Member Info for mulledwine

Increased component and manufacturing costs and greater industry competition have led to a reduction of gross profits at Mediwatch (MDW) by approximately 1% for the first-half ended 30th April 2011 on the half-year prior. However, the medical diagnostic equipment manufacturer added that with the introduction of new products, it is optimistic for the second half of the 2011 financial year. Shares in Mediwatch, which has won four research and technology awards for innovation from the British and European governments, fell 0.5p to 2.5p.

Mobile Tornado Group (MBT) has won a contract to supply its patented IPRS Push-to-Talk technology platform and provide professional services to install and configure the system for a "major" Israeli mobile operator. Separately, the company posted a pre-tax loss of 1.6 million pounds for the full-year ended 31st December 2010, which compares to a loss of 2.7 million pounds a year earlier, as cost of sales and operating expenses both fell. Shares in Mobile Tornado advanced 0.875p to 10.75p.

http://www.investegate.co.uk/Article.aspx?id=201105250700112255H

Strong demand from customers in the oil, gas and power sectors has led to improved annual adjusted pre-tax profits at Aveva Group (AVV), as the software firm remains cautiously optimistic of further improvements in business conditions during the new financial year. For the 12-months ended 31st March 2011, the company announced an 8% jump in adjusted pre-tax profits to 54.7 million pounds on revenues up 17% to a record 174 million pounds. Shares in Aveva, which makes software used to design nuclear power stations, ships and oil facilities, added 10p to 1,581p.

Brewin Dolphin Holdings (BRW) said it was confident of its ability to continue to grow and prosper, as the stockbroker posted widened adjusted pre-tax profits for the half-year. For the 6-months ended 27th March 2011, adjusted pre-tax profits rose 9.6% to 22.9 million pounds on the comparable period a year earlier as total income climbed 12.5% to 136 million pounds. Total managed funds also rose, advancing 7.8% to 25 billion pounds. Shares in Brewin, which has 41 offices across the UK and Channel Islands offering a wide range of financial services, were back 0.3p to 165.7p.

Singer Capital Markets commented on Sinclair Pharma (SPH). The broker notes that the group has been unable to change its registered name to Sinclair IS Pharma following the recent merger with IS Pharma, but, nevertheless, said this will have little material impact and reiterated its 48p intrinsic valuation on the business. Looking ahead, while noting the rapid change over the last two years, Singer added that the merger will add both a distinctive and valuable product portfolio and an important UK element to the business. The shares slipped 1.25p to 30p.

Evolution Securities upgraded its recommendation for 3i (III), the fund manager, to "buy" with a target price of 370p. The broker said that following a solid set of results during a difficult year, it feels much more comfortable in relation to the health and momentum of the portfolio. That said, Evolution added that while it can see strategic and operational challenges ahead, signs of increased activity levels are a good leading indicator for returns. 3i shares increased 4.3p to 288.2p.

Panmure Gordon issued a "sell" rating for De La Rue (DLAR) with an increased target price of 672p, up from 566p. The broker notes that paper production issues at one of the banknote printer's facilities and an unrelated reduction in banknote print volumes have led the group to announce lowered pre-tax profits for the full-year. However, with numbers coming in better than expected, Panmure has upgraded its 2012 profit and earnings per share forecast by 14% and 19%, respectively. Shares in De La Rue, which produces over 150 national currencies and security documents including passports, rose 2.5p to 842.5p.

http://www.investegate.co.uk/Article.aspx?id=201105250700132298H

Quintain feels the squeeze Date: Wednesday 25 May 2011 LONDON (ShareCast) - Property developer Quintain Estates plunged into the red in 2010, following valuation write-downs in the first half of the year. The firm made a loss before tax of £48.1m in the twelve months ending 31 March 2011 on a gross profit of £26.2m. Quintain said it saw property market conditions slowly improving, driven by renewed investor interest in UK real estate, particularly in the London markets. However, it said an uncertain outlook for the UK economy meant occupiers faced nervous consumers, low growth prospects and the impact of the government's Comprehensive Spending Review. “The scale of the task ahead is illustrated by our share price that remains at a substantial discount to our net asset value per share,” the firm said. Chief executive, Adrian Wyatt, said the company’s urban regeneration programme would benefit from London's strength as a global financial centre and the benefits this brought to its wider economy. The firm said its key milestones for the next 12 months were establishing Wembley City as a thriving retail and leisure destination, re-invigorating development at Greenwich Peninsula and growing its specialist fund management business. Quintain is also building a 361 room Hilton Hotel and 660 bed student accommodation building, both adjacent to Wembley Stadium. The hotel is expected to open for the Olympic Games and the student accommodation for the 2012/13 academic year.

