Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201104200700112085F

Ken Scott, Chief Executive, ILX Group commented: "I am pleased with the Company's performance in the year ended 31 March 2011. The decline and subsequent closure of CTG was at the time a significant disappointment. However, the continuing business has performed extremely well and we now have a vibrant and growing company with considerable potential for future growth both in the UK, where market conditions remain challenging, and Internationally. "We have recently announced a number of major orders with international companies and with UK Government. Overall, the outlook for the current year is positive. "The resumption of the dividend is a key part of our commitment to translate these results into shareholder value and we are hopeful that the change of sector will help investors understand more clearly the focus of the business and the scalability inherent in it."

VIVERGO FUELS LIMITED Redhall Group plc ("the "Group"), the specialist engineering support services group, announces that its subsidiary, Redhall Engineering Solutions Limited (the "Company"), has agreed a full and final settlement with its former employees on its contract with Vivergo Fuels Limited ("Vivergo") which was brought to an end on 14 March 2011 following the Company's acceptance of a repudiatory breach of contract by Vivergo. This agreement compromises, with no admission of liability whatsoever, any claims which the Company's former employees felt they might have had against the Company or the Group arising from their employment with the Company coming to an end. The £1.2m cost of this settlement was included in the Board's assessment of working capital adequacy included in its trading update on 7 April 2011 and closes off the potential for future claims arising from the Company's former employees. The Company's position remains that the Transfer of Undertakings (Protection of Employment) Regulations 2006 ("TUPE") should apply so as to automatically transfer the employment contracts of all the former employees of the Company employed on the Vivergo contract on 14 March 2011 to either Vivergo or to a new contractor engaged to provide the same or similar services to Vivergo. The agreement does not preclude the Company's former employees from pursuing unfair dismissal claims under TUPE against Vivergo or a new contractor arising from the bringing to an end of the Vivergo contract. As previously stated the Group intends to pursue recovery of all of its outstanding costs plus damages from Vivergo.

http://www.investegate.co.uk/Article.aspx?id=201104200700122112F

Record iron ore sales for BHP Billiton Date: Wednesday 20 Apr 2011 LONDON (ShareCast) - Mining leviathan BHP Billiton enjoyed record iron ore production and sales in the first nine months of its financial year. Year to date production records were also achieved for crude oil and condensate, the North West Shelf (Australia) and manganese ore. Iron ore production in the nine months to 31 March 2011 totalled 98.88m tonnes, up 6% on the corresponding period a year earlier. Year to date production of alumina was up 7% year on year, while aluminium output was flat year on year. Turning to base metals, year on year changes in year to date production levels were as follows: copper +11%; lead 0%; zinc -23%; silver -3%; uranium +93%. Nickel production slipped 10% to 114,500 tonnes due to reduced production from Cerro Matoso (Colombia) following commencement of the planned furnace replacement in February 2011. BHP Billiton produced 51.2m tonnes of energy coal in the nine months to end-March, up 3% year on year, and 24.8m tonnes of metallurgical coal, down 6% year on year. On the petroleum side of the business there was a slight decline in output of both oil and gas. Production of crude oil, condensate and natural gas liquids eased 1% to 70.6m barrels, while natural gas production slipped 2% to 273.3bn cubic feet. Crude oil production growth, specifically at Atlantis (USA), was significantly affected by the inability to drill new, high volume production wells. Production in the March 2011 quarter was further hit by the tropical cyclone season in Western Australia. “Quarterly production records were achieved at Hunter Valley Energy Coal (Australia) and the Alumar refinery (Brazil), while record milling rates were set at Olympic Dam (Australia) for the second consecutive quarter,” the company said. In its exploration and drilling report covering the first quarter of 2011, BHP Billiton said it approved major projects with a total investment value of $9.8bn. The group said it expects total investment over the five years to the end of the 2015 financial year will top $80bn. --- jh

