Member Info for mulledwine

FOR IMMEDIATE RELEASE 1st April 2011 AGA WIDENS COOKER RANGE WITH ACQUISITION OF REDFYRE AGA Rangemaster Group plc ("the Group"), the specialist in range cookers and kitchen living, has acquired the business and principal assets of Redfyre Cookers ("Redfyre") and Don Heating Products ("Don") from Gazco Ltd. They currently have a combined revenue of around £1 million per annum. The consideration is approximately £0.75 million, subject to a final stock adjustment, and has been funded from the Group's existing cash resources. Redfyre, whose history dates back to the 1930s, is a well-established cast iron cooker brand selling oil, gas and electric range cookers. Redfyre has much in common with the Group's Irish based Stanley operation and the two brands will now work closely together. Don has, for many years, supplied spare part components for cast iron range cookers in the field including AGA, Rayburn, Stanley and Redfyre and fits neatly with the Group's product upgrade programme.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4148158

http://www.investegate.co.uk/Article.aspx?id=201104011012331184E

Trading Statement Future plc, the international special-interest media group, today provides a trading update ahead of its results for the half-year ended 31 March 2011 which will be announced on 20 May 2011. As outlined in the Interim Management Statement published on 9 February 2011, trading has remained challenging. Consistent with this, Group revenue for the six months to 31 March is down some 2% - 3% in aggregate on the corresponding period last year and trading profits continue to be affected by the structural shift to digital distribution, particularly in our largest segment, videogaming. Despite these trends, the Board is encouraged by the notably strong return on prior investment that we are seeing from some of our digital and partnership products and believes that the Group will benefit from accelerated organic investment. The Group is therefore maintaining the planned investment in both the UK and the US, despite margin pressure, to ensure the Group is well positioned for the future. This reduces potential trading profits at the full-year by some £2m. However, the impact on pre-tax profits will be fully mitigated by reduced charges in the income statement for amortisation of intangible assets and for net finance costs. Taking account of all of these factors, and as the Group continues to be cash generative, the Board anticipates maintaining the interim dividend when this is announced on 20 May 2011.

http://www.investegate.co.uk/Article.aspx?id=201104010700090821E

Still challenging at Future Date: Friday 01 Apr 2011 LONDON (ShareCast) - Shares of media company Future plunged 14% after it said trading has remained challenging and group revenue for the six months to 31 March fell 2-3% from the same time last year. It added that trading profits continue to be affected by the structural shift to digital distribution, particularly in Future's largest segment, videogaming. Despite these trends, Future said it is encouraged by a strong return on previous investment from some digital and partnership products and believes that the it will benefit from accelerated organic investment. The group is therefore maintaining the planned investment in both the UK and the US, despite margin pressure, to ensure the group is well positioned for the future, it said in Friday's company statement. This reduces potential trading profits at the full-year by some £2m, it warned. However, the impact on pre-tax profits should be fully mitigated by reduced charges in the income statement for amortisation of intangible assets and for net finance costs. Future expects to maintain the interim dividend when this is announced in May.

http://www.investegate.co.uk/Article.aspx?id=201104010800021007E

Marks & Spencer returns to France Date: Friday 01 Apr 2011 LONDON (ShareCast) - Marks & Spencer is having a second crack at the French market, 10 years after it withdrew from the country. A first store will be opened on Paris’s Champs Elysees later this year, selling women’s clothing and food. A website will also be launched, serving the whole of France. M&S said it is also in talks about opening a number of ‘Simply Food’ stores in and around Paris. M&S shut up shop in France in 2001, selling its 18 stores in the country to department store group Galeries Lafayette. The sale came as part of a withdrawal from Western Europe, although M&S does have a presence in the market again having opened its first store in Spain for eight years in 2009. Speaking from Paris, M&S chief executive Marc Bolland said: “Marks & Spencer has great brand awareness here in France and a place in customers' hearts. We're very excited to be returning with an e-commerce and retail offer to delight customers with our full range of clothing and home products, and the exceptional food from our Paris store."

http://www.investegate.co.uk/Article.aspx?id=201104010730010792E

Update on Disposal of Well Support Division John Wood Group PLC ("Wood Group") Satisfaction of Conditions for Disposal of Well Support Division Following receipt of shareholder approval at a General Meeting of the Company held on 31 March, Wood Group also confirms that the condition relating to US anti-trust approval has been satisfied. Each of the principal conditions under the agreement for the disposal of the Well Support division to GE Energy Manufacturing, Inc, having been satisfied, completion is expected to take place at a date in April 2011 to be confirmed. Robbie M.B. Brown, Company Secretary.

