UK Broker Upgrades / Downgrades
|Code||Company||Broker||Recomm. From||Recomm. To||Price From||Price To|
|AV.||Aviva Plc||Barclays Capital||Overweight||Overweight||627||663|
|KGF||Kingfisher Plc||BofA Merrill Lynch||Neutral||Buy|
|RIO||Rio Tinto Plc||SBG Seurities||Hold||Buy||2280|
|RIO||Rio Tinto Plc||Morgans||Hold||Add|
|SDR||Schroders Plc||RBC Capital Markets||Sector Perform||Outperform|
|SMWH||WH Smith Plc||Stifel||Hold||Buy||1880|
|AAL||Anglo American Plc||Citigroup||Neutral||Sell|
|AMFW||Amec Foster Wheeler Plc||JP Morgan Cazenove||Overweight||Overweight||739||605|
|AVV||Aveva Group Plc||Goldman Sachs||Neutral||Sell|
|BG.||BG Group Plc||AlphaValue||Reduce||Sell|
|CIU||Cape Plc||JP Morgan Cazenove||Neutral||Neutral||242||240|
|FRES||Fresnillo Plc||JP Morgan Cazenove||Overweight||Overweight||1090||1000|
|FRES||Fresnillo Plc||Deutsche Bank||Hold||Hold||570||560|
|GENL||Genel Energy Plc||JP Morgan Cazenove||Overweight||Overweight||430||410|
|HTG||Hunting Plc||JP Morgan Cazenove||Underweight||Underweight||338||263|
|LLOY||Lloyds Banking Group Plc||Deutsche Bank||Buy||Buy||91||83|
|PFC||Petrofac Ltd||JP Morgan Cazenove||Overweight||Overweight||1008||978|
|AAL||Anglo American Plc||Deutsche Bank||Hold||Hold||300||300|
|AV.||Aviva Plc||Credit Suisse||Outperform||Outperform||620||620|
|AZN||AstraZeneca Plc||Credit Suisse||Underperform||Underperform||4000||4000|
|BG.||BG Group Plc||Barclays Capital||Overweight||Overweight||1600||1600|
|BLT||BHP Billiton Plc||Deutsche Bank||Hold||Hold||935||935|
|BP.||BP Plc||Credit Suisse||Underperform||Underperform||365||365|
|BRBY||Burberry Group Plc||Credit Suisse||Underperform||Underperform||1050||1050|
|BT.A||BT Group Plc||Credit Suisse||Outperform||Outperform||510||510|
|BWY||Bellway Plc||Deutsche Bank||Hold||Hold||2634||2634|
|CAPC||Capital & Counties Properties Plc||Credit Suisse||Underperform||Underperform||450||450|
|CCL||Carnival Plc||Credit Suisse||Outperform||Outperform||4086||4086|
|CNA||Centrica Plc||Credit Suisse||Outperform||Outperform||280||280|
|CPG||Compass Group Plc||Credit Suisse||Underperform||Underperform||1050||1050|
|CPI||Capita Group Plc/The||Credit Suisse||Outperform||Outperform||1350||1350|
|CWK||Cranswick Plc||Liberum Capital||Buy||2200|
|DGE||Diageo Plc||Credit Suisse||Outperform||Outperform||2100||2100|
|FRES||Fresnillo Plc||Barclays Capital||Equal weight||Equal weight||700||700|
|GENL||Genel Energy Plc||Barclays Capital||Overweight||Overweight||350||350|
|GMS||Gulf Marine Services Plc||JP Morgan Cazenove||Overweight||Overweight||151||151|
|HLMA||Halma Plc||Credit Suisse||Outperform||Outperform||955||955|
|HMSO||Hammerson Plc||Deutsche Bank||Buy||Buy||775||775|
|HOC||Hochschild Mining Plc||Barclays Capital||Overweight||Overweight||65||65|
|HOC||Hochschild Mining Plc||JP Morgan Cazenove||Neutral||Neutral||60||60|
|IAG||International Consolidated Airlines Group SA||Credit Suisse||Outperform||Outperform||852||852|
|IMT||Imperial Tobacco Group Plc||Credit Suisse||Outperform||Outperform||3900||3900|
|LAM||Lamprell Plc||JP Morgan Cazenove||Overweight||Overweight||131||131|
|LSE||London Stock Exchange Group Plc||Credit Suisse||Outperform||Outperform||2900||2900|
|MGGT||Meggitt Plc||Credit Suisse||Underperform||Underperform||375||375|
|MPI||Michael Page International Plc||Credit Suisse||Underperform||Underperform||440||440|
|MRW||WM Morrison Supermarkets Plc||Barclays Capital||Underweight||Underweight||155||155|
|MRW||WM Morrison Supermarkets Plc||Deutsche Bank||Hold||Hold|
|NG.||National Grid Plc||Credit Suisse||Underperform||Underperform||820||820|
|NXT||Next Plc||Credit Suisse||Underperform||Underperform||6600||6600|
