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UPS Upstream

1.625
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Upstream LSE:UPS London Ordinary Share KYG7393S1012 ORD 0.25P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.625 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Upstream Share Discussion Threads

Showing 5401 to 5415 of 5425 messages
Chat Pages: 217  216  215  214  213  212  211  210  209  208  207  206  Older
DateSubjectAuthorDiscuss
22/4/2024
14:31
Hornby shares fall as trouble in Red Sea hampers fourth quarter sales
Hornby shares fell 12% to 33.50 pence each in London on Monday afternoon.

(Alliance News) - Hornby PLC on Monday said its pretax loss widened in the second half of the year despite the company identifying a change in trajectory.

The Margate, England-based scale model railway manufacturer said sales for the year ended March 31 grew 2.0% to GBP56.2 million from GBP55.1 million last year.

Whilst the company's direct-to-consumer sales increased by 18% over the year, during the fourth quarter sales declined 8% year on year as ongoing hostilities in the Red Sea delayed deliveries.

The company said its loss before tax has widened since the half-year point, although this represents an improvement in second half profitability compared with the previous year.

This occurred despite the company facing increased costs from tooling amortisation and higher interest rate charges on borrowings.

Hornby's net debt position has increased to GBP14.3 million at the end of the year from GBP5.5 million, largely as a result of trading loss and capital expenditure.

Preliminary results for the year ended March 31 will be announced in June on a date yet to be confirmed.

master rsi
22/4/2024
12:15
How the UPS are performing today
master rsi
22/4/2024
11:17
Virgin Money reports trading remains in line amid Nationwide takeover
(Alliance News) - Virgin Money UK PLC on Monday said trading in the second quarter of 2024 to date has remained broadly in line with expectations.

In March, the Leeds-based lender accepted a takeover approach from Nationwide Building Society, a deal which will create "the second largest provider of mortgages and savings in the UK".

Nationwide will pay 220 pence per share, comprising 218p and a 2p dividend, and equating to a total valuation for Virgin Money of GBP2.9 billion.

Shares in Virgin Money rose 0.1% to 214.40p each in London on Monday.

Virgin Money and Nationwide said the scheme document, by which the deal will be facilitated, and assorted forms relating to the takeover have been sent to shareholders Monday.

This included the trading update from Virgin Money.

Virgin Money said over the the first half of 2024, it had delivered continued growth in relationship deposits and target lending segments, whilst maintaining a broadly stable margin, with ongoing cost efficiencies mitigating inflation.

Net interest margin continued to be resilient, despite competition and the interest rate backdrop, supported by ongoing effective interest rate outperformance in the credit cards portfolio.

Costs in the second quarter reflected the timing of annual wage rises and the new bank levy in the quarter, it said.

Asset quality trends remain broadly consistent with that seen in the first quarter, Virgin Money noted.

Virgin Money said it had maintained a robust liquidity and funding position, with a strong capital position which, relative to the first quarter, benefited from the cancellation of the share buyback programme.

Lower interest rates and competitive market dynamics are expected to be a headwind to net interest margin for the rest of the year, offset by reinvestment of the structural hedge, growth in target segments and ongoing credit cards effective interest rate outperformance.

The impact of persistent inflation and ongoing investment are expected to be headwinds to cost performance, partially mitigated by Virgin Money's existing cost saving programme, it commented.

Interim results are expected to be released on June 13 with an unaudited trading update on first half performance on May 14.

A court meeting, and general meeting, of shareholders will be held on May 22 to approve the scheme of arrangement by which takeover by Nationwide will be facilitated, Virgin Money stated.

master rsi
22/4/2024
10:17
South32 copper output down 15% in 3rd quarter; keeps outlook
(Alliance News) - South32 Ltd on Monday reported a mixed production performance for the third quarter, with copper output down sharply, but kept its annual production guidance unchanged, with the exception of estimate for Australian manganese.

The Perth-based miner said copper production declined 15% to 45,500 tonnes in the nine months that ended March 31 from 53,400 tonnes a year earlier. Output fell by 10% to 13,900 tonnes in the third quarter from 15,500 tonnes in the same quarter a year before and by 11% from 15,600 tonnes in the second quarter.

