The Morning News Update with Sports Direct, Xaar and Leni Gas & Oil

FTSE 100

Sports Direct (SPD) – underlying pre-tax profits up by 20% at £249.3 million for the year to 27th April.

SSE (SSE) – confirms that its financial outlook for 2014/15 is unchanged from that set out in its financial results statement on 21st May.

Land Securities (LAND) – has had a strong start to the year, continuing to execute its strategy across the business.

FTSE 250

Xaar (XAR) – Trading remains in line with expectations for first half revenues of £60 million, with full year revenue of approximately £130 million projected for 2014.

Computacentre (CCC) – remains on track with expectations for 2014 and confident about the growth prospects for the long-term.

Entertainment One (ETO) –  has agreed to acquire the Paperny Entertainment group of companies, an independent television producer operating across Canada and the United States, for CAN$29.2 million.

Small caps

Cello Group (CLL) – trading for the first six months of 2014 will be well ahead of the same period in 2013 and expects to at least meet current full year market expectations.

Alkane Energy (ALK) – has agreed to acquire three power response companies for £11.75 million. Also announces a £8 million fundraising.

Gable Holdings (GAH) – announces a new agreement with RiskAlliance Group, the UK commercial insurance broker, writing commercial combined business for the UK SME market. Anticipated to deliver gross written premiums in the region of £10 million pro-rata per annum.

Leni Gas & Oil (LGO) – has raised £7 million before expenses at a placing price of 3.5p per share to accelerate the closing of the US$5 million Trinity-Inniss Oil Field transaction announced yesterday.

Finsbury Food (FIF) – expects to report full year profit ahead of market expectations.