http://www.investegate.co.uk/Article.aspx?id=201104200700092292F

BHP BILLITON PRODUCTION REPORT FOR THE NINE MONTHS ENDED 31 MARCH 2011 · Successfully concluded the acquisition of the Fayetteville Shale (USA), which is expected to be an important contributor to the continued growth of the Petroleum business. · Quarterly production records were achieved at Hunter Valley Energy Coal (Australia) and the Alumar refinery (Brazil), while record milling rates were set at Olympic Dam (Australia) for the second consecutive quarter. · Record iron ore production and sales for the nine months ended March 2011 were achieved at both Western Australia Iron Ore and Samarco (Brazil), highlighting the benefit of BHP Billiton's commitment to invest through economic cycles. Year to date production records were also achieved for crude oil and condensate, the North West Shelf (Australia) and manganese ore.

http://www.investegate.co.uk/Article.aspx?id=201104200700092291F

Argos boss departs as Home Retail profits slump By Rory Gallivan Date: Wednesday 20 Apr 2011 LONDON (ShareCast) - Home products retailer Home Retail Group announced the departure of Argos’s managing director as it unveiled a sharp fall in profits due to lower sales at the catalogue-based chain and predicted further sales declines. The company said that Sara Weller informed the board that she is stepping down for “personal reasons.” Home Retail’s pre-tax profits for the year to 26 February came in at £254m, down 13% from the previous year and in line with expectations. Sales were down by 3% to £5.85bn. Sales at the Argos were down by 3.5% to £4.19bn. On a like-for-like basis, stripping out the 2.1% boost from new retail space, they were down by 5.6%. Argos’s customers, many of whom are among the hardest-pressed in the country, have been squeezed by the tough economic conditions. Sales at Homebase were down by 1.4%, though on a like-for-like basis they only fell by 0.3%, taking into account a 1.1% reduction due to the removal of floor space, with eight shops closed. “Economic uncertainty and a low level of consumer confidence continue to adversely impact customer spending patterns,” chairman Oliver Stocken said. “Despite these challenges the group continues to build on its strategic advantages to ensure that it will be well positioned for the economic recovery over the longer term.” Home Retail said prospects for 2011/12 “are uncertain as consumers' disposable income, and their willingness to spend, is impacted by an increased VAT rate, an increase in personal taxes and the rising cost of living plus the additional threat of public sector job losses and potential interest rate increases. “ The company is planning for low-to-mid single digit like-for-like sales declines at Argos and a broadly flat outcome at Homebase.

The links http://www.investegate.co.uk/Article.aspx?id=201104200700102060F http://www.investegate.co.uk/Article.aspx?id=201104200700151974F http://www.investegate.co.uk/Article.aspx?id=201104200702072275F

Underlying revenue growth at Bunzl Date: Wednesday 20 Apr 2011 The UK & Ireland are letting the side down at distribution and outsourcing group Bunzl, which has otherwise seen good revenue growth this year. The group said trading so far in 2011 has been consistent with expectations outlined at the time of the group's full year results announcement in February, with underlying revenue growth of 2.5%, despite persistent difficult economic conditions in the UK & Ireland. Overall, revenue in the first quarter was up 12% on the corresponding period of last year, helped by the contribution from acquisitions and the fact that this time round there were two extra trading days in the first quarter. Group operating margin has also increased in the first quarter as a result of an improvement in mix and the additional trading days in the period. There has been no significant change in Bunzl's financial position during the period and the group continues to have substantial funding headroom available. “Bunzl's strong cash flow and balance sheet, together with a promising pipeline of potential acquisition targets, should continue to give the group opportunities to consolidate the markets in which it operates,” the statement said.

