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Etalon Group announces proposed placing of about 36.9 mln GDRs

Wednesday, 24 May 2017 10:48am EDT

May 24 (Reuters) - Etalon Group Ltd ::Proposed placing of approximately 36.9 million global depositary receipts (GDRS) in Etalon Group Public Company Limited.Goldman Sachs International and J.P. Morgan Securities Plc are acting as joint global coordinators and bookrunners for placing.Each GDR represents an interest in one ordinary share of gbp 0.00005 in share capital of co.Selling shareholders to sell about 36.9 million GDRS of company.

Countryside Properties HY adjusted revenue 435.4 mln STG versus 312.8 mln STG year ago

Wednesday, 17 May 2017 02:08am EDT

May 17 (Reuters) - Countryside Properties Plc :Hy adjusted revenue £435.4m versus £312.8m year ago.Hy adjusted operating profit £70.4m versus £50.8m year ago.Hy completions 1,437 units versus 1,095 units year ago.Hy net reservation rate of 0.89 from 48 sales outlets.Hy 2017 net debt 35.0 million stg.Trading in first half ahead of expectations with good momentum into second half.Expect profit to be ahead of market expectations for second half.Upgrading FY18 completion targets by 10 per cent in housebuilding division.Group HY private forward order book of 347.1 million stg, up 69%.Board has recommended an interim dividend of 3.4 pence per share, payable on 7 july 2017.

UK builder Crest Nicholson says on track for sales, revenue growth

Tuesday, 16 May 2017 02:05am EDT

May 16 (Reuters) - Crest Nicholson Holdings Plc :Trading continues to be in line with expectations and group remains on track to deliver growth in unit sales and c. 10% in revenues for full year to 31 october 2017..As expected, unit completions for first half of 2017 financial year at 1,064 (2016: 1,206) are lower than comparative period in 2016, primarily due to a reduced first half weighting from timing of prs completions.At end of april, forward sales for 2017 year including year to date completions are 5% ahead of same period last year..Forward sales have been supported by an increase in outlet numbers which averaged 49 for first half of 2017 (2016: 44) an increase of 11%..Business has taken first steps to establish a new division in midlands, is building momentum in forward sales for year and pursuing disciplined expansion of group's land pipeline for future..Housing market continues to be robust across group's principal operating areas..Addressing production capacity, clearance of planning conditions and shortage of skilled labour continue to be key areas of focus for sector in terms of securing volume delivery and growth..Against this market backdrop board remains confident that business is well positioned to continue to deliver a strong operational and financial performance in medium term..Sales per outlet week, excluding prs, averaged 0.81 (2016: 0.87) which is in line with average sales rate achieved through whole of 2016..

Royal China International enters into agreement relating to sale and purchase of membership.

Tuesday, 9 May 2017 10:16am EDT

May 9 (Reuters) - Royal China International Holdings Limited <1683.HK>:Vendor and purchaser entered into agreement relating to sale and purchase of membership..Consideration of HK$10 million shall be paid in cash by purchaser.Parties are Asian Pacific Capital Company Limited as vendor and Right Power Ventures Limited as purchaser.Board has decided to explore business opportunities in aviation and traveling business and financing services.Group has negotiated with certain potential customers for business jet management and aircraft leasing.It is expected that uncertainty in hong kong property development industry is detrimental to demand for group's services from property developers.

Shenzhen Qixin Construction Group sees H1 FY 2017 net profit down 20 pct to up 20 pct

Thursday, 27 Apr 2017 04:37am EDT

April 27(Reuters) - Shenzhen Qixin Construction Group Co Ltd <002781.SZ> ::* Sees H1 FY 2017 net profit to decrease by 20 percent to increase by 20 percent, or to be 48.3 million yuan to 72.5 million yuan.* Says H1 FY 2016 net profit was 60.4 million yuan.* The reasons for the forecast are expanded business and gains from accounts receivable.

Long Yuan Construction sees Q1 FY 2017 net profit up 70 pct to 80 pct

Friday, 21 Apr 2017 03:26am EDT

April 21(Reuters) - Long Yuan Construction Group Co Ltd <600491.SS> ::* Sees Q1 FY 2017 net profit to increase by 70 percent to 80 percent.* Says Q1 FY 2016 net profit was 68.9 million yuan.* The reason for the forecast is contribution from PPP business .

Century Communities and UCP agree to business combination

Tuesday, 11 Apr 2017 07:30am EDT

Century Communities Inc : Century Communities and UCP agree to business combination . Combined company will have an equity market capitalization of over $700 million and an enterprise value of over $1.3 billion . Century Communities - in merger, each share of UCP common stock will be converted into right to receive $5.32 in cash, 0.2309 of newly issued share of century common stock . Combined company will own or control approximately 25,000 lots and will have a backlog in excess $450 million . Century Communities - merger expected to be accretive to company's 2018 EPS as result of revenue and cost synergies and economies of scale . Transaction has been unanimously approved by board of directors of both Century and UCP . Century Communities - will fund cash portion of merger with available borrowing capacity under its $400 million senior unsecured credit facility .J.P. Morgan Securities Llc served as financial advisor to Century; Citi acted as financial advisor for UCP.

Century Communities and UCP agree to business combination

Tuesday, 11 Apr 2017 07:30am EDT

Century Communities Inc : Century Communities and UCP agree to business combination . Combined company will have an equity market capitalization of over $700 million and an enterprise value of over $1.3 billion . Century Communities - in merger, each share of UCP common stock will be converted into right to receive $5.32 in cash, 0.2309 of newly issued share of century common stock . Combined company will own or control approximately 25,000 lots and will have a backlog in excess $450 million . Century Communities - merger expected to be accretive to company's 2018 EPS as result of revenue and cost synergies and economies of scale . Transaction has been unanimously approved by board of directors of both Century and UCP . Century Communities - will fund cash portion of merger with available borrowing capacity under its $400 million senior unsecured credit facility .J.P. Morgan Securities Llc served as financial advisor to Century; Citi acted as financial advisor for UCP.

Bovis appoints new CEO, says Galliford bid failed to reflect value of firm

Wednesday, 5 Apr 2017 02:01am EDT

Bovis Homes Group Plc : Board of bovis is pleased to announce appointment of greg fitzgerald as its new chief executive. . Greg fitzgerald is former chief executive and chairman of galliford, where he spent over 30 years of his career. . Notes announcement by galliford this morning withdrawing its merger proposal . Greg fitzgerald's appointment as chief executive will take place with effect from 18 april 2017. . Earl sibley will resume his role as group finance director. . Current sales and reservations are in line with board's expectations and we are making good progress with our priorities for 2017. . Has reviewed merger proposal and concluded that it failed to reflect underlying value of bovis business . In 2017 group is focused on re-setting business and driving operational improvements through cost efficiencies, more effective build processes and improvements in quality. . We aim to replenish our land bank during 2017 and thereafter maintain an underlying 4 year consented land bank. . Accordingly, board has decided to reject proposal as it believes that an independent strategy under leadership of greg fitzgerald will deliver greater value for shareholders . Overall, good progress has been made with our review of our strategy and structure which we announced in february..

AST Groupe FY net income up at 4.1 million euros

Tuesday, 28 Mar 2017 12:37pm EDT

AST Groupe SA : FY net income 4.1 million euros ($4.44 million) versus 1.7 million euros year ago . FY operating income 7.8 million euros versus 3.0 million euros year ago .Anticipating a growth of more than 20% in its business for FY 2017, together with a further improvement in its profitability.

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