Member Info for mulledwine

all looking good and a great recovery from the low 50's in August

Pre Close Trading Update Driver Group, the global construction consultancy, is pleased to report a further update on trading ahead of the announcement of its results for the year ended 30 September 2012. The Board is very pleased with the integration of Trett Consulting which is now completed. The Company's Middle East business continues to trade ahead of management's expectations as does Africa, with businesses in both regions finishing the year strongly and with good forward order books for the new financial year. As a result of the continued strength of trading the Board believes the Company will exceed management's expectations for the financial year ended 30 September 2012. The Company looks forward to providing further information at the time of the announcement of its results for the financial year ended 30 September 2012.

http://www.investegate.co.uk/Article.aspx?id=201210160700037294O

Phil Cartmell, Chairman of Corac commented on today's announcement: "We are delighted to complete these negotiations and progress further in this important programme, confirming ACI's market leading technical excellence and our ability to extend our reach into additional boat designs and with international partners. "This strengthens the Group order book, providing good visibility for longer term revenues."

Yes very nice indeed...much needed

Assays pending - starting to salivate

2012 Planned Works: A drilling program, consisting of 18 drill-holes for 9,000 metres to confirm the western extension of the B4-7 deposit mineralisation to line 1,000W, is currently underway. Pre-feasibility studies on the combined B4-7 and the VW deposits will be initiated in Q1 2013.

DRILLING, GEOPHYSICS SURVEY IN PROGRESS THE SCORPION ZONE JUNIOR LAKE NICKEL-COPPER-COBALT-PGEs PROJECT Highlights: · Drilling has re-commenced on the western section of the Scorpion Zone (B4-7 Deposit + B4-8 prospect), targeting potential B4-7 style massive sulphide mineralization below and to the west of the existing deposit. The first two completed drill-holes on line 50W have successfully intersected significant mineralization. Assays are pending. · A deep penetrating 'Direct Current Induced Polarization' (DCIP) and Magnetotellurics (MT) survey is in progress on the Scorpion Zone to investigate below the known mineralization of the B4-7 Deposit, as well as targeting potential mineralisation to the west. A high quality three-dimensional geophysical model will be created from this survey which will outline potential targets up to 1,000+ metres depth.

http://www.investegate.co.uk/Article.aspx?id=201210160700037321O

Nigel Stein, Chief Executive, GKN plc, commented: "In the third quarter, the Group's global footprint with its exposure to the strong markets of North America and China, as well as civil aerospace, allowed us to offset weaker European markets. Profit was affected by expected seasonal factors and operational issues in Driveline. Looking forward, European markets seem to be softening further. We continue to focus on driving performance, keeping close control of our cost base."

Outlook Macroeconomic conditions have deteriorated in recent weeks and some softening in order books is now evident, particularly regarding European automotive and industrial markets. Other automotive markets and the civil aerospace market are expected to remain solid. The fourth quarter is anticipated to show the usual seasonal improvement, although the softening markets are expected to have some impact on performance.

nterim Management Statement 16 October 2012 GKN plc, the global engineering business that serves the automotive, aerospace and land systems markets, today issues the following Interim Management Statement covering the period since 1st July 2012. Markets Since GKN's Half Year Results announcement in July, demand has remained broadly in line with expectations with more challenging European automotive and industrial markets being offset by strong automotive demand in the US and China and continued growth in civil aerospace. Group Results Group sales in the three months ended 30 September totalled £1,608 million, an 8% increase over the comparable period in 2011, half of which was organic growth. Third quarter trading profit increased slightly to £114 million (2011: £113 million) although trading margin reduced to 7.1%, largely as a result of lower profitability in Driveline. This arose due to the expected seasonality in the Getrag all-wheel drive business and costs associated with fluctuations in demand. In September, the Group's margin returned to a level comparable to the first half.

http://www.investegate.co.uk/Article.aspx?id=20121016070000P2FA7

Outlook Reservations since 31 July 2012 have remained in line with expectations and ahead of last year assisted by the availability of the government's recently introduced NewBuy scheme, which provides up to 95% loan to value mortgage products in England. Assuming support from government is maintained and consumer demand follows a similar pattern to last year, the Board intends to maintain its strategy of growth in volume, average selling price and margin via a combination of changes in mix, together with the ongoing increase in the proportion of completions from newly acquired, higher margin land. This should allow the Group to continue to deliver sustainable and responsible growth in net asset value whilst maintaining annual dividend payments to shareholders commensurate with earnings growth.

