News & Tips: Premier Oil, Rockhopper, Ophir, Tesco & more

June 4, 2014 by  
Filed under Wind Energy Tips

Equities are trading flat first thing in London this morning as traders await jobs data from the US and European Central Bank action later this week.


Premier Oil (PMO) has announced a wet gas discovery at the Singa-Laut 1 well offshore Indonesia and gas shows at the Ratu Gajah well. Meanwhile, it has also signed a rig contract for its exploration campaign in the Falklands, in which Falkland Oil and Gas (FOGL) and Rockhopper Exploration (RKH). We maintain our buy recommendation on Rockhopper.

Ophir Energy (OPHR) has announced a new gas discovery offshore Tanzania in the Taachui block which is 60 per cent owned by BG. Estimates for the mean recoverable resource are as much as 1 trillion cubic feet. We keep our buy rating.

Simon Thompson recommendation API Group (API) says that its laminates business is performing well and that its foils and holographics businesses are improving with the latter returning to break even in the final quarter of the year to March. Overall annual revenues grew by 2 per cent to £114.7m and profits were flat at £5.6m.

Final results from plastics specialist RPC (RPC) showed a 7 per cent rise in revenues and a 10.6 per cent rise in adjusted operating profits to £101.3m. Current trading is in line with expectations. Buy.

Simon Thompson recommendationThalassa (THAL) says that it has completed its latest seismic acquisition survey contract in the North Sea.

Synergy Healthcare (SYR) grew revenues by 5.3 per cent to £380.5m in the year to March with profits up 13 per cent to £42.9m. The dividend is increased by 10 per cent, reflecting ‘strong free cash flow and confidence in our outlook’. Our recommendation is under review.

Another Simon Thompson recommendation, Indian wind power business Greenko (GKO) has successfully commissioned phase two if its Basvanbagewadi wind farm in Karnataka, adding another 50MW to its portfolio and taking it to a total of 611MW, of which 298MW is wind power.


Tesco’s (TSCO) dreadful run of trading appears to have continued in the first quarter of its financial year with like for like sales falling across all of its operations. The UK performance was particularly disappointing with like for like sales excluding petrol falling by 3.7 per cent. Overall group like for like sales fell by 0.9 per cent.

Home shopping and educational supplies business Findel (FDL) enjoyed improved trading in the year to 28 March with revenues rising by 4.8 per cent and pre-tax profits before exceptional items rising 87 per cent to £22m.

Mears Group (MER) says trading is in line with expectations and it has secured 94 per cent of its forecast £908m 2014 revenues and 72 per cent of next year’s £960m forecast.

Advanced Computer Software (ASW) grew adjusted earnings by 68 per cent to £45.3m in the year to February, with organic growth accounting for 10 per cent and acquisitions the rest.

Workspace Group (WKP) enjoyed a buoyant year to March with profits up by 230 per cent to £252.5m. Its underlying property valuation rose by 27 per cent to £1.08bn.


Read today’s press headlines and share tips.


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