Tag Archives: Maynard Paton

Filed under: Investing

LONDON — The shares of Xcite Energy surged 13 pence, or 12%, to 122 pence during early London trade this morning after the oil explorer said its Bentley field might contain 909 million barrels of oil.

Xcite, which drilled its first well within the North Sea field during 2008, had last year said its Bentley operation carried oil in the region of 550 million barrels.

The company also said this morning that, on a so-called ‘P3’ basis, which includes proved, probable as well as possible reserves, the net present value of the field using a 10% discount rate may be $2.8 billion.

Xcite said the calculations were based on an initial 35-year production horizon and a peak production rate of 57,000 barrels of oil a day.

Rupert Cole, Xcite’s chief executive, said:

I am very pleased to report this significant increase in both reserves and value attributable to our assets, which supports our long-held belief in the potential of the Bentley field.

We have now moved Bentley from being a significant asset to one of the major strategic assets in the North Sea, which will be an important source of future employment and economic contribution to the U.K. for many years to come.

Cole also claimed now was the “right time” to evaluate suitable partners for developing the Bentley field further.

Last month, Xcite issued full-year results that showed sales of £13 million following the production and sale of 149,000 barrels of oil. The annual figures also showed a small accounting loss, some £128 million spent on exploration and development activities, as well as a year-end cash balance of £25 million.

Of course, whether this morning’s reserves update, the share-price reaction and the general outlook for the oil sector combine to make Xcite a buy is something only you can decide.

Indeed, you may wish to consult this free Motley Fool report, which explains the factors you need to consider — and the risks you might encounter — when evaluating oil and gas explorers.

Anyway, if Xcite is tempting you today, please click here to read the Fool’s exclusive oil and gas report before you hit the buy button.

link

The article Xcite Energy Limited Surges 12% After Claiming Bentley Field Could Hold 909 Million Barrels of Oil originally appeared on Fool.com.

Maynard Paton has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
…read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

SSE Fined £10.5 Million for Mis-Selling

April 3, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of SSE slipped 2 pence to 1,505 pence during early London trade this morning after the FTSE 100 member was fined £10.5 million by Ofgem.

SSE, which supplies electricity and gas to more than 9.5 million household and business customers within the U.K. and Ireland, was found by the regulator to have “consistently failed, over a prolonged period of time, to conduct its sales activities in a way that would provide clear and accurate information on prices and potential savings”.

Sarah Harrison, a senior partner in charge of enforcement at Ofgem, said: “In order to restore trust in the energy market suppliers must comply with their obligations and play it straight with consumers. Ofgem’s findings show SSE failed its customers, mis-sold to them and undermined trust in the energy supply industry.”

SSE said it was “deeply regretful that breaches occurred and apologises unreservedly to any customers who have been affected by sales activity which ran counter to the values and culture of the company.“

A large proportion of the mis-selling occurred between October 2009 and July 2011 and involved doorstep selling. Ofgem claimed SSE‘s board paid “insufficient attention to compliance” and failed to adequately monitor and audit doorstep, in-store and over-the-phone sales activity.

The £10.5 million fine, plus a £5 million compensation fund SSE has established, compares to group profits of £1.3 billion recorded during the twelve months to March 2012.

During January, SSE said its profits would advance by about 4% while its shareholder dividend would be raised from 80.1 pence to around 84 pence per share.

Such a lift would place the shares on a dividend yield of 5.6%.

Of course, whether today’s confirmation of mis-selling, that 5.6% income and the general prospects for the utility sector all combine to make SSE a buy right now is something only you can decide.

But if you already own SSE shares and are looking for alternative opportunities that come without a mis-selling embarrassment, this exclusive wealth report reviews five particularly attractive FTSE possibilities.

Indeed, all five blue chips offer a mix of robust prospects, illustrious histories and dependable dividends, and have just been declared by the Fool as “5 Shares You Can Retire On”!

Just click here for the report — it’s free.

link

The article SSE Fined £10.5 Million for Mis-Selling originally appeared on Fool.com.

Business, Finance, Occupation & Industry

BP's $8 Billion Buyback and 5% Yield

March 28, 2013 Bartle Doo Leave a comment

By Barry James, The Motley Fool

Filed under: Investing

LONDON — Barry James and Maynard Paton talk about BP and its investments in Russia, the recently announced $8 billion share buyback as well as the share’s 5%-plus dividend yield.