BUNZL INTERIM MANAGEMENT STATEMENT Bunzl plc, the international distribution and outsourcing Group, today announces its interim management statement for the period since 31 December 2010. Overall trading has been consistent with expectations at the time of the annual results announcement in February. At constant exchange rates, Group revenue in the first quarter has increased 12% compared to the same period last year due to underlying revenue growth of 2.5%, the positive impact from acquisitions and additional trading days in 2011 compared to the comparable period in 2010. There has been a small overall negative translation impact from exchange. The improvement in underlying revenue is due to continuing good growth in North America, Continental Europe and the Rest of the World with the persistent difficult economic conditions holding back revenue in the UK & Ireland. Group operating margin has also increased in the first quarter as a result of an improvement in mix and the additional trading days in the period. Acquisitions remain a key component of Bunzl's strategy. Cannon Consumables in the UK and Omega in Australia, which were acquired in March, are integrating well. There has been no significant change in Bunzl's financial position during the period and the Group continues to have substantial funding headroom available. Bunzl's strong cash flow and balance sheet, together with a promising pipeline of potential acquisition targets, should continue to give the Group opportunities to consolidate the markets in which it operates. The Board is confident that Bunzl's market leading positions and the positive impact from acquisitions should allow the Group to grow further.

http://www.investegate.co.uk/Article.aspx?id=201104200700102025F

Greg Fitzgerald, Chief Executive of Galliford Try, commented: "I am delighted that we have won this hugely significant construction project. The award demonstrates the Group's leading-edge skills on infrastructure projects and we are proud to be part of a very strong joint venture with extensive marine based capabilities."

FORTH REPLACEMENT CROSSING JOINT VENTURE REACHES CONTRACT CLOSE Galliford Try, the construction and housebuilding group, announces that contractual close has now been reached with Transport Scotland following the selection in March of the Forth Crossing Bridge Constructors (FCBC), a joint venture including the Group's Scottish infrastructure business Morrison Construction, as preferred bidder for the design and construction of the Forth Replacement Crossing in Scotland. The project, which is valued at £790 million, covers the design and construction of a cable-stayed road bridge over the Firth of Forth immediately to the west of the existing Forth Road Bridge together with new road connections both north and south of the estuary. In addition to Morrison Construction, the FCBC joint venture comprises Hochtief, Dragados, and American Bridge International. All four businesses have a solid record of successfully delivering major infrastructure schemes throughout the world and will jointly provide the full range of skills, resources and technical expertise for this complex project.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4186109

ACQUISITION OF NEW 3D SEISMIC - BOLIVAR Global Energy Development PLC ('Global' or the 'Company'), the Latin America focused petroleum exploration and production company (LSE-AIM: 'GED'), is pleased to announce that it has begun planning the acquisition of 100 square kilometers of new 3D seismic over the Company's Bolivar Association Contract area. The Company has previously reprocessed existing seismic over the contract area and made an exhaustive interpretation. The acquisition and interpretation of the new seismic data will enable the Company to validate the previous interpretation and establish the optimum position of the future wells scheduled to be drilled on the contract area. Although the major structural elements of the block have been delineated using older vintage 2D seismic, the much higher resolution data gained from a 3D survey will identify the smaller features and ensure proper placement of lateral wellbores in the fractured reservoirs. Using the current "fairway" concept, it is necessary to locate the exact position of the various faults in order to identify areas of maximum natural fracture density. A portion of the 3D will be designed to image the Crisol gas cap, in order to determine the continuity and limits of that reservoir should the injection of associated gas become necessary in the future. The Company has engaged Third Coast Enterpises, Inc. to aid in the design of an approximately 100 square kilometer 3D survey and is currently in the process of soliciting bids for selection of an acquisition company. Once the design phase is finished and an acquisition company is selected, the Company plans to move to the permitting and acquisition phase of the projects which is expected to take approximately one to two months.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4186103

SOLOMON CAPITAL LIMITED Cash Offer by Strand Hanson Limited on behalf of Solomon Capital Limited for the whole of the issued and to be issued ordinary share capital of Metals Exploration plc not already owned by Solomon Capital Limited CLOSE OF OFFER AND OF THE PERIOD FOR EXERCISE OF THE RIGHT TO RESCIND

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4186164