Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201104040700111939E

Blackstar sells Baldwins to Robor Date: Monday 04 Apr 2011 LONDON (ShareCast) - South African-based investor Blackstar Group has reached an agreement to sell its carbon steel operation. It has agreed with steel tube and pipe manufacturer Robor to dispose of the division, a 100% subsidiary of KMG Steel Service Centres in exchange for an issue of 5% of the issued share capital of Robor. KMG, a 87% owned subsidiary of Blackstar, consists of two divisions, Baldwins which focuses on carbon steel, Stalcor that trades in stainless steel and aluminum and a 100% held subsidiary called Global Roofing Solutions, a steel roofing specialist. The 5% equity shareholding in Robor will be transferred to Blackstar from KMG and a Blackstar representative will join the board of Robor. Blackstar's equity stake in Robor will allow Blackstar to retain exposure to the turnaround in the Baldwin division. Robor is a diversified business with a strong balance sheet and pays regular dividends to its shareholders. The transaction will also permit the continued restructuring of KMG, and should enhance the profit potential of its remaining assets of Stalcor and GRS, and will allow Blackstar to separate its steel interests into two distinct areas, being Robor and KMG via its subsidiaries Stalcor and GRS. The directors believe that a decentralised structure will result in annualised cost savings of approximately R100m (£9.2m) and will also allow each of these businesses to grow independently. Blackstone Group is up 2.52%, at 83.5p.

http://www.investegate.co.uk/Article.aspx?id=201104040700071655E

Tricorn set to beat FY forecasts, offer dividend Date: Monday 04 Apr 2011 LONDON (ShareCast) - Tube manipulation specialist Tricorn said it expects full year pre-tax profit to be significantly ahead of market expectations as it considers recommending a maiden dividend. The Worcestershire-based group said full year pre-tax profit is expected to be around £1m after a strong final quarter and improved operating profit margin. Second half sales for the period ended 31 March 2011 are expected to be over 10% higher than the first half and full year sales are expected to be around 40% ahead of the previous year, Tricorn said in a company update. Commenting on trading Tricorn said, "Our Energy and Transportation sectors remain the principal driver for this with both sectors benefitting from strong market recovery and new business wins. We have also been encouraged by the continued growth in demand in the Utilities sector, albeit from a relatively low base." Aerospace sales in the second half will be at very similar levels to those in the first half. The pipe and tubular assemblies manufacturer is also considering recommending the payment of a nominal maiden dividend as part of a longer term progressive dividend policy.

tqhuussain - thanks for that - certainly looks like profit taking - cant see any direct news

I have this on a 'green' watch list - have I missed some news today re drop?...heading out but will have a better look when I get back in.

Trading update Dart Group PLC, the aviation and distribution Group, provides the following update on current trading. The Group believes that pre-tax profitability for the year ended 31 March 2011 will be in line with current market expectations. Cash flow generation from operations remains strong, and during the period the Group has continued to invest in further growth. Looking forward to the year ending 31 March 2012, overall forward booking levels for Jet2.com the Group's leisure airline remain satisfactory, supported by continued growth from its holidays operation. Business volumes are also satisfactory at Fowler Welch-Coolchain, one of the UK's leading logistics providers, which is beginning to attract new volumes into its new North West distribution centre. Notwithstanding the cancellation of North African flying, higher fuel costs and continued consumer uncertainty, the Board currently believes the Group will trade in line with market expectations in the current financial year.

http://www.investegate.co.uk/Article.aspx?id=201104040700081738E

http://www.investegate.co.uk/Article.aspx?id=201104040700132110E

Greene King secures new debt facility Date: Monday 04 Apr 2011 LONDON (ShareCast) - Pub group and brewer Greene King has agreed a new debt facility with its lenders that will help it finance its expansion plans over the next five years. The new £400m revolving credit facility starts this year and lasts for five years. It replaces an existing £400m facility that was due to expire in April 2012. Greene King said that, given the previous facility was agreed in early 2007 when more attractive margins were available, the new facility will increase its annual interest costs by about £2.5m a year. It is expected to result in a blended interest rate of about 6.1%. “This new facility gives Greene King continued financial flexibility and helps underpin the ongoing delivery of our Retail expansion and overall growth strategy,” the company said. Greene King, which brews beers such as Old Speckled Hen and Abbot Ale and serves them in its pubs, said in December that it plans to grow its managed pubs and restaurants business to about 1,100 outlets from 900 currently in the next five years. Most recently the company acquired Northern England- and Midlands-focused pub restaurant group Cloverleaf, to which it intends to add at least 10 new sites in the next two years.

