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Whitbread (LON:WTB) report: company review and analysis

Issued in a latest interim managerial statement Whitebread PL claimed that it anticipated a potent growth in its profits in the present financial fiscal. The biggest hotel and restaurant group in the UK witnessed the opening of sales at Premier Inn Hotels for over a year increase by 8.7 percent in the third quarter of the fiscal year. Likewise sales at Costa Coffee outlets that were open for over a year grow up to 11 per cent.

Daisy Group (LON:DAY) report: Acquisition of SpiriTel for ?27m

Daisy has announced a cash offer for SpiriTel priced at 51.5p/share (a 13.2% premium to Nov 9th price), or ?27.3m (fully diluted) plus ?6.1m of existing bank debt. Daisy reports that the deal will be funded from its existing bank facilities (totalling ?75m); it expects EPS enhancement in FY’12 of approximately 1.2p/share (+11% on DSCE) inclusive of some ?700k in estimated potential cost savings. The deal is priced at an indicative 5.7x EV/EBITDA.

Dominion Petroleum (LON:DPL.L) report: Operational Update – Tanzania Seismic

The 3D seismic over its deep water Block 7 has been completed. The survey was 1,236 square kilometres and covered the Alpha, Beta and three other prospects

IS Pharma (LON:ISPH.L) report: Interim results and placing

IS Pharma announced its Interim Results for the six months ended 30 September 2010. Revenue was up 10% to ?6.5m (H1 2009: ?5.9m)

blinkx (LON:BLNX) report: 1H FY11 operating profit $2.0m. 1H average searches per day 31.6m

Online video search specialists blinkx reported, as previously highlighted in its Oct 14th Trading Update, 1H FY11 revenue up more that 100%YoY at $27.4m. Gross profit rose 109%YoY to $17.7m (DSCE $16.9m). Operating profit was $2.0m (DSCE $1.62m) compared with an operating loss of $7.4m for 1H FY10. PBT was $2.0m (DSCE $1.86m), compared with a loss before tax of $7.3m for 1H10. As previously indicated, blinkx generated cash in the half, adding $2.3m, with a resulting closing balance of $16.9m.

Planet Payment (LON:PPT) report: Q3 results encouraging

Planet Payment has announced Q3 results this morning. These show an improving trend with revenue growth of 32% vs Q3’09 to $15.5m, though Q3 was affected by the Visa moratorium on providers’ forex transactions and so was only 7% ahead vs $14.5m in Q2. The key multi-currency revenue was up 47% vs Q3’09 to $12.5m and by 8% vs Q2. Adjusted EBITDA was $0.4m for Q3 vs $0.2m in Q2 and a loss of $0.6m in Q1. These figures were behind our forecast of $17.5m of revenue and $1.4m of EBITDA. However, the run rate going into Q4 looks strong.

ProStrakan (LON:PSK) report: Norgine acquires stake in ProStrakan

Norgine B.V. announced that it has acquired 25,515,873 shares in ProStrakan Group plc representing 12.6 per cent. of the issued share capital of ProStrakan. Whilst Norgine will continue to consider its options in relation to its holding in ProStrakan, it confirms that it has no current intention to make an offer for the company.

Sirius Minerals (LON:SXX) report: Drilling starts in North Dakota

Sirius Minerals has announced that it has started drilling on its North Dakota property. The hole is to be drilled to a total depth of 2,740 metres and should be completed, including analysis of the core, within approximately two months.

Altitude Group (LON:ALT) report: Trading update

ALT this morning reported a positive trading update alluding to improved order intake levels seen in Q2 continuing into Q3. As a result of the trading environment improving and with prudent cost management measurements taken, we take the opportunity to upgrade our forecasts and target price. We increase our revenue forecasts for FY10E to ?17.6m (?16.5m) and FY11E to ?18.6m (?17.3m), this combined with prudent cost control, results in PBT (Adj.) increasing to ?0.8m (?0.5m) for FY10E and ?0.9m (?0.8m) for FY11E.

ASOS (LON:ASC) report: Interim PBT +59%YoY; no interim dividend; sees FY in line with market expectations

ASOS reported (Sep) 1H’10/11 retail sales +50%YoY, with international +120% (35% of total), and total revenue at ?139.7m +45%YoY. Retail gross margin improved at 47.4% vs 44.6% a year earlier; Operating profit rose 61%YoY (?7.1m); PBT rose 59%YoY to ?7.0m. The company noted that average basket value was up 9%, average selling price was up 11%, visits rose 65% and the number of active customers rose 33%. The US website was launched with initial trends as expected.

