LONDON (ShareCast) - Vitamins supplier NeutraHealth has received an unsolicited approach from Elder to boost its 21% stake to between 50-60%. The indicative partial offer price is at or around 5.5p per share.
Neutrahealth added that result of r 2008 are expected to show revenue of approximately £28.9m, EBITDA of £1.9m, before one off items, and net debt of £4.3million.
Property group IRP has promised to maintain its dividend at 7.2p this year despite a 31% fall in net asset value to 80.4p in the half year to December.
"The board is comfortable with the company's position relative to its banking covenants and with its level of income collection and is therefore happy to confirm that, in the absence of unforeseen circumstances, it intends to pay a further two dividends at this rate in respect of the current financial year," it said.
Regal Petroleum reports its Ukrainian well SV-58 spudded late yesterday while "excellent progress” continues on well MEX-106. Both MEX-106 and SV-58 are each expected to take approximately six months to complete. Regal added it has executed a mandate outlining indicative terms and conditions for the prospective provision of a loan facility for up to $100m by Macquarie.
Lupus Capital's results for 2008 will be satisfactory and in line with or exceed current average analysts' 2008 expectations. Lupus, which supplies locks, seals, hinges, handles, doors and balances, says predicting the 2009 outcome is difficult with its businesses both in the US and Europe facing unprecedented market conditions, which may continue to deteriorate for a while longer. Talks are underway with its banks to renegotiate debt facilities and banking covenants to more appropriate levels through 2009 and beyond.
Tobacco machinery maker Molins' 2008 profit rose to £8.6m (2007: £7.9m), though underlying operating profit was £4.4m (2007: £5.4m) and underlying earnings per share amounted to 16.1p (2007: 18.0p). The dividend is reduced to 5p from 7p.
"Sales in the year increased to £91.5m (2007: £89.3m) but as Molins continues to undertake change this increase was not reflected in the underlying operating profit,” it said.
Email this article to a friend
or share it with one of these popular networks: