Investors Chronicle - magazine and web content back issues from December 2007:
Scapa is far from scuppered.
Dec 03, 2007 ... Scapa is a classic turnaround story as illustrated by its last result. Richard Hemming Scapa's turnaround story has continued, with its interim results showing a net cash position of almost GBP13m, compared with net debt 12 months earlier of GBP12.6m. The turnaround ...
Compass does not let food prices take a bite out of profits.
Dec 03, 2007 ... Compass served investors with a set of results that were certainly more appetising than a canteen tray. Although the top-line was flat on adverse currencies translation, underlying revenues grew by 5 per cent, reflecting the group's efforts to re-focus on more profitable contracts ... ...
Optos investors looking for profits.(Financial report)
Dec 03, 2007 ... Optos is a high revenue growth company but investors are not impressed Richard Hemming Optos 's impressive full year profit growth left investors cold with its shares falling almost 5 per cent on results day, taking the overall decline to 34 per cent in the past six months. ...
Calmer waters for Sutton Harbour.
Dec 03, 2007 ... Transport and infrastructure group Sutton Harbour has reported improved profits from its airline and marine activities. Stephen Gunnion Sutton Harbour's airline, Air Southwest, has gained altitude and its marine activities are also buoyant. So, despite a drop in income from the ...
Finance costs hits Marston's.
Dec 03, 2007 ... Marston's figures were hit by increased finance costs, but the pub chain still managed to increase sales Jonas Crosland Marston's pre-tax profits were knocked by a sharp increase in finance costs as net debt rose to GBP1.19bn. This pushed interest payments up from GBP52.1m to ...
Brighter outlook for Accident Exchange.
Dec 03, 2007 ... Winning a legal battle improves prospects for Accident Exchange Jonas Crosland Accident Exchange reported a strong rise in turnover in the six months to October, but pre-tax profits were hit by higher finance costs as the group was forced to raise funds pending the outcome of a ...
Has Burren blown it?
Dec 03, 2007 ... Oil explorer Burren has agreed a bid only marginally above a price it had previously dismissed Jonathan Eley Burren Energy on Friday revealed that it had agreed the terms of a takeover by Eni at 1,230p a share in cash - just weeks after rejecting a bid at 1,200p. The ...
Clapham House subsides on growth warning.
Dec 03, 2007 ... Investors in Clapham House are left with indigestion after roll-out plan curtailed Nathalie Olof-Ors Clapham House's strategy is based around rapid growth - so it's no surprise that its shares fell 46 after it warned that its growth profile will be significantly below its ...
Weatherly ramps-up copper production.
Dec 03, 2007 ... There's big potential at Weatherly's Namibian project Nigel Bolitho Weatherly estimates it has spent around $50m (GBP24.3m) in acquiring and re-developing previously defunct mines, concentrators and smelters in Namibia. Weatherly is producing copper ore from three mines, and is ...
Caledonia bides its time.
Dec 03, 2007 ... Management at Caledonia Investments anticipate buying opportunities next year John McLeod After a strong run over the past few years, and against the background of credit crunch-induced uncertainties, times have become somewhat tougher for Caledonia - in the short-term, at ...
Findel builds its online business.
Dec 03, 2007 ... Findel's home shopping unit is doing well, helped by an increasingly significant online operation Anthony Lugg Findel has made good progress bedding-down recent acquisitions, although the latest results are clouded by exceptionals, restructuring costs and losses on disposals ....
IC Trades: SABMiller (SAB).
Dec 03, 2007 ... Nothing flat about SABMiller's heady performance Dominic Picarda Having found support at its 200-day moving average, the multinational brewer is frothing upwards again. As well as remaining above its shorter-term moving averages, SABMiller needs to break through a ...
Mitchells & Butlers considers REIT conversion.
Dec 03, 2007 ... After Mitchells & Butlers' plan to establish a property joint venture was hit by the credit crunch, the group is now considering bundling its properties into a Reit Nathalie Olof-Ors Mitchells & Butlers had already been hit by the credit crunch, which derailed its planned ...
