The morning news update with Dixons Carphone, SAGA and Polo Resources

FTSE 100

Babcock (BAB) – confirms it has entered into contracts with the UK Ministry of Defence for the acquisition of the Defence Support Group and its associated service provision contract. Consideration is £140 million and Babcock estimates that the service provision contract and output based services will be worth c £2 billion over ten years.  

Dixons Carphone (DC.) – posts a statutory loss before tax from continuing operations of £20 million for the 31 weeks to 1st November but a pro-forma headline pre-tax profit of £100 million. Announced interim dividend of 2.5p per share.

WPP (WPP) – announces the appointment of Roberto Quarta to its Board as a non-executive director and Chairman-designate.

FTSE 250

SAGA (SAGA) – Current trading remains in line with market expectations for the full year.

Small caps

Imaginatik (IMTK) – has signed a “significant” five-year technology and consultancy contract with a global manufacturer of construction and mining equipment.

Share (SHRE) – current year profit before tax will be below current market expectations after a subdued Q3.

Polo Resources (POL) – NAV as at 12th December was 27.2p per share.

First Property (FPO) –  has acquired the entire issued share capital in two special purpose vehicles which own two office buildings in Poland. One of the office buildings is located in central Warsaw and the other in the northern part of the Tri-City region of Poland.

Ortac Resources (OTC) – announce the results from an 8 tonne bulk sample recently mined from the company’s Šturec deposit in Slovakia, sent for pilot scale thiosulphate leaching tests. Reports gold and silver recoveries of 90.5% and 48.9% respectively.