FTSE 350 News Wrap featuring Investec, Marston's, Mothercare, Shanks Group, National Grid, Great Portland Estates and SABMiller
Investec (plc) (LON:INVP) reported good operating performance for the year ended 31st March 2010, with all divisions and geographies profitable. The Company reported an increase in operating profit before tax of 8.9% to £423.3m. Third party assets under management increased by 50.7% to £73.6b and Investec recorded significant inflows of £4.7b. The total dividend for the year has been increased by 23.1% to 16.0p.
Mothercare (LON:MTC) saw sales increase 5.9% to £766.4m in the year ended 27th March 2010. The total dividend for the year has been increased by 15.9% to 16.8p.
Marston's Plc (LON:MARS) released results for the 26 weeks ended 3rd April 2010 in which it reported a slight increase in Group revenue of 0.6% to £309.2m. Profit before tax was also up slightly by 0.4% to £27.8m. An interim dividend of 2.1p has been declared in line with expectations.
Shanks Group (LON:SKS) reported robust performance in a challenging environment in the year ended 31st March 2010. Revenue was maintained at £684m while EBITDA was down slightly to £102.1m. The total dividend for the year is 3.0p which, allowing for the effects of the rights issue, is an increase of 76% over the previous year.
Sabmiller (LON:SAB) said that lager volumes for the year ended 31st March 2010 were in line with the previous year at 213m hectolitres. Group revenue was up 4%, EBITDA up 6% and margin increased by 30 basis points. The Board has recommended a total dividend for the year of 68.0 cents, an increase of 17% on the previous year.
Great Portland Estates Plc (LON:GPOR) announced an increase in NAV per share of 15.5% for the year ended 31st March 2010. Overall the Company made a profit before tax of £28.8m up 31.5% on 2009. The total dividend for the year amounts to 8p which is in line with previous guidance.
National Grid (LON:NG.) said performance in the year ended 31st March 2010 was strong, with earnings per share up 14%. Pre-tax profit was up 12% to £1,974m. The Board is recommending an 8% increase in the full year dividend to 38.49p and intends to maintain the policy of 8% per annum growth until 31st March 2010. Current trading for 2010/11 is in line with expectations. The Company also announced a 2 for 5 rights issue to raise approximately £3.2b through the issue of 990,439,017 new shares at a price of 335p each. The Board believes that raising the money through the rights issue will allow the Group to fund a significant increase in the UK capital investment, maintain a single A credit rating and also strengthen the Company’s long-term competitive position.
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Marston’s PLC is operating managed, tenanted, leased and franchised public houses, brewing beer and wholesaling beer, wines, spirits and soft drinks. The Company operates in the United Kingdom eating-out and drinking-out markets through its pubs; sell its products to the United Kingdom on-trade and off-trade, and export to 53 countries globally. The Company operates in four segments: Managed Pubs, Tenanted and Franchised, Brewing and Group Services. Managed Pubs segment generates revenue from food and drink sales, accommodation and gaming machine income. Tenanted and Franchised segment generates revenue food and drink sales, rent from licensed properties and gaming machine income. Brewing segment generates revenue from drink sales and third party brewing and packaging. As of September 29, 2012, it operated around 2,150 pubs, consisted of tenanted, franchised and managed pubs, and five breweries. more »
Great Portland Estates plc is a property investment and development company focused on central London real estate. The Company’s 81% of its portfolio is in the West End with the remainder in the City, Midtown and Southwark. It manages its property portfolio in-house, including asset management, leasing and development management. Its sources of debt funding include both secured and unsecured, and include the public, private and bank markets. The Company’s featured properties include Wigmore Street Island Site, 20 St James's Street, 160 Great Portland Street and 240 Blackfriars Road. In December 2012, it purchased Minerva House, a freehold office and residential building located on the South Bank of the river Thames adjacent to Southwark Cathedral. In April 2013, The Great Ropemaker partnership (GRP), a 50:50 Joint Venture between Great Portland Estates plc (GPE) and the BP Pension Fund announced that it has acquired 148 Old Street, EC1 from the BP Pension Fund. more »
SABMiller plc is a holding company which has brewing and beverage interests across six continents. The Company is engaged in manufacture, distribution and sale of beverages. As of March 31, 2012, it had more than 200 beer brands in over 75 countries. It is bottler of Coca-Cola products. Its global brands include Peroni Nastro Azzurro, Pilsner Urquell, Grolsch and Miller Genuine Draft. On January 13, 2012, it acquired the remaining 50% interest in Pacific Beverages Pty Ltd. On January 1, 2012, the group acquired a 27.5% interest in BIH Brasseries Internationales Holding (Angola) Ltd. On January 1, 2012, it acquired a 33% interest in International Breweries plc. In January 2012, it acquired an additional 2.9% interest in Tanzania Breweries Ltd. On December 16, 2011, the Company acquired a 100% interest in Foster’s Group Ltd. On November 25, 2011, it disposed of its 12% interest in its associate, Kenya Breweries Limited. On June 13, 2011, it disposed its distribution business in Italy. more »