Johnson Matthey's platinum performance.
Dec 03, 2007 ... Johnson Matthey's figures were buoyed by solid demand for catalysts and a robust platinum price Richard Hemming Diversified chemicals group Johnson Matthey has experienced high demand for its autocatalysts - which cut motor vehicle pollution. Sales of its heavy duty diesel ...
Helical Bar welcomes property correction.
Dec 03, 2007 ... Helical Bar sees opportunities from a property market correction Anthony Lugg Helical Bardoesn't undertake interim revaluations so it's not easy to assess the impact of the downturn in the commercial property market on the group. And profits are down after a sharp fall in ...
Funds roll in at Aberdeen.
Dec 03, 2007 ... Acquisitions and organic growth have boosted assets under management for Aberdeen Asset Management Jonas Crosland Aberdeen Asset Management 's profits may have come in just below analysts' expectations, but profits before exceptional items rose from GBP79.9m to GBP94.3m in the ...
Quintain still bullish.
Dec 03, 2007 ... Quintain Estates believes that it is above falling property values. Algy Hall Quintain believes that it can buck the current trend in the property market and continue to produce positive returns for share holders - barring property "armageddon", that is. Indeed, net asset ...
Fast expansion for Coffeeheaven.
Dec 03, 2007 ... Cappucinos are cool in Krakow, and the shares are hot here Stephen Gunnion A big expansion has pushed Coffeeheaven into the red. But executive chairman Richard Worthington says the coffee shop chain continues to experience high like-for-like sales growth due to strong consumer ...
Brewin Dolphin forges ahead.
Dec 03, 2007 ... Stockbroker and private client fund manager Brewin Dolphin continues to attract investors Jonas Crosland Brewin Dolphin once again brushed aside the difficult trading conditions in financial markets to record a sharp rise in profits and a 14 per cent rise in private client ...
Biffa benefits from more landfill.
Dec 03, 2007 ... Biffa is parting company with its chief executive Algy Hall Martin Bettington, chief executive of waste management group Biffa, took the market by surprise by announcing that he was stepping down following 17 years at the helm. The news came as Mr Bettington unveiled a robust ...
Final flourish?
Dec 03, 2007 ... The Trader expects a year-end rally, but thinks some customary December wobbles could be in store first. He also reviews some of the options that he has granted. Marc Rivalland Although the rally in the US and European markets has been impressive, it is worth remembering that ...
Avon Rubber wins major US contract.
Dec 03, 2007 ... Avon Rubber's prospects are much improved Nigel Bolitho For four long years, Avon Rubber's share price has been trending downwards, with each peak and trough getting progressively lower. But it's time investors got a reality check because Avon is a bombed-out business no more ....
IC Trades: Enterprise Inns (ETI).
Dec 03, 2007 ... Pub group suffering from brewer's droop Dominic Picarda The latest rally in Enterprise Inns' shares petered out meekly at the 21-day moving average, maintaining the pattern of falling highs and lows. Another leg of downside towards 486p now seems likely. The 200-week ...
IC Trades: Vodafone (VOD).
Dec 03, 2007 ... The mobile operator is set to ring up long-distance gains Dominic Picarda While Vodafone has twice failed to overcome resistance in the 196-202p zone, another attempt is likely before long. Its retreat to the 55-day moving average has allowed momentum to unwind to ...
MS International expecting strong second half.
Dec 03, 2007 ... Premium castings keep MS International moving ahead Nigel Bolitho MS International is best known for its defence equipment, which includes gun mountings for fast patrol craft, plotting tables and tactical shelters for command and control missions. But over the six ...
Opsec is better than its rating suggests.
Dec 03, 2007 ... Defeating fraud is Opsec's forte and it could make a lot of money as a result. Nigel Bolitho US-based Opsec was taken over by Applied Holographics in 2000. Following the merger the American management team quickly took control. Some two-thirds of its sales relate to the ...