Trading and results Consumer demand for new homes is strengthened by our ability to offer a range of selling incentives and this, combined with a programme of new site openings, has enabled the Group to legally complete the sale of 5,226 homes (2011 - 4,922), an increase of 6.2% compared to last year. The average selling price of these homes has risen by 6.3% to £186,648 (2011 - £175,613), the highest the Group has ever achieved. This has resulted in housing turnover rising in the year by 12.8% to £975.4 million. The growth in both volume and average selling price has been driven by the Group's strong performance in the south of the country, particularly in London, with our southern divisions accounting for 63% (2011 - 61%) of housing turnover in the year. The increase in volume and average selling price has been further strengthened due to the increase in private completions, which have risen by 13.4% from 3,843 to 4,358 homes. Other turnover in the year was £28.8 million which, when combined with housing turnover of £975.4 million, resulted in total growth in turnover of 13.3% for the financial year to £1,004.2 million. The operating margin continues to improve and has increased to 11.4%, from 8.5% last year, as the Group continues to deliver a greater proportion of completions from higher margin sites acquired since the downturn, whilst simultaneously maintaining robust cost controls. As a consequence, operating profit has increased by 52% to £114.6 million compared with £75.2 million in the previous year. The operating margin in the second half of the financial year reached 12.5%. Net finance charges total £9.3 million (2011 - £8.0 million), resulting in profit before tax of £105.3 million, an increase of 57% on the previous year. Basic earnings per share have risen by 58% to 65.5p per share. The balance sheet remains strong, with modest net bank debt of £40.6 million at 31 July 2012, which when combined with the Group's £20 million preference shares, represents gearing of only 5.3%. Land creditors remain relatively low at only £120.6 million, and with bank facilities of £300 million, the Group retains its capacity to grow. The net asset value of 933p per ordinary share is a new year-end record for the Group.

Chairman Howard Dawe said "consumer demand for new homes has shown continued resilience and this … has enabled Bellway to deliver its third successive year of growth in volume, average selling price and operating margin". He added that the growth "has been driven by the Group's strong performance in the south of the country" … and "has been further strengthened due to the increase in private completions". He concluded "The Board intends to maintain its strategy of growth in volume, average selling price and margin" … "whilst maintaining annual dividend payments to shareholders commensurate with earnings growth".

HIGHLIGHTS § Number of homes sold increased to 5,226 (2011 - 4,922) § Average selling price increased to £186,648 (2011 - £175,613) § Total Group turnover increased to £1,004.2m (2011 - £886.1m) § Operating margin increased to 11.4% (2011 - 8.5%) § Profit before tax increased by 57% to £105.3m (2011 - £67.2m) § Earnings per share increased by 58% to 65.5p (2011 - 41.5p) § Total dividend increased by 60% to 20.0p (2011 - 12.5p) § Net asset value increased to 933p (2011 - 888p)

http://www.investegate.co.uk/Article.aspx?id=201210160700047339O

The Independent advises investors to hold tight on Stagecoach but buy FirstGroup. It says Stagecoach is a ruthless well oiled machine that doesn’t make mistakes. “But I wouldn’t be buying any more just yet and the shares have enjoyed a good run recently. Buy only on weakness.” Of FirstGroup it comments: “Worries abound. But the shares have settled at a low enough level that it might be worth taking a speculative interest.

Panmure Gordon maintained its "buy" rating for Asian Plantations (PALM) with a slightly reduced target price of 380p, from 400p. The broker believes that the palm oil company's proposed fifth acquisition may be its last due to a shrinking amount of available land in Malaysia. The new site covers 7,000 hectares, bringing its total to 27,700 hectares and Panmure noted that it is located just 5 kilometres away from the group's Incosetia estate