Market News - Page 807

Fulcrum Utility Services Limited (“Fulcrum” or the “Company”), the UK's market leading independent multi-utility infrastructure and services provider, today announces it has secured a significant new gas pipeline contract in partnership with British Gas….

Anpario plc, the international producer and distributor of natural feed additives for animal health, hygiene and nutrition, is holding its AGM later today, when Richard Rose, Chairman, will make the following comments:
“The Company remains on track to meet its profit expectations for the financial year to 31 December 2016. Revenues for the first half will be below the level of last year; this is due to a number of territories being affected by geopolitical events and distributor specific trading. Sales volumes in May and June have seen an improvement and overall margins remain strong mainly as a result of our continuing focus on improving the sales mix. The board believes the positive momentum will gather pace in the second half.
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Benchmark, the international biotechnology and food chain sustainability business announces its Interim Results for the six months ended 31 March 2016 (the “period”).
Financial Highlights:
— Revenue increased by 142% to GBP48.0m (H1 2015: GBP19.8m). Like for like sales, excluding businesses acquired in either 2016 or 2015, increased 42% to GBP13.3m (H1 2015: GBP9.4m). — EBITDA from Trading Activities(1) grew by GBP8.3m to GBP9.5m (H1 2015: GBP1.2m)
— Acquisition of INVE Aquaculture in December 2015 for $342m (c.GBP230m) created new Advanced Animal Nutrition division
o Funded via successful GBP219m (gross) equity raise
o $70 million revolving credit facility secured to support the equity raise and the enlarged group's working capital needs
— Temporary closure of Chilean border to Icelandic produced salmon eggs impacted Breeding and Genetics revenues
— Operating loss of GBP15.2m (H1 2015: GBP4.0m) after increase of investing activities to GBP18.8m (H1 2015: GBP3.6m), including GBP11.8m of expensed acquisition and integration costs…

Anpario plc, the international producer and distributor of natural feed additives for animal health, hygiene and nutrition, is holding its AGM later today, when Richard Rose, Chairman, will make the following comments:…

I am pleased to report very good trading results for the financial year to 31 March 2016.
Group revenue for the financial year to 31 March 2016 was GBP185.9m, 6.3% up on last year's GBP174.9m. The operating profit was GBP13.2m, up GBP2.6m from GBP10.6m.
Finance income was GBP56,000 against GBP46,000 last year. Finance costs, which are principally interest on the pension scheme deficit as calculated under IAS19 (revised), were GBP421,000 against GBP503,000 last year.
Pre-tax profit was GBP12.9m, up GBP2.8m from GBP10.1m last year. Post-tax profit for the year is GBP10.5m, up from last year's figure of GBP7.8m.
Earnings per share were 53.7p compared to last year's 40.3p.
Net assets (total equity) were GBP71.2m compared to GBP62.2m last year.
At the year end the Group's cash reserves stood at GBP16.8m compared to GBP12.5m last year.
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NewRiver Retail Limited
(“NewRiver” or “the Company”)
GBP20 million acquisition of Cuckoo Bridge Retail Park, Dumfries
NewRiver Retail Limited (AIM: NRR), the UK REIT specialising in value-creating retail property investment and active asset management, announces that it has completed the acquisition ('The Acquisition') of Cuckoo Bridge Retail Park, Dumfries off-market from a large listed property company for a total consideration of GBP20.2 million. The acquisition equates to a net initial yield of 7.05%, an equivalent yield of 7.87% and a reversionary yield of 7.93%, with net rental income at purchase of GBP1.5 million per annum.
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Whitbread Chief Executive, Alison Brittain said,
“Whitbread delivered total sales growth of 8.0% in the first quarter as we continue with a relentless focus on our customers, innovation and investing in our strong brands. Costa has started the year well and Premier Inn continues to win share, albeit in a weaker than expected hotel market.
Industry data has continued to show a soft hotel market in the UK, particularly in London. During the quarter Premier Inn grew total sales by 8.0% and like for like sales by 2.1%, which benefited from our substantial hotel extension programme. Against a strong comparator Premier Inn like for like revpar declined by 0.5% and total revpar declined by 1.2%. This reflects the market environment, the expected dilution of the impact of the extension programme and the c.3,600 new rooms added in the final quarter of last year, which will mature over the next few years. We are on plan to open 4,000-4,500 new hotel rooms in 2016/17.
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Pressure Technologies (AIM: PRES), the specialist engineering group, announces its interim results for the 26 weeks to 2 April 2016, which against the context of a low investment oil and gas market, are encouraging.
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