Member Info for mulledwine

CEO "I am pleased to announce a very strong set of results for the financial year driven by an excellent performance in our Managed Pubs and Hotels. Our revenues grew by 6% to £241.9 million (2010: £227.7 million) and adjusted profit before tax (excluding exceptional items) increased by 10% to £29.3 million (2010: £26.6 million). Our adjusted earnings per share rose by 9% to 37.36p (2010: 34.19p). "Over the last five years our adjusted earnings per share have grown 71% demonstrating the Company's long term consistent out performance of the market. During this period the UK economy has endured the deepest trough since the Second World War and has still not recovered to its pre-recession level. "We have made a good start to the new financial year in what has been a very unusual first nine weeks of trading with a Royal Wedding, five bank holidays and generally very good weather. Like for like sales in our Managed Pubs and Hotels for the nine weeks to 4 June 2011 have grown by 6.8%. For the same period total beer volumes are 1% higher than last year, with continued weakness in the UK On Trade again offset by growth elsewhere, particularly Exports and the Off Trade. "With wages in the UK running behind inflation, our customers' incomes are being squeezed and we will have to work hard in the current year and beyond to earn their custom. We believe, however, that as the consumer is forced to become ever more discerning, our high quality offer of leading beer brands and well invested, often historic, pubs will be increasingly attractive and position us well for growth. We have the financial strength to invest further in new opportunities and should benefit from the "London factor" as the calendar turns towards 2012.

Corporate Progress · Another very strong set of results · Managed Pubs and Hotels profits6 up 15% with like for like sales up 3.9% · Tenanted Inns profits6 level · Total Beer volumes up 2% · Net Debt to EBITDA reduced to 1.9 times · Since year end four pubs acquired and major brewery investment underway

Financial results for the 53 weeks ended 2 April 2011 Financial Performance · Revenue up 6% to £241.9 million (2010: £227.7 million) · Adjusted profit before tax1 up 10% to £29.3 million (2010: £26.6 million) · Profit before tax up 16% to £31.0 million (2010: £26.8 million) · EBITDA2 of £46.6 million (2010: £43.6 million) · Adjusted earnings per share3 up 9% to 37.36p (2010: 34.19p) · Basic earnings per share4 up 28% to 44.12p (2010: 34.37p) · Final dividend4 increased by 8% to 7.05p (2010: 6.50p5)

http://www.investegate.co.uk/Article.aspx?id=201106100700082054I

Potentially a blue day here again but that spread kills!

CONT Work to maximise the value of our property assets continues. Our Brackley site is shortly expected to receive planning permission for residential development, at which point we intend to place the site on the market. During the year we disposed of our property in Sandbach which was surplus to our needs. The continued improvement in our trading results and the strength of our balance sheet has led us to propose a final dividend of 0.35p per share. This dividend together with the interim dividend of 0.175p already paid will result in a total dividend for the year of 0.525p per share. This compares with a total dividend of 0.15p for the year ended 31 March 2010 and demonstrates our determination to return to being a dividend growth stock. Subject to approval at our AGM, the final dividend will be payable on 12 August 2011, to shareholders on the register on 1 July 2011. May I once again thank our shareholders for their loyal support and everyone at Ensor for their efforts and hard work which have contributed to these excellent results. K A Harrison TD Chairman 10 June 2011

FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2011 CHAIRMAN'S STATEMENT - Sales: up 10% to £21,357,000 - Operating profit: up 86% to £938,000 - Proposed total dividend: 0.525p up from 0.15p I am delighted to be able to report that Ensor has continued to make substantial progress this year with sales up 10% to £21,357,000 (2010: £19,443,000). More importantly, operating profits have increased by 86% to £938,000 (2010: £504,000) and earnings per share have gone up to 2.1p (2010: 1.3p). This organic growth is particularly pleasing as it is against a background of continued recessionary pressures and an uncertain construction industry, a market in which we are highly involved. During the year, our cash flows have been good. Our profitability, debtor and stock management have allowed us to become debt free and create a net cash position. Since last year we have successfully changed our banking arrangements with an improvement in the terms we enjoy. We are financially well placed to take advantage of appropriate business or acquisition opportunities, when they arise, to strengthen the Group. In contrast with last year when the Ensor pension scheme deficit increased, there has been no further impact this year on the balance sheet, as the net value of the assets and liabilities of the scheme is generally unchanged. This has contributed to the reduction in our finance charges to £125,000 (2010: £248,000). All of our operating subsidiaries have performed well during the year. We continue however to be cautious with our outlook, due to the unknown effects of government spending cuts, the slow progress of the economy and exchange rate fluctuations. I am happy though, that Ensor is well positioned to make further progress in this new financial year. Sales order intakes and gross margins are currently satisfactory. Our emphasis of targeted marketing of well-engineered products and services, into clearly identified sectors, allows us to take a larger share, albeit, of a reduced market. Our China office continues to support our UK companies by representing their best interests and seeking new commercial opportunities.

http://www.investegate.co.uk/Article.aspx?id=20110610070000P36B2

675 and then 630 seem to be the supports on the way down to 600 - lets see how she performs if we reach them.

Abbs3 - you could well be correct there. It wont take much to de-rail the small amount of confidence that is going around with regard to house purchasing. I am not in here yet - watching and noting!

The Group continues its disciplined approach to land procurement and, within these restraints, all divisional land teams have been active during the four months under review, with £220 million expended on land and land creditors in the year to date. This expenditure, together with a gradual increase in work in progress, resulted in the Group's net debt rising to £57 million at 31 May, compared with total committed facilities of £290 million. Subject to opportunities which may be available over the coming weeks, the Board expects this level of gearing to reduce by the year end. Constraints in relation to mortgage supply, particularly regarding first time buyers, combined with wider economic concerns, continue to pose challenges to the sector. Nevertheless, with a strong order book, low gearing, and the increasing contribution from sites acquired since the downturn, the Board believes that Bellway is well positioned to continue delivering both operating margin and volume growth if market conditions remain unchanged. The Group will announce a trading update for the financial year ending 31 July 2011 on Friday 5 August.

Bellway p.l.c. Interim Management Statement 10 June 2011 Bellway is today updating the market as to its current trading position by issuing an Interim Management Statement (IMS) relating to the period from 1 February to 31 May 2011. The uncertainties that affected consumer confidence during the challenging autumn trading period appear to have diminished and, encouragingly, there has been a return towards a more normal reservation pattern with a healthy spring selling season, despite ongoing concerns remaining in the wider economy. In the seventeen weeks under review, the Group has achieved a sales rate of 111 units per week, an increase of 9% on the same period last year, from an average of 195 sites. The average selling price of these reservations is £182,000, an increase of 4% compared to last year, driven by continuing changes in product mix, combined with a greater contribution of higher value units from divisions in and around London, where demand remains strongest. At the time of the interim announcement in March the Board outlined its target of increasing unit completions for the year ending 31 July 2011 by around 5%. The Board is therefore pleased to announce that these reservations are now secure, subject to delivery, and furthermore some 1,600 reservations have been taken for completion in 2011/12. Operating margin continues to improve as trading from new sites, acquired since the downturn at gross margins in excess of 20%, starts to contribute to a greater proportion of completions.

http://www.investegate.co.uk/Article.aspx?id=20110610070000PAF3F

Response to Liberty Hedge Ventures Letter LONDON - The Board of Hirco Plc (AIM: HRCO) notes the letter to its Chairman publicly released by Liberty Hedge Ventures Limited on 9 June 2011. The Board is disappointed by the contents of the letter and disagrees with the interpretation put forward by that shareholder. The Board continues to believe in the strategy set out in its Circular dated 3 June 2011 and stands behind its content; in particular, the Board considers that shareholder support at the forthcoming extraordinary general meeting on 28 June 2011 (the "EGM") is critical to the ability of the Company to fulfil its outlined strategy. The Board urges shareholders not be be deterred by attempts to distract the EGM process, and to vote in favour of the proposed resolutions at the EGM by submitting proxies or attending in person. Shareholders are reminded that the deadline for receipt of proxy votes is 11.30 am (London time) on 26 June 2011.

