Bovis Homes (LON:BVS) said this week that it is trading in line with expectations as it unveiled a 16 per cent rise in private reservations to 802 in the first half. It also said completed 801 sales – two fewer than the same point last year – while the average price rose 3 per cent. The gross margin increased to 20 per cent from 16.5 per cent previously. Including social housing, Bovis sold 1,333 units in the six months, down from 1,474.
Price comparison website Moneysupermarket.com Group (LON:MONY) said trading in the second quarter had been strong and consistent with trends seen in Q1. Notably, in a statement covering the first six months of the year, the company said it had continued to invest in offline marketing, including sponsoring TV show 'Britain's Got Talent' in Q2 to consolidate its position as a mainstream brand.
Engineering and construction firm Balfour Beatty (LON:BBY) said this week that its performance in the first half was in line with expectations. The company added that its order book has remained stable in the first five months of the year and it expects further improvement following the acquisition of Howard S. Wright in late June.
Galliford Try (LON:GFRD) put out an upbeat update this week saying its full year results will be in line with expectations and that it is confident about prospects. Following an improvement in the housing market early in 2011, house sales levels have remained firm and prices stable, it added.
Persimmon (LON:PSN) reported a decline in UK sales in the first half, blaming it on constrained mortgage lending.
The FTSE 250 housebuilder has sold 4,439 homes in the six month to end June, down 4.7 percent from 4,567 in the same period last year. Average selling prices fell from £168,936 a year ago to £162,000, generating sales of £715 million.
Big Yellow Group (LON:BYG), the self-storage provider, revealed a modest rise in quarterly revenue and struck a cautious note on outlook citing the uncertain economic outlook. Over the group’s first quarter to June 30, its 52 wholly owned stores managed to increased total revenue by a modest 6 percent to £15.3 million versus the same quarter last year. Versus the immediately preceding quarter to 31 March 2011, the increase in revenue amounted to 4 percent.
Electrical and industrial distributor Premier Farnell (LON:PFL) announced this week that it expects lower than targeted revenue growth for Q2 this year. The firm revealed 1.4 percent year-on-year sales growth in the first two months of the second quarter (May and June) but this is much lower than its 6 - 8 percent target for the whole quarter.
Biotech testing services firm Cyprotex (LON:CRX) has made a deal with Hungary’s Solvo Biotechnology that will help its pharmaceutical customers further de-risk drug candidates before they are used in human trials.
Newspapers and magazines distributor Smiths News PLC (LON:NWS) expects only a minimal financial impact from News International’s decision to cease production of its UK Sunday tabloid the News Of The World from 10 July. News International is a UK newspaper publisher owned by Rupert Murdoch’s News Corp (NASDAQ:NWS, ASX:NWS).
Media Corporation (LON:MDC) was pleased with its quarterly results after a record performance from one of its key divisions made up for a decline in online poker revenues. The microcap internet advertising and gaming group offered a positive outlook for the rest of the year, saying that it is well funded to expand its business with earnings enhancing acquisitions.
Europe's biggest regional airline Flybe (LON:FLYB) has sold three Bombardier Q400 aircraft to South Africa’s Rand Merchant Bank of Johannesburg at a price above their book value. No further financial details of the agreement were disclosed.
Mobile messaging company Synchronica (LON:SYNC,TSE:SYN) saw trading in its shares restored on Friday after it published the admission document relating to the proposed acquisition of Nokia’s Operator Branded Messaging (OBM) business.
AGA Rangemaster’s (LON:AGA) revenues were slightly lower in the first half compared to 2010 but the cooker manufacturer called its performance “solid” given the weak market environment in the UK. The group was upbeat about the rest of the year, expecting its new heat-storage cooker AGA Total Control to give it “renewed sales momentum” and substantially increase cast iron cooker sales.
Sugar substitute company PureCircle (LON:PURE) is set to benefit from further regulatory approval for high-purity stevia – the naturally-occurring sweetener that it is the world’s largest producer of.
Jewellery firm Theo Fennell (LON:TFL) said that “extreme snow” during the Christmas trading period was responsible for flat sales in its financial year to 31 March 2011. Although the company had a strong first half last year, with sales up 12.5 percent, it only achieved total sales for the year of £12.5 million (broadly in line with the previous year’s sales of £12.6 million). Meanwhile, its loss before tax increased to £547,379 (2010: £349,765).
Wasabi Energy (LON:WAS, ASX:WAS) said that its Kalina Cycle power plant technology is rapidly gaining strong industry acceptance as the firm uses both licensing and build, own and operate (BOO) strategies to accelerate its rollout.
Fuel cells maker AFC Energy (LON:AFC) plans to begin field testing of its ‘Beta’ fuel cell system in the second half of this year as it moves towards commercialisation of its technology.
Northland Capital Partners upheld its bullish forecasts for Telit Communications (LON:TCM) this week, retaining the view that the company will outperform the growing telecom market in the next two years. Even though the share price has risen sharply over the past six months, rising from 70 pence at the start of the year to the current 91 pence, Northland sees Telit as a good buying opportunity.
Clothing retailer Alexon Group (LON:AXN) said that despite good progress made by it between January and July this year, it expects its performance during the current year to be affected by challenging trading conditions within the UK retail industry.
Cyan (LON:CYAN) announced this week that its interim revenues in 2011 significantly exceeded sales for the whole of 2010. The AIM quoted electronics company, specialising in the design, sale and support of a range of 16-bit and 32-bit microcontroller chips, said this is just a hint of what’s to come.
Analysts welcomed this week's news from Software Radio Technology (LON:SRT) that it had received US$525,000 in licence royalties for its first-generation AIS (automatic identification system) technology. Independent brokers Daniel Stewart and Arbuthnot Securities were both upbeat about the news. Both brokers rate Software Radio as a ‘buy’ with target prices of 48 pence and 50 pence respectively.
Advanced Computer Software (LON:ASW) has the potential to generate stronger growth than indicated by management’s current guidance, according to analysts at Edison Investment Research. In a note to investors, the research house said that the stock is attractively priced at current levels, and the group’s current guidance appears conservative.
Speciality pharmaceuticals firm Alliance Pharma (LON:APH) said this week that recent trading has been in line with management expectations ahead of its first half results, which are due in September. Sales for the six months to 30 June were approximately £24.4 million, which is £1 million ahead of the first half of 2010.
Wildhorse Energy (ASX:WHE) has this week lodged its ‘Pre‐Admission Announcement’ prior to its listing on the AIM market of the London Stock Exchange, which means that, allowing for the required notice period, it expects its shares to start trading on AIM in early August. The company's shares will continue to be listed and trade on the Australian Securities Exchange.