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STOCKS NEWS EUROPE-MBL Group rises on strong results

Thu Jul 9, 2009 9:03am EDT

Stocks

   

Shares in MBL Group Plc (MUBL.L), a distributor of home entertainment products, surge 22 percent after it posts strong full-year results, helped by the collapse of its key competitor in November.

Seymour Pierce analyst Freddie George says: "Even after we have raised our 2008/09 forecasts twice in the last six months, the company has impressively come in ahead of our revised projections."

"It benefited from EUK, part of Woolworths, being placed into administration in November 2008 leaving several key food retail multiples and retailers without supply," says George, who reiterates his "buy" rating on the stock.

To see MBL's statement, please click on [ID:nRnsI3695V]

Reuters messaging rm://purwa.naveen.reuters.com@reuters.net


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