Updates from 888, BMI and Hochschild

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The FTSE 100 pushed forward 41 points yesterday to 6,549.1. Rio Tinto saw the biggest rise, up +4.25% to 3215p with Petrofac behind, up +3.68% to 1410p. Burberry was the biggest faller, down -7.63% to 1464p as investors took in new numbers and a CEO exit.

Across the pond, the Dow Jones slipped 133 points to 15,168 as debt talks faltered, yet again.
We commence with an interim from engineering group IMI, from 1 July to 15 October. Trading is in line with management expectations claims IMI; on an organic basis, revenues for the three months to the end of September power +3% ahead of last year but are -1% lower year to date.

Its Fluid Power arm has returned to growth in the third quarter, with revenues for the three months to the end of September up +2% on an organic basis says IMI. IMI shares have soared more than +60% in the last year.

"In the preliminary results in March," says IMI, "the Group announced a share buyback programme of up to £175m with the aim of maintaining balance sheet efficiency. As at the 15 October 2013, the Group had spent £85m on the repurchase of shares."

Next, a Q3 update from gambling player 888. Group revenue arrives at US$94 million (Q3 2012: US$92 million), an increase of +2% year on year. Trading is in line with original expectations and 888 says it remains confident in the full-year numbers.

The number of active customers B2C Casino and Poker come in at 498,000 (Q3 2012: 454,000), a +10% increase year on year. Revenue B2C Casino was US$45 million (Q3 2012: US$38 million), an increase of +19% year on year.

"I am pleased to report another strong performance with Group revenues up year on year primarily driven by Casino," says chief exec Brian Mattingley. "We continue to build customer numbers and take market share, reflecting our strong product offer, excellent platforms and marketing systems."

Lastly, a production update from Hochshild Mining. There's Q3 2013 attributable production of 5.4 million silver equivalent ounces and the company says it's on track to achieve 2013 attributable production target of 20.0 million silver equivalent ounces.

Meanwhile the company claims a net cash consideration of $271 million. It says its cashflow optimisation efforts continues to deliver expense savings; recently the Inmaculada mill construction permit was approved by Peruvian government.

"We have had," says chief exec Ignacio Bustamante, "an exciting quarter with the Inmaculada Advanced Project receiving its mill construction permit, as expected, as well as the recent announcement of our proposed buyout of the International Minerals minorities in Peru."