GB Group on the mend.
Dec 03, 2007 ... GB Group has moved its identity verification technology into an online service, a move which should produce profits Nigel Bolitho Over the past year or so, GB Group has switched its identity verification technology to an online service. The switch has cost around GBP500,000 and ...
Solid growth at Creston.
Dec 03, 2007 ... Creston has performed well despite market uncertainty Jonas Crosland Creston has changed its operational framework with the establishment of two divisions - Insight and Communications. Insight will concentrate on market research, while the Communications division will include ...
Morgan Crucible hit by weak dollar.
Dec 03, 2007 ... The engineering group says dollar weakness, as well as one-off factors, will leave full-year revenue flat. Stephen Gunnion Shares in Morgan Crucible have taken a drubbing on news - if you could call it such - that dollar weakness will eat away most of this year's revenue growth ....
FTSE still weaker.
Dec 03, 2007 ... Profit warnings undermine sentiment Jonas Crosland Leading shares remained in negative territory this morning as investors found very little to cheer about, so by lunchtime the FTSE100 index was sporting a 23.6 point loss at 6,408.9. Mid-cap stocks were equally lacklustre, and ...
CareTech's expansion continues.
Dec 04, 2007 ... Disability services provider CareTech continues to record impressive growth, and value for investors is appearing. Richard Hemming Homecare provider CareTech is continuing its run of acquisition-led profit growth. The company made two more acquisitions in the past 12 months, ...
Cash-flush ITE may seek deals.
Dec 04, 2007 ... Having returned GBP27m to shareholders over the past year, the events organiser is looking for new opportunities Stephen Gunnion There's growing demand for conferences and events in Russia and the Commonwealth of Independent States, including countries such as Belarus, ...
Warner hit by chill winds.
Dec 04, 2007 ... Warner Estate's figures have been hit by the chill winds blowing through the UK commercial property market. Anthony Lugg Warner Estate's results reflect the chill winds blowing through the UK commercial property market. Indeed, Warner has suffered a sharp reversal - from gains ...
ReNeuron's battle.
Dec 04, 2007 ... Early-stage biotech company ReNeuron is on the cusp of becoming the first to do clinical-level stem-cell research for neurological conditions Richard Hemming ReNeuron is edging closer to its near-term goal of being the first company to be involved in clinical-stage research for ...
Medical Marketing's early-stage pipeline.
Dec 04, 2007 ... Medical Marketing has a strong research pipeline and says it is close to striking a deal with big pharma Richard Hemming Shareholders in Medical Marketing will be watching closely for an announcement in the next few months relating to the data from the study of its vaccine ...
Restaurant investors lose appetite.
Dec 04, 2007 ... Fast-expanding restaurant chains have developed a serious case of indigestion as consumer spending slows and cost pressure grows Nathalie Olof-Ors Concern about the listed restaurants sector has been cooking up since the summer. After two years of strong performance, the sector ...
Busy times at Telford Homes.
Dec 04, 2007 ... Never mind the national malaise, housebuilding in East London is proving to be good business for Telford Homes Jonas Crosland Telford Homes is insulated to some extent from the downward pressure on housebuilders because nearly all its construction is based in the East End of ...
Civica on acquisition trail.
Dec 04, 2007 ... Civica is looking to boost growth by making more acquisitions Jonas Crosland Software and services group Civica reported full-year profits broadly in line with expectations, with a steady rise in organic growth supplemented by the acquisition of VT Software Solutions. And more ...
Ashley House in good health.
Dec 04, 2007 ... Ashley House is benefiting from the government's drive to shift the primary care focus away from hospitals Anthony Lugg Ashley House is benefiting from the drive by the government to encourage people to use doctors' surgeries rather than hospitals, wherever possible. In line ...
City Trades: FTSE 250 (MCX).