If you already hold BP shares and are looking for other buying opportunities, this new wealth report identifies five FTSE names that should provide you with a comfortable retirement. Justclick here for details.

link

The article BP’s $8 Billion Buyback and 5% Yield originally appeared on Fool.com.

Neither Barry James nor Maynard Paton has a position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

addEvent(window, "load", function(){new FoolVisualSciences();})
addEvent(window, "load", function(){new PickAd();})

var themeName = 'dailyfinance.com';
var _gaq = _gaq || [];
_gaq.push(['_setAccount', 'UA-24928199-1']);
_gaq.push(['_trackPageview']);

(function () {

var ga = document.createElement('script');
ga.type = 'text/javascript';
ga.async = true;
ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js';

var s = document.getElementsByTagName('script')[0];
s.parentNode.insertBefore(ga, s);
})();

Read | Permalink | Email this | Linking Blogs | Comments

Business, Finance, Occupation & Industry

National Grid May Still Yield 5.6% After Revealing New Dividend Policy

March 28, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of National Grid climbed 8 pence to 759 pence during early London trade this morning after the FTSE 100 member revealed its new dividend policy.

National Grid, which operates the country’s electricity transmission system, said its annual payout from 2014 onwards would rise at least in line with the Retail Prices Index measure of inflation.

Earlier this month, the Office of National Statistics revealed RPI inflation was running at 3.2%. The new dividend policy replaces National Grid‘s existing strategy of lifting the payout by 4% a year.

Steve Holliday, National Grid‘s chief executive, said: “I am pleased to confirm a new dividend policy that supports our long-term ambition to target a secure dividend in real terms for our shareholders while enabling the Group to sustain the strong balance sheet needed to fund the business.”

Holliday also said funding for further business growth would be sourced from retained profits and additional net debt.

In addition, he claimed any dividend increases above inflation would be supported by “sustained outperformance” and would have no impact on the group’s long-term credit ratings.

National Grid confirmed its final dividend for the year to March 2013 would reflect the existing 4% growth policy, which indicates a forthcoming final payout of 26.36 pence per share, a full-year dividend of 40.85 pence per share and a potential 5.4% income from the shares.

However, assuming RPI inflation stays at 3.2%, National Grid‘s dividend for the year to March 2014 should rise to 42.16 pence per share, which would push the share’s potential yield to 5.6%

Of course, whether the new dividend policy, a possible 5.6% income and the general prospects for the regulated electricity sector all combine to make National Grid a buy right now is something only you can decide.

But if you already own National Grid shares and are looking for alternative FTSE 100 buying opportunities, this exclusive wealth report profiles five particularly attractive possibilities.

Indeed, all five blue chips offer a mix of robust prospects, illustrious histories and dependable dividends, and have just been declared by the Motley Fool as “5 Shares You Can Retire On”!

Just click here for the report — it’s free.

link

The article National Grid May Still Yield 5.6% After Revealing New Dividend Policy originally appeared on Fool.com.

Maynard Paton has no position in any stocks mentioned. The Motley Fool recommends National Grid plc (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Business, Finance, Occupation & Industry

TUI Travel Predicts Profit Growth to Approach 10%

March 27, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of TUI Travel has 3.7% as of 8:40 a.m. EDT after the travel agent said current-year profit growth could approach 10%.

TUI, whose brands include Thomson and First Choice, confirmed that profit could advance toward the top end of its earlier expectations during the 12 months to September 2013. The optimistic prediction from the FTSE 100 member accompanied a first-half update revealing that mainstream winter sales were up 2% alongside improved margins. TUI said the “very strong trading momentum” had continued with summer bookings, with mainstream summer holiday sales up 7%.

Peter Long, chief executive of TUI, said:

We have a clear roadmap for growth built upon a deep understanding of our industry and customers. Our strong operational performance over winter means we will deliver reduced winter losses. … This very strong trading has continued into Summer 2013, leaving us well placed to achieve a full-year performance toward the upper end of our growth targets.

Assuming TUI‘s profit grows at 10% and the advance is reflected at the underlying post-tax level, near-term earnings could be 28 pence per share. That projection would place TUI‘s shares on a P/E of less than 12. Meanwhile, TUI‘s trailing 11.7 pence per-share dividend currently supports a 3.6% income.

