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The morning news update with National Grid, Rentokil and Songbird Estates

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FTSE 100

National Grid (NG.) – Adjusted operating profit 2% higher at £1.611 billion in the six months to September. Interim dividend up by 0.22p at 14.71p per share.

Admiral Group (ADM) – Group turnover decreased by 3% to £513 million for the quarter to September.

International Consolidated Airlines (IAG) – in October group traffic measured in Revenue Passenger Kilometres increased by 7.5%versus October 2013. Group capacity measured in Available Seat Kilometres rose by 7.7%.

FTSE 250

Bovis Homes (BVS) – On course to deliver a strong result for 2014 with an increase in volumes expected of circa 30% over 2013.

Galliford Try (GFRD) – sales, reserved, contracted or completed are £509 million, with £433 million for the current financial year to 30th June 2015. At this stage all units required to meet half year targets have been sold.

Rentokil (RTO) – adjusted pre-tax profits up by 5.7% at £53.5 million in the quarter to September.

Small caps

Staffline (STAF) – has been selected as Preferred Bidder to provide probation and rehabilitation services in Warwickshire & West Mercia, as part of the UK Ministry of Justice’s Transforming Rehabilitation programme. 

Rose Petroleum (ROSE) – Ryder Scott Company has issued its Certified Resource Estimates on the assets recently acquired by Rose in the Cisco Dome Field, located in the Company’s Mancos Development Area in the Uinta Basin, eastern Utah. Ryder Scott’s Best (Mid-Case) Gross Unrisked Prospective Recoverable Resource Estimates for the Mancos on the Cisco acreage is 31.30 MMBO (million barrels of oil) and 187.47 BCFG (billion cubic feet gas).

Safeland (SAF) – has sold the Chandos Tennis Club to a prominent housebuilder to develop the site. The consideration payable comprises £4 million in cash, which has been received, and the balance will be satisfied by way of the transfer of four detached houses (valued by the Company’s directors in aggregate at £9.2 million) in the completed development.

Songbird Estates (SBD) – rejects the 295p per share bod from Qatar Investment Authority on the grounds that it materially undervalues Songbird.

Fitbug (FITB) – confirms the launch of its “KiQplan” TM digital health coaching platform, www.KiQplan.com.

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