Breaking News in association with Money AM

Tuesday, 3rd November 2009

Q3 sales up 25% at PuriCore

9:17am
Life sciences company PuriCore reported a 25% increase in third-quarter sales to $10.6m from $8.4m in 2008.

US Food Safety revenue increased 10% to $5.8m while UK Endoscopy sales were up 52% to $4.6m.

Sales for the nine months to 30 September rose 6% to $29.6m.

During the quarter the company completed the acquisition of Labcaire Systems, which is performing ahead of internal expectations.

It raised £2m via a placing and established a new $2.1m debt facility which it says is consistent with its strategy to utilise...

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Braemar first half losses widen

9:17am
Braemar Group posts a first half pre-tax loss of £109,000 - up from £58,000 a year ago.

Revenue for the six months to the end of September was £1.4m compared with £1.3m last time.

Recurring income has increased to £545,000 - up from £308,000 - and with the reduction in administration expenses to £862,000 from £894,000, it covered 63% of administration expenses compared with 34% last ti,e

The group said this demonstrated significant progress in management's medium term goal of recurring income covering administration expenses in full.

Cash...

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FTSE sharply lower in early deals

9:17am
MORNING REPORT: Headline shares were sharply lower in early deals today, with banking issues the focus as RBS and Lloyds revealed contrasting restructuring plans, and with falling metals prices hauling down the heavyweight miners.

At 8:30am, the FTSE100 was down 72.94 points at 5,031.56 with the FTSE250 off 105.49 points at 8,812.4 and the FTSE Smallcaps 6.26 points weaker at 2,778.19.

US & ASIA

In the US last night, the Dow added 77 points at 9,789, the Nasdaq Composite gained 4 points at 2,049 and the S&P500 was up...

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Weir flags PBT at upper end of forecasts

8:32am
Weir Group expects an increase in pre-tax profit from continuing operations to the upper end of analyst forecasts, currently ranging between £151.6m and £177.1m.

In its IMS, the engineering group says a strong Q3 performance and foreign currency benefits give it increased confidence for the year ending 1 January.

The group says it has continued to perform well despite uncertainties in many of its markets.

'As expected revenue was adversely impacted by first-half input trends, although operating results benefited from a greater proportion of aftermarket sales, the realignment of...

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St James's Place AUM tops £20bn

8:32am
Wealth management group St James's Place returned to growth in the third quarter with funds under management topping £20bn for the first time.

In its interim management statement, the group reports a net inflow of £600m for the three months to September 30, compared with £500m for the same period in 2008.

Funds under management were £20.3bn, up £3.4bn over the three months. The group continued to retain over 95% of existing clients' funds.

Total new business on an APE (annual premium equivalent) basis were up 3% at £104.6m, with single...

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RBS to stop dividends and bonuses

8:32am
Royal Bank of Scotland will be barred from paying dividends for the next two years and will comply with G20 and FSA bonus restrictions for a two year period. RBS must shed its insurance business arm and some other businesses to satisfy EC rulings.

RBS has also agreed with HM Treasury that it will continue to work towards meeting its lending commitments for this year of £25bn of new lending. A similar lending commitment will be agreed for next year, which will reflect the economic circumstances at the time.

RBS will join GAPS and...

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