Telford Homes (TEF); exchanged contracts for the conditional purchase of a site in Stratford
The site covers 1.14 acres and is expected to deliver approximately 380 homes
Telford Homes announced that it has exchanged contracts for the conditional purchase of a site on International Way, Stratford, E20, for a total cash consideration of £20.0m, subject to achieving a satisfactory planning consent.
Read more...Visas (V); sweetens its takeover offer for Earthport
Bidco, a unit of Visa, originally offered 30p in December, before Mastercard swooped in with a higher offer of 33p in January
Visa has sweetened its offer for takeover target Earthport to 37p a share, trumping Mastercard’s offer by 12%. The new offer follows extended discussions with Earthport and values the payment company at about £247m.
Read more...Scottish Power Energy; finished the week with a profit warning
SSE said income recognition was a timing issue only because the UK government still backs the Capacity Market
SSE has finished off the week with a profit warning after a European court suspended state aid for the energy capacity market. The Scottish power company cut its full year earnings per share forecast by around 6p, to a range of 64-69p. That compares to its November EPS guidance of 70-75p.
Read more...7digital Group (7DIG); secures conversion rights and an issue of equity
Application will be made for the admission to AIM of 19,385,843 new ordinary shares
7digital Group declared that it has received notice of conversion from one holder in respect of c. £194k (including interest) of the £1.5m facility announced on 26 October 2018. Conversion price is 1p/ordinary share.
Read more...Diverse Inc Trust (DIVI); NAV falls 9.9% to 94.64p from 105.09p
Second interim dividend of 0.85p per share declared.
Revenue return per ordinary share for the half year ended 30 November 2018 stands at 1.89p against 3.84p for the full year ended 31 May 2018. The board has also indicated that there may be less scope for any special dividend in the current year.
Read more...Superdry (SDRY); report subdued quarter
The company plans deliver £50m+ of gross cost savings by FY22
Life still looks far from rosy for Superdry, as it reports results for a ‘subdued’ third quarter. Global brand revenue growth slowed to 5.4% (H1 2019: 6.4%), whilst group revenue growth swung into negative territory at -1.5% (H119: +3.1%), due to subdued store and e-commerce sales relating to ongoing product legacy issues and unseasonable weather.
Read more...Smith & Nephew (SN); underlying revenue up 2%
Reported revenue grew 3% to $4,904m from $4,765m
For the year ended 31 December 2018, reported profits declined to $863m from $934m in 2017. Underlying revenue is expected to increase 2.5–3.5% in 2019, with a 40–80bps improvement in profit margin after excluding 2018 one-off gains.
Read more...Supermarket Income (SUPR); H1 results reveal NAV per share of 96p
The portfolio value increased to £320.6m, reflecting a like-for-like increase of 1.3%
In its results for the six months ended December 2018, Supermarket Income reported an EPRA earnings per share of 2.5p vs. 1.2p in 2017. Quarterly dividend per share increased to 1.419p from 1.375p, in line with RPI inflation.
Read more...Allied Minds (ALM); posts year-end trading update
Net cash of $50m at 31 December 2018 (excluding cash held at subsidiaries).
Allied Minds and Woodford Investment Management have agreed to jointly contribute an aggregate $9m of convertible bridge financing to SciFluor and Precision Biopsy. The group’s target annualised HQ cash operating expenses will be reduced by $5.6m or more than 40%.
Read more...Palace Capital (PCA); signs a new £26.5m loan facility with Barclays Bank
In 2013, the company acquired the two-acre site as part of the corporate acquisition of the Sequel Portfolio from Quintain
Palace Capital has signed a new £26.5m loan facility with Barclays Bank. The facility, along with the company’s existing cash resources, will partly finance the mixed-use development of Hudson Quarter, York. The new facility will be drawn down during the project’s construction phase and repaid with the proceeds of residential sales.
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