Updates from Rank Group and Derwent London

German economy dips 0.2% in the last quarter. Meanwhile G4S shares surge more than 5%

Updated: 
stock market FTSE 100 cash savings retirementA small bump for the FTSE 100 on Wednesday, lifting 24.2 points, or 0.37%, to 6,656.6. G4S saw shares surge 5.27% forward to 273.50p thanks to better six month profits; house builder Barratt climbed 2.81% to 350.80p. On the other hand, investors were much less impressed with an update from Admiral, with shares sinking 5.45% to 1371p.

The Dow Jones also put on weight, up 91 points to 16,651.8 though the index weight gain overall on the week so far is 97.8 points.

First off this morning, Carillion. First-half revenues come in 5% lower at £1,871m compared to £1,964.6m this time last year. However underlying operating margin is upped 5.5% (2013: 5.1%); underlying profit before tax climbs 3% to £75.9 million.

Underlying earnings per share is maintained at 14.7 pence. Carillion claims strong cash flow with underlying operating cash conversion of 127% (2013: 5%); it also reiterates £3.2 billion of new orders "and probable orders" in the first half.

"The Group is well positioned...from its high-quality pipeline of contract opportunities," says chairman Philip Green, "across our target markets. Consequently, the Board's expectations for 2014 remain unchanged and we expect to make further progress in the medium term."

Next, property operator Derwent London. EPRA profit before tax for the six months to 30 June climbs to £32.0m, an increase of 14.3% from £28.0m in June 2013. EPRA earnings per share were 29.15p, an increase of 12.3% from 25.95p in June 2013.

Meanwhile the dividend climbs 8.4% to 11.65p. Rents on H1 lettings are 8.6% above December 2013 ERV, with open market lettings 17.3% above says Derwent.

"London continues to attract the most innovative businesses and global capital flows," says chairman Robert Rayne. "The Group is well positioned to benefit from this through its West End focus and its developments in the Tech Belt and near Crossrail stations."

Lastly, Electra Private Equity investment trust. Diluted NAV per share is down 0.1% to 2,910p though the share price is up 3% against a 2% total return for the FTSE All-Share Index. Its share price is up 21% on the year to 30 June 2014 against a total return of 13% for the FTSE All-Share Index, Electra claims.

It claims £124 million invested, including £81 million in Ogier Fiduciary Services and £33 million in Innovia Group with £47 million realised (inclusive of income).

"Electra Partners...has completed a number of attractive investments in the period," says chairman Roger Yates. "Electra is very well positioned to continue its record of delivering consistently superior long-term returns for its shareholders."

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