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http://www.investegate.co.uk/Article.aspx?id=201107120700071870K

First half profits are in-line with expectations at Computacenter (CCC), the information technology provider announced in a trading update, as revenues climbed 6% on the comparable period a year earlier. The group reported considerable growth for product sales amongst its industrially orientated clients in Germany and France, 38% and 39%, respectively, but a decline of 23% in the UK which has a greater focus on financial services. The shares gained 5p to 465p.

In a move to focus on its core business, Wolseley (WOS) has agreed to sell its Electric Center business, which has net assets valued at 29 million pounds, for an undisclosed amount to Edmundson Electrical. "This transaction is in line with our strategy of focusing on businesses where we can create leading market positions", commented Ian Meakins, chief executive of Wolseley. The shares fell 62p to 1,912p.

bark - market jitters - we need to keep looking forward to the true potential - not easy just now I gant you.

Faroe Petroleum (FPM) had its "buy" recommendation maintained by Arbuthnot Securities, with an increased target price of 274p, up by 9p. The increase comes on the back of the sanctioning of two new projects, which add 3.2 million barrels to the oil and gas producer's reserves at its Njord site in Norway, and a higher than expected six month production rate of 8,400 barrels per day, 1,100 greater than forecast. The broker notes further that this level of extraction came despite technical difficulties and production should return to full capacity in the third quarter. Shares in the company dropped 6p to 164.25p.

Matrix reaffirmed its "buy" stance on Smith & Nephew (SN.) with a target price of 893p. The advanced wound management division should deliver stellar growth in the short-to-medium term, the broker stated, with the medical research and development company's Negative Pressure Wound Therapy showing strong results. The business is also showing steady growth in its orthopaedics department which Matrix forecasts will grow at a rate of 5% over the 2011 financial year, driven by knee sales. The shares edged down 4p to 669p.

Centaur Media (CAU) retained its "buy" rating from Singer Capital Markets, with a target price of 62p. The broker believes that shares - which fell after a restructuring announcement on 28th June - could bounce back if the trading update on 14th July is in-line with expectations of an adjusted pre-tax profit of 6.5 million pound. The restructuring itself should enable the business information firm to dispose of small sectors which are difficult to scale up, noted Singer, allowing the company to become more focused and grow faster. The shares slipped 0.5p to 46p

Following a recent rise in the share price Brewin Dolphin downgraded its recommendation for Hyder Consulting (HYC) to "add" from "buy" with a target price of 476p. While noting that the advisory and design consultancy remains in-line with forecasts, the broker said it approves of the move to initialise previously deferred projects in the Middle East. Additionally, Brewin believes the acquisition of ESR Technology, a specialist engineering and risk consultant, will give the company access to many new oil and gas clients. Shares in Hyder rose 5p to 410p.

05/07/2011 Ben Jaglom Reduce text size Decrease text size Increase text size Increase text size Print article Print Share this article Share Email article to a friend Email High-performance foams maker Zotefoams (ZTF) has warned that rising raw material prices have 'impacted margins in the short term.' In a trading update the fully-listed venture reported a 10% increase in like-for-like sales for the six months to July due to growth in sales of its Azote polyolefin foam products. Meanwhile sales of its high-performance polymers were described as being at a 'similar level to that experienced in the first half of 2010'. Concerning MuCell Extrusion - the foam company, which it acquired control of in March, Zotefoams remarked that the newly acquired business is 'trading in line with our expectations' adding that it is planning to invest further resources to 'support our medium term plans for growth.' Raw material prices were described as being 'significantly higher than the equivalent period last year' with the group observing that there have been 'certain supply related issues caused by high levels of market demand for polymer products worldwide.' However it insists that the company is 'trading in line with expectations' adding that it remains confident of its future prospects. Following the announcement analysts at Evolution updated their forecasts. Pre-tax profits of £5.2 million on turnover of £43 million are pencilled in for the year to December 2011 with EPS of 9.9 and 10.8p forecast for 2011 and 2012, respectively. Last recommended by Growth Company Investor this March at 138.5p the shares currently trade at 147p. Trading at a respectable P/E rating of below 15x times 2011 earnings, shares in the company have recovered strongly from a 2009 low of below 50p. Despite this as a long-term play, they have not gained a great deal of ground since our 2001 recommendation at 102.5p. We see little reason to change our earlier hold rating.

Matrix has maintained its positive stance on high street retailers Marks & Spencer and Debenhams after the British Retail Consortium's (BRC) Retail Sales Monitor for June came in ahead of estimates. Like-for-like sales fell by 0.6%, while total sales grew by 1.5%. “This is better than expected, and a big improvement on the -2.1% decline in May, although obviously not flagging an immediate revival in consumer spending across the board,” said analyst Tom Gadsby. With market share to be gained - after the closure and failings of many businesses - the broker has labelled Debenhams with a buy rating and 90p target price. Marks & Spencer, too, is also seen as a buy with a target price of 407p, and the broker expects an “improved picture” when it gives its first quarter report on Wednesday.

Bglobal provides smart energy meters. Backing the shares now is risky, but they’re cheap and the company is financially strong, with GBP4m in net cash at the bank. One for investors willing to speculate. Speculative buy, says the Independent

Received wisdom has it that in hard times people will cut their spending on their children before they make economies on their pets. Possibly so, but there is a suspicion that a decision to economise is behind a slowing in the rate of growth in sales of diet foodstuffs in the French, Dutch and Scandinavian markets for Dechra Pharmaceuticals. Dechra is an attractive way of investing in a robust sector of pharma but, with the shares on about 12 times’ this year’s earnings, the good news would seem to be in the price, the Times says. However, the Independent says buy. The US business is performing strongly, net debt is down and group revenues are up. They are also up in Europe. Moreover, at under 14 times forward earnings for this year and around 11 times on the estimates for next year, the valuation also remains attractive.

Halma provides a wide range of safety equipment including hazard detectors and sensors. While the shares are probably fairly valued, Halma’s fundamentals are solid, it has good growth prospects and its track record justifies a higher valuation than its peers’. This one will pay off for those who keep hold over the long term. Hold, says the Independent.

may seem perverse that Michael Page International’s job placement activities, a clear indicator of the state of the local economy, should be going great guns in mainland Europe and even in countries such as Italy and Spain, while in Britain the rate of growth is slowing. But this merely replicates the performance, as reported last week, of its smaller rival Hays. The shares are on a hefty forward multiple of more than 20 times’ earnings; although they remain a core holding, that looks high enough for now after their strong gains since last autumn, says the Times.

Ladbrokes‘ shares have suffered this year, by comparison with its main quoted peer, William Hill. One reason for this is William Hill’s symbiotic relationship with the gaming IT company Playtech, capitalising on its high quality online and mobile gaming services. The shares do not look expensive, says the Scotsman, which recommends buying the shares.

Hmmmmmmmmm - what goes on

and Additionally, Ovoca received notification today that Trikeri Investments Ltd. had acquired 4,600,000 Ordinary Shares of the Company on 8 July 2011. Following this acquisition, Trikeri Investments Ltd.'s interest in the Company is 4,600,000 Ordinary Shares, or 5.20% of Ovoca's issued share capital.

Sold at 40p?

Two Ovoca directors sell shares totalling £1.84m Two companies controlled by board members of Ovoca Gold have cut their stakes in the Russia-focused gold miner in two transactions totalling £1.84m. On 8 July, Salyco Trading Company, a firm controlled by Ovoca’s executive chairman Mikhail Mogutov, sold over 2.37m ordinary shares at a price of 40p per share for a total of £948,542.

Seymour Pierce reduces Hay target from 100p to 90p;