The Morning News Update with Land Securities, Premier Oil and IQE
FTSE 100
Bunzl (BNZL) – Overall trading is consistent with expectations at the time of the Interim Management Statement in April.
Land Securities (LAND) – has acquired a 30% stake in the Bluewater shopping centre, Kent for a cash consideration of £656 million from Lend Lease.
Babcock (BAB) – a joint venture led by Cavendish Nuclear, the UK’s largest specialist nuclear support services organisation, with partner Balfour Beatty, has been instructed to construct a major new decommissioning support facility at Sellafield. Phase 3 of the Silos’ Maintenance Facility contract worth a total of £160 million, is effective immediately.
FTSE 250
Premier Oil (PMO) – announces the appointment of Tony Durrant as Chief Executive Officer with immediate effect.
Stagecoach (SGC) – adjusted earnings per share up by 5.7% to 26p in the year to April. Full year dividend per share up 10.5% to 9.5p.
Northgate (NTG) – posts a profit before tax of £51.2 million for the year to April compared to a loss of £11.4 million in 2013.
Small caps
IQE (IQE) – has entered into a new multi-year volume manufacturing agreement expected to be worth in excess of £1m a year for epitaxial wafers for use in optical communications applications.
Gable Holdings (GAH) -Trading performance in the year-to-date has been very strong. As such the company expects to achieve another year of significant growth across each of its European territories, particularly the UK, France, Scandinavia and Italy.
PROACTIS (PHD) – has signed a landmark agreement with Fifth Third Bank which has the potential to generate revenue in excess of $2 million over its five year term. Based on the revenue that it expects to generate during the financial year ending 31 July 2015, the firm now expects that revenues and profits will exceed current market expectations for that period.
Synetics (SNX) – has suffered recent negative impacts that have substantially lowered its expectations of results, both for the first half year to 31st May 2014, and for the year to 30th November 2014, which are expected to be significantly below market expectations.
Fox Marble (FOX) – has received orders to the value of €215,000.
Comments (0)