Broker tips: Trinity Mirror, Rank, Morgan Crucible
29th Jul 2010 13:04
Interim results from Daily Mirror owner Trinity Mirror were ahead of expectations but the publisher faces 'aggressive competitor activity' in the second half of the year, Singer Capital Markets warns. Nevertheless, the broker predicts that the first half performance should see market consensus fore
Read moreBroker snap: Customers return to Mecca at Rank
29th Jul 2010 12:54
KBC Peel Hunt saluted Rank Group's solid interims and expects the stock to continue to outperform. "Grosvenor continues to be the star of the show, but Mecca has also shown its first growth in customer visits for a decade. With debt down to £133m, the group also has the balance sheet to increase in
Read moreUK SMALLCAP ROUNDUP: Antisoma To Return Cash If Programs Fail
29th Jul 2010 12:30
Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps ANTISOMA PLC (ASM.LN), a biotechnology company, said it will return any cash it has left to shareholders if its two lead drug programs fail clinical tria
Read moreLondon midday: PartyGaming jumps on bwin merger
29th Jul 2010 11:57
Company results have given traders plenty to ponder and shares are broadly higher, but online betting group PartyGaming is the star performer after announcing a merger with Austrian rival bwin. PartyGaming said the merger would create the world's largest listed online gaming business. Elsewhere i
Read moreUPDATE: Rank Upbeat About 2H After 1H Profit Soars
29th Jul 2010 10:30
(Adds detail, CEO comment, analyst comment, share price.) By Hannah Benjamin Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Rank Group PLC (RNK.LN) Thursday said it is optimistic about its second half despite lingering consumer spending pressures, after it posted a surge in first-half pretax
Read moreUK SMALLCAP ROUNDUP: Connaught Secures GBP15M Overdraft
29th Jul 2010 09:30
Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps CONNAUGHT PLC (CNT.LN) Thursday said it has agreed terms on a GBP15 million short-term overdraft with its lenders, as well as the deferral of interest an
Read moreMARKET TALK: KBC Peel Hunt Upgrades Rank Group To Buy
29th Jul 2010 08:46
0746 GMT [Dow Jones] KBC Peel Hunt upgrades Rank Group (RNK.LN) to buy from hold, saying against a tough backdrop Rank has delivered a solid 1H. Says Grosvenor continues to be the star of the show, but Mecca has also shown its first growth in customer visits for a decade. Adds with debt down to GBP1
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
29th Jul 2010 08:46
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0746 GMT [Dow Jones] KBC Peel Hunt upgrades Rank Group (RNK.LN) to buy from hold, saying against a tough backdrop Rank has
Read moreUK MARKET TALK ROUNDUP: BROKERS COMMENTS
29th Jul 2010 08:17
Broker comments in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0717 GMT [Dow Jones] Rank Group's (RNK.LN) 1H results are in line with previous expectations on an operating basis and slight
Read moreMARKET TALK: Investec Lifts Rank Group 2010 EPS Estimate
29th Jul 2010 08:17
0717 GMT [Dow Jones] Rank Group's (RNK.LN) 1H results are in line with previous expectations on an operating basis and slightly ahead on interest and tax, says Investec. It lifts '10 EPS forecast by 2.2% to 9.2p, its fifth EPS upgrade in just over a year. In the medium-term, Investec sees continued
Read moreRank 1H Profit Surges As Customers Return; Strong Start To FY11
29th Jul 2010 07:33
LONDON (Dow Jones)--Rank Group PLC (RNK.LN) Thursday posted a surge in first-half pretax profit as it attracted more customers to its bingo and casino halls and said it has continued to grow comparable sales in each of its businesses so far in the new fiscal year. The Mecca Bingo and Grosvenor C
Read moreRank Group Sees GBP2.5M Cost Rise From UK VAT, NI Changes
23rd Jun 2010 08:00
LONDON (Dow Jones)--Rank Group PLC (RNK.LN), which operates bingo clubs and casinos in the U.K. with complementary on-line gaming and bookmaking services, said Wednesday that the increase in the standard rate of VAT and changes to the National Insurance regime announced in Tuesday's budget will resu
Read moreChancellor's Budget costs Rank £2.5m
23rd Jun 2010 07:58
Rank has calculated yesterday's Budget will result in a net cost to the Mecca bingo clubs and casinos firm of about £2.5m from 2011. The increase in the standard rate of VAT from 17.5% to 20% and changes to the National Insurance regime will force the group to "seek ways to minimise the impact on e
Read moreRank gets £42.5m back from HMRC
21st May 2010 16:30
Casino and bingo hall operator Rank Group has received £42.5m in overpaid VAT from Her Majesty's Revenue and Customs but HMRC is still appealing the case. The repayment relates to £16.1m overpaid on games of bingo between 2004 and 2009 and £26.4m relating to amusement machine revenues between 2002
Read moreBroker tips: Ladbrokes, William HIll, UBM, Intertek
14th May 2010 13:23
Today's earnings from bookmaker Ladbrokes were broadly in line with expectations, but analysts worry about the risk of increased gaming duty in the new government's emergency budget. Group net revenue fell 6% over the four months to April, with betting shop net revenue down 11%. Operating profit ro
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