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Singer Capital Markets re-iterated its "buy" recommendation on bus and train operator Go-Ahead Group (GOG). Despite likely pressure in UK bus moving forward, the broker believes the firm is well placed geographically as the business ourperforms peers in terms of deregulated bus volume growth. With that said, Singer added that it expects continued profit growth from Southern to more than offset any London bus margin pressure. Shares in Go-Ahead slipped 11p to 1,346p.

Michael Marx, Chairman, said, "Against trading conditions which showed no material improvement on the prior year, our results show a 19% rise in profit before tax. This increase in profitability was helped by an improvement in gross margins, reflecting our continued focus on operational efficiencies and on the cost base, as well as a more favourable mix of repair work undertaken. Growth opportunities for us in both the insurance and non-insurance marketplaces remain promising and our industry-leading processes and IT systems continue to underpin the efficient management of workflow and will help to support our ongoing expansion. I look forward to another year of growth in 2011 and believe that we have the foundations in place to achieve our targets".

KEY POINTS · First year of three year growth plan completed - encouraging progress - targeting growth in core insurance market and in non-insurance markets (fleet and retail) · Revenues up to £172.3m (2009: £170.9m) · Gross profit margin up by one percentage point to 47% (2009: 46%) · Profit before tax (before non-recurring items) up 13% to £6.0m (2009: £5.4m) Profit before tax (after non-recurring items) up 19% to £6.0m (2009: £5.1m) · Earnings per share (before non-recurring items) up by 17% to 10.4p (2009: 8.9p) Earnings per share (after non-recurring items) up by 24% to 10.4p (2009: 8.4p) · Net cash of £7.5m (2009: £8.3m) · Final dividend of 3.5p per share proposed (2009: 3.3p), taking total 2010 dividend to 5.3p per share (2009: 5.0p) · Major insurance contract win with Groupama, April 2010 - sole deployment of all vehicle repairs · Launch of enhanced mobile repair capability in Summer 2010 · Operational efficiencies remained a major focus · Board views growth prospects in 2011 positively

http://www.investegate.co.uk/Article.aspx?id=201103290700087658D

Following the release of full-year results, Arbuthnot issued a "strong buy" rating for Nationwide Accident Repair Services (NARS) with a 140p target price. Given that they represent a marked improvement in the company's outlook in comparison to the difficult trading environment that management had to negotiate last year, the broker is extremely positive on results. Moreover, with strong cash generation anticipated, Arbuthnot added that it expects to see a continued return of cash to shareholders through a progressive dividend policy. The shares moved ahead 2.5p to 101.5p.

GE&CR upgraded its rating for Skywest Airlines* (SKYW), Western Australia's leading regional airline, from "buy" to "strong buy" with a 40p target price. Underpinned by strong demand for the group's existing charter services and the 18 plane strategic alliance with Virgin Blue, the research house believes the firm is poised to undergo a period of rapid growth. Moreover, following the firm's agreed aircraft lessor raising funds for the pre-delivery payments on the first eight aircraft, GE&CR is confident that delivery timetable is progressing to plan. Skywest shares rose 0.75p to 29.5p.

29th March 2011 Analyst: Derren Nathan Email: derren.nathan@gecr.co.uk Tel: 0207 562 3371 Intandem Films * - Interims: Forecasts and 7p target Unchanged: downgrade stance from buy to hold following strong run

Shell sells UK refinery to Essar Date: Tuesday 29 Mar 2011 LONDON (ShareCast) - Anglo-Dutch oil giant Royal Dutch Shell has agreed to sell its Stanlow oil refinery to Indian energy group Essar in a deal worth some $1.3bn (£812m). Shell is offloading the refinery, which produces 270,000 barrels a day and is the UK’s second biggest, as part of a strategy of reducing is refining exposure to focus on larger assets. Essar said it is buying it to gain direct access to the British market and “to provide options for the export of products from its high value refinery at Vadinar, in Gujarat state, India.” Chief executive Naresh Nayyar said: “Stanlow is a high quality refinery and is an excellent fit with our strategy.” “We look forward to taking ownership of Stanlow in due course and making operational improvements which will enhance production and better optimise the facility.” RG

Faroe Petroleum losses widen Date: Tuesday 29 Mar 2011 LONDON (ShareCast) - North Sea-focused oil group Faroe Petroleum saw losses widen in 2010 as it ramped up exploration activities. Revenues were up to £15.1m from £7m the previous year, but pre-tax losses widened to £26m from £11.8m. “We look to the future with confidence as we execute our very active drilling programme with seven wells scheduled for 2011 and 17 wells planned between now and the end of 2013,” said chief executive Graham Stewart. RG

Revenues grow, but losses widen at Intandem Films Date: Tuesday 29 Mar 2011 LONDON (ShareCast) - Revenues at London-based film group Intandem Films more than doubled in the half year ended 31 December from £93.058 to £245,456, as the firm saw significant sales from the film The Veteran, due to be released in late April. However, pre-tax loss widened to £194,122, from £179,127, mainly due to the one-off profit made the previous year from the sale of a 10% stake in Los Angeles publisher Radical Publishing Inc. Loss per share was reduced to 0.18p, from 0.22p. “We expect the number and value of films represented to increase at a faster rate over the next 12 months and we are confident of delivering a significant improvement in the operating results for the full year,” said chairman Gary Smith. In January, the firm raised £0.68m by the issue of 11.4m shares at 6p, for additional working capital and “to eliminate some trade creditors”, the group said.

