The Morning News Update with Shire, AVEVA and Sprue Aegis

1 mins. to read

FTSE 100

Rolls Royce (RR.) –  Airbus has selected its new Trent 7000 as the exclusive engine for the new Airbus A330neo

easyJet (EZJ) – has selected CFM International as its engine supplier to provide 270 engines to power its firm order of 35 Airbus current generation A320 aircraft and 100 Airbus new generation A320neo aircraft.

Shire (SHP) – received a further revised proposal from AbbVie on 13th July comprising £24.44 in cash and 0.8960 shares of new AbbVie – an indicative value of £53.20 per Shire share. Has indicated to AbbVie that it would be willing to recommend an offer at the level of the Revised Proposal to Shire shareholders subject to satisfactory resolution of the other terms of the offer.

FTSE 250

AVEVA (AVV) – Since the announcement of the FY14 results on 27th May the company has not seen any noticeable shift in the trends reported at that time in either our end markets or from a geographical perspective.

Small caps

Progility (PGY) – has acquired the entire share capital of Starkstrom Group for an aggregate consideration, payable in cash and loan notes, of £9.68 million from its owner managers.

Symphony Environmental (SYM) – Revenues are expected to be approximately £3.3 million for the first half with administrative expenses significantly reduced following the cost reductions undertaken during 2013. 

K3 Business Technology (KBT) – Trading in the second half of the financial year across the Group has been good and, accordingly, the Board expects results for the year to be in line with market expectations.

Sprue Aegis (SPRP) – H1 2014 has seen another record period of trading reflected in sales of £23.8m up 11% on the same period last year.  Has continued to benefit from strong operational leverage and operating profit pre-exceptional costs is expected to be significantly higher than H1 2013. 

Plastics Capital (PLA) – has successfully converted a major design project in its plastic bearings division. Sales are expected to reach more than £0.5m on an annualised basis and lifetime sales for the project are expected to be in excess of £4.0m.

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