http://www.investegate.co.uk/Article.aspx?id=20110401081202P65C7

http://www.investegate.co.uk/Article.aspx?id=20110401072858PD387

Shell sells Chilean downstream business Date: Friday 01 Apr 2011 LONDON (ShareCast) - Oil giant Royal Dutch Shell is offloading its downstream assets in Chile for about $614m as part of its strategy to concentrate downstream assets into fewer and larger markets. The business, which includes retail, commercial fuels bitumen and chemicals operations, is being bought by Chilean conglomerate Quinenco. Earlier this week, Shell announced it has agreed to sell its Stanlow oil refinery to Indian energy group Essar in a deal worth some $1.3bn (£812m). Speaking about today’s deal, Shell’s downstream director Mark Williams said: “This deal is consistent with our strategy to concentrate our Downstream footprint and I strongly believe it is in the best possible interests of staff, Shell shareholders and our customers.” RG

Gareth Jones, Chief Executive of Gooch & Housego commented: - "The acquisition of Crystal Technology consolidates Gooch & Housego's global leadership in the field of acousto-optics and provides self-sufficiency in the strategically important crystals that are central to several of our most exciting new products. In addition to excellent people and top quality products Crystal Technology also brings new capabilities in electro-optics and fibre optics to G&H that support our ongoing diversification into markets such as Defence, Life Sciences and Telecommunications."

http://www.investegate.co.uk/Article.aspx?id=201104010700090842E

Gooch & Housego buys Crystal Technology Date: Friday 01 Apr 2011 LONDON (ShareCast) - Optical components maker Gooch & Housego announced its has bought California based acousto-optic manufacturer Crystal Technology for $13.75m. The deal comprises of $9.625m for the business and $4.125m in respect of near cash equivalents being left in the business upon sale, Gooch & Housego confirmed in a company statement. Commenting on the acquisition, chief executive Gareth Jones said, "The acquisition of Crystal Technology consolidates Gooch & Housego's global leadership in the field of acousto-optics and provides self-sufficiency in the strategically important crystals that are central to several of our most exciting new products." In the same statement Gooch & Housego said market conditions remain favourable and trading, supported by a strong order book, has continued ahead of management expectations. It added that the integration of EM4 is progressing to plan as a number of opportunities to supply customers with complex solutions incorporating both active and passive fibre optic components are developed. CJ

BILT yanks flotation Date: Friday 01 Apr 2011 LONDON (ShareCast) - The planned flotation of BILT Paper, the paper products giant owned by Indian billionaire Gautam Thapar, has been put on hold for a few months. Ballarpur Industries Limited (BILT) has had second thoughts about the timing of its plans to float after an acquisition announcement this week by International Paper in the Indian market. Ballarpur is going to let the dust settle after International Paper’s acquisition and see whether this results in a new benchmark for the valuation of paper companies in India. Market observers had speculated that Ballarpur was looking to raise around $330m from the flotation. “Given the consideration of the interests of existing shareholders in Ballarpur Industries Ltd, and with the objective of maximising value for them, Ballarpur believes it is important to study the impact of this acquisition valuation over the next few months, and the potential rerating possibilities, as against the initial public offering (IPO) valuation in London at this time which is dependent on the current UK IPO market sentiments,” the company said. --- jh

Commenting on the statement, 3i's Chief Executive, Michael Queen, said: "We have made good strategic progress across our whole business. Overall, the private equity portfolio has performed well. There have, however, been marked regional differences, with strong growth in Northern Europe counterbalanced by weaker performance from UK companies. This regional dispersion in performance is due to a combination of macro and company specific factors."

http://www.investegate.co.uk/Article.aspx?id=201104010700080775E

UK firms lag European peers, says 3i Date: Friday 01 Apr 2011 LONDON (ShareCast) - UK companies lagged behind their peers in Northern Europe in the year to 31 March, the private equity group 3i said in a trading update ahead of its full-year results. The firm said it had seen good progress across the whole business. “Overall, the private equity portfolio has performed well,” chief executive Michael Queen said. “There have, however, been marked regional differences, with strong growth in Northern Europe counterbalanced by weaker performance from UK companies.” He said the regional variation was due to a combination of “macro and company specific factors.” 3i’s investments in the UK include the toy retailer Early Learning Centre and the nightclub operator and record label Ministry of Sound. RG