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Eaga wins £300m backing for solar panel project By Lee Wild Date: Thursday 17 Mar 2011 LONDON (ShareCast) - Green outsourcing company Eaga, in the process of being bought by support services giant Carillion for £306m, has got the £300m of funding needed for a UK residential solar panels project. The firm has signed equity and debt facility agreements made up of £75m in equity and debt financing of £225m provided by a syndicate of five banks - HSBC, Lloyds, National Australia Bank Limited, RBS and Santander. Eaga will stump up £15m, while HSBC Environmental Infrastructure Fund and Barclays European Infrastructure Fund II will each put in £30m to complete the equity contribution. The financing will be drawn down as the Solar Photovoltaic (PV) systems are installed in more than 30,000 homes. “The pathfinder nature of the project has meant that it has taken longer than we expected to get to this stage, during which time we have had to carry significant costs to maintain our installation capability, but we are now uniquely positioned with both the financial resources and the operational capability to capitalise on this significant market opportunity,” said Eaga chief Drew Johnson.

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Commenting on the results, Henry Angest, chairman and chief executive of Arbuthnot, said: "Arbuthnot Banking Group performed well in 2010 across all its divisions. This is the result of our prudent approach which has served us well throughout the financial crisis. We now have a strong platform on which to make further progress this year and, while maintaining the important caveats of the fragile status of the geopolitical and economic environment, we are optimistic about the outlook for 2011"

OPERATIONAL HIGHLIGHTS Private Banking - Arbuthnot Latham · Customer deposits grew £57.5m to £349.5m (2009: £292m) and loans grew 19% to £211m (2009: £178m) whilst improving interest margin and asset quality · Loan to deposit ratio at 60%, maintaining strong liquidity · Pre-tax profit increased to £1m (2009: £0.2m) as the core Private Banking business began to see the results of the market opportunities that have arisen during the financial crisis Retail Banking - Secure Trust Bank · Profit before tax reduced to £8.5m (2009: £10.2m), but underlying profits up 19% after one off items · Good progress in developing three main lending activities, motor finance loan book grew to £31.3m (2009: £4.7m), point-of sale asset finance (mainly musical & cycle) grew to £21.4m (2009: £6.4m) and personal loans grew to £25.8m (2009: £14.8m) · Current account with prepaid card re-launched with cash reward scheme, account numbers growing to 9,576 (2009: 2,740) Investment Banking - Arbuthnot Securities · Returned to profitability with pre-tax profit of £1m (2009: loss of £0.1m) · Trading book performed strongly, recording a profit of £4.4m (2009: £3.7m) · Completed 16 corporate transactions including main market IPO of Shaft Sinkers Holdings PLC

FINANCIAL HIGHLIGHTS · Group pre-tax profit £5.1m (2009: £5.1m) · Group earnings per share (EPS) increased by 7% to 25.0p (2009: 23.4p) · Dividend per share (DPS) up 1p to 23p (2009: 22p) · Capital, liquidity and balance sheet remain strong

http://www.investegate.co.uk/Article.aspx?id=201103170700111047D

Arbuthnot Banking optimistic for 2011 By Caroline Jouan Date: Thursday 17 Mar 2011 LONDON (ShareCast) - Banking and financial services group Arbuthnot Banking said it is optimistic about the outlook for 2011 as it reported flat annual pre-tax profit. The niche retail bank posted a pre-tax profit of £5.1m for the year to 31 December 2010 unchanged from the year before. Group earnings per share increased by 7% to 25p. Underlining confidence in future trading, the final dividend has been increased by 0.5p to 12p per share, making a total dividend of 23 pence, compared with a payment of 22p 2009. Net interest income for the year rose to £21.1m from £16.9m. Cash and cash equivalents rose to £85.9m from £54.8m. Commenting on the results, chairman and chief executive Henry Angest said, "Arbuthnot performed well in 2010 across all its divisions. This is the result of our prudent approach which has served us well throughout the financial crisis." He added, "We now have a strong platform on which to make further progress this year and, while maintaining the important caveats of the fragile status of the geopolitical and economic environment, we are optimistic about the outlook for 2011."

