Edison Investment Research

John Laing Group (JLG); HY pre-close update: FY guidance for investments remains at £250m

Stock down 0.38% to 263.20p at 8:00

JLG issued a pre-close update for the six months ending 30 June 2018. The company has maintained FY guidance for investment commitments at £250m, albeit weighted towards second half, as it sees a strong pipeline of future opportunities.

INVESCO Asia Trust (IAT); annual results: NAV total return of 14.5% misses benchmark

Stock flat at 279.0p at 8:05

For the financial year ended 30 April 2018, IAT posted NAV total return of 14.5%, which missed the benchmark index total return of 16.8%.

StatPro Group (SOG); appoints Gordon Bloor as the divisional CEO of Source: StatPro

Stock flat at 172.5p at 8:07

Gordon joins StatPro with a wealth of expertise and extensive background in market data business development.

SCISYS (SSY); trading update: strong start to 2018; confident on outlook

Stock up 7.02% to 152.5p at 8:07

SSY has made a strong start to 2018 by delivering on contracts, winning significant new contracts and generating strong cash flow. Group order book is currently more than £100m (2017: £91.3m). Group net debt fell to £1.9m by the end of May (2017: £5.9m).

PPHE Hotel Group (PPH); enters £45m facility agreement for refinancing four UK hotels

Stock up 0.63% to 1,429p at 8:07

PPH (the group) entered into an agreement with Banque Hapoalim (Luxemberg) S.A (BHI) to refinance its interests in four UK-based hotels (Park Plaza London Park Royal, Park Plaza County Hall London, Park Plaza Leeds and Park Plaza Nottingham; together ‘the hotels’). BHI will provide with a £45m facility for a term of seven years and at a fixed interest rate of 4.367% per annum (the facility).

Circle Property (CRC); FY results: significant growth in income and valuation

CRC announced its FY18 (March) results. Its asset management initiatives have helped its portfolio value increase 22.63% (17 UK investment properties at £114.075m). NAV/share grew 25% to £2.30, while its annual contracted rental income rose 21.49% to £6.829m. The board proposed a final dividend per share of 3p (FY total: 5.6p, +12% YoY).

Amur Minerals (AMC); mining potential update

Stock up 12.82% to 4.40p at 8:05

The total mineable potential at Kun-Manie now totals 109.4 million ore tonnes containing 721,300 tonnes of nickel and 197,400 tonnes of copper, using Measured and Indicated resources (MI Option).

UK Commercial Property Trust (UKCM); signs 159,000 sq ft long lease

Stock flat at 88.0p at 8:04

UKCM has signed a new 15-year lease with no breaks with a global business on a 159,000 sq ft unit at the Ventura Park industrial estate.

Ultra Electronics (ULE); pre-close trading statement: better-than-anticipated order intake

Stock down 7.53% to 1,499p at 8:07

ULE issued a pre-close trading statement (ahead of its Interim 2018 results expected on 6 August 2018). It anticipates delivering half-year revenue and operating performance that are broadly in line with management expectations. This is attributed to its better-than-anticipated order intake during the period (May-end order book was £972m).

Picton Prop (PCTN); announces early repayment of £33.7m debt

Stock down 0.86% to 92.40p at 8:05

PCTN entered into an agreement with one of its principal lenders to reduce the amount of outstanding debt by £33.7m, effective 20 July 2018. The current interest rate on the debt being repaid is 4.08% with a maturity in July 2022.