Member Info for mulledwine

Greene King (GNK), the pub operator, saw sales rise by 6% to 1.043 billion in the 52 weeks to 1st May 2011. This was driven by like-for-like food sales up by 8.1% and total like-for-like sales up by 4.9%. Despite the difficult consumer environment the firm made record pre-tax profits of 140 million pounds for the year. Analyst Simon French at Panmure Gordon reiterated his "buy" recommendation and 540p target price on the news.

Medical device manufacturer ClearStream Technologies (CTN) has received CE Mark approval for changes made to transfer the coating process of its Intrepide drug eluting stent to its manufacturing facility in Ireland and to improve retention of the Intrepide on its delivery catheter. Approval will enable ClearStream to deliver initial restocking orders before the company's year end with further orders slated for the next financial year, when the re-launch of the product is expected to have a material impact on the results

Commenting on the previously announced re-engineering of Omani Corvettes due to sea trails, Evolution Securities notes that this will impact profitability at BAE Systems (BA.) by 160 million pounds, due to the cost of refitting engine cooling pipes as well as penalties for delays. The broker therefore made a downward adjustment to its forecasts but retained its "add" stance, noting that the defence group remains at a discount of around 19% to US peers despite better exposure to emerging nations. Evolution also sees upside to the stock given the "significant opportunities for Eurofighter in India and other markets along with a stable and potentially growth Land and Armaments division."

Despite a positive pre-close update for the first half, Brewin Dolphin downgraded its stance for Senior (SNR) from "buy" to "add" following recent share price strength. However, the broker increased its target price from 185p to 198p, believing that "market conditions in Truck and Business Jet should continue to improve throughout 2011 and into 2012," while "medium term growth is underpinned by the well trailed aerospace programme increases." Brewin therefore maintains its view that Senior should be a core holding in the industrialsector.

Panmure Gordon retained its "buy" stance for Marston's (MARS) with an increased target price of 130p, up from 120p. While noting that the brewer has underperformed the the FTSE All-Share index by around 7% during the first half of 2011, Panmure believes management is "quietly making significant strides to reposition the group to achieve a more balanced earnings profile, drive earnings growth, improve returns and reduce leverage whilst maintaining and subsequently growing its best-in-class dividend."

Completion of PT Turnkey Services acquisition Playtech (AIM:PTEC), the international designer, developer and licensor of software to the online, mobile and land-based gaming industry, is pleased to announce that further to the announcement of 10 March 2011, the Company has completed the acquisition of PT Turnkey Services Limited. Integration of the businesses is anticipated to be completed by the end of 2011.

John Teeling, Chairman, commented: "Our ongoing operations in Botswana are producing interesting results. On the very positive side a review of micro-diamond work done on the AK9 kimberlite prior to our bulk sampling programme starting, suggested that below the thick basalt and overburden layers up to 90 metres thick, that grades of over 100 cpht might be present. There is evidence that grades from prior work were diluted by basalt. We now intend to test the grade with one or more core holes 300 metres into the kimberlite. The second piece of encouraging news is that preliminary results from bulk sampling AK8 has produced a population of bigger diamonds than anticipated. This has positive implications for value per carat but the overall grade in the sample is below expectation, likely to be 5 cpht or less when the programme is completed. BK5 is a disappointment. The surface material produced no diamonds when processed. We have now completed a bulk sample of fresh kimberlite and it is being analysed. The potential unearthed in AK9 offers exciting upside potential which is over and above what we expected when we started this programme."

Update on Exploration Activities in Botswana The focus of our current exploration programme in Botswana is to refine the grade per ton and value per carat of diamonds discovered by prior work in kimberlites AK9, AK8 and BK5. During a review of earlier work on AK9, prior to beginning the bulk sampling, it was discovered from an analysis of micro diamonds that a potential high grade kimberlite could exist under the overburden and basalt layer. The historic overall grade of 2.5 to 3.5 cpht could be low due to basalt dilution. The 3 hectare AK9 kimberlite has significant overburden and high basalt dilution to a depth of at least 90 metres. The micro diamond analysis of the undiluted kimberlite indicates the possibility of grades of between 80 - 160 cpht. This transforms the potential of AK9. We are preparing to drill one or more core holes to a depth of 300 metres to test the kimberlite. On AK8 the first pass processing of the bulk sample is complete. The recovered stones are larger than anticipated which should result in higher value per carat but the grade is below expectations. The tailings material will be recrushed for final recovery. The anticipated final grade is now expected to be 5 cpht or lower. The processing of the historic stockpile material on BK5 produced no diamonds during first pass processing. An additional bulk sample of 1,000 tons was excavated and is now being processed. A full report on both AK8 and BK5 kimberlites can be expected by mid August. Application was made on 16 March 2011 to the Geological Survey of Botswana to extend the life of two licences PL04/2002 which contains AK8, AK9 and BK5 and PL07/2004, both of which were due to expire on June 30th. The application was well received. We are informed that the paperwork granting the extension is being processed and will be issued in due course. A thorough review of available ground in Botswana has led to application being made for a number of additional areas.