Of course, whether this morning’s statement, the share-price valuation, and the general prospects for the holiday sector all combine to make TUI a buy right now is something only you can decide. But if you already own TUI shares and are looking for an alternative FTSE 100 opportunity, this exclusive in-depth report reviews a particularly attractive possibility. Indeed, this alternative offers a 5.7% income, might be worth 850 pence versus a current price of 700 pence, and has been declared the “Motley Fool’s Top Income Stock For 2013”! Just click here for the report — it’s free.

The article TUI Travel Predicts Profit Growth to Approach 10% originally appeared on Fool.com.

function …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Kazakhmys Slumps 10% After Reporting Annual Profits Down 67%

March 26, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

The shares of Kazakhmys slumped 45 pence, or 10%, to 399 pence during early London trade this morning after the miner confessed its earnings had dropped 67%.

Kazakhmys, which mines copper at 16 sites throughout Kazakhstan, said post-tax profits had dropped by $1 billion to $492 million. The company blamed lower commodity prices, rising industry costs and lower sales volumes of copper for the shortfall.

The statutory figures were blighted a $2 billion write-off relating to the group’s 26% stake in Eurasian Natural Resources, the reported book value of which has now been reduced to $2 billion. The market value of the stake yesterday was $1.3 billion.

The miner’s balance sheet also saw a $19 million net cash position transform into net debt of $707 million during the year. Additional borrowings were required to fund capital expenditure that nearly doubled to $1.2bn.

As previously announced, the full-year dividend was chopped from $0.28 to $0.11 per share.

Matthew Hird, the chief financial officer of Kazakhmys, said: “Debt will increase in the next couple of years as we invest in our new projects, but with $4.2 billion of secured long-term funding, we are in an excellent position to continue the delivery of our growth projects. Cost management will be a key focus in 2013 as we seek to improve cash flow from our core business and reduce the impact of rising industry costs.”

The shares of Kazakhmys have lost around 75% of their value since the start of 2011. However, the firm’s current £2.1 billion market cap is just five times the value of the underlying earnings reported today.

Of course, whether that rating and this morning’s results combine to make Kazakhmys a buy remains up to you to decide. However, this share did plunge from £18 to less than £2 during the 2008 banking crash, only to bounce as high as £16 during the 2009/10 recovery.

If you already own Kazakhmys shares and are looking for opportunities with less volatility, this special wealth report has identified five dividend champions the have delivered consistent returns to smart investors.

All five blue chips offer a mix of illustrious track records, defensive qualities, solid prospects and robust payouts. In fact, their features are so attractive, the five have been declared as “The 5 Shares You Can Retire On” by the Motley Fool.

Just click here to read this special report — it’s free.

link

The article Kazakhmys Slumps 10% After Reporting Annual Profits Down 67% originally appeared on Fool.com.

Business, Finance, Occupation & Industry

Afren Reports Earnings Up 95%

March 25, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of Afren advanced 3 pence to 150 pence during early London trade this morning after the oil company reported annual earnings up 95%.

Afren, which has operations and investments in Nigeria, Ghana, Kenya, Madagascar, and the Kurdistan region of Iraq, said its normalised post-tax profits had surged from $125 million to $244 million.

The profit advance followed production improving from 19,284 barrels of oil a day to 43,059 barrels of oil a day, an increase of 123%. The greater production helped revenues climb 151% to $1,499 million.

Afren also revealed its net debt had decreased from $548 million to $488 million despite capital expenditure of $523 million during the year.

A dividend was not declared.

Osman Shahenshah, Afren’s chief executive, said:

In 2012 we achieved record financial results driven by strong production growth at our greenfield developments offshore Nigeria. We realized an E&A success ratio of 88% and a 2P reserves replacement ratio of 265%. We have started our 2013 multi-well E&A campaign with success at Okwok, offshore Nigeria, and Simrit-2 and Simrit-3, in the Kurdistan region of Iraq.

With a track record of project delivery, exploration success and strategic acquisitions, we are well placed to continue to create significant value for shareholders.

Looking to 2013, Mr Shahenshah reckoned production during could average between 40,000 and 47,000 barrels of oil a day, and predicted capital expenditure could rise to $620 million.

Based on today’s results, Afren’s £1.6 billion market cap is equivalent to about 10 times last year’s earnings. Of course, only you can decide whether that valuation and this morning’s figures both combine to make Afren’s shares a buy right now.

