The Morning News Update with Tesco, Ultra Electronics and Netcall

1 mins. to read

FTSE 100

Tesco (TSCO) – Philip Clarke steps down as CEO to be replaced by Dave Lewis from 1st October. Current trading conditions are more challenging than anticipated at the time of our first quarter interim management statement on 4th June, with sales and trading profit in the first half of the year somewhat below expectations.

Sage (SGE) – acquires Exact Software Deutschland, the German payroll business of Exact Holding, for a cash consideration of €16.25 million.

Babcock (BAB) – across all businesses the 2014/15 financial year has started well, with activity levels remaining high and trading in line with expectations. 

FTSE 250

Ultra Electronics (ULE) – its Sonar Systems business has been awarded a contract, worth £9.9 million for the provision of its Sea Sentor Surface Ship Torpedo Defence (SSTD) system to be used for New Zealand’s ANZAC Frigate Systems Upgrade programme. 

F&C Commercial Property Trust (FCPT) – unaudited net asset value per share as at 30th June 2014 was 115.1 pence, up by 5.7% from 31st March.

Small caps

Microgen (MCGN) – net profits down from £3.47 million to £2.4 million in the six months to June, dividend held at 1.1p per share.

Jubilee Platinum (JLP) – Q2 operations and finance update. Unaudited revenue for Middelburg up 44.89% Q2 on Q1. Unaudited net loss for Middelburg Q1 of ZAR 2.691 million (GBP 0.151 million) converted to a net profit of  ZAR 1.247 million (GBP0.070 million) in Q2

Netcall (NET) – has continued to perform well in the second half of the year and the Board anticipates full year trading results will be comfortably in line with market expectations.

Minera IRL (MIRL) – announces positive results from an exploration diamond drilling program currently in progress at its Corihuarmi Gold Mine in Peru. Potentially economic gold mineralization, at similar grades to that currently being mined and treated by heap leach, has been intersected in new zones at the Laura and Cayhua prospects.

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