Dec 04, 2007 ... Charting boss weighs up the beauties of mid-caps versus large-caps David Linton Is the run in the UK mid-caps over? asks David Linton at Updata. The FTSE 250 is testing support on the line chart. Its relative strength chart versus the FTSE 100 shows that since the ...
City Trades: Michael Page International (MPI).
Dec 04, 2007 ... CFD boss sees a nice vacancy at recruitment company Richard Cunningham Having peaked at 606p in July 2006, Michael Page shares suffered a steep decline, breaking its primary uptrend with a breach of 400p, says Richard Cunningham at City Index Advisory. On a ...
Outsourcing buoys May Gurney.
Dec 04, 2007 ... Helped by deals and strong markets, outsourcing specialist May Gurney continues to thrive Graeme Davies May Gurney's solid progress continues, bolstered by growth through acquisition in new markets and continued buoyancy of the outsourcing markets themselves. A focus ...
Alternative Networks rides mobile growth.
Dec 04, 2007 ... Telecoms reseller Alternative Networks is still seeing huge demand for mobile data from businesses Tim Bradshaw These results lifted Alternative Networks' shares 4 per cent, as the market was reassured by another solid performance by the telecoms reseller. September's ...
Augean chief departs.
Dec 04, 2007 ... Augean's chief executive has unexpectedly left the business Graeme Davies The chief executive of hazardous waste business Augean has abruptly left the company after less than a year in the hot seat, to be replaced by the commercial director. Peter Worlledge, who only ...
Accident Exchange makes progress.
Dec 04, 2007 ... Accident Exchange looks to be winning the legal battle Jonas Crosland Accident Exchange reported a strong rise in turnover in the six months to October, but pre-tax profits were hit by higher finance costs as the group was forced to raise funds pending the outcome of a ...
'Tis the season to be anxious.
Dec 04, 2007 ... Trading news from several retailers suggests the traditional bout of festive nerves could actually be borne out this time. Algy Hall It's a Yuletide tradition for the nerves of investors in the retail sector to be jingle-jangling at this time of the year, but recent trading ...
High street cheer.
Dec 04, 2007 ... A big slowdown in spending is unlikely Chris Dillow It's that time of year again - when retailers worry about a big slowdown in spending. With Signet and Pendragon recently issuing profit warnings, and the CBI reporting that sales are below average for the time of ...
Shed Media bolsters itself with deals.
Dec 04, 2007 ... Shed announced improving margins and the acquisition of a competitor with its figures Richard Hemming Shed Media has been busy doing deals. It bought TV production company Twenty Twenty in September and, with these figures, also announced that it was buying TV producer, Wall to ...
IC Trades: FTSE 100 (UKX).
Dec 04, 2007 ... A look at the FTSE's seasonal rally prospects Dominic Picarda The FTSE100 has risen in December in 19 of the last 23 years, with the bear market years of 1990, 1994, and 2002 being three notable exceptions. The top of the daily cloud poses resistance around 6560 or ...
City Trades: Cable and Wireless (CW.).
Dec 04, 2007 ... CFD boss hopes for festive cheer from C&W Steven Mayne Cable and Wireless is firmly in traders' focus after recent takeover speculation, says Steven Mayne at Montague Pitman. It has moved back above both of its short-term moving averages, with momentum indicators ...
"Minsky moment" or mini-panic?
Dec 04, 2007 ... Will tighter credit conditions cause a recession? Chris Dillow Have we had a "Minsky moment"? Since the summer, economists have been asking this apparently obscure but important question. It refers to the late Hyman Minsky's financial instability hypothesis. This ...
Nothing's happened.
Dec 04, 2007 ... There's been no reason to change our attitudes to the stock market recently Chris Dillow In one important sense, nothing has happened to the stock market in the past two years. The sense being that there's been no reason to reassess the merits of equity investment. ...
City Trades: Barratt Developments (BDEV).
