The morning news update with Rio Tinto, Poundland and Netcall

1 mins. to read

FTSE 100

Legal & General (LGEN) – announces a bulk annuity contract with the TRW Pension Scheme removing £2.5 billion liabilities from TRW Automotive’s balance sheet and insuring over 22,000 of the Scheme’s pensioners. 

Rio Tinto (RIO) – has formally approved the development of a fourth pipe, known as A21, at the remote subarctic Diavik mine site.

SABMiller (SAB) – The Coca-Cola Company, SABMiller and Gutsche Family Investments have agreed to combine the bottling operations of their non-alcoholic ready-to-drink beverages businesses in Southern and East Africa.

FTSE 250

Marston’s (MARS) – underlying group revenue up 1% to £787.6 million and underlying PBT down 3.6% to £83 million in the 52 weeks to 4th October, reflecting disposals and a shorter trading period.

Poundland (PLND) – Underlying pre-tax profits up by 34.2% to £12.6 million in the 26 weeks to 28th September.

Stagecoach (SGC) – the Department for Transport awards the new InterCity East Coast rail franchise to Stagecoach’s venture with Virgin, Inter City Railways Limited.

Small caps

Netcall (NET) – levels of recurring revenue combined with a strong pipeline and an enhanced product suite give the Board confidence in achieving a successful outcome for the full year.

Distil (DIS) – Blackwoods Gin been approved by the US Alcohol and Tobacco Tax and Trade Bureau for sale and distribution in the United States, the single largest market for UK produced gin in the world.

Avingtrans (AVG) – has signed a 10 year long term agreement with PFW Aerospace GmbH (part of Airbus) valued at c.£25 million over its duration based on the current predicted volumes.

Driver Group (DRV) – announces the award of a £7.8 million Project Management Contract by the Sultanate of Oman, Ministry of Transport and Communications.

Miton Group (MGR) – adjusted profit for 2014 is expected to be at market forecasts on an underlying basis. However given a lower level of assets under management at the year end it is anticipated that profits for 2015 will be significantly less than current market forecasts.

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