The morning news update with Centrica, Greene King and Conviviality Retail

FTSE 100

Centrica (CNA) – British Gas is to reduce household gas prices by 5%, cutting annual energy bills on average by £37.

FTSE 250

Balfour Beatty (BBY) – has been appointed as the sole contractor to a new UK-wide civil engineering and infrastructure framework for public works. The framework is valued at up to £1.5 billion, runs until February 2019 and individual projects are expected to be valued at up to £40 million.

Kier (KIE) – has been awarded over £145m of new construction contract awards in the Middle East since the start of the calendar year.

Greene King (GNK) – Retail like-for-like sales up 2% over Christmas & the New Year and 0.6% year-to-date (11th January).

Small caps

IQE (IQE) – has concluded successfully the renegotiation of a long-term supply contract with an existing tier 1 customer for the supply of wafer products used in wireless applications.

Pressure Technologies (PRES) – has completed the acquisition of the freehold land and buildings at Meadowhall Road, Sheffield where the company’s subsidiary, Chesterfield Special Cylinders has been operating since July 2005 and where Chesterfield Biogas is also based. The company has paid £3,360,000, inclusive of £160,000 stamp duty, funded from existing debt facilities.

Conviviality Retail (CVR) – Group profit before tax increased by 46.7% to £3.2 million in the 26 weeks to 26th October. Reports strong Christmas trade in the two weeks to 4th January 2015 with growth 2.6% above last year.

Alliance Pharma (APH) – Turnover for 2014 is expected to be £43.5 million, pre-tax profits are expected to be in line with current market expectations.

Brady (BRY) – Trading for the second half of the year has continued to be in line with expectations and as a result full year results are expected to be in line with market expectations. Cash at 31st December 2014 is £9.5 million, which is significantly ahead of market expectations