News & Tips: Carillion, Hammerson, Premier Oil, Infinis & more

November 29, 2013 by  
Filed under Wind Energy Tips

Equities are edging higher in early trading, although not in a terribly convincing way. The Trader Dominic Picarda still believes the overall trend is upwards though.


Carillion (CLLN) has been named preferred bidder for a strategic partnership with Sunderland City Council for a major regeneration programme which will yield at least £100m over the first eight years and potentially £800m over 20 years. We keep our buy recommendation.

Tangiers Petroleum (TPET) reports that good progress is being made on preparing for drilling on the Tarfaya Block in Morocco. Buy.

Hammerson (HMSO) has raised $443m from nine US investors through a series of loan notes dated between seven and 12 years. The proceeds will go towards refinancing other debts including a €480m Eurobond due in 2015, bringing down the overall cost of borrowing. We maintain our buy rating.

Indian power generator KSK Power Ventur (KSK) has been hit by a combination of negative factors including the extended Indian monsoon season and the sustained decline in the value of the rupee. This contributed to a 24 per cent dip in revenues to $150.7m with steeper falls in operating profits to $30.4m. Our recommendation is under review.

Premier Oil (PMO) reports that take up of its 5 per cent 2020 bond issue means that the company is expecting to raise at least £100m. The offer remains open until next Friday.


Recently listed renewable energy generator Infinis (INFI) has posted a 10.5 per cent rise in revenues for the six months to September with cash earnings before exceptional costs up 21.2 per cent to £63.9m.

Wealth management specialist Mattioli Woods (MTW) has grown revenues by 20 per cent year on year in the six months to September with recurring revenues now accounting for 75 per cent of the total.

Lettings specialist Belvoir (BLV) announces that its Warrington and St Helens franchisees have acquired a portfolio of lettings in the Merseyside and Cheshire region.


Marwyn Management Partners (MMP) has decided not to proceed with the proposed Aim listing of the Metropolitan European Transport business and is considering other forms of financing.

Max Property (MAX) grew its net assets by 8.4 per cent in the six months to September with net asset value per share up by 7.5 per cent to 146.8p. The company still has £50m of cash to deploy.

African budget airline Fastjet (FJET) has launched its second international route, from Dar es Salaam to Lusaka in Zambia, on the date of its first anniversary of flights from Dar es Salaam.



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