News & Tips: Parkmead Group, Brewin Dolphin, Tesco, Standard Chartered …

December 4, 2013 by  
Filed under Wind Energy Tips

Equities are steady after the sell off of recent days, which The Trader Dominic Picarda points out is quite normal for this time of year and there is still scope for a rally towards Christmas.



Parkmead Group (PMG) has been awarded two licences in the southern North Sea in the second tranche of the 27th licensing round by the UK government, adding five new exploration blocks to its portfolio. The company now has 53 oil and gas blocks in the UK and Netherlands. Buy.

Strong equity market conditions have benefited performance at financial services specialist Brewin Dolphin (BRW) where annual profits have risen by 22 per cent to £52.3m and total managed funds grew from £25.9bn to £28.2bn during the year. We keep our buy recommendation.

Simon Thompson recommendation Indian renewable energy company Greenko (GKO) has grown its operational capacity by 74 per cent over the six months to September, ending the period with 426MW of output. Revenues grew by 32 per cent in the period and reported cash earnings by 49 per cent to €24.6m as rising generation kicked in. The company has a further 608.6MW under construction and more than 1.3GW in ‘active development’.

Oil services business Amec (AMEC) has won a $124m contract for the development of an offshore complex for the Umm Lulu gas field in the Unired Arab Emirates. Buy.



Supermarket giant Tesco (TSCO) has issued another lacklustre set of results as management battles to turn performance around both in the UK and in its vast international portfolio. Group sales edged ahead by 0.6 per cent, and by 0.9 per cent in the UK, but overall like for like sales dipped by 1.5 per cent. The company says that UK performance during the third quarter was in line with the subdued grocery sector and that performance in Poland and Turkey is improving but Thailand and Ireland remain weak. Indeed, like for like sales in Asia fell by 5.1 per cent and by 4 per cent in Europe.

Standard Chartered (STAN) reports that the difficult market conditions which began to affect its primarily emerging markets banking operations in August have continued and mean that 2013 performance in most divisions is likely to be relatively flat on last year. Meanwhile, the levels of impairment remain relatively high but will not be fully disclosed until results in March.

Sage Group (SGE) says growth is accelerating with organic revenues up by 4 per cent in the year to September and 5 per cent during the second half of the year.

New River Retail (NRR) has spent £24m buying a portfolio of three shopping centres from Zolfo Cooper which is has been running since last December as asset manager. The centres are in Newkirkgate, Edinburgh, North Shields and Grangemouth.



St Modwen Properties (SMP) has signed up Marks Spencer to anchor its redevelopment of the town centre of Longbridge, Birmingham. The company also issued a trading statement saying that profit for the full year is now expected to be substantially ahead of previous expectations.

ITM Power (ITM) has announced the successful testing of its electrolyser technology in Germany which has created hydrogen and injected it into the gas network.



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