The Morning new update with National Grid, Pace and Petra Diamonds

FTSE 100

National Grid (NG.) – has started the year well and expects to grow its regulated assets by approximately 5% during 2014/15, in line with previous guidance.

Aberdeen Asset Management (ADN) – assets under management as at 30th June 2014 totalled £322.5 billion, a 0.6% decrease from 31st March 2014.

Reckitt Benckiser (RB.) – reported operating profits up by 30% at £1.06 billion in the six months to June, dividend flat at 60p per share.

FTSE 250

Petra Diamonds (PDL) – Production up 17% to 3,110,823 carats in the year to June, above market guidance of 3 million carats.

Cranswick (CWK) – Trading so far in the current financial year has been in line with expectations. Revenue in the three months to 30th June was up by 5% reflecting continued growth across most product categories.

Pace (PIC) – Profit after tax up 9.3% to $55.4 million in the six months to June, dividend up by 23% at 2.25 cents per share.

Small caps

K3 Business Technology (KBT) – has bought Retail Technology, the Microsoft Dynamics based EPOS provider to smaller retailers, for a total consideration of £0.61 million cash in addition to the existing cash in the business at completion. 

Tristel (TSTL) – enjoyed a strong second half performance which has led to a fifth profit upgrade this financial year. Results for the year ended 30th June 2014 will show revenues and pre-tax profit ahead of expectations that were last updated in June. 

Waterlogic (WTL) – as delivered a strong financial performance for the six months to June, with revenues at approximately $68.6 million.

Stadium Group (SDM) – acquires United Wireless, a specialist in the design and manufacture of electronics for the machine-to-machine (M2M) wireless sector, for a maximum total consideration of £8 million in cash and shares.

Aeorema Communications (AEO) – confirms that profits before taxation will be not less than market expectations for the year to June. The company has undertaken a number of high profile events this year including the first of its three year contract at Cannes Lions. Aeorema has also extended and won new roster positions in the financial services industry.