http://www.investegate.co.uk/Article.aspx?id=201106100701052065I

Stephen Wildridge, CEO of Animalcare Group plc, said: "We are very pleased to be able to add Sedastart and Sedastop to our range of analgesics and anaesthetics, an area of strength for our business. Animalcare continues to actively look at new products to add to its range in order to offer its customers a greater range of effective therapies at competitive prices and we expect to launch at least two more new products before the end of 2011. "

Animalcare Group plc ("the Group" or "Animalcare"), a leading supplier of veterinary medicines, announces the addition of two new products to its range of licensed pharmaceuticals having received approval from the Veterinary Medicines Directorate and the Irish Medicines Board on 27th April 2011. The new products, Sedastart and Sedastop, complement Animalcare's existing range of analgesia and anaesthesia products to provide a more complete product suite and can be used alongside Buprecare, the Group's leading analgesic used on dogs and cats. The launch of Sedastart and Sedastop follows the successful launches of Cephacare, Buprecare and Benazecare in the UK and on mainland Europe. The net turnover for the target markets of Sedastart and Sedastop is approximately £1.0million in each segment. Sedastart is a sedative solution administered to dogs and cats by injection and is used prior to a general anaesthetic or minor procedures such as stitching, radiography and nail clipping to calm the animal. Sedastop, also a solution administered by injection, is given to the animal following a procedure or operation to reverse the sedative effects of Sedastart and revive the patient more quickly. Sedastart and Sedastop can be used as either stand alone products or together.

http://www.investegate.co.uk/Article.aspx?id=201106100700091959I

Commenting on the investment, Carl Harring and Justin Leong, Directors at HgCapital, said: "Mainio Vire is a very attractive business in a fragmented, high growth market. The company, with its strong management team, class leading systems and quality control processes, offers us an excellent platform for growth. We have identified multiple opportunities to create value through organic growth in its current and adjacent sub-sectors and through potential bolt-on acquisitions." Kristiina Hautakangas, CEO of Mainio Vire, said: "We are delighted about our new owners and their in-depth knowledge of the social care sector. The Finnish market is going through a transition period that offers many exciting opportunities to Mainio Vire and we look forward to going through our next phase of growth together with HgCapital."

HgCapital acquires Finland's leading social care operator, Mainio Vire London, 10 June 2011: HgCapital, the European sector-focused private equity investor, has today announced the acquisition of Mainio Vire, Finland's leading social care company, from MB Funds, a Finnish private equity fund. The acquisition represents a continuation of HgCapital's thematic, sector-driven investment strategy, with Mainio Vire being HgCapital's 6th investment in the health and social care services market. HgCapital's other current investments in the sector are Voyage in the UK, Frösunda in Sweden and Casa Reha in Germany. The Nordic healthcare market has multiple attractions which underpin this transaction: favourable macro demographics, a solid public funding environment, a highly fragmented market and a strong trend towards private provision of care. HgCapital's experience with Frösunda has been very positive and highlights the value creation opportunity present in the Nordic health care market. Founded in 1997, Mainio Vire was one of the first private social care companies in Finland and it has grown rapidly via a combination of opening new care homes and selected small acquisitions to become the market leader in Finland. Today, Mainio Vire is the largest social care company in Finland with forecast sales of €62 million in 2011 (up 21% year on year) and, from 2008 to 2010, it grew sales at 14% CAGR. Mainio Vire provides services in four business areas: elderly care, mental health, child day-care and home services. The company operates 54 care homes with 1,675 beds and seven child day-care centres with 360 places. Mainio Vire has one of the widest geographic footprints in the sector and is strongest in the regional economic centres located in the southern and central parts of Finland. Approximately 1,150 people work at the Company and over 800 of these people have formal social or healthcare education.