Whatever you decide, Afren’s shares have more than ten-bagged since their 2009 low and provide another example of how smart investors can make enormous sums from quality resources shares.

If you already enjoy an Afren investment and are keen to earn wealth-changing returns from the oil sector, this free Fool report should help you on your way.

The report explains the factors you must consider — and the risks you’ll encounter — when evaluating potential multi-baggers within the industry. The report also profiles one part of the sector that looks set to grow considerably.

Just click here to download the special oil report today — it’s free.

link

The article Afren Reports Earnings Up 95% originally appeared on Fool.com.

Business, Finance, Occupation & Industry

Premier Oil Reports Record Profit and 5 Pence per-Share Dividend

March 21, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of Premier Oil have climbed 1.4% as of 10:30 a.m. EDT after the oil company revealed full-year earnings of $252 million.

The FTSE 250 member, which boasts investments and operations around the Falkland Islands, Indonesia, Norway, Mauritania, and Vietnam, said that post-tax profit had improved 47% last year to score the group’s fifth consecutive annual record. Premier also declared a 5 pence per-share dividend, the company’s first payout since 1997. The progress was supported by production rising 43% to almost 58,000 barrels of oil a day, which in turn pushed revenues from $837 million to $1,409 million.

Last year Premier spent $268 million on acquisitions and $772 million on development and exploration projects, which pushed net debt from $774 million to $1.1 billion. Premier also reported that its reserves and resources had expanded by 260 million barrels of oil, or 51%, to 773 million barrels of oil.

Simon Lockett, Premier’s chief executive, said: “Premier has built a strong asset portfolio which will act as a springboard for significant further growth over the medium term. … The next three years will see a further transformation of the business as we increase production and generate significantly greater cash flows.”

Meanwhile, Premier chairman Welton said, “The Board believes that the payment of a sustainable dividend underlines our confidence in rising cash flows, the strength of our balance sheet and the quality of our asset base.” Welton also claimed Premier’s share price had “not kept pace with the growth in value of the underlying assets of the business.”

Of course, you must decide for yourself whether Welton is right and Premier’s share price has some catching up to do. For what it’s worth, the company’s current 2.1 billion pound market cap is equivalent to less than 12 times 2012 profits. Premier also reckons its production could improve at least a further 13% to more than 65,000 barrels of oil a day during 2013, with a rate of 75,000 barrels achievable toward the end of the year.

Premier’s shares have almost tripled since their 2009 low and provide another example of how smart investors can make large sums from quality resources shares.

If you already own Premier shares and are keen to earn wealth-changing returns from other oil and gas explorers, this free Motley Fool report could help you on your way. The report explains the factors you need to consider — and the risks you might encounter — when evaluating potential multibaggers within the oil and gas sector. The report also profiles one part of the industry that looks set to grow considerably. Just click here to download the special oil and gas report today — it’s free.

The article Premier Oil Reports Record Profit and 5 Pence per-Share Dividend originally appeared on Fool.com.

Maynard Paton has no position in any stocks mentioned. The Motley Fool …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

United Utilities Should Still Offer 4.8% Yield

March 21, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of United Utilities have advanced 1.3% as of 10:20 a.m. EDT after the company confirmed that current-year profits would be “slightly higher” than the year before.

United Utilities, which supplies water to about 7 million people in North West England, also claimed today that it continues to be “on track to deliver its 2010-2015 regulatory outperformance targets.” Within today’s statement, the FTSE 100 member admitted that sales had increased at a rate “slightly below” the allowed regulated price rise for fiscal year 2013. The shortfall was blamed on the “continuing impact of a tough economic climate on commercial volumes.”

United Utilities added that its capital expenditure for the current year would be at least 750 million pounds and that its current net debt was slightly higher than the 5.3 billion pounds seen at the end of September.

Today’s statement did not mention anything about the dividend, which United Utilities has previously indicated should grow annually by 2% plus the rate of inflation as measured by the Retail Price Index until at least 2015.

Within November‘s half-year results, the group lifted its interim payout by 7% to 11.44 pence per share, and the current-year payout is forecast to gain 7% as well to 34.3 pence per share. The near-term yield is therefore 4.8%, which is greater than the 3.5% currently on offer from the FTSE 100 but less than the 5.7% provided by an alternative blue-chip utility share.