|PRU||Prudential Plc||Deutsche Bank||Hold||Hold||1565||1565|
|PRU||Prudential Plc||Credit Suisse||Outperform||Outperform||1900||1900|
|PSN||Persimmon Plc||Credit Suisse||Underperform||Underperform||1383||1383|
|RDSA||Royal Dutch Shell ‘A’||Barclays Capital||Overweight||Overweight||2750||2750|
|RDSA||Royal Dutch Shell ‘A’||Credit Suisse||Outperform||Outperform||2125||2125|
|RGU||Regus Plc||Credit Suisse||Outperform||Outperform||400||400|
|RIO||Rio Tinto Plc||Deutsche Bank||Buy||Buy||3300||3300|
|RMG||Royal Mail Plc||Credit Suisse||Underperform||Underperform||400||400|
|SBRY||J Sainsbury Plc||Deutsche Bank||Hold||Hold|
|SGE||Sage Group Plc/The||Credit Suisse||Underperform||Underperform||515||515|
|SKY||Sky Plc||Deutsche Bank||Buy||Buy||1500||1500|
|SMWH||WH Smith Plc||JP Morgan Cazenove||Overweight||Overweight||1700||1700|
|SMWH||WH Smith Plc||Deutsche Bank||Buy||Buy||1850||1850|
|TPK||Travis Perkins Plc||Credit Suisse||Outperform||Outperform||2255||2255|
|TSCO||Tesco Plc||Deutsche Bank||Buy||Buy|
|UBM||UBM Plc||Credit Suisse||Outperform||Outperform||630||630|
|WG.||John Wood Group Plc||JP Morgan Cazenove||Underweight||Underweight||550||550|
|WTB||Whitbread Plc||Credit Suisse||Outperform||Outperform|
|ZPLA||Zoopla Property Group Plc||Credit Suisse||Outperform||Outperform||290||290|
US Broker Upgrades / Downgrades
|Code||Company||Broker||Recomm. From||Recomm. To||Price From||Price To|
|BAC||Bank of America||Sandler O’Neill||Hold||Buy|
|BSFT||BroadSoft||Wells Fargo||Market Perform||Outperform|
|CAA||CalAtlantic Group||Barclays||Equal weight||Overweight||$44||$38|
|CMA||Comerica||FBR Capital||Market Perform||Outperform||$48||$48|
|EMCI||EMC Insurance Group||Sandler O’Neill||Hold||Buy|
|EMR||Emerson Electric||Standpoint Research||Hold||Buy|
|EPD||Enterprise Products Partners||Morgan Stanley||Equal weight||Overweight|
|ITG||Investment Technology Group||JP Morgan||Neutral||Overweight|
|NMFC||New Mountain Finance||Robert W. Baird||Neutral||Outperform||$15||$13|
|OME||Omega Protein||Pivotal Research Group||Hold||Buy||$19||$23|
|OKE||ONEOK||Morgan Stanley||Equal weight||Overweight|
|BIN||Progressive Waste Solutions||Barclays||Underweight||Overweight||$23||$27|
|SANM||Sanmina||RBC Capital Markets||Underperform||Sector Perform||$18||$18|
|SEP||Spectra Energy Partners||Morgan Stanley||Underweight||Equal weight|
|SCM||Stellus Capital Investment||Robert W. Baird||Neutral||Outperform||$12||$11|
|VOYA||Voya Financial||BofA Merrill Lynch||Neutral||Buy|
|WCN||Waste Connections||Raymond James||Outperform||Strong Buy|
|AMID||American Midstream Partners||Wunderlich||Buy||Hold|
|AWI||Armstrong World Industries||Barclays||Equal weight||Underweight||$53||$45|
|CWEI||Clayton Williams Energy||Raymond James||Market Perform||Underperform|
|LPNT||LifePoint Health||Goldman Sachs||Buy||Neutral|
|MDC||MDC Holdings||Barclays||Overweight||Equal weight||$35||$24|
|BIN||Progressive Waste Solutions||Gabelli & Co||Buy||Hold|
|PRU||Prudential Financial||BofA Merrill Lynch||Buy||Neutral|
|SDRL||Seadrill Ltd||BofA Merrill Lynch||Neutral||Underperform|
|TIF||Tiffany & Co||Goldman Sachs||Buy||Neutral|
|VALE||Vale SA||HSBC Securities||Buy||Hold|
|WGP||Western Gas Equity Partners||Wunderlich||Buy||Hold|
|SPGYF||Whitecap Resources||Barclays||Overweight||Equal weight|
|ALXN||Alexion Pharmaceuticals||Credit Suisse||Neutral|
|ALNY||Alnylam Pharmaceuticals||Credit Suisse||Outperform||$154|
|BMRN||BioMarin Pharmaceutical||Credit Suisse||Outperform|
|BAMXY||Bayerische Motoren Werke||Citigroup||Sell|
|BAH||Booz Allen Hamilton Holding||Jefferies||Buy|
|CHRS||Coherus BioSciences||Credit Suisse||Outperform|