Axis-Shield (LON:ASD) report: Update

On October 28th Axis-Shield issued an IMS for the 17 week period ending 27 October 2010. In the Point-of-Care Division, the company indicated that it remains on track to reach its key milestone of delivering 10,000 Afinion system placements by the end of the year, with continuing good cartridge utilisation and improving production efficiency in its manufacturing operations.

International Ferro Metals (LON:IFL) report: Agreement signed for recovery of platinum from tailings

IFL has announced that it has signed an agreement with Phoenix Platinum, a subsidiary of AIM quoted Pan African Resources (PAF.L) to develop a Chrome Tailings Retreatment Plant (CTRP). This will treat existing tailings and new tailings at IFL’s Lesedi plant in South Africa. In essence, the tailings from IFL’s chrome recovery plant contain appreciable quantities of platinum group metals (PGM) though as the rights to PGM are not held by IFL it had no interest in their recovery.

British Sky Broadcasting (LON:BSY) report: Cable’s voice

Business Secretary Vince Cable has initiated (Nov. 4th) a review by Ofcom into News Corp.'s bid to buy the remaining 60.9% BSkyB, on the basis that the move might reduce diversity in U.K media. This follows on News Corp.’s appeal to the EU to approve the deal. Ofcom will report by yearendas the basis for a possible referral to the Competition Commission, which could initiate a lengthy review process. The European Commission has set a provisional date of Dec. 8 to complete its review.

Smith & Nephew (LON:SN..L) report: Q3 results ahead of consensus

Smith & Nephew, announced results for the third quarter ended 2 October 2010. Revenue at $941m beat consensus estimates of $927m. Adjusted EPS at 16.1 cents, beat average forecasts of 15.5 cents.

BHP Billiton (LON:BLT) report: Canada blocks takeover of PotashCorp

The Canadian Minister of Industry has effectively rejected BHP Billiton's attempt to acquire PotashCorp on the grounds that it is unlikely to be of net benefit to Canada. This is deeply disappointing for BHP Billiton, in particular as it is the third major transaction in a row that it has failed to complete. It is now abundantly clear that very large transactions are unpopular at the state level on a global basis.

BTG (LON:BGC) report: Interim results

Revenue of ?46.1m (H1 09/10: ?47.9m). Profit before tax of ?1.6m (H1 09/10: ?2.4m). Cash and cash equivalents at 30 September 2010 of ?63.9m (31 March 2010: ?82.6m)

Volga Gas (LON:VGAS.L) report: Operational Update – production

Q3 production averaged 1,376b/d up from 832b/d in Q2. Prices also increase from $31.09/b to 32.19/b in the same timeframe. Production at Uzenskoye was disrupted in Q2 because of abnorma weather in the region making the roads unusable

888 Holdings (LON:888) report: Q3 Trading update

Q3/10 operating income at similar level to Q2/10 and Q3/09 at $61m. B2C operating income was up 6% YoY and B2B (Dragonfish) operating income was up 6% on a pro-forma basis. Poker and casino performed poorly with operating income down 34% and 9% on a pro-forma basis. Bingo performed strongly as a result of the acquisition of Wink Bingo but on a l-f-l basis was up c7% vs Q3/09.

Petropavlovsk (LON:POG) report: 3Q Production Results and IMS

Petropavlovsk has had to quantify the extent of the production problems at its gold mines in Russia. In essence, it has had to cut its production forecast for 2010 for the second time – it now expects to produce between 510,000 and 530,000 ounces, down from a range of 670,000 to 760,000 ounces. The problems apparently stem from a combination of poor weather conditions and late delivery of various major items of mining equipment. However, the underlying reason appears to be a failure to manage the growth of the company – overpromising and under-delivering.

San Leon Energy Plc (LON:SLE) report: Concession awarded – Baltic Basin, Poland

San Leon has been awarded an expansion to the Gdansk W Concession in northern Poland. The expansion increases the total acreage in the farm out agreement with Talisman Energy. The concession increases the company’s presence in the Baltic basin by 114.6 km2 to 894.41 km2

Unibet Group (LON:UNIB) report: Q3 Trading update

Gross revenue for Q3/10 (?31m) came in c21% below consensus forecasts of ?37.5m. Similarly Q3/10 PBT ?6.8m was c16% below consensus forecasts. Number of active customers was c3% below Q3/09. As a result we estimate that Unitbet would need to put in a credible Q4 (revenue ?39m and PBT ?9m) in order meet FY consensus expectations (?151.4m) and consensus PBT (?33.6m).

