British Sky Broadcasting Group, +4.6%
British Sky Broadcasting Group PLC today led the FTSE 100 gainers after reporting a rise in revenue boosted by existing subscribers taking on new products, but overall profit fell. Revenue rose to £1.84 billion, slightly ahead of analysts’ expectations. However, optimism was capped after the chief executive Jeremy Darroch warned the UK consumer environment “remains challenging”.
SABMiller PLC Thursday pointed to signs of improvement in Europe and North America as overall lager volumes rose, boosted by a strong performance in Africa during the second quarter. The world’s second-largest brewer said revenue increased 4% in the six months to Sept. 30, while total beverage volumes rose 2%. Chief Executive Alan Clark said in a statement “We achieved a strong performance across our African business and made good progress in building on our positions in Latin America, South Africa and the Asia-Pacific region”.
Mexican precious metal miner Fresnillo PLC Thursday reported a decline in gold production for the quarter ended Sept. 30 as ore grades fell. Quarterly attributable gold production fell 9.8% compared with the year-earlier period to 114,359 troy ounces, said London-listed Fresnillo, the world’s largest primary silver producer and Mexico’s second-largest gold producer. Despite reporting a decline in gold production, shares were helped by strong demand for Gold which is up over $25 after the US agree on an extension for the debt ceiling.
Polymetal International, +5%
Russian gold producer Polymetal International PLC reported a 30% rise in quarterly gold production and said it is on track for full year production of 1.2 million ounces. As a result the company said it is on track to reach its full year gold equivalent production target of 1.2 million ounces.
Man Group, +2.7%
Man Group PLC Thursday reported that it had $52.5 billion in funds under management on Sept. 30, up from $52.0 billion on June 30, and said that despite better flows in the third quarter it remains cautious in the outlook for asset flows going forward given the uncertain macro-economic environment. The firm, one of the world’s biggest hedge fund managers, reported net inflows of $700 million during the three months to end-September, lifting total assets to $52.5 billion.
Travis Perkins, -2.2%
Travis Perkins PLC has reported that comparable sales in the third quarter rose 6.3%, saying momentum was stronger in its trade divisions with consumer markets lagging behind, and said it is on track to deliver earnings per share of around 100 pence despite lower gains from property disposals. Shares drifted lower on the news after consumer division recorded flat like-for-like sales growth in the quarter, a significant reduction from the 8.6% growth recorded in the two months to June 30 2013
Rank Group, -2.8%
The gaming-based entertainment firm Rank Group PLC expects operating profit for the full year to be marginally below market expectations, adding that is taking both revenue improvement and cost reduction actions to mitigate the impact of the revenue decline, particularly in the Mecca brand. They expect the first half of the financial year to be materially below that reported in the corresponding period last year with a stronger second half as the benefits of management actions
Xaar PLC, the inkjet printing technology group said Thursday that revenue for the third quarter of the year were in line with the Board’s expectations with and those reported at the half year. The manufacturing expansion programme, announced in the first half of 2013, remains on track to deliver the planned increases in capacity during the remainder of 2013 and the first half of 2014.
Speedy Hire, -2.2%
The provider of tools and equipment services, Speedy Hire, reported that revenue for the six months to Sept. 30 was 0.1% lower than last year but said trading momentum picked up in the second quarter, with revenue increasing by 0.4%. The group said: “Whilst we are yet to see any material improvement in construction work, the UK and Ireland division continues to navigate through the economic challenges by focusing on active hire markets, service revenue streams, an increasing proportion of non-construction related activities and progressing with the depot network and logistics strategy.”
Prime Focus London, -44%
Shares Prime Focus London PLC have announced that Prime Focus Ltd, which owns 64.98% of the company stock, served a notice calling for a general meeting to consider a resolution to cancel the company’s shares on AIM. Shares in Prime Focus London declined over 40% on the news whilst the resolution requires not less than 75% of the votes to cast a cancellation of the listing.