So, if you already own shares in United Utilities, you may wish to read this exclusive in-depth report about that alternative opportunity within the utilities sector. The report calculates this other share might be worth 850 pence versus a current price 700 pence. Just click here to access this special utilities review while it remains free and available.

The article United Utilities Should Still Offer 4.8% Yield originally appeared on Fool.com.

function addEvent(obj, evType, fn, useCapture){
…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

BowLeven Reveals $9 Million First-Half Loss and $90 Million Net Cash

March 20, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of BowLeven have bounced 3.4% to 98.5 pence as of 9 a.m. EDT after the oil and gas explorer revealed a $9 million first-half loss.

The half-year income statement showed revenue of zero, administration costs of $6 million, and adverse currency movements of $3 million. The AIM-quoted company also revealed that its net cash position had dropped from $142 million to $90 million during the six months to Dec. 31 following capital expenditure of $46 million.

Kevin Hart, chief executive of BowLeven, said:

The recent IM-5 results, which significantly exceeded our pre-drill expectations, have placed us in great stead to deliver the staged development of Etinde. The substantial uplift in both gas and liquids volumes ensures we can move forward with the development plan and gas sales agreement knowing we are underpinned by an extremely robust project. … We remain convinced that Bowleven is ideally positioned to become a major contributor to Cameroon‘s hydrocarbon production for years to come and we have the funding flexibility to deliver this potential.

The drilling results of IM-5, a well off the coast of Cameroon, were published earlier this month and showed the amount of “wet gas initially in place” rising 162% to 1.2 billion cubic feet.

The current share price values BowLeven at about 292 million pounds, which, given the group’s cash reserves, suggests that a fair amount of the market cap is based on the amount of gas that could be recoverable from the waters off Cameroon. Indeed, since its 2004 flotation, the company has never sold any gas (or oil), while some $780 million has been raised from shareholders and losses of $165 million have been accumulated. The balance sheet shows capitalized exploration expenditure of $479 million, too.

Still, BowLeven saw its shares surge from as low as 33 pence to as high as 390 pence during 2009 and 2010, while news of a bid during 2012 prompted a sudden 50% price spike. That sort of share price potential is always possible with resources shares such as BowLeven.

Anyway, if you already own BowLeven shares and are keen to earn handsome returns from other oil and gas explorers, this free Motley Fool report could help you on your way. “How To Unearth Great Oil & Gas Shares” explains the factors you need to consider — and the risks you might encounter — when evaluating smaller oil and gas explorers. Just click here to download the special oil and gas report today — before you hit the buy button!

The article BowLeven Reveals $9 Million First-Half Loss and $90 Million Net Cash originally appeared on Fool.com.

Business, Finance, Occupation & Industry

Ocado Group Surges 20% on Potential Deal With Wm. Morrison Supermarkets

March 14, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of Ocado surged 29 pence, or 20%, to 166 pence during early London trade this morning after the online grocery business revealed it was discussing an operating agreement with Wm. Morrison Supermarkets.

Ocado said the talks may lead to Morrisons paying for “certain… existing and future intellectual property and operating knowledge.”

Ocado added the negotiations did not involve any discussion of Morrisons acquiring either the whole of, or an equity stake in, Ocado.

The online grocer also claimed any deal with Morrisons would not affect its existing partnership with Waitrose.

Within its full-year results published today, Morrisons announced it would launch n online food delivery service during 2014. The supermarket said its decision to enter the online grocery market was not dependent on the outcome of the discussions with Ocado.

In a separate announcement this morning, Ocado said its gross sales had improved 14% to 185 million pounds during the 12 weeks to Feb. 24. The company reckoned average weekly orders had improved 12% to 130,995 and its average order size had gained 2% to 118 pounds.

Tim Steiner, Ocado’s chief executive, said: “We maintained the momentum in sales growth and new customer acquisition with which we entered the year. Further improvements to the proposition to customers that we are making this year should enhance our appeal to shoppers and enable us to continue this momentum.”

Today’s share-price move means Ocado’s market cap is now 1 billion pounds, which compares to pre-tax profits of just 2 million pounds announced in February.

Clearly the prospect of further growth — and perhaps a deal with Morrisons — is currently baked into Ocado’s present valuation.

