The morning news update with ITV, Ted Baker and Avanti Communications

FTSE 100

Rolls Royce (RR.) – has accelerated its cost reduction efforts and outlined additional restructuring charges that will reduce the expected underlying profit in 2014 and 2015 by around £60m in both years, subject to employee consultation.  Excluding these charges guidance is unchanged for 2014, 2015 and the medium-term outlook.

ITV (ITV) – total external revenues up 8% to £1,803 million fro the nine months to September, on track to deliver another year of double digit profit growth.

SABMiller (SAB) – adjusted pre-tax profits up by 2% at $2.935 billion in the six months to September.

FTSE 250

Ted Baker (TED) – announces a 15.7% increase in Group revenue for the 13 week period from 10th August 2014 to 8th November 2014 compared to the same period last year.      

Premier Oil (PMO) – Year to date production averaged 64.0 kboepd, up 12.6% on prior corresponding period. Remains on track to deliver full year production at the upper end of its current guidance range of 58-63 kboepd.

Soco International (SIA) – Production averaged 13,598 BOEPD year to date through 31 October 2014. 2014 full year production now expected at 13,300-13,800 BOEPD due to higher-than-anticipated shut-downs for additional drilling rig moves

Small caps

Avanti Communications (AVN) – posts revenues of $15.5 million for the three months to September as guided previously, backlog at 30th September of $420 million.

Minera (MIRL) – Gold sales of 5,715 ounces at an average realized gold price of $1,272 per ounce for the three months to September. Loss before tax from continuing operations of $3.1 million, which excludes the impact of the investment in the Don Nicolas joint venture.

Randall & Quilter (RQIH) – expects pre-tax profits for the full year to 31st Dec 2014 to be materially below market expectations.

IDOX (IDOX) – results for the year will be in line with market expectations, with revenues 6% higher on last year.

LiteBulb (LBB) – has entered into a conditional share purchase agreement to acquire Concept Merchandise, which designs, develops and manufactures stationery and party products for the retail market, for £5 million.