Desire Petroleum (LON:DES.L) report: Drilling update – Rachael Sidetrack

Desire reports that it is unable to clean out the sidetrack due to a mechanical failure of the well bore and they will not be able to obtain wireline logging. What data they could obtain from the drilling tools and geological data indicate around 25m of sand with oil shows

Imperial Tobacco (LON:IMT.L) report: Final results in line, stock looks cheap

Imperial Tobacco reported final results this morning in line with expectations, though the eps figure was a touch behind our forecast. Volumes were down by 3%, as measured by white stick equivalents (a blend of cigarette and fine cut tobacco volumes), as flagged in the preclose statement. Cigarette volumes were down 4.2% but this was mitigated by a rise in fine cut tobacco volume, where IMT is the world leader, of 8.7%. Weak volumes in Eastern Europe have been a particular drag.

Playtech (LON:PTEC) report: Q3 Trading update

PTEC this morning announced its Q3/10 results inline with expectations, revenue increased by 17% to ?32.5m vs Q3/09 and excluding the impact of France total revenue was down only 2% vs Q2/10 lower than expected.

Software Radio Technology (LON:SRT) report: Interim PAT recovers to ?1.3m profit

Software Radio Technology [NR] develops maritime VHF and AIS equipment for identification and tracking in navigation and homeland security applications. It reports 1H’10/11 (Sep) revenue +94%YoY to ?4.42m (1H’09 ?2.28m); operating profit of ?1.099m (versus a 1H’09 (?197k) loss); PAT ?1.33m (1H’09 loss was ?31k). Gross margin improved to 48% (1H’09 was 36%).

Gulf Keystone Petroleum Ltd (LON:GKP) report: Operational Update

Shaikan-3 is at 1,229m and in the Garagu formation. The company reports that oil shows have been observed both while drilling and in the core. The wellbore is being conditioned prior to logging. Following logging the well will be drilled to TD and then the pay interval can be tested

Iomart (LON:IOM) report: Acquisition of Titan Internet for ?4.2m

iomart Group has announced the acquisition of Titan Internet Ltd., for ?3.6m in cash and up to ?0.6m payable no earlier than 1 April 2011, subject to performance criteria. The company states that the acquisition is “in line with iomart's strategy of becoming the UK's foremost hosting company, focused on the delivery of high-end managed hosting environments and solutions”.

Metminco (LON:MNC) report: September Quarterly Results

Metminco has issued a comprehensive update covering its operations during the September quarter. The most important event was the deal to acquire the remaining minority interests in Hampton Mining. This should complete on 24 November assuming it is passed at the AGM on that day. Metminco will then own 100% of Hampton and hence Los Calatos.

San Leon Energy Plc (LON:SLE) report: Placing and other funding arrangements

San Leon has signed a Standby Equity Distribution Agreement (SEDA) with Yorkville for ?15m. San Leon can draw on the funds at its discretion for a period of up to three years in exchange for shares issued at a 6% discount. Separately San Leon has agreed a ?2m unsecured loan facility with Yorkville which can be drawn at San Leon’s discretion. The interest rate is 9%

Dragon Oil (LON:DGO.L) report: Drilling update – Dzheitune B/148, 28/149 wells

The B/148 well is the third to be drilled from the Dzheitune B platform and reached a depth of 3,858m. Testing of the dual string resulted in production of 1,556b/d and 1,083b/d respectively. The drilling rig, Iran Khazar, is now drilling the B/150 well

Xstrata (LON:XTA) report: George Fisher mine expansion approved

Xstrata has announced that it has approved an investment of A$274m in its George Fisher underground zinc mine at Mount Isa in Australia. The investment will expand production capacity by around 30% from 2013, taking it from 3.5 mt/y to 4.5 mt/y.

Chariot Oil & Gas Ltd (LON:CHAR) report: CPR by Netherland Sewell confirms 10bnbbl volumes

Netherland Sewell have done an independent review which confirms the gross mean unrisked prospective volumes of 10.06bnbbl. Gross mean risked resource potential of 1.13bnbbl (Net to Chariot - 0.85 bnbbls). The CoS is marginally higher at 11.3% v managements figures of 10.7% with improved figures in the North which Chariot has a 100% stake in

Sportingbet (LON:SBT) report: Spanish Siesta!

