010: $10.9m loss) · Underlying* diluted loss per share of 2.5 cents (H1 2010: 3.7 cents loss) Key financials for the second quarter 2011: · Revenue up 7% to $38.6m (Q2 2010: $36m) · Gross margin in line with guidance at 47.4% (Q2 2010: 51.1%) · Underlying* operating loss of $2.9m (Q2 2010: $1.3m loss) · Operating loss of $3.5m (Q2 2010: $3.8m loss)

http://www.investegate.co.uk/Article.aspx?id=201107250700109454K

Expressing delight at the film's performance over the week, Nandu Ahuja, Sr. VP - Distribution - India, Eros International Media Ltd said: "We are ecstatic with the audience as well as critics' reactions to Zindagi Na Milegi Dobara. The superb run of the film in the first week, especially across multiplexes has superseded all expectations and we are expecting the film to continue its excellent performance in the coming week as well." Commenting on the film's overseas performance, Pranab Kapadia, President - Marketing & Distribution - Eros International plc added: "Zindagi Na Milegi Dobara has done incredibly well in all the overseas markets making this one of the highest grossing Hindi films so far this year. The tremendous response has been very encouraging with all major markets indicating remarkable box office results."

Eros International's Zindagi Na Milegi Dobara grosses US$18.7 million in first week Film features in UK Top 10 and US Top 20 Eros International Plc ("Eros"), a leading global company in Indian filmed entertainment, in association with Excel Entertainment, announces an exceptional first week performance for Zoya Akhtar's Zindagi Na Milegi Dobara ("ZNMD"). Since Eros International released the film worldwide on 15 July 2011, ZNMD has grossed US$18.7 million in its first week, with over US$14.86 million coming from India (Net Collection: US$10.36 million) and US$3.83 million from overseas. The film was widely released across more than 1,800 screens with maximum showcasing across multiplex screens. The film performed excellently in overseas markets also, featuring in the UK top ten at no. 7 and was ranked by Variety as number 15 in the US Chart's Top 20. On a per screen average basis, ZNMD ranked second, only behind "Harry Potter and the Deathly Hallows 2." The fun filled road film, which was shot on location across Spain, stars Hrithik Roshan, Katrina Kaif, Farhan Akhtar, Abhay Deol and Kalki Koechlin. The film opened to critical acclaim and a recorded outstanding opening weekend box office receipts of US$11.82 million (Rs. 52.50 crores) worldwide.

http://www.investegate.co.uk/Article.aspx?id=201107250700149467K