The morning news update with Tesco, AG Barr and Cupid

1 mins. to read

FTSE 100

Meggitt (MGGT) – Meggitt Sensing Systems has been selected by Bell Helicopter, a Textron Inc company, to provide gearbox oil level monitoring and chip detection systems for the new 525 Relentless commercial super-medium helicopter. Meggitt estimates that the agreements will generate gross sales of more than $30 million over the production life of this helicopter, including original equipment, spares and repairs.

Tesco (TSCO) – Alan Stewart will join the Board as Chief Financial Officer with effect from 23 September 2014, rather than the previously announced date of 1 December 2014.

IMI (IMI) – Daniel Shook will be appointed as Finance Director to succeed Douglas Hurt who has decided to retire.

FTSE 250

Tate & Lyle (TATE) – Profits warning. Despite continuing good demand across Speciality Food Ingredients and a solid performance in Bulk Ingredients, significant operational and supply chain issues together with a lower SPLENDA Sucralose performance, now leads the firm to expect adjusted profit before tax for the first half to be in the range of £95 million to £105 million.

AG Barr (BAG) – Profit on ordinary activities before tax and exceptional items increased by 14.6% to £19 million in the six months to 27th July.

PZ Cussons (PZC) – performance during the period since 30th June has been in line with management expectations.

Small caps

Cupid (CUP) – posts a net loss of £2.36 million for the six months to June.

Crimson Tide (TIDE) – posts a pre-tax profit of £25,000 for the six months to June.

Starcom (STAR) – posts a loss of $557,000 for the six months to June.

Netcall (NET) – adjusted earnings per share increased by 10% to 2.81p in the year to June, net funds of £11.4 million at the period end.

Chaarat Gold (CGH) – has signed an agreement with NFC to complete the Definitive Feasibility Study for the Chaarat Project.  The work will be carried out by NFC’s affiliated design institute NERIN.  

Comments (0)

Comments are closed.