Biofutures slips on palm oil costs Date: Wednesday 25 May 2011 LONDON (ShareCast) - Palm oil refiner, Biofutures, posted full year losses of £902,000, due to an increase in employee and administrative costs at its Malaysian operation. The year ended on a high note, however, as the company's subsidiary, Zurex, obtained all the necessary licenses from the Malaysian government to operate its new palm oil refinery. It also recently received a licence to import crude palm oil, the firm said. Biofutures said the completion of the refinery was its first key performance indicator and the company aimed to be in profit by 31 December 2011. The company said it was positive about the longer term prospects of the palm oil industry due to growing demand from both food and non-food sectors. It estimates regional production will grow by more than 3m metric tonnes to approximately 42m metric tonnes in 2011, mainly due to the increase in production from previously planted areas in Indonesia. The group said its long term strategy was to explore the possibilities of owning its own plantation and to invest in downstream activities such as fractionation and manufacturing of higher value-added products.

Playtech announces share buy-back By Benjamin Chiou Date: Wednesday 25 May 2011 LONDON (ShareCast) - With shares in Playtech having fallen by over a third over the last year, the online gaming software developer has announced that it will buy back 10% of its current outstanding ordinary shares, as the recent trading price of the shares does not "reflect their underlying value." The gruop has taken authority to make market purchases of over 24.2m ordinary shares of no par value As of yesterday's close (307.75p), the share price had lost 34.07% during the last 12 months when it was over the 400p mark. After Wednesday's announcement, shares had recovered slightly and stood around the 335p level. "We expect that the market will recognise the true value of our business. Should the public markets continue to offer an opportunity for us to purchase shares at what the Company believes are compelling valuations, the Board must retain the ability to utilise a portion of our cash resources for the benefit of all of our long-term shareholders," said chairman Roger Withers. Meanwhile, current trading is said to be robust, with performance continuing to improve after a solid first quarter. "This is a good outcome in what remains an uncertain market environment conditions, and continued delay in the introduction of new products in markets such as Italy," Withers said.

Admin - could you perhaps look at the Company details now associated with ACM and update please

everready - this may help - looks like LSE have not updated the details of this board http://www.investegate.co.uk/Article.aspx?id=200809250800012342E http://www.investegate.co.uk/Article.aspx?id=201006010805037620M

http://www.investegate.co.uk/Article.aspx?id=201105250701062294H

Accumuli on the lookout for more acquisitions Date: Wednesday 25 May 2011 LONDON (ShareCast) - IT security services provider Accumuli says it now has the necessary level of funding to develop the business. The company, which raised £4.7m through a placing, has lived up to its name, accumulating three companies (Tuscany Networks, Fujin Technology and Boxing Orange) since November. “We have successfully raised the necessary level of funding with considerable institutional support and we have acquired three excellent businesses with diverse products, skill sets and customer bases providing substantial opportunities for economies of scale and cross selling,” said chairman Graham Norfolk. “We believe we have built a strong platform in the managed security services sector at a time when businesses of all sizes face ever greater and more sophisticated threats to the networks on which they run.” The company continues to assess further acquisitions, he added.

25th May 2011 Analyst: Philip Morrish Email: philip.morrish@gecr.co.uk Tel: 0207 562 3662 Conygar Investment Company: Satisfactory Interim Results Confirm Progress and Undervaluation. Target Price increased to 154.1p (146.5p), Re-iterate Recommendation of Buy

Holidaybreak, the education and activity travel group, was a popular destination for investors yesterday, despite its first-half losses widening. Shares took off, in part because of a strong pipeline of bookings at its PGL outdoor activity business for schoolchildren. Investors also saluted Holidaybreak’s bullishness on the growth potential of Meininger, the Germany-based student tour accommodation group, in which it took a 50% stake last year for £30.8m. Moreover, Holidaybreak now trades on a forward earnings ratio of under seven times, which now looks attractive. While the holiday sector is a risky one and subject to major external turbulence, we think that Holidaybreak is worth a punt. ‘Buy’, says the Independent.

Great Portland Estates‘s assets per share were up by 27% to 360p in the year to the end of March, driven by rental growth of 10.8%, or 15.9% for West End offices, although retail lagged at 3.7%. A feature of this year’s reporting season has been strong results from Land Securities and British Land, but Great Portland has put them in the shade. The shares are not held for income, although total dividends were up from 8p to 8.2p. At 413p, up 3p last night, they are on a fully justified 15% premium to net assets and are a strong ‘hold’, says the Times.

Banknote company De La Rue may have a licence to print money, but after a volatile 12 months the shares have not been quite such a sure thing. The group released its full-year results yesterday with pre-tax profits beating analysts’ expectations, up 10% to £33m. The dividend was maintained, which should have calmed a few nerves among investors after what has been a trying year. As well as Oberthur still lurking with the possibility of another bid, there is the recovery strategy and “an encouraging order-book profile and a good pipeline of opportunities”, according to new chief executive Tom Cobbold. Add the nice 5.1% yield, and we think this one might finally be worth buying into, says the Independent.