|EEFT||Euronet Worldwide||Northland Capital||Outperform|
|FCAU||Fiat Chrysler Automobiles||Citigroup||Neutral|
|GILD||Gilead Sciences||Credit Suisse||Outperform||$125|
|HII||Huntington Ingalls Industries||Guggenheim||Buy||$145|
|PTCT||PTC Therapeutics||Credit Suisse||Outperform|
|RL||Ralph Lauren||Standpoint Research||Buy|
|REGN||Regeneron Pharmaceuticals||Credit Suisse||Neutral|
|SAIC||Science Applications International||Jefferies||Buy||$57|
|SYKE||Sykes Enterprises||Barrington Research||Market Perform|
|VRTX||Vertex Pharmaceuticals||Credit Suisse||Outperform||$151|
Key UK Corporate Snapshots Today
32Red Plc (TTR.L) Announced, in its trading update for the year ended 31 December 2015, that the Company has delivered record annual net gaming revenues in 2015, up 51% to £48.6 million (2014: £32.1 million). This very strong performance was driven by a combination of accelerated organic growth in our core business (+35% on 2014) and a contribution from the Roxy Palace business that was acquired on 14 July 2015. The increased investment in marketing that is focused on its strict returns criteria, has accelerated organic revenue growth in the UK market. The focus has remained on the development of mobile device gaming and as a result mobile revenues are up 71% on 2014, representing 44% of total 32Red casino revenues (2014: 32%). The relocation of the acquired Roxy Palace business to Gibraltar and the integration of the operations was completed in December 2015, slightly ahead of schedule. Net Gaming Revenues have been in line with expectations during this integration phase and the Roxy Palace business will benefit from increased and more efficient marketing in the year ahead. This acquisition demonstrates the Company’s ability to identify and deliver attractive acquisitions and we will continue to explore further value creating opportunities in 2016. The company’s early trading in 2016 has been strong across its products with revenues for the first nineteen days in January up 27% on the corresponding period in 2015 and up 54% including contribution from Roxy Palace.
7digital Group Plc (7DIG.L) Announced, in its pre-closing trading update for the year ended 31 December 2015, that the annualised monthly recurring revenues surged by 72% to approximately £5.8 million compared to £3.4 million in 2014. Licensing revenues also rose by 21% to approximately £6.5 million (£5.4 million in 2014). Production revenues grew by. 49% to approximately £1.8 million (2014: £1.2 million) and content revenues fell by 50% to approximately £2.0 million (2014: £4.0 million). The company stated that it maintained strict control of its operating cost base, as the total administration costs showed a small reduction against the previous year. The company separately announced that it has won a contract with eMusic, a leading music discovery and download-to-own destination. The company will power the eMusic service re-launch and will allow eMusic’s new owners to build new features into the service through use of its technology and content management system.
Acacia Mining Plc (ACA.L) Announced, in its fourth quarter production results, that the gold production in the Q4 2015 grew to 200,723 ounces from 181,084 ounces in the same period last year. Meanwhile, the full year gold production rose marginally by 2% to 731,912 ounces from 718,651 ounces in the previous year. Gold sales in the Q4 2015 rose to 198,617 ounces from 194,243 ounces in the same period prior year. During the quarter, the company’s cash balance increased by S$7 million to approximately $233 million, despite incurring $7 million of retrenchment costs.