But the share price has rallied 177% since mid-November, indicating the market is taking a shine to growth companies right now.

So if you already own Ocado shares and are looking for a different growth opportunity, this exclusive in-depth report reviews a solid alternative.

Indeed, the share in question has lifted its profits by 44% since 2009, owns subsidiaries that might contain considerable hidden value — and has just been declared “The Motley Fool’s Top Growth Stock For 2013.”

Just click here to download the report — it’s 100% free.

link

The article Ocado Group Surges 20% on Potential Deal With Wm. Morrison Supermarkets originally appeared on Fool.com.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

SOCO International Lifts Profits 134%

March 11, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of SOCO International climbed 8 pence to 385 pence during early London trade this morning after the company revealed its annual profits had advanced 134%.

The FTSE 250 oil group confirmed earnings had improved from $89 million to $207 million during 2012. The increase followed the company’s first full year of production at its main Te Giac Trang field in Vietnam. Revenue climbed 166% to $626 million while operating cash flow surged 271% to $335 million.

SOCO ended 2012 with net cash of $211 million, up from $114 million, despite spending $95 million buying out a minority interest and $33 million on share buybacks. The firm also claimed its cash pile had gained a further $61 million so far during 2013.

Ed Story, SOCO‘s chief executive, said:

“The financial and operating results for 2012 demonstrate the transformation of this Company. With the TGT field’s average gross production now over 50,000 barrels of oil a day, the record revenues, cash flow and profitability speak for themselves. Moreover, higher rates of production over continued sustained periods support our earlier views of the size of this major oilfield. Further, as we look forward into 2013, SOCO is now poised to take advantage of more substantial future growth opportunities.”

Story also expected SOCO to recommend a “sustainable return of capital” to shareholders during 2013, suggesting the firm may declare a long-awaited maiden dividend later this year.

Based on today’s results, SOCO‘s shares are valued at eight times profits adjusted for the group’s net cash pile.

Of course, whether the current 1.2 billion-pound market cap, the chances of a dividend, and the wider prospects of the oil sector all combine to make SOCO a buy remains your decision. But SOCO‘s long-term share-price performance — anyone buying at just 10 pence back in 1999 is now sitting on a 38-bagger — emphasizes the immense rewards from pinpointing major oil winners.

So if you are looking for the sector’s next multibagger, you may wish to consult this free Motley Fool report, which explains the factors you need to consider — and the risks you might encounter — when evaluating possible oil wonderstocks.

You never know — there could be another SOCO out there right now… ready to gush 38-fold. If such opportunities tempt you, please click here to read the Fool’s exclusive oil and gas report before you hit the buy button.

The article SOCO International Lifts Profits 134% originally appeared on Fool.com.

Maynard Paton owns shares of SOCO International. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Online Dating Boss Spends 1 Million Pounds on Unloved Shares

March 8, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of Cupid climbed 3 pence to 120 pence during early trading this morning after the company’s boss revealed he had invested 1 million pounds in his company.

Bill Dobbie, Cupid’s chief executive, said he had acquired 865,000 shares yesterday at 114.11 pence.

Dobbie added:

Following such a strong set of results, my commitment to, and confidence in the Cupid business remains as strong as ever. The business is built on solid foundations and we will continue to execute on our growth strategy. We have, and continue to make significant steps to achieve our objective of 1 million subscribers across 25 markets by 2017 and thereby doubling the size of the Company.

On Monday this week, Cupid’s 2012 results showed sales up 51% to 81 million pounds and underlying earnings before interest, tax, depreciation, and amortization up 45% to 16 million pounds.

The group also raised its dividend by 33% to 3 pence per share.

However, the shares have been blighted of late by allegations of fake users misleading customers.

Indeed, the price has collapsed 33% since the start of January and now trades at less than nine times 2012 earnings — a lowly rating, given the profit growth witnessed last year and the fact that sales since 2009 are up nearly tenfold.

Cupid made no mention of the allegations within its recent results, although the firm did say it would spend an additional 2 million pounds to “develop and enhance the quality of consumer experience.”

Dobbie’s 1 million pound share trade is likely to have been funded by two earlier sales. He raised 4.6 million pounds by selling shares at 110 pence during 2011 and collected a further 6 million pounds during 2012 by selling shares at 180 pence.