http://www.investegate.co.uk/Article.aspx?id=201103290730017802D

Pieter Totté, Chairman of The Real Good Food Company plc, comments: "All four businesses have made substantial progress during the year; Napier Brown has come through the difficult years of the EU sugar regime changes and is now well positioned with its supply arrangements to play an important role in the UK market; Garrett's has been relaunched as a standalone business and has quickly and successfully embarked on a growth strategy; Renshaw has delivered remarkably strong growth ahead of expectations both in the UK and Export while Haydens has continued to grow its sales while also progressing its restructuring plan."

Highlights Ø Significant progress achieved across all businesses in the Group Ø Total group sales down 7% to £200.1m (2009: £215.6m), solely due to reduced EU intervention price for sugar Ø Group EBITDA of £5.6m in line with 2009 (2009: £5.6m) Ø Profit before taxation and significant items increased to £2.34m (2009: £2.15m) Ø Improvement in earnings per share (Basic) to 2.3p (2009: 1.3p) Ø Continued reduction in net debt to £22.6m from £24.1m at the end of 2009

http://www.investegate.co.uk/Article.aspx?id=201103290700097750D

Tough year for sugar at Real Good Food Date: Tuesday 29 Mar 2011 LONDON (ShareCast) - Reforms in the EU sugar regime held back sales at Napier Brown, the sugar business of Real Good Food Company, causing a 7% decline in total group revenues. The sugar, dairy and bakery products group saw revenue fall to £200.1m in 12 months ended 31 December, down from £215.6m previously. Sales at Napier Brown dropped by a fifth from £134.9m to £108.4m in 2010, while an operating profit of £1.65m in 2009 swung to a loss of £0.08m. Chairman Pieter Totté said that “The doubling of the world price for raw sugar between July and September 2010 meant that Europe, which following the sugar regime reforms has become a net importer, very quickly began to experience a shortage in sugar supply,” as world producers found local markets more attractive, given the 28% fall in reference prices on 2008 levels (minimum prices imposed by regulators). Partly offsetting this impact were the performances of its other three divisions - Garrett Ingredients (Dairy), Renshaw (Bakery Ingredients) and Haydens (Bakery) – which all grew revenue modestly over the year. Group pre-tax profit increased to £1.95m, from £1.63m in 2009, while basic earnings per share grew from 1.3p to 2.3p. BC

Plexus wins £3.3m contract with Centrica Date: Tuesday 29 Mar 2011 LONDON (ShareCast) - Oil and gas engineering services firm Plexus has won a contract worth £3.3m with a consortium led by the Norwegian subsidiary of Centrica for the supply of its proprietary ‘POS-GRIP’ wellheads and mudline suspension systems for exploration activities offshore Norway. The consortium includes Norway-focused Det norske oljeselskap ASA and AIM-quoted Faroe Petroleum. Under the terms of the agreement, the consortium has the option to add a further three wells to the contract for approximately £2m. “Not only have we extended our prior UK North Sea relationship with Centrica into the Norwegian Continental Shelf, we have gained two new customers in Detnor and Faroe Petroleum, adding to our solid blue-chip customer list of oil and gas operators,” said Plexus chief executive Ben van Bilderbeek. The contract will begin to generate revenues in June and is estimated to last for 12-18 months.

I havnt heard of these guys but the first read is very interesting - will look deeper.

Professor Chris Toumazou, Chief Executive of Toumaz, commented, "This is an exciting time for Toumaz as we now have completed products and are entering a commercial launch period. In particular the Sensium 'digital plaster' has been submitted for medical approval and will be launched later this year. "Other key highlights are the new relationship with Dr Patrick Soon-Shiong, who has recognised the potential for distribution of the Sensium for consumer health into the US markets and the widening relationship with Quanta, who will be launching a Sensium-based diabetes monitor for Asian markets later this year. Both have also taken a stake in Toumaz. "Our Xenif all-in-one DAB, FM and Wi-Fi based processor chip and Telran, the world's lowest power radio chip have also made good progress with the former already securing a tier one customer."

Highlights · Development of the ultra-low power Sensium™ 'digital plaster' wireless monitoring system; on schedule for completion in H1 2011 and clinical trials successfully completed in US and UK · Key strategic investment from and partnership with Quanta Computing Inc ('Quanta') to develop low power wireless healthcare and wellness technology for outside the hospital environment · Successful launch of Xenif all-in-one DAB, FM, Wi-Fi baseband processor chip · Year-end cash position £2.9m · Successful launch of Telran in January 2011 - the world's lowest power radio chip · Strategic investment by and partnership with California Capital Equity (CCE), a company owned by Dr. Patrick Soon-Shiong, to develop the Sensium for use in North American sports markets, in February 2011

http://www.investegate.co.uk/Article.aspx?id=201103290700117797D