STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News
12:14GMT 27Nov2008-i-design up after results; Arbuthnot "buy"
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Shares in i-design Group gain 11.6 percent as the company, which
provides an advertising solution (called atmAd) for ATM network owners, unveils
full-year results, with revenue more than doubling to 2.07 million pounds in the
year to Sept 30, 2008.
Arbuthnot Securities, which rates the stock as "buy", notes that i-design's
results show a smaller-than-forecast loss before tax - with the company saying
this loss is 536,000 pounds compared with 622,000 pounds in the previous year -
on sales in line with expectations.
"With the likelihood of more banks wishing to implement atmAd to bolster
revenues and with advertisers more likely to want the demonstrable returns on
investment provided by atmAd, we are still hopeful that i-design will be moving
towards breakeven/profitability during full-year 2009," says the broker.
However, Arbuthnot cuts its target price to 32 pence from 52 pence.
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12:06GMT 27Nov2008-FTSE Small Cap Index up 0.4 pct midday
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The FTSE Small Cap Index advances 0.4 percent by midday,
underperforming the wider UK market, which sees the FTSE 100 Index up
1.6 percent and the FTSE 250 Index up 2.7 percent.
Low & Bonar keeps the top spot in the small cap risers, up 19.4
percent, as it confirms full year trading is in line with expectations and it is
comfortable with its banking covenants.
Findel dips 6.6 percent on news that sales are slowing for the
shopping catalogue and educational supplier, and that its debts rose by 40
million pounds in the first half.
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11:59GMT 27Nov2008-Brewin Dolphin up on solid results
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Shares in Brewin Dolphin rise 5 percent to 102.5 pence after the
investment manager and stockbroker reports better than expected preliminary
full-year results with operating profit in its core stock-broking business up 7
percent and says it will look to add to its investment management teams.
"Despite the difficult market conditions the investment management division
increased operating profit with finance income an important income stream for
the group," says FinnCap analyst Duncan Hall.
"Any stabilisation of equity markets after a programme of interest rate
reductions and a commitment from the UK government to stimulate bank lending
should benefit traditional stock-brokers and wealth managers."
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