Aluminium production for the nine-month period edged up 0.7% to 853,000 tonnes from 847,000 tonnes, as Hillside Aluminium achieved record production and Brazil Aluminium continued to ramp up toward nameplate capacity. Output inched down 0.4% to 278,000 tonnes on-year from 279,000 tonnes and was down 3.1% from 287,000 tonnes in the previous quarter.

Year-to-date, alumina production slipped 1.0% to 3.81 million tonnes from 3.85 million tonnes, as South32 completed planned calciner maintenance at Worsley Alumina, while Brazil Alumina remained on track to achieve production guidance. For the third quarter alone, production was up 0.1% to 1.24 million tonnes annually from 1.23 million tonnes. But quarter-on-quarter output was down 3.4% from 1.28 million tonnes.

For nine months, zinc production was 0.7% higher at 43,300 tonnes from 43,000 tonnes. Output rose 13% to 14,300 tonnes in the third quarter from 12,600 tonnes a year before, but was down 9.5% from 15,800 tonnes in the second quarter.

Lead production for nine months grew 14% to 83,600 tonnes from 73,400 tonnes. For the third quarter, output rose 18% to 24,800 tonnes annually from 21,000 million tonnes, but it fell 18% quarterly from 30,300 tonnes.

Silver production increased 21% to 10,049 ounces year-to-date from 8,291 ounces a year before. Production rose 23% to 3,050 ounces year-on-year in the third quarter from 2,479 ounces, but dropped 16% from 3,624 ounces quarterly.

Nine-month nickel production fell 4.9% to 29,100 tonnes from 30,600 tonnes. Third-quarter output rose by 5.9% to 10,800 tonnes on-year from 10,200 tonnes and by 8.0% from 10,000 tonnes on-quarter.

Coal production declined 24% to 3.0 million tonnes for the nine-months from 3.9 million tonnes a year before. Output for the third quarter was up 0.3% to 1.244 million tonnes from 1.240 million tonnes a year before and surged 67% from 744,000 tonnes in the second quarter.

Manganese production declined 5.5% to 3.96 million wet tonnes for nine months from 4.19 million wet tonnes a year before. For the third quarter, output fell 6.8% to 1.17 million wet tonnes annually from 1.26 million wet tonnes, and was down 7.6% from 1.27 million wet tonnes on-quarter.

South32 withdrew its annual production guidance for its manganese business Groote Eylandt Mining Co Pty Ltd, which remained temporarily suspended due to Tropical Cyclone Megan.

But the miner otherwise kept its annual production guidance for 2024 financial year unchanged.

South32 Chief Executive Officer Graham Kerr said the latest quarterly performance represented "improved operating results".

"With the exception of Australia Manganese, our FY24 production and operating unit cost guidance is unchanged, placing us in a strong position to capitalise on strengthening market conditions for many of our key commodities," he said.

South32 shares up 3.7% to 174.60 pence early Monday in London. They were up 1.5% to ZAR40.90 in Johannesburg.

master rsi
22/4/2024
09:35
BITCOIN/ BTC $66.136 +1,316

Is continuing with the bounce back since last week

master rsi
22/4/2024
09:05
Eyes on EST for an imminent JORC
thelung
22/4/2024
08:35
FTSE

Opens well up with 94 points higher

master rsi
22/4/2024
07:20
KAVANGO RESOURCES PLC / LSE:KAV

ZIM: Hillside Exploration & Production Update

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce an exploration and production update for the Hillside Gold Project ("Hillside") in Zimbabwe.

Highlights

· Upgrade of exploration target at Prospect 4:

o Up to five potentially mineralised shear zones identified from an Induced Polarisation ("IP") survey, over a 700m width and currently mapped 500m strike.

o Two of the zones identified from the IP survey appear to coincide with a series of parallel artisanal workings.

o Three additional shear zones have been interpreted under slightly thicker cover and remain undiscovered by the artisanal miners with no indications of historic workings.

o Kavango to drill a fence of six holes to test potential for a bulk-minable gold deposit at Prospect 4.

· Final refined gold production at Hillside in March was 899.6g of gold.

o Kavango Mining anticipates significant increase in production, as it commences direct mining.

