The Morning news update with Meggitt, 888 Holdings and Utilitywise

2 mins. to read

FTSE 100

Meggitt (MGGT) – underlying pre-tax profits down by 31% at £143.8 million in the six months to June, dividend up by 8% at 4.25p per share. Has also been awarded a contract by The Boeing Company to design, develop, manufacture and support the fire protection system for the 737 MAX engine and  APU.

Aggreko (AGK) – pre-tax profits down by 9% at £132 million in the six months to June, dividend up by 3% at 9.38p per share.

Intercontinental Hotels (IGHG) – operating profits down by 8% at $310 million for the six months to June, dividend up by 9% at 25 cents per share.

FTSE 250

888 Holdings (888) – Q2 group revenue was US$111 million, an increase of 15% year on year.

Inmarsat (ISAT) – pre-tax profits down from $185.5 million to $168.3 million in the six months to June, dividend up by 5% at 18.68 cents per share.

Kier (KIE) – has been appointed sole provider of Bristol Water’s £20 million per annum network maintenance services programme and has been awarded a place on all six lots of the Education Funding Agency (EFA) regional framework for school building and upgrades, estimated to be worth up to £5 billion over four years.

Small caps

Avanti Communications (AVN) – has announced a new multi-year contract with African service provider, iSAT, a subsidiary of the Wananchi Group, East Africa’s leading home entertainment operator.

Utilitywise (UTW) – Revenue and adjusted profit before tax is expected to be in line with market expectations. Net cash balances at 31st July 2014 stood at approximately £9.7 million, comfortably ahead of market expectations.

ServicePower Technologies (SVR) – Trading for the half-year is in line with management expectations following the necessary investment in products, staff, infrastructure, and customer implementations.

Action Hotels (AHCG) – a memorandum of understanding has been signed with leading hotel operator Accor for the management of the new 160 room freehold hotel which will be built in the prime business district of Sharq in Kuwait City.

Good Energy Group (GOOD) – following a competitive tender process terms have been agreed to sell its 49.9MW solar site at West Raynham, near Fakenham, Norfolk, to a member of the Trina Solar group. The total sale value, which will be received in cash, will be between £3.4 million and £6.8 million and the net profit on sale received by the company for the development of the site will be between £1.4 million and £3.8 million depending on when the site is completed and commissioned.

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