AIREA Plc (AIEIA.L) Announced, in its trading update for the six months ended 31 December 2015, that it has consolidated its manufacturing operations from four locations onto two existing sites occupied by the Company at Ossett and Wakefield, as part of its on-going strategic efficiency programme. As a result, whilst there are one-off significant costs in respect of the site consolidation, on-going costs will be significantly reduced going forward. These include cost savings following the expiry of the lease of one of the properties vacated. In addition, Airea has agreed to lease to a third party its freehold property in Bury, which is no longer required for group operations as set out above, once it has been fully vacated by the Company in the third quarter of this financial year. It also announced that the interim results for the six months ended 31 December 2015, will be announced in February 2016.
Alliance Pharma Plc (APH.L) Announced, in its pre-close trading update ahead of its preliminary results for the year ended 31 December 2015, that the Group revenue for 2015 is expected to be more than 10% up at £48.2 million, including revenues of £0.8 million following the acquisition of the Healthcare Products Business from Sinclair IS Pharma plc on 17 December 2015. The company’s trading profit before tax is expected to be in line with the Board’s expectations. MacuShield™, acquired in early February 2015, contributed £3.5 million of sales in the year, and continued growth in the Hydromol™ dermatology range resulted in sales 10% above last year at £6.6 million. Forceval™ UK grew strongly with sales of £2.2 million, £0.6 million above last year, following continued recovery from previous stock-outs. These and other growth areas offset the impact of the hand back of nine products at the end of 2014 to Novartis, which generated sales of £1.6 million in 2014, and the continued decline in sales of Nu-Seals™, from £2.5 million in 2014 to £1.9 million in 2015, due to generic competition in Ireland. The company expects to announce its preliminary results for the twelve months ended 31 December 2015 on Thursday 7 April 2016.
Amino Technologies Plc (AMO.L) Announced the availability of new Amino 6 Series, a comprehensive range of 4K Ultra HD and HEVC (High Efficiency Video Coding) Hybrid TV Devices to spearhead operator rollout of next generation entertainment services. According to industry analysts IHS Electronics and Media, strong growth in demand for 4K Ultra HD services is anticipated over coming years. IHS forecast the worldwide 4K Ultra HD display market is expected to reach $52 billion with over 140 million homes watching 4K Ultra HD content by 2020. Amino’s new 6 Series range of future-proof 4K Ultra HD and HEVC Hybrid TV Devices includes a number of different models providing operators with flexible options to deploy next generation services.
Amlin Plc (AML.L) Announced that all of the regulatory and anti-trust clearances set out in paragraph 2 of part IV of the scheme document sent to Amlin shareholders on 5 October 2015 (the “Scheme Document”) have been satisfied or waived. As a result, the Court Hearing to sanction the Scheme has been scheduled to be held on 28 January 2016. The Effective Date of the Scheme is expected to be on 1 February 2016.
Bango Plc (BGO.L) Announced, in its trading update for the twelve months ended 31 December 2015, that it is focussed on increasing End User Spend through the Bango Payment Platform, to take advantage of the rapid global growth in digital content and services. The platform fees for FY2015 are now expected to be £0.5 million, compared to £0.7 million in FY2014. For its long term strategy stated that a tightly controlled fixed cost base, together with a market-leading position, gives the company the confidence in its ability to deliver long-term value for shareholders. Moreover, the company looks forward to healthy number of activations scheduled for launch in 2016 and the pipeline of further activation opportunities is significantly larger than it was entering 2015 and will announce its Final Results for the twelve months to 31 December 2015 on Tuesday, 15 March 2016.
BH Macro Limited (BHMG.L) Announced that in accordance with the Listing Rule 15.5.1 R (Compliance with the Model Code), the close period of the company has commenced and it anticipates to end after the release of the annual results on or before 22 March 2016. It stated that as per the Listing Rule 15.5.1 (4), the weekly NAVs were been and will continue to be notified to the Exchange while the Directors and the company are not in possession of any additional price sensitive information that has not been notified to the Exchange.
Brown (N.) Group Plc (BWNG.L) Announced, in its trading update covering the 18 week period to 2 January 2016, that group revenue increased 4.1%, with LFL +4.1%. Product revenue increased 4.3%. Financial services revenue increased 3.7%. The company is on track to meet full year expectations. Online penetration increased 5ppts year-on-year to 66%, with online sales up 13%. 75% of new customer demand was generated online during the period, up 7ppts year-on-year. Power Brands active customer file growth of 12% and total file growth of 1%. The company will announce full year results on 20th April 2016.