Of course, only you can decide whether Dobbie’s earlier disposals are more significant than yesterday’s purchase, and whether the company’s growth record and current valuation indicate a bargain.

However, if you already own Cupid shares and are looking for an investment that’s attracting less debate, then this free special report covers a tip-top growth opportunity with operations far removed from the online dating sector.

Indeed, the blue chip in question has lifted its earnings per share by 44% since 2009, owns subsidiaries that might carry considerable hidden value — and has just been declared “The Motley Fool’s Top Growth Stock For 2013.”

Just click here to download the report — it’s free.

link

The article Online Dating Boss Spends 1 Million Pounds on Unloved Shares originally appeared on Fool.com.

Business, Finance, Occupation & Industry

Mega-Miner Merger Delayed as Profits Slump at Glencore International and Xstrata

March 5, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — Shares of Glencore International gained 5 pence to 375 pence and the shares of Xstrata gained 20 pence to 1,120 pence during early London trading this morning despite both companies reporting reduced profits for 2012.

The FTSE 100 members, which agreed to merge last year, both suffered from declining commodity prices. Glencore recorded adjusted operating profits down 17% to $4.5 billion while Xstrata revealed adjusted operating profits down 43% to $4.8 billion. However, both firms managed to lift their dividends. Glencore raised its payout by 5% to $0.16 per share while Xstrata hoisted its payout by 14% to $0.40 per share.

Glencore also confirmed the completion of its merger with Xstrata would be delayed by another month. The merger had been expected to complete by the end of 2012, but protracted regulatory processes in South Africa and China have since pushed back the date to April 16. The merger was unveiled in February last year.

Ivan Glasenberg, Glencore’s chief executive, said:

2012 was a year of significant achievement for Glencore. Despite the challenging environment faced by the mining industry, Glencore delivered organic growth in its industrial businesses which complemented a robust performance in its marketing operations.

Mick Davies, chief executive of Xstrata, said:

Our businesses faced difficult operating conditions during the year, as the combined impact of falling commodity prices, ongoing inflationary pressure on operating costs and continued strong producer currencies relative to the U.S. dollar put pressure on our margins.

Based on today’s figures, both Glencore and Xstrata currently trade at about 13 or 14 times profits.

Of course, whether those P/E ratings, this morning’s results, the protracted merger process, and the general outlook for the mining sector all combine to make either Glencore or Xstrata a “buy” remains up to you. However, if you already own Glencore or Xstrata shares and are looking to diversify, this free special report covers a tip-top growth opportunity with operations far removed from the mining sector.

Indeed, the blue chip in question has lifted its earnings per share by 44% since 2009, owns subsidiaries that might carry considerable hidden value, and has just been declared “The Motley Fool’s Top Growth Stock for 2013.”

Just click here to download the report — it’s free.

link

The article Mega-Miner Merger Delayed as Profits Slump at Glencore International and Xstrata originally appeared on Fool.com.

Maynard Paton has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Intertek Lifts Profits by 19%

March 4, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of Intertek climbed 10 pence to 3,390 pence during early trade this morning after the FTSE 100 member lifted its annual profits by 19% to £335 million.

The profit jump accompanied full-year results that showed sales up 17% to £2.1 billion and a dividend raised 17% to 41 pence per share.

The improved performance was supported partly by acquisitions, notably the £450 million purchase of Moody International during 2011 and six smaller deals that totaled £40 million last year.

Excluding acquisitions, Intertek said underlying sales and profits advanced 9% and 11% respectively.

Intertek operates more than 1,000 laboratories around the world and tests items as diverse as car batteries, fire doors and children’s toys for quality and safety.

William Hauser, Intertek’s chief executive officer, said: “We are pleased to report another year of strong growth across our diverse geographic and industry portfolio as we continue our strategy of delivering global quality solutions. These results underline the resilient nature of the growth drivers in our chosen quality markets and our ability to capture growth and deliver value to shareholders through acquisitions and organic investment.”

Hauser also said the company ought to continue to deliver high single-digit organic revenue growth as well as further margin improvements.

Today’s results extended what has been a superb performance from Intertek during the banking crash and subsequent recession. Indeed, between 2007 and 2011, the group’s revenues surged 125% to £1.75 billion while adjusted operating profits soared 130% to £281 million.

Such progress has helped the shares deliver wonderful returns, with the price rising more than fourfold since their sub-700 pence lows of 2008.

