The Morning News Update with Marks & Spencer, Dunelm and Adept Telecom

FTSE 100

Marks & Spencer (MKS) – group sales up by 2.3% in the 13 weeks to 28th June, like-for-like clothing down by 0.6%, like-for-like food up by 1.7%.

FTSE 250

Dunelm (DNLM) – total sales up by 7.8% to £730.2 million in the year to 28th June, anticipates that profit before tax for the year will be approximately £116 million.

Galliford Try (GFRD) – has been selected by the Education Funding Agency for three lots on the new EFA Regional Framework – the North West, South West and London and South East regions – with a combined pipeline worth a projected £3.25 billion.

Bovis Homes (BVS) –  Legal completions in H1 2014 54% higher at 1,487, average sales price on legal completions of £210,000, 11% higher than H1 2013.

SIG (SHI) – sales from continuing operations increased by c.6.5% in the first half to c.£1.285 billion.  As a result underlying profit before tax in H1 is expected to be at least £40 million despite being adversely affected by the strengthening of Sterling against the Euro.

Small caps

Monitise (MONI) – reports FY 2014 revenue growth of 31%-33% vs expected 40%, due to faster shift to subscription model, with lower up-front revenue – expects revenue growth of at least 25% in FY 2015.

Lok’n Store (LOK) – Following a strong first half of FY2014, trading in the second half of the financial year has also been robust. Core self-storage business revenue is on target to be up 10.2% like-for-like, year-on-year.

Adept Telecom (ADT) – posts a 12.8% rise in pre-tax profits to £1.85 million for the year to March, dividend doubled to 3p per share.

Amara Mining (AMA) – announces the initial diamond drill results and further reverse circulation  results from its 2014 in-fill drilling programme at its Yaoure Gold Project in Côte d’Ivoire.

Alexander Mining (AXM) – Phoenix Global Mining (‘PGM’) has confirmed its interest in investigating the use of AmmLeach® for highly prospective zinc oxide properties in Turkey.