Countrywide Plc (CWD.L) Announced, in its pre-close trading update for the year to 31 December 2015, that the Retail and London business units continued to be impacted by current housing market trends with the latest market data showing transaction volumes running 6% below the previous year. Also, Financial Services continues to outperform the market, with profits in 2015 ahead of 2014. The Group now expects that underlying EBITDA for 2015 will show a modest improvement than expected. The approved mortgage volumes including owner occupier in recent months have been ahead of the previous year, which is a positive indicator. Both, the Retail and London business units enter 2016 with transaction pipe-lines ahead of the previous year.
Diploma Plc (DPLM.L) Announced that Iain Henderson, the Chief Operating Officer of Diploma Plc, stepped down from the Board at the conclusion of the AGM yesterday and will retire from the Diploma Group on 31 March 2016.
easyHotel Plc (EZH.L) Announced, in its trading update, that the Group has continued to make good progress in building both its owned and franchise development pipeline. Planning permission was granted for a 77-room owned hotel at 47 Castle Street in Liverpool and for a 116-room hotel at Bradley House in Manchester. Both freehold properties are now owned and the hotels are expected to open in 2016/2017 financial year. The acquisition of land in L’Hospitalet de Llobregat, Barcelona has been agreed, subject to planning consent, for a new build 200-room easyHotel. The hotel is expected to open in 2018. A freehold building in Ipswich was conditionally acquired to convert into a 94-room easyHotel, which is expected to open in 2017. A Master Development Partnership has been signed with MAN Investments LLC for the development of easyHotels in the UAE and Oman, with an initial target of 600 rooms by 2017. Following these openings, MAN Investments is targeting at least 1,600 rooms by the end of 2020. easyHotel’s Benelux franchisee secured financing for the development of a 107-room easyHotel in Brussels, Belgium, which is expected to open by early 2017. It also announced that it conditionally acquired the 125 year leasehold of 81-91 John Bright Street in Birmingham, which it intends to convert into an easyHotel. The purchase of the property is subject to easyHotel obtaining planning consent for a hotel.
EMIS Group Plc (EMIS.L) Announced, in its trading update for the year ended 31 December 2015, that overall, trading for the year was in line with the Board’s expectations. There was further progress in the like-for-like operating margin although revenue growth of approximately 13% was held back by the timing of contracts within Secondary Care. The Group delivered growth both organically and through the recently acquired businesses. The Group also maintained its customarily strong revenue visibility, order book and pipeline. Further, the Group intends to announce its final results for the year ended 31 December 2015 on 16 March 2016.
Empresaria Group Plc (EMR.L) Announced, in its trading update for the financial year ended 31 December 2015, ahead of announcing its final results on Wednesday 2 March 2016, that full year profitability will be ahead of market expectations, despite the impact of adverse currency headwinds, primarily with the Euro. The Board expects adjusted profit before tax growth of approximately 23% year on year, with net fee income approximately 10% ahead of the prior year. Total net debt is expected to reduce by 26% from £9.8 million in 2014 to £7.3 million in 2015, which includes the term loan, as announced in October 2015, to help fund the acquisition of Pharmaceutical Strategies in the USA.
Escher Group Holdings Plc (ESCH.L) Announced, in its trading update for the year ended 31 December 2015, that group revenue is expected to be approximately $22.0 million (2014: $21.1 million), up 4%. Adjusted EBITDA is expected to nearly double to approximately $4.0 million (2014: $2.1 million). Net debt at 31 December 2015 has been reduced to $2.7 million (2014: 5.3 million). During 2015, the group continued to invest in its early stage businesses, Digital and Interactive Services. Successful implementations in the UK, Isle of Man and Ireland have created the foundation for an increasing subscription revenue stream during 2016 and beyond. As highlighted previously, the company continues to make good progress in developing its subscription and maintenance revenues, having implemented significant contracts in Germany and the US. Licensing revenues will continue to be uneven and difficult to forecast, as most new postal customers require one-off licensing agreements. Currently, the group’s visible and recurring revenues for 2016 are expected to amount to more than 50% of the total 2016 revenue target. Subscription and maintenance revenues are typically multi-year in nature, of a higher margin and are not dependent on new license sales. The company expects to publish its full year results in the week commencing 7 March 2016.
