Member Info for mulledwine

The latest financial year marks a decade of operations for the communications group Creston, and boss Don Elgie was popping the champagne corks yesterday. He said 2011 had been a “significant and successful year” with revenues up 7% to GBP67.8m. At 6.7 times forward earnings, the stock is cheap. Buy, says the Independent.

Playtech, the AIM-listed gambling software group yesterday announced a licensing agreement with the California Online Poker Association (Copa), which is made up of a coalition of Native American governments and licensed card rooms in the Golden State. Its Sciplay International joint venture will also provide Copa with “play-for-fun” internet games. These deals provide Playtech with a firm foothold in the market for when – and it is only a question of when – the US government legalises online gaming, not least for the tax revenues. Buy, says the Independent.

RPC Group, formerly Rigid Plastic Containers, makes basic receptacles for various consumer products. The cost of polymers is about a third of the company’s turnover, and prices rose by 20% the last financial year to the end of March, continuing to increase thereafter. RPC reckons to be able to pass on those increases to customers such as McBride, albeit with a delay and an inevitable impact on margins. The shares, up 10p at 354¾p , are selling on about 10.5 times’ forward earnings, but this suggests no real reason to chase, says the Times.

Halma, the maker of a range of safety equipment — sensors and the like — aims to double in size every five years by using its strong cashflow both to invest in existing businesses and to buy new ones, while also offering investors dividends rising at 5% or more. The shares have come on by 45% over the past year and sell on a hefty 16 times this year’s earnings, while offering a prospective yield of about 2.5% . This looks high enough for now, the Times thinks.

As defence budgets in developed markets come under pressure as a consequence of government spending cuts, Chemring is in the almost unique position of being a UK defence company with significant organic growth opportunities. We expect further earnings enhancing acquisitions to be made over the next year. Previous purchases have demonstrated management’s ability to generate significant operating improvements. We feel that the market has failed to recognize the growth opportunities available. Buy says the Scotsman.

The Capital Pub Company posted annual profits up 48% yesterday and came out fighting after news on Friday that it had received two takeover approaches in as many months from Fuller, Smith & Turner. Capital, which grew profits to GBP4.1m in the year to March, has real momentum, though its shares now trade on a forward earnings multiple of 16. Some City analysts believe Fuller’s may come back with a bid in excess of 250p, but we are not convinced of the rival’s appetite extending to much beyond 200p. Hold, says the Independent.

Interim Management Statement Braemar Shipping Services Plc today issues its Interim Management Statement covering the first quarter of the financial year beginning 1 March 2011. At the Braemar Shipping Services plc Annual General Meeting held today, Alan Marsh, the Group Chief Executive, provided the following update on the Group's trading after the first quarter of the new financial year. While both tanker chartering and dry bulk freight rates are likely to remain subdued as a result of the new tonnage being delivered from the shipyards, we have recently seen signs of increased volumes in the crude sector, particularly from the Middle East, which should improve freight rates for the large tankers. The Baltic Cape Index which stood at 1,310 on 28 Feb 2011 has now risen to just under 1,900. After a slow period at the end of the financial year, our second hand sale and purchase and demolition business has picked up considerably, taking an increased share of the market and we are sensing a greater level of buying interest in many sectors. Our growing presence in Singapore in both sale and purchase and chartering has already allowed us access to business which would not have been available to us without our enlarged activity there. The weaker US dollar, if it persists, is likely to have some effect on earnings. Last week I spent time with my colleagues in Australia visiting some of the mining companies there and am encouraged by the expected increase in their iron ore production which should enhance our activities in this sector. The Technical division has started strongly with increased activity in most business lines. The new hull and machinery surveying business Braemar Technical Services (incorporating The Salvage Association) which the Group acquired in May, is also trading well and its integration is proceeding according to plan. The Logistics and Environmental divisions have started slowly but we remain optimistic. Overall the Board remains confident of a satisfactory outcome for the year as a whole.

http://investegate.co.uk/Article.aspx?id=201106221200019050I

Clive - apologies - old age and that ---- didnt realise my post was part of yours

Andrew - some info re background to 'offer' "Last week Global confused investors with news of a cash offer at 72p a share. This was triggered after a forced seller allowed shareholder Lyford to pick up a 9.7 per cent stake at just 59.2p a share, this in turn meant (under the rules of the Takeover Code) that an offer had to be made due to the link Lyford has with Global's largest shareholder HKN - a US listed oil company. Global directors have refused to back the offer, stating it 'materially undervalues' the company, indeed the intention is to maintain the AIM listing to deliver a more realistic market value." "