Ben Turney, Chief Executive of Kavango Resources, commented:

"We are looking forward to testing the bulk-minable gold potential at Prospect 4. The possible presence of four parallel, gold-bearing shear zones makes this an increasingly attractive exploration target.

We were originally looking for an additional high-grade ore source for production at Hillside. Hole SKDD001 was designed simply to test underneath current artisanal gold mining. We initiated the IP survey after the hole was completed.

In terms of the original goal, Hole SKDD001 has been a significant success. Our team saw the opportunity and moved quickly to test it. We are confident in the commercial potential of Prospect 4 to make a meaningful contribution to Kavango Mining. The high-grade upper intersection in Hole SKDD001 represents a near-term, minable opportunity well within trucking distance of the Hillside stamp mills. Kavango Mining is currently developing a work plan to pursue this.

However, it is the presence of the smaller, low-grade lower intersection in the same hole that our exploration team is now pursuing. Hole SKDD001 appears to have clipped a second shear zone, as indicated by results from the IP survey.

We now plan to return to Prospect 4 and drill a fence line of holes to test the IP anomalies and additional parallel artisanal mine workings we have identified. If these prove to be wide gold-bearing shear zones, Prospect 4 could represent an unanticipated bulk-minable opportunity.

We are currently drilling at the Nara Project and will mobilise the rig immediately back to Hillside on completion there.

In the meantime, I am very pleased to report that Kavango Mining was operationally profitable in March, its first month of trading. We produced 899g of gold. Our original goal was to reach 1kg of production over the course of 2024, so we are well ahead of schedule.

We now anticipate Kavango Mining is on course to be a consistently profitable business unit over 2024. We have a strong foundation to build on, as we increase direct production, open new sources of ore and invest in production capacity at Hillside. We look forward to providing further updates on our progress."

apotheki
21/4/2024
22:39
Sunday newspaper round-up: IDS, Ocado, Foxtons

(Sharecast News) - Asset manager Redwheel told regulators they should reduce the UK postal service's legal obligations. The move followed a failed buyout attempt by Daniel Kretinsky for International Distributions Services, its parent company. The billionaire investor was said to be evaluating a possible improved bid. The company meanwhile has petitioned Ofcom to let it cut the number of days per week during which it must deliver second-class mail from six to two or three. That would save the company £300m and see it shrink its workforce by 1,000. According to Redwheel, as first reported by the Sunday Times, the enforced costs of its legal obligations left the company "vulnerable to corporate predators". - Guardian

Ocado's shareholders are pushing the company to study the possibility of a New York listing as opposed to that in London. Indeed, the idea was discussed in detail with shareholders in recent weeks. Those discussions follow the 90% drop in the company's share price from its peak hit during lockdown. At one point, Ocado's market value had overtaken those of Sainsbury's, Marks & Spencer and Morrison's combined. - The Sunday Telegraph

Foxtons has brought on NM Rothschild as advisers following pressure from some large shareholders for the company to delist and pursue a sale. But other big investors believe that the outfit is on the mend under its new boss, Guy Gittins, who was chosen in 2022. Michael Rapps from Converium Capital thinks Foxtons could fetch between 70p or £1 a share if sold. Among the potential buyers are Platinum Equity, Oakley Capital and European private equity outfit Emeria. - The Sunday Times

888, the owner of William Hill, has put aside over £100m to cover possible legal action overseas. A court in Austria has ruled that any companies doing business in the country have broken the law and must return players' losses. That is because Casinos Austria, which is backed by the state, has had a monopoly on gambling in Austria since 2016. Hence, some gamblers in Europe had moved to recover their losses. 888 however said that its "extensive" legal advice and opinion received left it "absolutely confident" of its legal and regulatory position. - Financial Mail on Sunday

master rsi
21/4/2024
22:11
UK manufacturers missing out on investment potential - research

(Alliance News) - Manufacturers are missing out on billions of investment potential as economic and political uncertainty as well as increased costs remain barriers to accessing finance, according to a report.

Make UK said its research suggested that one in four manufacturing firms would increase their investment if access to finance was improved.

Access to finance will be critical for investment plans in the next two years in critical categories such as capital equipment, automation, energy efficiency and cybersecurity, said the report.