Dec 04, 2007 ... CFD boss thinks housebuilder has possibilities Richard Cunningham Barratt has fallen heavily this year, but has posted a series of lows in recent weeks around 450p, says Richard Cunningham at City Index Advisory. As always, calling the bottom is a very challenging ...
FTSE down further.
Dec 04, 2007 ... Shares retreat on gloomy outlook Jonas Crosland Any hint of Christmas cheer was conspicuous by its absence this morning, as leading shares reacted to fresh predictions of difficult times ahead. By lunchtime, the FTSE100 index was down 78.4 points at 6,308.2, while the FTSE250 ...
City Trades: Dow Jones Industrials.
Dec 04, 2007 ... Fibonacci-trading guru prognosticates on the Dow Sandy Jadeja Since 1950, a weak November for the Dow has increased the probability of a subsequent rally. The index clearly found support at the key 12830 Fibonacci level, which led to a rally up to a minor Fibonacci 50 ...
History men.
Dec 04, 2007 ... History will cling to Northern Rock like a curse, says Mr Bearbull, who remains puzzled as to why leading business figures are fighting over it Mr Bearbull On the face of it, it's hard to credit that so many intelligent business people are fighting over the corpse of Northern ...
Camper profits from marina pitch.
Dec 05, 2007 ... The world super-rich are paying top dollar for top berths Algy Hall It seems the world's yacht-owning super-rich are yet to feel the pinch from the credit crunch. Grand Harbour Marina in Malta, in which Camper & Nicholsons Marina Investments bought a 79 per cent stake ...
Revenues slide at Moss Bros.(Financial report)
Dec 05, 2007 ... Moss Bros profits for the full-year are "unlikely to reach the current consensus" after a slide in revenues Nathalie Olof-Ors Profits at menswear retailer Moss Bros are "unlikely to reach the current consensus" after a slide in revenues. During the last 18 weeks, like-for-like ...
Hydrogen helps Imprint rise.
Dec 05, 2007 ... Hydrogen urges Imprint shareholders to wait for its higher offer. Algy Hall Recruitment firm Hydrogen has strongly urged shareholders of Imprint not to accept an offer from OPD. While Hydrogen is yet to table a firm offer for financial-services-focused recruiter ...
Buses boost Stagecoach.
Dec 05, 2007 ... More commuters are catching buses and trains due to road congestion - and Stagecoach is benefiting. Stephen Gunnion A racy performance from Stagecoach's UK bus division led to better-than-expected first-half results from the rail and bus operator. And chief executive Brian ...
Axon chairman leaves on a low.
Dec 05, 2007 ... Mark Hunter leaves Axon on an upbeat trading statement but a downbeat share price Tim Bradshaw Axon's chairman and former chief executive, Mark Hunter, is to step down at the end of the year. He still holds around 12 per cent of the IT services company's shares, but ...
Plastics Capital debuts on Aim.
Dec 05, 2007 ... Aim welcomes an old-fashioned widget-maker in the form of Plastics Capital Andrew Hore Plastics Capital plans to use its new Aim quotation as a springboard to acquire niche plastics manufacturers. It manufactures products such as plastic bearings, creasing matrices ...
Portrait in the picture.
Dec 05, 2007 ... Portrait still looks like a bid target - but demand from financial services customers is looking shaky. Tim Bradshaw Analysts at Gartner have christened Portrait Software's market "intelligent dialogue", and believe that it could grow at 20 per cent per annum. That's typically ...
Redstone goes for growth.
Dec 05, 2007 ... Acquisitions are turning into contract wins for Redstone Anthony Lugg Redstone has been on an acquisition spree of late and did two significant deals - the purchases of Comunica and IDN - shortly before the start of the first half. The businesses have bedded down well and are ...
Themes 2008: Will it get worse for Reits?
Dec 05, 2007 ... The year 2007 was horrible, will it get worse in 2008? Algy Hall The real-estate investment trust (Reit) sector may not be in much of a mood to celebrate its first birthday as the new year dawns. When the sector was born at the start of 2007, few predicted how quickly or how far ...