The morning news update with Sainsbury’s, Burberry, WH Smith and Conviviality Retail

FTSE 100

Capita (CPI) – sales performance to date, together with the acquisitions completed over the year and a steady operating performance, gives the firm confidence in meeting consensus market expectations for 2014.

Rolls Royce (RR.) – The US Air Force has awarded a contract worth over $100 million to Rolls-Royce to purchase spare engines and parts for its C-130J fleet and to support Foreign Military Sales customers.

Sainsbury’s (SBRY) – Underlying profit before tax down by 6.3% to £375 million in the 28 weeks to 27th September, dividend flat at 5p per share.

Burberry (BRBY) – reported pre-tax profits down by £17 million at £142 million in the six months to September, interim dividend up by 10% at 9.7p per share.

FTSE 250

Barratt Developments (BDEV) – Group sales rate is strong and is on track to deliver target of 15,000 completions for 2015.

Centamin (CEY) – posts EBITDA of $37.8 million for the three months to September, up 16% on Q2 2014 and down 12% on the prior year period.

Kier (KIE) – remains on course to meet s expectations for the current financial year, with performance from the Residential and Services divisions weighted towards the second half of the year, as anticipated. 

WH Smith (SMWH) – Total Group sales in the first 10 weeks of the financial year were flat with like-for-like sales down 1%.

Card Factory (CARD) – continues to trade in line with expectations. In the nine months to October revenue increased by 8.7%, driven by a combination of like-for-like sales growth, new store roll out and further growth in the complementary online division.

Small caps

Conviviality Retail (CVR) – continues to perform in line with market expectations to 26 April 2015. For the 26 weeks ended 26 October unaudited revenues were broadly in line with last year at £183 million with like for like store revenue 1.7% below last year. 

Mountfield Group (MOGP) – subsidiary, Connaught Access Flooring has been awarded a contract with a value of approximately £4.5 million for the supply and installation of raised access flooring at a newly constructed City HQ office development.

Armour Group (AMR) – posts a loss from continuing operations of £939,000 for the year to 31st August.

Proteome Sciences (PRM) – it is anticipated that revenue for the current year will be lower than market expectations and somewhat lower than the revenues achieved in 2013.