Commenting on the well results, Yogeshwar Sharma, Chief Executive Officer of Hardy said: "We are encouraged by this discovery which extends the proven Miocene play fairway into the frontier D9 block. The discovery further enhances our understanding of the block's petroleum systems and reinforces our enthusiasm for unlocking its hydrocarbon potential. The D9 joint venture expects to drill the fourth exploration well prior to the end of 2011. "

Gas Discovery on D9 Block Hardy Oil and Gas plc (LSE: HDY), the oil and gas exploration and production company focused in India, is pleased to announce its first gas discovery in the exploration well KG-D9-A2 within the D9 licence. The well KGD9-A2 was drilled to a total depth of 4,881 m MDRT with the objective of exploring the play fairway in the Early and Late Miocene Channel Levee Complex in a water depth of approximately 2,700 m. Three sand reservoirs with a gross thickness of approximately 22 m were encountered and evaluated by wireline MDT. This discovery, named 'Dhirubhai - 54' has been notified to the Government of India and DGH. The potential commerciality of this discovery is being ascertained through more data gathering and analysis. This play fairway is expected to cover a considerable area within the block. The D9 exploration licence is located in the Krishna Godavari (KG) Basin on the East Coast of India and presently covers an area of approximately 8,695 km2. Hardy holds a 10 percent participating interest in the licence which is operated by Reliance Industries Limited. The licence's minimum work programme provides for the drilling of four exploration wells.

http://investegate.co.uk/Article.aspx?id=201106220954378942I

More info re deals Director's dealing in shares The Company was today informed that John Ballard, a non-executive director of the Company, yesterday purchased 200,000 ordinary shares in the Company at a price of 14.8 pence per share. Following this transaction Mr Ballard will hold a total of 400,000 ordinary shares in IFL representing 0.072% of the Company's issued share capital.

Citigroup reiterates hold on Ashmore Group, target price raised from 350p to 385p

Citigroup reiterates hold on F & C Asset Management, target price cut from 90p to 77p

Citigroup recommends buy Jupiter Fund Management, target price cut from 325p to 300p

Valuation Analysts at house broker Brewin Dolphin are forecasting a £300,000 increase in pre-tax profits for the year to September to £3.2 million on sales of £26 million (2010: £25.2 million.) Furthermore, EPS of 16p and 18.4p are forecast for 2011 and 2012. Trading at its current price of 235p the shares trade at 14.7 times 2011 earnings and 12.8 times 2012 earnings. In addition, a dividend per share of 7.7p and 8.7p are forecast for 2011 and 2012, a yield of 3.3 per cent and 3.7 per cent respectively on the current price. Trading well below the sector average and having benefited immensely of late from interest in its niche technology, the company looks well placed to grow its touch sensor division, and with it its profits. Boasting an impressive list of big-name clients such as Coca-Cola and Bosch, the possibilities for the company are only restrained by the imaginations of the companies with which it works, with the chance to work with a number of vending machine operators in particular likely to stir the imagination of investors. As a long-term investment and paying a respectable dividend, we think the shares are well worth buying and not touching for a while.

Group NBT HOLD 17/06/2011 Miles Nolan 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 Domain name management specialist Group NBT (NBT) is the market leader in Europe, with a host of blue chip clients using its services. In December the AIM listed counter acquired Paris based Indom, and is well entrenched in the integration process as it restructures operations. Though further corporate activity is likely the plan for the coming months is on further organic growth - a process that is readily achievable due to the ever changing needs of clients. Group NBT is enjoying a recovery in its markets with domain name management the key focus. In the six months to December sales edged up 4% to £22.6m as pre-tax profits dipped 5% to £3.36m - largely due to the absence of large domain name transactions. Corporate brand services account for half its sales, and in this arm interest is increasing for brand protection products. In managed hosting attrition rates are slowing, with an ongoing shift to cloud computing. Group NBT has signed new partners to help boost sales, moreover it has maintained a strong expertise in managing country code domain names. There are currently over 200m registered domain names, of which 70% are registered by companies. Group NBT enjoys strong recurring revenues, due to the fact that clients tend to be sticky. Chief executive Geoff Wicks says 'our customers are continually growing with us' and new services are being added to promote this. Broker Numis forecasts 2011 pre-tax profits of £9.2m and EPS of 25.6p. A pre-close statement should not be far away and should confirm trading is robust, with results due in September. On over 16 times earnings, Group NBT rates as a hold

http://www.growthcompany.co.uk/recommendations/1631303/group-nbt.thtml