Based on today’s results, Intertek is valued at 26 times profits and offers a 1.2% dividend yield.

Of course, whether you think that rating, today’s results, the track record and the general prospects for quality assurance testing all combine to make Intertek a buy remains up to you.

However, if you already own Intertek shares and are looking for a different growth opportunity, this exclusive in-depth report reviews a solid possibility within the FTSE 100.

Indeed, the blue chip in question has lifted its profits by 44% since 2009, owns subsidiaries that might contain considerable hidden value — and has just been declared “The Motley Fool’s Top Growth Stock for 2013.“

Just click here to download the report — it’s 100% free.

link

The article Intertek Lifts Profits by 19% originally appeared on Fool.com.

Business, Finance, Occupation & Industry

William Hill Announces Deal With Playtech for 424 Million Pounds

March 1, 2013 Bartle Doo Leave a comment

By Maynard Paton, The Motley Fool

Filed under: Investing

LONDON — The shares of William Hill climbed 19 pence, or 5%, to 423 pence during early London trading this morning after the bookmaker said it would pay 424 million pounds to Playtech for the latter’s 29% stake in William Hill Online.

William Hill said the deal would be funded mostly by a 375 million-pound fully underwritten rights issue and would give the company full ownership of the online sports-betting, casino, poker, and bingo service.

William Hill also claimed the purchase would provide the group with an opportunity to fully develop William Hill Online’s future growth potential by further enhancing its products and website.

Playtech’s shares fell 14 pence, or 2%, to 558 pence following the announcement.

Ralph Topping, William Hill‘s chief executive, said: “Having been advised of the valuation of Playtech’s 29% interest, the Board has concluded that it is in the best interests of our shareholders to exercise our call option to assume full ownership of this attractive, high growth, high performing business.”

Mor Weizer, Playtech’s chief executive, said: “William Hill Online has been an overwhelming success and has delivered a cash return to Playtech greater than 3.5 times its original investment, excluding software royalties in the four years since inception.”

William Hill Online was formed in Dec. 2008 when Playtech placed assets then worth 178 million euros into William Hill‘s existing interactive operations. By the end of 2012, Playtech’s total share of profits from William Hill Online, excluding software royalties, has been approximately 140 million euros.

Today’s deal with Playtech accompanied William Hill‘s full-year results, which showed sales up 12% to 1.3 billion pounds and profits up 22% to 293 million pounds.

William Hill also raised its annual dividend by 17% to 11.2 pence per share.

Based on today’s results, William Hill is valued at 14 times earnings and offers a possible 2.6% dividend income.

Of course, whether today’s deal and the general outlook for the online gambling industry all combine to make either William Hill or Playtech a buy remains your decision.

However, if you already own William Hill or Playtech shares and are looking for another attractive growth opportunity, this exclusive in-depth report reviews a solid possibility within the FTSE 100.

Indeed, the blue chip in question has lifted its profits by 44% since 2009, owns subsidiaries that might contain considerable hidden value, and has just been declared “The Motley Fool’s Top Growth Stock for 2013.”

Just click here to download the report — it’s 100% free.

link

The article William Hill Announces Deal With Playtech for 424 Million Pounds originally appeared on Fool.com.

Maynard Paton has no position in any of the stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Bartle Doo Article Archives

Tag Archives: Maynard Paton

Xcite Energy Limited Surges 12% After Claiming Bentley Field Could Hold 909 Million Barrels of Oil

SSE Fined £10.5 Million for Mis-Selling

BP's $8 Billion Buyback and 5% Yield

National Grid May Still Yield 5.6% After Revealing New Dividend Policy

TUI Travel Predicts Profit Growth to Approach 10%

Kazakhmys Slumps 10% After Reporting Annual Profits Down 67%

Afren Reports Earnings Up 95%

United Utilities Should Still Offer 4.8% Yield

BowLeven Reveals $9 Million First-Half Loss and $90 Million Net Cash

Ocado Group Surges 20% on Potential Deal With Wm. Morrison Supermarkets

SOCO International Lifts Profits 134%

Online Dating Boss Spends 1 Million Pounds on Unloved Shares

Mega-Miner Merger Delayed as Profits Slump at Glencore International and Xstrata

Intertek Lifts Profits by 19%

William Hill Announces Deal With Playtech for 424 Million Pounds

Articles Archive