Raw material costs concern Pittards Date: Thursday 17 Mar 2011 LONDON (ShareCast) - Pittards, which makes leather for goods such as Nike American football gloves and Timex watch straps, saw profits edge up in 2010 as revenues soared in line with global economic recovery, but warned that high raw material prices will make maintaining margins a challenge. Pre-tax profits on continuing operations rose to £3.3m from £800,000 on revenues that jumped to £36.1m from £24.6m. Pittards, which has tannery operations in Ethiopia and a head office and shop in Yeovil, said the surge in revenues “reflects a major recovery in volumes from key customers, partly due to the refilling of the pipelines they had emptied in late 2008/early 2009 during the global recession, and partly in response to improved consumer demand.” The consumer products section is developing well with revenue from finished products growing steadily, Pittards said. “As we enter 2011 our orderbook remains strong and our customers remain confident about consumer demand but the current inflationary climate is affecting raw material prices therefore maintaining margins will be a challenge,” the company said. “We will continue to make maximum use of our strong brand and market knowledge and experience during this growth phase in our development.”

http://www.investegate.co.uk/Article.aspx?id=201103170840531216D

Was way over sold I reckon - yes every Country in the world will review its nuclear programmes but its a PR excercise - I would be surprised if anyone cancels a build - what immediate alternative do they have ?....renewable alternatives are way down the line yet. Uranium is going to be required in large amounts for the foreseeable future. MyMy opinion only

Jerry Buhlmann, chief executive officer of Aegis Group plc, said: "Aegis had a good year in 2010, delivering strong results as our two businesses outperformed their markets. At the same time, we took significant steps in delivering on our objectives of repositioning Aegis Media and Synovate in their dynamic markets while making good progress in increasing our exposure to both faster-growing regions and digital media. Our work to strengthen our financial position meant Aegis was able to make a number of investments and acquisitions, extending our capabilities and positioning us to drive further growth. "Looking ahead, despite limited medium term visibility, we have started 2011 with increased confidence. We have a refocused strategic approach under a strengthened management team and the positive momentum from last year at both Aegis Media and Synovate has continued into 2011. While we expect to continue to face a demanding and competitive market environment, Aegis is well placed to make continued strong progress."

Group organic revenue growth of 5.8% (2009: -9.7%) · Group underlying operating margin of 13.2% (2009: 12.6%) · Strong performances in North America and faster-growing regions*** · Refocused on acquisitions to further increase faster-growing regions exposure - Charm Communications Inc investment & joint venture, acquisition of Mitchell Communication Group & agreement to purchase majority stake in COMCON · Balance sheet strengthened through convertible bond and re-financed five year revolving credit facility · Final dividend increased 10% to 2.75p · Expecting Group organic revenue growth for 2011 to be at least in line with level achieved last year · Despite cost pressures, Group underlying operating profit expected to improve further in 2011