Fox Marble Holdings Plc (FOX.L) Announced, in its pre-close statement and operational update ahead of its results for the financial year ended 31 December 2015, that 2015 reported sales expected to be around €230,000 with the bulk of the existing 2015 order book pushed into H1 2016, confirmed orders to date for 2016 are currently €3.5 million, for which, as previously announced, an advance payment has been received from Banyan Stone Limited. This advance payment totals €210,000 in relation to the 2016 order book, new long-term distribution agreement entered into with Eboracum Limited, a company based in the north of England through which the above €2 million order has already been received, cash reserves as at 31 December 2015 were €2.8 million and convertible loan note held by Amati Global Investors Limited that was entered into at the company’s IPO in August 2012 at the initial annual interest rate of 8%, is incurring annual interest at a rate of 25% since 1 September 2015, and maturing in August 2017. The company is in negotiation to replace this loan note with a long-term loan with a significantly reduced interest rate.
Fusionex International Plc(FXI.L) Announced, in its preliminary results for the year ended 30 September 2015, that its reported revenue stood at MYR77.0 million, compared to MYR57.1 million in the preceding year. Profit after tax was MYR24.9 million compared to MYR19.5 million. The company’s diluted earnings per share was MYR0.58, compared to MYR0.45.
Halfords Group Plc (HFD.L) Announced, in its trading performance for the 15-week period to 15 January 2016, that in Cycling, growth in sales of bikes and cycle repair more than offset a small decline in parts, accessories and clothing. In Motoring, Car Maintenance sales were impacted by the warm weather, partially offset by a strong performance in sales of wiper blades and bulbs, and continued growth in fitting services. Autocentres increased service, maintenance and repair revenue, but was impacted by lower tyre prices. There is no change to its expectations of Group profit before tax for the full year, which should be in the range of £78-82million. The Q4 trading performance for the 11 weeks ending 1 April 2016 will be published on 13 April 2016 and its annual results for the 52 weeks ending 1 April 2016 will be published on 1 June 2016.
Kennedy Wilson Europe Real Estate Plc (KWE.L) Announced that the company has completed the disposal of the underlying collateral to the Avon loan portfolio to a UK infrastructure fund for a total consideration of £100.3 million, reflecting an exit yield of 6.5%. Net cash proceeds to the company amount to £99.1 million.
Laird Plc (LRD.L) Announced, in its trading update and notice of results for its financial year ended 31 December 2015, that overall, the company expects earnings for 2015 to be in line with expectations and consistent with the position noted in its Q3 trading update. Revenue for the year grew 12% to £630 million (2015: £565 million). On an organic1 basis in constant currency, US$ revenue grew 5%. Revenue in sterling for the fourth quarter grew by 1% to £164 million (Q4 2014: £163 million). In US$, fourth quarter revenue was down 4% at $249 million (Q4 2014: $260 million) and on an organic basis in constant currency, US$ revenue was down 2%. The company also announces today that it has completed the acquisition of German based Novero, for a consideration of €65 million (£50 million). Full year results for 2015 will be announced on Wednesday 2nd March 2016.
Land Securities Group Plc (LAND.L) Announced, in its third quarter interim management statement, that the group witnessed a good third quarter with robust operational performance, including record footfall in its shopping centres and continued letting momentum in its development programme. It reported disposals of £450.5 million during the quarter, bringing the total to £852.6 million for the nine months ended 31 December 2015. The company reported development and refurbishment expenditure of £67.9 million for the quarter and £292.2 million for the nine months ended 31 December 2015. The group completed £9.9 million of investment lettings in the quarter, with a further £11.9 million of lettings currently in solicitors’ hands. On a same centre basis, retailer sales were up 1.2% during the quarter. Adjusted net debt stood at £3,528.4 million (30 September 2015: £4,008.3 million). Cash and undrawn facilities stood at £1,625.5 million.
LPA Group Plc (LPA.L) Announced, in its preliminary results for the year ended 30 September 2015, that revenue stood at £16.27 million, compared to £16.84 million in the same period last year. Operating profit stood at £0.84 million, compared to £0.32 million. Profit after tax was £0.69 million, compared to £0.30 million. Diluted earnings per share stood at 5.48p, compared to 2.31p. Final dividend increased 17.6% to 1.00p (2014: 0.85p), total for the year 1.70p (2014: 1.55p).