News out of Spain is that regional authorities are at odds with Spain’s Ministry of Finance regarding online gambling reforms. Madrid’s local director of gaming and taxation, demanded a larger role for regional authorities in the process and the recognition of online regulations already in place in some regions in Spain.

Rockhopper Exploration (LON:RKH.L) report: Seismic update – License Pl024 and PL003, PL004 Desire

Rockhopper has signed for another 3D survey with Polarcus which is in addition to the 3D survey announced on 21 October.The survey will survey areas of its PL024 license, some adjacent areas  not previously covered. Rockhopper will participate with Desire Petroleum on licenses PL003 and PL003 in which Rockhopper has a 7.5% working interest.The vessel used is the Nadia which should start in December and complete in April 2011.

SOCO International (LON:SIA.L) report: Well update – Kinganga Nyanya

TD has been reached on the wildcat exploration well, Kinganga Nyanya-1, in the Nganzi Block, DRC. The target Lucula formation was reached but was not hydrocarbon bearing.Oil pay was encountered in the secondary target Chela formation sands. On abbreviated tests the sands were found to be tight.The well is going to be plugged and abandoned and the rig to move to the Bayingu-1 well which is targeting a four way closure.

Betsson (LON:BETSB) report: Q3 – Interim report

Betsson put in a credible top line performance of SEK 385m, c8% ahead of consensus (SEK 356m). However EPS was SEK 1.94, c7% below consensus SEK 2.08, much of this ascribed to a currency revaluation of the balance sheet of SEK 13m.The sportsbook in particular performed strongly up 91% vs Q309 to SEK 1.2bn (gross turnover). Live betting (in:play) made up 60% of sports book activity an increase of 278% vs Q309. Gross profit margin on the sportsbook was c7.4%.Active customer count c256, 000 was below the consensus forecast of 282 000 Betsson and below 289 000 in Q2. Betsson has c2.8m registered customers of which c10% (256 000) are active customers.

Cairn Energy (LON:CNE.L) report: Operations update – Greenland

According to their agreement with the Greenland Bureau of Minerals and Petroleum all operations ceased at the end of the drilling season and the two Stena rigs have been released.Alpha-1S1 well has been suspended still in volcanics and the Mesozoic has not yet been reached.T4-1 did not find any significant hydrocarbons albeit in a different stratigraphic level to T8-1. The T8-1 (announced Aug 24) encounterd gas but in this levels. T8-1 and T4-1 are not commercial and $184m will be written off.Geophysical work continues in the area.

Faroe Petroleum (LON:FPM.L ) report: Acquisition – 18% of Blane Oil Field

Faroe has agreed to acquire a 18% shake in the Blane oil field from ENI UK. It is described as a low cost producer with September production rates of 11,964boe/d (2,154 net).With tax loss synergies, management estimates that the cost was $17.5/boe for 2P reserves of 3mmboe.The headline consideration is ?60m which is subject to working cap adjustments and a farm out of a 20% interest in three Atlantic margin exploration licenses. The farmed out portion will be the Atlantic Margin Rannva exploration license which contains one of the largest un-drilled anticlines in the north west europe.

Betfair (LON:BET) report: LMAX officially launched

Betfair, today announced the launch of LMAX its exchange betting platform for online retail financial trading of CFD’s and FX.The platform was recently authorised by the FSA and this allows Betfair the opportunity to compete in the online financial retail trading space.LMAX aims to replicate Betfair’s sports betting technology platform in the online retail trading of financial instruments.Betfair has over 3m registered users on its sports betting book of which c800, 000 are active regular customers. Cross selling a fraction (1/10th) of this user base over to the LMAX platform could add substantial financial benefits to Betfair.

Gulfsands Petroleum (LON:GPX.L) report: Syria Update

The Khurbet East-18 well has been drilled 800m to the north of the Khurbet-1 discovery well in an effort to delineate the field.The reservoir was encountered 12m higher than the pre-drill prognosis and just 4m below the highest point know in the reservoir so far and indicates that the field extends in a more northward direction than previously thought.The well encountered a gross 45.8m or 36.5m net with average porosity of 20.2% bad oil saturation of 86.9%.The impact on oil in place and recoverable oil will be calculated at year end and should be available in Q1 2011.