The morning news update with Bunzl, Galliford Try and Staffline

FTSE 100

Meggitt (MGGT) – has acquired Precision Engine Controls Corporation from United Technologies Corporation for a cash consideration of US$44.2 million, funded from existing resources.  

Bunzl (BNZL) – has acquired Blake H Brown, Inc. which trades as Tillman.  The business, which is based in California, is engaged in the sale of a variety of personal protection equipment, principally gloves, to distributors throughout the US who supply customers operating in the welding and industrial sectors.

FTSE 250

Galliford Try (GFRD) – its Morrison Construction business has achieved financial close on the £48.5 million Hub North Scotland Ltd contract with The Highland Council to deliver a community campus in Wick.

LondonMetric (LMP) –  has completed on the acquisition of the Tesco.com Distribution Centre in Croydon from CBRE Global Investors. The purchase price is £21.1 million (net of acquisition costs), reflecting a net initial yield of 5.50%.

Ferrexpo (FXPO) – announces record production of 11.0mt of pellets in 2014, up 2% .

Small caps

Staffline (STAF) – confirms that earnings for the full year will be in line with market expectations. All divisions have traded well during the year with key contract wins in both the Recruitment Services and Welfare to Work arenas.

Amara Mining (AMA) – announces a 1.7 million ounce (63%) increase in higher confidence Indicated Mineral Resources compared to  the Mineral Resource update announced on 29th September 2014 at the Yaoure project in Cote d’Ivoire.

Plexus Holdings (POS) – has received purchase orders from Brunei Shell Petroleum Sdn Bhd to supply both High Pressure/High Temperature and standard pressured wellhead systems and services for three additional exploration wells under an existing four year contract , which runs to 2016.  The total value of the POs is estimated at £1.5 million with revenues expected to commence in April 2015.

Churchill China (CHH) – expects that operating performance will be ahead of current market estimates and significantly ahead of 2013.

IndigoVision (IND) – Sales for the 17 months ending 31st December 2014 were $82.5m, 10% ahead of the adjusted 17 month comparative.