Monitise Plc (MONI.L) Announced, in its unaudited trading update for the six months ended 31 December 2015, that H1 FY 2016 revenue is expected to be approximately £33.0 million, with revenue in the second half anticipated to be broadly similar, existing businesses generating positive EBITDA going forward, targeted investment in developing our new cloud-based offering, FINkit®, decisive action on costs has been taken and a further material reduction in total costs is expected in H2 FY 2016, total costs of £53.0 million in H1 FY 2016 projected to reduce by approximately £3.0 million per month in second half and the company is projecting H2 FY 2016 to be EBITDA positive following H1 FY 2016 EBITDA loss of approximately £20.0 million.
Mortgage Advice Bureau(Holdings) Plc (MAB1.L) Announced in its trading update for its financial year ended 31 December 2015, ahead of publishing its final results announcement on Tuesday, 22 March 2016, that activity levels have continued to be high, with Group revenue continuing its upward trend. In the year ended 31 December 2015, the company generated revenue of £75 million, representing a 33% increase over 2014. Further, it has continued its ongoing recruitment of Advisers and Appointed Representative firms. Moreover, the company announced that Zeus Capital Limited has been appointed as the company’s Nominated Adviser and joint broker with immediate effect.
NCC Group Plc (NCC.L) Announced, in its half year results for the six months to 30 November 2015, that revenue stood at £93.51 million, compared to £62.33 million in the same period last year. Operating profit stood at £8.59 million, compared to £11.06 million. Profit after tax was £6.01 million, compared to £8.37 million. Diluted earnings per share from continuing operations stood at 2.6p, compared to 4.0p. The board has continued its progressive dividend policy, increasing the interim dividend by 15% to 1.50p (1.30p in 2014).
Quixant Plc (QXT.L) Announced, in its trading update for the year ended 31 December 2015, that the profitability over the 12 months ended 31 December 2015 was comfortably in line with market expectations.
Royal Mail Plc (RMG.L) Announced, in its trading update for the nine months ended 27 December 2015, that overall, trading in the period fully met its expectations. Group revenue reflected a good performance over its peak period in UKPIL as well as a better than expected performance in GLS. UKPIL revenue was down 1%, with parcel revenue up 1% and letter revenue down 2%. Trends in parcels in the first nine months were the same as those seen in the first half. Total letter revenue was down 2% as the continuing change in mix partially offset the impact of letter price increases. It remains on track to deliver at least a 1% reduction in underlying operating costs before transformation costs in UKPIL for the full year. Outlook for letter and parcel trends and other guidance remain unchanged from that set out in its financial results for the half year ended 27 September 2015.
SABMiller Plc (SAB.L) Announced, in its trading statement, that group NPR for the third quarter grew by 7%, based on volume growth of 4% and price and mix realisation of 3%. On a reported basis, group NPR declined by 8%. Subsidiary total beverage and lager volumes grew by 8% and 6% respectively. Premium lager brand volumes grew by 4% and volumes of our global lager brands increased by 8%. Soft drinks volumes grew by 8%, with double digit growth in Africa and a subdued performance in Latin America.
SafeCharge International Group Ltd (SCH.L) Announced, in its trading update ahead of its 2015 full year results, which are expected to be announced on the 10th March 2016, that the trading in the fourth quarter of 2015 continued to be strong and the company expects that Adjusted EBITDA for the full year will be in line with market expectations of approximately $31.0 million. Moreover, it stated that it has a strong sales pipeline and has recently signed a number of significant agreements with new customers
Safestore Holdings Plc (SAFE.L) Announced, in its preliminary results for the year ended 31 October 2015, that its reported revenue stood at £104.8 million, compared to £97.9 million in the preceding year. Profit after tax was £108.7 million compared to £46.8 million. The company’s diluted earnings per share was 52.0p, compared to 23.0p.
Senior Plc (SNR.L) Announced that Andy Hamment, the Company’s Senior Independent Director, has decided to retire from the Board after the conclusion of the Company’s AGM on 22 April 2016. Upon his retirement, Mark Vernon will be appointed as Senior Independent Director.
St. James’s Place Plc (STJ.L) Announced, in its update on new business inflows and funds under management for the twelve months ended 31 December 2015, that gross inflow of funds at £2.52 billion was up 20% in the quarter (2014: £2.10 billion) taking the total for the year to £9.24 billion, up 17% (2014: £7.88 billion). Net inflow of funds of £1.63 billion (2014: £1.39 billion) was up 17% in the quarter and 14% for the year at £5.78 billion (2014: £5.09 billion). Funds under management of £58.6 billion (2014: £52.0 billion) were up 13% for the year. The group achieved strong growth across all of the key aspects of the business and are well placed for 2016 and beyond.
