The morning news update with Tesco, Dairy Crest and DP Poland

1 mins. to read

FTSE 100

Tesco (TSCO) – due to the accelerated recognition of commercial income and delayed accrual of costs profit guidance for the six months to 23rd August has been overstated by £250 million. Work is ongoing to establish the extent of these issues and what impact they will have on the full year.

WPP (WPP) – has agreed to invest $25 million in ad technology provider AppNexus, to enhance AppNexus’ position as the world’s largest independent ad technology provider.  

British Land (BLND) – has exchanged on the sale of 18 apartments, reflecting an average capital value of £4,750 per sq ft as well as setting new records for prices in Mayfair. At £210 million, the proceeds represent close to 50% of the total gross development value of the private residential element of the scheme. 

FTSE 250

Dairy Crest (DCG) – expects to report overall first half group profits broadly in line with last year.

Daejan (DJAN) – Net Rental Income in the three months to June in both the UK and USA was in line with expectations. There were no significant sales of property in the first quarter.

International Public Partnership (INPP) – announces the disposal of its minority interests in the Sheffield Building Schools for the Future project. The effective 19% interest will be acquired for £3.2 million.

Small Caps

Amara Mining (AMA) – announces further encouraging results from its 2014 drilling programme at its Yaoure Gold Project in Côte d’Ivoire, which continue to confirm the strong continuity of the high grade CMA zone.

DP Poland (DPP) – posts a loss of £1.53 million for the six months to June.

Sprue Aegis (SPRP) – posts pre-tax profits of £2.15 million for the six months to June.

Publishing Technology (PTO) – the strategic review undertaken by the new Group CEO, Michael Cairns, is now complete and the Board has implemented a new growth based strategy for the Group with a target to exceed £25m revenue with a 20% PBIT within the next 5 years.

Avation (AVAP) – has agreed to acquire 21,065,334 ordinary shares in aircraft lessor Capital Lease Aviation at a price of 20.5p per share in cash, increasing its holding of voting rights in CLA’s issued share capital to 90.59%.

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