Outlook The difficulties facing the UK consumer and the dynamics of the competitive UK market in which the Company operates suggests the year to 31 March 2012 may be more demanding than usual. However, the Board anticipates that with the Company's well invested asset base, strong range of products, experienced management team and robust financial position, it is well positioned to continue the long-term development of the Company.

http://www.investegate.co.uk/Article.aspx?id=201104040700061909E

Cranswick sees FY broadly in line with views Date: Monday 04 Apr 2011 LONDON (ShareCast) - East Yorkshire-based pork supplier Cranswick said results for the year to 31 March 2011 will be broadly in line with expectations. Underlying like-for-like sales for the year to 31 March 2011 increased by 4% while volumes during the period gained 6% on the same basis. Underlying sales in the fourth quarter were in line with those of the previous year. Operating margin was in line with management's expectations. However the company, which supplies fresh pork and gourmet sausages to Britain's food retailing and manufacturing sectors warned, "the difficulties facing the UK consumer and the dynamics of the competitive UK market in which the company operates suggests the year to 31 March 2012 may be more demanding than usual." Nevertheless the company said it remains "well positioned to continue the long-term development of the company. Cash generation from operating activities remained strong through the final quarter, the group said, while year-end net debt is lower than a year ago. Cranswick said it has put in place a new four year bank facility, on improved terms.

Lot of SP movement with UBM several new highs and then drop backs and then a gradual climb to another level - we may be on that now off the 575ish recent low.

http://www.investegate.co.uk/Article.aspx?id=20110404070000PDCC0

UBM transfers titles to Asian joint venture Date: Monday 04 Apr 2011 LONDON (ShareCast) - Events and publishing group United Business Media (UBM) has sold some of its Asian assets to joint venture partner, eMedia Asia, for $4m in cash. Ownership of Canon Communications Asia nd Beijing Reed Advertising Services, which together own EDN China, EDN Asia and certain associated titles, will be transferred to eMedia Asia. UBM has a 39.9% interest in eMedia Asia, with NASDAQ-listed Asian manufacturing directory owner Global Sources holding the remainder. UBM acquired the EDN titles as part of its acquisition of Canon Communications, which completed in October 2010. Publication EDN China and web site EDNChina.com both serve China's electronics design community. eMedia Asia's portfolio includes the electronic design print and online networks, EE Times China, Electronic Design China and Electronics Supply & Manufacturing China, which extends complete technical and industry information to engineers and leaders of China electronics manufacturers in print, online and via component cataloguing. With the addition of EDN China, the portfolio of eMedia Asia now reaches more than 1.2m technology decision-makers in China's electronics industry and has over 150,000 print magazine subscribers, UBM

Aggreko wins Japan power supply contract Date: Monday 04 Apr 2011 LONDON (ShareCast) - Temporary power supplier Aggreko is to help Japan keep its electricity supply up and running after last month’s devastating earthquake. The Tokyo Electric Power Company Incorporated (TEPCO) has signed a letter of intent with Aggreko stating that it intends, subject to negotiation of definitive terms, to award Aggreko a contract for the rental of 200 megawatts (MW) of emergency power. The contract, half of which will be generated from gas and half from diesel, would be for a minimum one year term. Power plants will be installed at sites in the Tokyo Bay area and Aggreko’s plant should be in action in June. “Aggreko is pleased it is able to be of assistance to the country at this very difficult time,” said the company’s chief executive Rupert Soames. RG

RECOMMENDED ACQUISITION OF GARTMORE GROUP LIMITED BY HENDERSON GROUP PLC Scheme of Arrangement becomes effective Further to the announcement made on 31 March 2011, the board of Gartmore Group Limited ("Gartmore") is pleased to announce that the scheme of arrangement to effect the recommended acquisition of the entire issued share capital of Gartmore has now been implemented in accordance with its terms. Holders of Scheme Shares are entitled to receive 0.6667 of a New Henderson Group Share for each Gartmore Share at the Scheme Record Time (being 9.00 p.m. (London time) on 1 April 2011). In addition, the New Henderson Group Shares will rank for the 2010 Final Dividend of 4.65 pence per Henderson Group Share announced by Henderson Group on 23 February 2011, which is subject to shareholder approval at Henderson Group's annual general meeting currently expected to be held on 4 May 2011. Admission of, and dealings for normal settlement in, New Henderson Group Shares on the London Stock Exchange occured at 8.00 a.m. (London time) today and quotation of the New Henderson Group CHESS Depositary Interests will take place, and dealings will commence, on the ASX on a normal settlement basis on 5 April 2011. The Consideration due to Scheme Shareholders will be settled no later than 14 April 2011.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4150879

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4150744