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Morning eyecatchers: PartyGaming H1 profit down 6.8%, no dividend

by Phil Cozens on Aug 28, 2009 at 08:06

 * Stagecoach Group sees trading in line with views; 12-week UK rail comparable revenue is up 0.9%; 12-week North American comparable revenue is down 5.8%; Virgin Rail Grip’s comparable revenue is up 1.7%; trading conditions remain challenging; continues to take action to control costs.

 * PartyGaming’s first-half revenue is $201.3 million vs $254.8 million; ebitda is $60 million vs $60.9 million; eps is 9.6 cents vs same; post-tax loss is $66.9 million vs profit $22.7 million; trading since 30 June is in line with management views; average daily revenue is up 17% owing to casino; four deals will contribute to fourth-quarter results; continues to make good progress; three-year strategy on track; confident for prospects for the full year; Italy will develop into an important market for the group; 380,000 new Real Money players sign up, up 17% on year; no interim dividend; four weeks ended 18 August average daily revenue is $1.9 million; average daily revenue is up 26% on July, up 32% on first quarter; operating profit is $36.8 million vs $27.8 million; considers more acquisitions; no current plans for capital raising.

 * Aegis’ first-half revenue is £636.7 million vs £607.6 million; pre-tax profit is £6.6 million vs £47.4 million; turnover is £4.780 billion vs £5.332 billion; loss per share is 0.2p vs eps 2.6p; pre-items pre-tax is £43.5 million vs £56.2 million; underlying operating profit is £51.1 million; financial position remains strong; cost actions significantly mitigated revenue falls; covenant position remains strong; interim dividend held at 0.96p; sees full-year profit in line with current market consensus.

 * Independent News & Media’s first-half revenue is €608.8 million vs €708.4 million; adjusted operating profit is €73.2 million vs €153.8 million; total advertising revenue is down 19.6%; continues to hold talks with bondholders; net debt at 30 June was €1,338.6 million; no interim dividend; full-year operating profit is at the lower end of €180-€210 million range; pre-items, pre-tax profit is €383.3 million vs €115.6 million; first-half pre-tax loss is €48.5 million vs profit €96.6 million; loss per share is 6.4 cents vs eps 6 cents.

 * Johnston Press secures a £485 million facility as first-half losses widen.

 * Dana Petroleum’s first-half pre-tax profit is £21.9 million vs £133.1 million.

 * Molins’ first-half pre-tax profit is down 71%; sees 2009 sales lower on year.

 * SVG Capital’s first-half loss is £120.9 million; tough trading to remain.

 * Davis Service Group’s first-half pre-tax profit is down, but weak pound helps revenue.

 * Chesnara raises dividend as first-half profit rises 12%; considers acquisitions.

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