ICP.L Share News (ICP)

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.
-------
FTSE 100 - WINNERS
-------
Capita, up 3.9%. The outsourcing company has raised its interim dividend for the half year to end-June and expressed confidence in its full-year performance, despite seeing pretax profit hit by exceptional costs. It posted a pretax profit of GBP152.3 million, down from GBP157.5 million in the previous year, despite seeing revenue rise to GBP2.07 billion from GBP1.82 billion, as it was hit by GBP85.7 million in exceptional expenses, higher cost of sales, and higher administrative expenses. Still, the company said its high level of revenue visibility, combined with the strength of its bid and acquisition pipelines, gives it confidence in its full-year performance and provides a good platform for growth in 2015. Capita proposed an interim dividend of 9.6 pence, up 10% from 8.7 pence in the previous year.

BHP Billiton, up 1%. The mining company's shares have risen after it reported a 20% increase in full-year 2014 iron ore production from last year, to a record 203.6 million tonnes, delivering its fourteenth consecutive annual production record. It also reported a 19% year-on-year increase in iron ore production for the fourth quarter, and a 15% increase from the previous third quarter. BHP's fourth-quarter production of metallurgical coal grew 9% from last year to 11.89 million tonnes, and increased 4% from the third quarter. Production for the year also increased 20% to 45.1 million tonnes.
-------
FTSE 100 - LOSERS
-------
SSE, down 3.1%, and London Stock Exchange Group, down 0.8%. The companies are among the heaviest losers in the blue-chip index after going ex-dividend, meaning new buyers no longer qualify for the latest dividend payout.

Johnson Matthey, down 1.1%. Shares in the company have fallen sharply after it posted a drop in pretax profit in its first quarter. The chemicals and precious metals products company said pretax profit declined 10% during the quarter to June 30, coming in at GBP95.0 million, compared with the GBP106.09 million recorded in 2013. Operating profit also fell, down 11% to GBP103.6 million from GBP116.1 million last year. It said the impact of adverse foreign exchange movements amounts to approximately GBP50 million.
-------
FTSE 250 - WINNERS
-------
Renishaw, up 19%. The engineering company reported an increase in profit for the recent full year, boosted in part by the sale of Declam and a strong performance from its metrology division. The company, which designs, manufactures and sells advanced precision metrology and inspection equipment for the healthcare sector, posted pretax profit of GBP96.4 million for the year to end-June, up from GBP82.1 million a year earlier, boosted in part by a GBP26.3 million gain on the disposal of its 19.4% stake in Delcam. Renishaw also said that its metrology, or industrial measurement business, saw strong demand. The company's revenue rose to GBP355.5 million from GBP346.9 million.

Kazakhmys, up 7.4%. The mining company has unveiled an agreement to dispose of some of its mature mining assets in the Zhezkazgan and Central Regions of Kazakhstan, as it looks to restructure, strengthen its financial position, and focus on production from a small group of large-scale, low-cost open-pit mines. Kazakhmys also said it wants to rename itself as KAZ Minerals PLC following the disposals, which will leave it as the owner of the mining and producing assets in the East Region and the Bozymchak mine in Kyrgyzstan. The company said that it has agreed to transfer the companies owning the disposal assets to Cuprum Holding, which is owned by board members Vladimir Kim and Eduard Ogay. Ogay will step down from the Kazakhmys board as he will become the chief executive of Cuprum, though Kim, a former Kazakhmys chairman, will remain on the board.

Morgan Advanced Materials, up 5.2%. The technology company's shares have jumped after it reported an increase in profit for the first half, despite a drop in revenue following a mixed performance across the business. The company posted pretax profit of GBP37.5 million for the period ended June 30, up from GBP35.7 million a year earlier. Revenue, however, fell to GBP448.4 million from GBP486.1 million. The company said its results were impacted by the continued strength of sterling. It said relative to the first half of 2013, the impact of foreign exchange caused a reduction of GBP33.7 million in revenue and GBP5.1 million in earnings before interest, taxation and amortisation.

Intermediate Capital Group, up 2.8%. The group said its assets under management increased by 2% in the first-quarter, reaching EUR13.3 billion at the end of June, as it continues to introduce new products. It said that EUR1.0 billion of new third party money was raised in the first-quarter, though it admitted that there also was a strong level of realisations by investors.

Entertainment One, up 1.9%. The media group said it will meet its expectations for full-year earnings, as it saw revenues rise 4% on a constant currency basis in its first quarter to end-June. It said it had started the year in line with expectations, and said it plans to release over 275 films and deliver over 300 half hours of television in the year.
-------
FTSE 250 - LOSERS
-------
Poundland Group, down 1.7%. Jefferies has initiated analyst coverage on the company with an Underperform rating and a price target of 260 pence, saying that Poundland will find it tougher to compete in a growing discount retail market, particularly when the UK consumer begins to have more money to spend. Deutsche Bank, meanwhile, has initiated coverage on the stock with a Hold rating and 330 pence price target.

TalkTalk Telecom Group, down 1%. The telecommunications company's shares have fallen, even though it said it is on track to meet its financial year 2015 guidance and medium-term financial targets. It said revenue in the first quarter to end-June rose to GBP434 million from GBP421 million in the previous year, with its on-network revenue - meaning revenue from using its own equipment, as opposed to wholesale arrangements - rising to GBP322 million from GBP306 million. Average revenue per user was broadly flat at GBP26.36, compared to GBP26.28 in the previous year. TalkTalk reiterated its guidance for the full year, expecting revenues to grow by at least 4%, modest growth in net adds, and dividend growth of no less than 15%.

Synergy Health, down 0.8%. The healthcare services company said that it remains committed to achieving its underlying growth expectations for the full year, although it warned that the strengthening of sterling may hit its results. It said it had seen revenue rise to GBP99.1 million in the first quarter to June 29 on a constant currency basis from GBP96.6 million a year before. However, at actual currency rates, revenue declined 1.1% to GBP95.6 million. Some 60% of the company's revenue is denominated in currencies other than sterling, it said, and as a result it is hurt by the appreciation of sterling.
-------
AIM ALL-SHARE - WINNERS
-------
Minco, up 31%. The company has filed a technical report on its Woodstock manganese property in Canada, which further highlights the positive economics of drilling for manganese at the site, following a released preliminary economic assessment earlier in July. The technical report, which was completed by Tetra Tech and Thibault & Associates Inc showed four key factors increasing the economic advantages of electrolytic manganese metal production on site. It said the economic assessment shows low mining costs as its Plymouth deposit is amendable to low-cost open pit mining methods with low stripping ratios. In addition, it said the manganese mineralisation on site is readily soluble by direct sulphuric acid leaching, removing the requirement for high-cost manganese reduction steps that are typical of manganese oxide processing.

Serabi Gold, up 23%. The gold miner said commercial production started at the Palito gold mine in Brazil on 1 July and provided an update on the gold mining operations at the site. It said gold production in the second quarter to end-June was 3,242 ounces and said the total for 2014 so far was 5,542 ounces.

Totally, up 12%. The group said that its Totally Health Ltd subsidiary has extended its contract with Leicester City Clinical Commissioning Group to provide additional Clinical Health Coaching services to patients diagnosed with Chronic Obstructive Pulmonary Disease. The contract extension is expected to generate additional revenues of GBP32,000, excluding VAT, over an eight month period, the company said.

Seeing Machines, up 8.8%. The company has inked a sales and marketing agreement with Finning International Inc, a dealer of Caterpillar Inc's construction and mining equipment, for its Drive State Sensor technology. The technology uses a console-mounted camera to track operator eye behaviour to determine the drivers state. Under the agreement Finning will provide sales and support for the product in China, Chile, Argentina, Bolivia and Uruguay. Seeing Machines said it also has begun a trial of the technology with Insurance Underwriting Managers (Pty) Ltd in South Africa. The company will trial the technology with a South African logistics fleet to assess its ability to reduce fatigue- and distraction-related road accidents. If the trial is successful, Insurance Underwriting will work with its national broker network and customers to broaden the uptake of the technology across its 25,000 insured commercial vehicles.
-------
AIM ALL-SHARE - LOSERS
-------
RapidCloud International, down 12%. The company said that it has conditionally agreed to acquire Singaporean web development firm Exxelnet Solutions Pte Ltd for around GBP950,000 in cash and shares. The consideration will be paid half in cash, and half in shares. To fund this acquisition the company has raised GBP600,000 in the placing of 1.1 million shares at 54 pence each. RapidCloud's shares are currently quoted at 61.50 pence.

Roxi Petroleum, down 11%. The oil and gas company's shares have fallen after it said it is currently awaiting additional heavy drilling fluids to arrive at deep well A5 at the BNG contract area in Kazakhstan in order to allow it to take core samples. Roxi's shares have more than tripled in the last few weeks, after it said on July 9 that the A5 well, which was the first deep well in the BNG contract area, had detected oil and gas shows at a depth of 4,332 metres.

Mobile Streams, down 11%. The mobile media company said its revenues and earnings before interest, tax, depreciation and amortisation for the year end-June will be behind the previous year due to the weakening of the Argentine peso and marketing expenses. It said it expects to post revenues of around GBP47 million, down from GBP53.9 million; 84% of its revenues were generated in Argentina. Although it will see a positive EBITDA, it will be "significantly reduced" compared to the previous year, it said. The Argentine peso weakened by 50% against the dollar during the period, while sterling strengthened 12% against the dollar.
-------
By James Kemp; jameskemp@alliancenews.com; @jamespkemp

Copyright 2014 Alliance News Limited. All Rights Reserved.