http://www.investegate.co.uk/Article.aspx?id=201107010700065226J

Gerry Murray, Chief Executive Officer of Dods, said: "The acquisition of Politics Home greatly enhances Dods' position within the wider political information market. PoliticsHome is very widely read within the Houses of Parliament and is integral to our plans to develop an online engagement tool for MPs. This is in line with the strategy of migrating our content from printed to digitally delivered products." Paul Waugh, who is to continue as editor of PoliticsHome, said: "This is a great moment for PoliticsHome, which started life as a small enterprise just three years ago. Our minute-by-minute coverage and reputation as Westminster's leading political news website is a perfect fit with Dods' extensive Parliamentary and commercial contacts and resources. I look forward to making our service even faster, even more comprehensive and ever more ahead of the curve." The acquisition is a related party transaction pursuant to the AIM Rules for Companies, because the ultimate controlling party of Political Investments Limited and Politics Home Limited is Lord Ashcroft KCMG, who has a substantial interest in the Company. The independent directors (being the directors other than Andrew Wilson), having consulted with the Company's nominated adviser, consider that the terms of the acquisition are fair and reasonable insofar as Dods' shareholders are concerned.

Dods (Group) plc ("Dods" or the "Company") Acquisition Dods acquires political news website - www.politicshome.com. Dods announces that it has acquired the business and assets of PoliticsHome, the political news aggregation website, from Political Investments Limited and Politics Home Limited, companies of which Lord Ashcroft KCMG is the ultimate controlling party. Following the acquisition, PoliticsHome will form part of Dods' Parliamentary engagement product suite. No consideration is payable on completion, with contingent deferred consideration (up to a maximum of £2m) being payable in cash in 2014, based on certain revenue targets for Dods' Parliamentary engagement product suite for the year ending 31 December 2013. PoliticsHome (www.politicshome.com) aggregates political news from a wide range of major media sources (print, digital, radio and TV) to provide a news portal for the political market. Led by its editor, Paul Waugh, the site has established itself as one of the most up to date sources of UK political news, and also as a key indicator of the topical political stories and how they are trending. In the year ended 31 December 2010, PoliticsHome had revenues of £0.1 million and a loss before tax of £0.5 million. PoliticsHome had gross liabilities of £0.7 million as at 31 December 2010.

http://www.investegate.co.uk/Article.aspx?id=201107010700054815J

Rightmove (RMV) It may just be me, but there really needs to be a shake up of the way that house prices are measured. Leaving it to the Land Registry might be best. As far as online estate agent Rightmove is concerned it can be seen how there has been a relentless uptrend here via a rising trend channel from the end of October. The base here looks to be the blue 50 day moving average at 1,069p and while above this on a weekly close basis the upside for the stock is seen as being as high as the 2010 price channel top of 1,300p on a 1-2 month timeframe. So reckons Zak Mir

Arbuthnot reiterates buy Costain Group, target price reiterated at 400p

http://www.investegate.co.uk/Article.aspx?id=201106300700184025J

Berendsen profits to rise as Europe shines Date: Thursday 30 Jun 2011 LONDON (ShareCast) - Berendsen, the workwear rental group formerly known as Davis Service Group, says it expects first half pre-tax profits to be “significantly” ahead of the same period last year after seeing revenue growth of 2% and an improvement in operating margin. Berendsen said its performance in continental Europe was better than expected, with Holland seeing growth and margin improvement, the benefits of restructuring in Germany starting to appear, Sweden performing strongly and Denmark showing signs of improvement. The UK textile business saw “modest” revenue growth. “The board anticipates a continuation of the current trading trends into the second half of 2011,” Berendsen said. “Our medium to longer term ambitions for the group remain in place as the benefits of various strategic review initiatives are achieved.” Berendsen, which operates the Sunlight brand in the UK, has operations in more than a dozen countries.

RBS reiterates buy Spirent, target price reiterated at 182p.

Espirito Santo reiterates buy William Hill, target price reiterated at 257p.

artful - hi - I know very little about PSPI - a quick look at the chart showed it dropped below the 65 level from where it has bounced in the last 2 years - if you hadnt got todays rise taking above 65 ( at this time) then I would have been thinking it was on its way down to the next support level , however it may have turned about just in time. I will have a quick look over the weekend but as I say apologies but its really a totally new share to me. GL

Statement in Response to Melrose Announcement 30/06/2011 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION In response to the announcement by Melrose PLC ('Melrose'), Charter International plc ('Charter' or the 'Company') confirms that it has received a highly preliminary, unsolicited proposal from Melrose regarding a possible 780 pence per share equity and cash offer for the Company which is conditional on, inter alia, financing and due diligence. The Board of Charter reviewed the proposal with its advisers and rejected it. The offer is opportunistic and substantially undervalues the Company and its prospects. The Board is confident in Charter's strengths and is committed to maximising shareholder value. Note 7 of Rule 2.4 of the Code requires the Company to point out that this statement is being made by the Company without the prior agreement of Melrose and that there can be no certainty whether any offer will be made.