More than half of 100 companies surveyed said they were unaware of the range of public sources of finance and government schemes tailored towards manufacturers.

Fhaheen Khan of Make UK, said: "Access to finance is like fuel for manufacturers. Without it many manufacturers would be unable to make the continuous investments in capacity and innovation which are so essential in such a dynamic sector with an ever-changing external environment.

"However, there is currently significant investment which is lying untapped due to a lack of awareness among companies of the private and public options available to them. If we can unlock the options that finance provides, then it will produce significant potential for manufacturers."

Make UK estimated that manufacturers were missing out on up to GBP10 billion of investment potential.

master rsi
21/4/2024
21:48
SUNDAY PAPERS

Share tips, comment and bids

The Sunday Times (Share tip): Costain is building itself up again.

The Sunday Telegraph: Unilever could be forced to hold onto a multi-billion pound slice of its ice cream empire, according to senior City sources, as the sheer size of the operations make it difficult to find a buyer.

The Sunday Times: Norges, Norway’s £1.3tn sovereign wealth fund, is in advanced talks to buy out British Land’s 50% share of Meadowhall for about £363m, including debt.
The Sunday Telegraph (Comment): Why Joe Biden’s real enemy is the price of oil.

The Sunday Times (Comment): How EY’s failed break-up caused a year of resentment.

master rsi
21/4/2024
21:21
SUNDAY PAPERS

Business and economics

The Observer: Jeremy Hunt is reportedly considering stamp duty and national insurance cuts before the next general election.

The Observer: Taylor Swift’s new album, The Tortured Poets Department, has broken the record for Spotify’s most-streamed in a day, the music platform said.

The Sunday Telegraph: Asda’s billionaire bosses forged ahead with a botched IT transition despite being warned in advance that thousands of workers would be paid incorrectly.

Mail on Sunday: Controversial tax rebate agent Brooksdale has entered liquidation, leaving customers of the firm questioning whether they will receive money claimed on their behalf.

The Sunday Telegraph: Thames Water and a group of lenders to its parent company have drafted in lawyers amid a brewing fallout over the troubled supplier’s future.

The Sunday Times: Amid surging demand among British drinkers for Spanish lager, the family-owned Estrella Damm is investing €60m in building a state-of-the-art brewery in Bedford.

The Sunday Times: Heathrow airport handed its outgoing chief executive a record £6.4m payday despite nearly two in five planes failing to depart on time.

The Sunday Times: Universal Music Group boss Lucian Grainge, the Londoner who worked his way up to the top of the global entertainment industry, landed a pay package of €139m last year.

Mail on Sunday: The Government should stage an inheritance tax raid on unspent pension pots and close other loopholes, says leading think tank the Institute for Fiscal Studies.

The Observer: The House of Representatives voted 360 to 58 on the updated divest-or-ban bill that could lead to the first time ever that the US government has passed a law to shut down an entire social media platform.

The Observer: Volkswagen workers at the carmaker’s Chattanooga plant in Tennessee have voted to unionize with the United Auto Workers, a historic victory for the union and the labour movement’s efforts to expand to the southern US.

The Sunday Times: Neil Woodford, the fund manager who presided over one of Britain’s worst investment scandals, is reinventing himself as an economic commentator and began by pointing to ‘many reasons to be cheerful’ about the country’s prospects.

The Sunday Times: The Azure division of the tech colossus Microsoft handles the digital lives of more than a billion people, but a breach by people linked to the Chinese government has put it in the line of fire.

master rsi
21/4/2024
20:57
SUNDAY PAPERS

Top stories

The Sunday Telegraph: Ocado is under pressure from shareholders to consider abandoning London for New York, threatening another severe blow to the beleaguered UK stock market.

The Sunday Times: Redwheel, Royal Mail’s second-biggest independent shareholder, has publicly backed the board for rejecting the ‘corporate predator’ Daniel Kretinsky’s audacious swoop.

master rsi
21/4/2024
07:36
You put your heart and soul into this Master lad .
Did you draw lots of road maps when a youngster ?

seedoftongo
20/4/2024
22:48
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BCE
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master rsi
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