http://www.investegate.co.uk/Article.aspx?id=201103170700101041D

Aegis hails 'year of outperformance' Date: Thursday 17 Mar 2011 LONDON (ShareCast) - Media buying and market research group Aegis saw a return to organic revenue growth in 2010. Revenue in 2010 rose 8.4%, or 6.4% in constant currency (cc) terms, to £1,459.4m from £1,346.5m in 2009. The market had pencilled in a figure of £1,428m for revenue. Group organic revenue growth was 5.8%, compared to a year on year decline of 9.7% in 2009. The group expects organic revenue growth in 2011 to be of a similar, or better, level than that achieved in 2010. Underlying operating profit rose 12.9% (12.3% in cc terms) to £192.2m from £170.3m, with the underlying operating margin climbing to 13.2% from 12.6% in 2009. Underlying profit before tax rose 8.0% (cc:7.0%) to £162.4m in 2010 (market consensus: £153.5m) from £150.4m the year before, while statutory pre-tax profit fell 25.4% (cc: 25.6%) to £68.0m from £91.2m a year earlier. Last month, the company announced that a former Spanish client which owed Aegis money had filed for pre-insolvency protection from creditors. Aegis has taken an exceptional charge of £37.0m at the pre-tax level relating to its exposure to this former client. “Aegis had a good year in 2010, delivering strong results as our two businesses outperformed their markets. At the same time, we took significant steps in delivering on our objectives of repositioning Aegis Media and Synovate in their dynamic markets while making good progress in increasing our exposure to both faster-growing regions and digital media,” said chief executive officer, Jerry Buhlmann. "Looking ahead, despite limited medium term visibility, we have started 2011 with increased confidence ... While we expect to continue to face a demanding and competitive market environment, Aegis is well placed to make continued strong progress,” Buhlmann claimed. The full year dividend has been increased by 10% to 2.75p.

Payment of a SUPPLEMENTAL Interim Dividend FOR THE YEAR ENDED 31 DECEMBER 2010 Savills plc, the international real estate advisor, is pleased to announce that in accordance with the Board's new dividend policy, a supplemental interim dividend of 4p per ordinary share, in respect of the year ended 31 December 2010, will be paid on 16 May 2011 alongside a final ordinary dividend of 6p per ordinary share, to be proposed at the Annual General Meeting of the Company on 4 May 2011, to shareholders registered at the close of business on 8 April 2011.

http://www.investegate.co.uk/Article.aspx?id=201103170705051052D

Jeremy Helsby, Group Chief Executive of Savills plc, commented: "I am pleased to report a strong performance by Savills, driven by a resurgence of investment activity in prime global markets, most notably in London and a number of Asian capitals. It was also encouraging to see conditions improve in the US and the key French and German markets, although the trend was not consistent across all of Continental Europe. In the near term, it is unclear how markets will react to the recent catastrophic events in Japan, particularly at a time of unprecedented global economic and political change. For the markets of Mainland China, Hong Kong and Singapore these events come on top of Government measures of the last twelve months to address property speculation. The longer term potential of our Asian business remains compelling, but at this stage, we continue to expect a reduced volume of transactions in the region in 2011. At the same time we anticipate further recovery in the US and parts of Continental Europe, some growth for the prime London Residential and Commercial businesses and continued growth in Fund Management. Although it is impossible to be certain in current circumstances, we anticipate that any slowdown in Asia should be largely offset by improving performances elsewhere. We are well placed, thanks to our core strengths in both the Commercial and Prime Residential sectors, to meet the developing needs of our worldwide client base. Our confidence in the longer term potential of our business is reflected in the substantial increase in annual dividend and our new dividend policy announced today."

Operating Highlights · Strong revenue performance driven by recovery of real estate transaction markets · Record performance from Asia Pacific representing 41% of Group revenue · Continued strength in Prime London Residential and Commercial markets · Significantly improved performance from Continental Europe · Cordea Savills improves profitability with AUM increasing 12% (13%cc) to £2.8bn · Continued investment through recruitment and bolt on acquisitions

Financial Highlights · Group revenue up 21% (19% in constant currency "cc") to £677.0m (2009: £560.7m) · Underlying profit before tax up 88% (83%cc) to £47.3m* (2009: £25.2m) · Profit before tax up 173% to £36.8m (2009: £13.5m) · Underlying basic earnings per share up 92% (86%cc) to 27.9p* (2009: 14.5p) · Basic earnings per share up 181% to 20.5p (2009: 7.3p) · Year end net cash £86.9m (2009: £66.3m) · New Distribution policy: Final ordinary and supplemental interim dividends total 10p per share (2009: 6p), making a 44% increase to 13p for the year (2009: 9p)

http://www.investegate.co.uk/Article.aspx?id=201103170700121050D