The Morning News Update with Homeserve, Avanti Communications and Grafenia

FTSE 100

None reporting

FTSE 250

Homeserve (HSV) – is trading in line with expectations. The UK business has made solid progress in the first three months of the current financial year, with a continued strong retention rate.  The International businesses continue to deliver growth in customer numbers and secure affinity partnerships. 

SIG (SHI) – has acquired Sodimat SAS, a specialist distributor of flat roofing products in France, based in Lyon, for €4.4 million in cash.

DCC (DCC) – Overall trading for the first quarter to 30 June 2014 has been in line with budget. 

Small caps

Avanti Communications (AVN) – Revenues for the year to June are expected to be in line with market expectations in the range of $64m – $65m. However, PBT will be lower than consensus with approximately half of the variance resulting from bond refinancing costs of $7m and the balance attributed to exchange rate changes, year end provisioning and set up costs on large new projects.

Grafenia (GRA) –  trading across the Group continues to be broadly in line with expectations and ahead of the same point in the previous year.

SyQic (SYC) – the first half of 2014 has gone well, and the company remains confident it will meet market expectations for the current financial year. 

Photonstar LED (PSL) – Overall, the Board is very comfortable that the full year results will be in line with expectations. Also announced a £2.2 million placing.

IXICO (IXI) –  revenues for the 16 month period to 30th September are expected to comfortably meet current market expectations.