The Morning News Update with National Express, Phorm and Stanley Gibbons

FTSE 100

United Utilities (UU.) – has submitted to Ofwat revisions to its business plan covering the 2015-20 period. Average household bills fall by a further 0.6% to 2.3% in real terms over 2015-20 period. Total expenditure of £6.6 billion, including capex of £3.75 billion, similar to initial plan.

FTSE 250

Ultra Electronics (UKE) – its Controls business, based in Greenford, Middlesex, has been awarded a contract by Airbus to design, develop, supply and support an electrical Ground Door Opening system (eGDO) for its new A350 family of aircraft. Based on anticipated sales of the aircraft, this contract is expected to be worth in excess of £60 million revenue to Ultra over the life of the programme.

SuperGroup (SGP) – has purchased the SMAC Group, which consists of SMAC A/S, SMAC Retail A/S and SMAC Norge A/S, its long term Scandinavian distributor.

National Express (NEX) –  has retained the Essex Thameside franchise. National Express, which currently operates the line as c2c, will continue to run the service from 9 November 2014 until 2029.

Small caps

Phorm (PHRM) – posts an operating loss of $35.1 million for 2013.

Motivcom (MCM) – Trading in the first half of this year, being the 6 months to 30 June 2014, will be below the Board’s expectations

UK Oil & Gas (UKOG) – is likely to spud in late July and will update the market on any developments through its routine news releases.

Camco Clean Energy (CCE) – announce a conditional placing of 2 million shares at 4p each to raise £1 million.

Clean Air Power (CAP) – intends to raise up to £1 million through a placing at a price of 4p per share, a 27.3% discount to yesterday’s closing price.

Stanley Gibbons (SGI) – posts an adjusted profit before tax for the fifteen months ended 31 March 2014 of £5 million, down from £6 million in the year to December 2012.