The morning news update with Diageo, WH Smith and Telford Homes

FTSE 100

Mondi (MNDI) – Third quarter underlying operating profit of EUR174 million was in line with management’s expectations, comparable to the prior year period and 10% below that of the previous quarter.

Bunzl (BNZL) – At constant exchange rates, Group revenue for the third quarter has increased 6% compared to the same period last year due to underlying growth of approximately 3% and the positive impact from acquisitions.

Diageo (DGE) – Performance in the three months ended 30 September 2014 was in line with expectations, with organic net sales down 1.5% and volume down 3.5%, as Diageo again drove good mix from the stronger performance of its reserve brands, up 10%.

FTSE 250

WH Smith (SMWH) – headline pre-tax profits up by 8% at £114 million in the year to August, dividend up by 14% at 35p per share.

Man Group (EMG) – Funds under management up 25% over the three months to September at $72.3 billion with the acquisition of Numeric and Pine Grove adding $16.2 billion of assets, net inflows and performance adding another $1.3 billion of FUM and negative FX movements reducing FUM by $2.9 billion.

Balfour Beatty (BBY) – has signed a US$533 million contract (£329 million) to renovate and expand the Texas Medical Center campus in Houston, Texas, USA.  

Small caps

Statpro (SOG) – trading in Q3 2014 in line with market expectations. StatPro Revolution annualised recurring revenue increased by approximately 35% in the nine months to end September 2014 to £4.25 million.

Telford Homes (TEF) – Strong demand for Telford Homes product continues with over 500 open market sales since 1 April 2014. On track to deliver on growth and profit expectations for the next four years.

Avacta Group (AVCT) – Adjusted EBITDA loss reduced to £1.10 from £1.46 million in the year to July.

International Greetings (IGR) – trading for the six month period to 30 September is in line with expectations.

Lombard Risk Management (LRM) – EBITDA of £0.8 million in the six months to June following revenue growth partially offset by increased staffing levels to deliver additional contracts.