Surgical Innovations Group Plc (SUN.L) Announced, in its trading update for the year ended 31 December 2015, that trading was in line with board expectations, with an improved performance in the second half of the year. Revenues for the year were approximately £5.5 million, an increase of 36% compared with the prior year. Net bank borrowings at the end of the financial year were approximately £1.0 million (2014: £2.3 million). Audited results for the year ended 31 December 2015 will be released in mid-March 2016. Doug Liversidge CBE has served as a Non-Executive Director of the Company since 1998, and was Chairman until October 2015, has now decided to step down from the Board to focus on his other business activities. The Board has accepted his resignation as a director with immediate effect. Professor Mike McMahon will continue to lead the clinical activities of the Company as a Non-Executive Director. The Board is pleased to announce the immediate appointment of two independent Non-Executive Directors, Alistair Taylor and Paul Hardy.
Synectics Plc (SNX.L) Announced that its newly incorporated subsidiary company, Synectic Systems (Macau) Limited, has been awarded a multi-million pound contract to provide an integrated surveillance solution for a new casino resort in Macau, which is currently under construction by a major international gaming operator. Fulfilment of the contract is expected to begin in the next few months and will be substantially completed by the end of the financial year.
Toumaz Limited (TMZ.L) Announced, in its trading update for the year ended 31 December 2015, that the group revenues jumped by 22.3% to £32.1 million (2014: £26.2 million), which was driven by Digital Audio. Frontier Silicon, the Digital Audio business, saw revenues climb by 24.5% to £31.8 million (2014: £25.5 million). Group EBITDA losses reduced by 20% to £7.8 million from a loss £9.8 million in 2014. Healthcare revenues were seen at £300,000 compared to £750,000 in the previous year. The cash balance of the Group at the end of the year was £7.7 million against (2014: £12.5 million), in which it drew down its £5.0 million debt facility.
Tritax Big Box REIT Plc (BBOX.L) Announced an unaudited estimated EPRA Net Asset Value per ordinary share as at 31 December 2015 of approximately 124.5p (the Company’s unaudited basic Net Asset Value per ordinary share is estimated to be approximately 124.0p as at the same date). This represents an increase of approximately 15.7% as compared to the audited EPRA Net Asset Value as at 31 December 2014 of 107.6p and a total return of approximately 19.2% over the period, significantly in excess of the Company’s medium term target of 9% per annum. The total shareholder return2 over the period was 24.1%.The Board expects to declare a fully covered 3.0p per share dividend for the six months ended 31 December 2015, representing an aggregate dividend of 6.0p per share for the year ended 31 December 2015. The Board has adopted a progressive dividend policy and intends to target a dividend of 6.2p for the year ending 31 December 2016, representing a rise of 3.3% compared to the total dividend expected to be declared for 2015 and in excess of the rate of RPI inflation over the period from the Company’s IPO in December 2013 to 31 December 2015. Dividends are expected to be fully covered by adjusted earnings4 from the Company’s portfolio. The Company will publish its audited annual results for the year ended 31 December 2015 in March 2016.
UDG Healthcare Plc (UDG.L) Announced that it will issue a trading update for the first quarter to December 31 2015 at 7.00 a.m. (GMT) on Tuesday, 2 February 2016. The Company will also host a conference call for investors and analysts at 9.00am (GMT) on Tuesday, 2 February 2016 to discuss the statement. A playback facility will be available for seven days on +44 (0) 20 8196 1998. The access code for the replay will be 8829124.
Xtract Resources Plc (XTR.L) Announced, in its operations update, that the company expected approval by the Inspector of Mines to restart the processing plant by 20 January 2016. All work required by the Inspector of Mines and the Inspector of Works has been agreed and completed. The company was subsequently informed, however, that the Inspector of Mines will visit the mine to provide final sign off on the changes implemented later this week and as such, the company expects approval shortly and will provide an update once received. Underground mining and blasting continues without interruption, with the ore mined continuing to be stockpiled. Surface drilling at Chepica continues and the first set of samples have been submitted to the laboratory in Santiago. The company will report on the progress of the drilling as soon as assay results have been received.
Zoopla Property Group Plc (ZPLA.L) Announced that Stephen Morana will step down from his role as Chief Financial Officer from the Board. The company will announce his successor in due course while he will continue in his current role until his successor joins to ensure a smooth transition. The company also announced that its Annual General Meeting (AGM) will be held on Thursday 25 February 2016.