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DividendMax Limited
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DividendMax Limited
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DividendMax Limited
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DividendMax Limited
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DividendMax Limited
4Q and Full Year Highlights * 4Q net revenue yields in constant dollars decreased 4.5% compared to the prior year, which was better than the company's September guidance, down 5 to 6% * 4Q net cruise costs, excluding fuel, per available lower berth day ("ALBD") decreased 0.9% in constant dollar, less than September guidance, down 2 to 3% * 4Q non-GAAP earnings per share (diluted) of $0.13, compared to $0.28 for the prior year * Full year non-GAAP earnings per share (diluted) of $1.88, compared to $2.42 for the prior year * Unfavorable changes in fuel prices and currency exchange rates reduced full year 2012 earnings by $300 million or $0.39 per share, compared to the prior year.2013 Outlook * Since September, booking volumes for the first three quarters, including Costa, are running in line with the strong volumes experienced last year at slightly lower prices * At this time, cumulative advance bookings for 2013 continue to be behind the prior year at slightly lower prices * Net revenue yields on a constant dollar basis for full year 2013 expected to be up 1 to 2% * Net cruise costs excluding fuel per ALBD for full year 2013 expected to be up 1 to 2% on a constant dollar basis * Full year 2013 non-GAAP earnings per share (diluted) expected to be in the range of $2.20 to $2.40, compared to $1.88 for 2012 * 1Q 2013 non-GAAP earnings per share (diluted) expected to be in the range of $0.03 to $0.07, compared to $0.02 in 1Q 2012Chairman and Chief Executive Officer Micky Arison commenting on these results:"As a result of the Costa Concordia tragedy in January, the past year has been the most challenging in our company's history. However, through the significant efforts of our brand management teams, we were able to maintain full year 2012 net revenue yields (excluding Costa)in line with the prior year. In addition, we drove down net cruise costs, excluding fuel,slightly and fuel consumption by four percent.""Cash from operations of $3.0 billion was more than sufficient to fund $1.8 billion in net capital investments and positioned the company with excess free cash flow to return to shareholders. Our regular quarterly dividend of $0.25 per share, combined with our recently announced special year-end dividend of $0.50 per share, will result in $1.2 billion of dividend distributions to our shareholders. Additionally, since the start of the fiscal year we purchased 3.5 million of the company's shares in the open market at a cost of $120 million.""We remain well positioned for a recovery in 2013 and beyond evidenced by the demonstrated resilience of our global portfolio of cruise brands, as consumers continue to capitalize on cruising's superior value versus land-based vacation alternatives. We continue to focus on a measured growth strategy through the introduction of two to three new ships per year and the development of emerging cruise markets in Asia.""Based on 2013 guidance, we estimate that cash from operations will reach $3.3 billion for the year while our capital commitments will be just $2.0 billion. As a result, we anticipate significant free cash flow in 2013, which we intend to continue to return to shareholders."
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Pre-close trading updateJohn Wood Group PLC ("Wood Group") issues the following pre-close trading update for the year to 31 December 2012. Full year results will be announced on 5 March 2013.Overall, conditions in energy markets remain favourable. The Group expects to deliver good growth for the year in line with expectations.Our Engineering division is performing well and continues to anticipate that 2012 EBITA will be up over 30%. Headcount was 10,300 at the end of November. In upstream, work is progressing on the Ichthys and Mafumeira Sul projects in Australia and Angola respectively, and we remain active on a number of offshore projects in the Gulf of Mexico including Hadrian and Lucius. In the Canadian oil sands market we anticipate some reduction in activity in 2013. In subsea and pipelines, we are particularly active in the North Sea and the North West Shelf of Australia, and continue to see good activity levels in onshore pipelines in North America. In downstream, the market outlook remains generally subdued, albeit we have seen some improvement in performance in the second half.In Wood Group PSN, growth for the year is underpinned by strong performance in the North Sea and in North America, particularly in the US shale regions where we completed the acquisition of Mitchell's in North Dakota during October. In Oman, we have taken steps on a number of key matters to improve performance on our contract with PDO. Losses for the year are expected to be around $20m and,subject to further progress, we anticipate significantly reduced losses on the contract in 2013 and that 2014 will be profitable. Elsewhere, we remain active in a number of other international locations including Africa, the Caspian and Australia.In Wood Group GTS, performance in our Maintenance business has benefitted from the contribution from our oil & gas related activities. In Power Solutions, we have recognised reduced margins on our contract with GWF which is now substantially complete and continue to make good progress on the Dorad contract which is scheduled to complete in the fourth quarter of 2013. We have recently commenced work on contracts with NRG Energy and Pasadena Water & Power and are tracking further opportunities, albeit delays in awards continue.Overall, performance for 2012 is anticipated to be in line with expectations.We anticipate further good growth in 2013 and remain confident in the longer term prospects for the Group's market leading services in oil & gas and gas fired power generation markets.
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Bellway p.l.c. Interim Management StatementBellway p.l.c. is today issuing an Interim Management Statement relating to the eighteen week period from 1 August 2012 to 30 November 2012.The Board is continuing with its previously outlined strategy of delivering improved shareholder returns through sustainable, organic growth in volume,selling price and operating margin.Market conditions remain largely unchanged, however customers' ability to access higher loan to value mortgage finance has improved slightly compared to the same period last year, as a result of the continuation of the Government's NewBuy mortgage indemnity scheme. As a consequence, reservations, net of cancellations, have risen to an average of 100 per week, an increase of 6%compared to the prior year. This growth in volume has been achieved from an average of 213 sites compared to 205 sites last year.A variety of sales incentives continue to be used in order to secure sales with NewBuy accounting for 10% of reservations taken in the period. Conversely, the Group continues to restrict the use of shared equity incentives, with these representing only 3% of reservations in the period, compared to 5% in the prior year. The average selling price of reservations, net of sales incentives, has increased by 4% to £195,800, reflecting continuing changes in product mix.The Group has achieved 3,951 (2011 - 3,748) sales for the current financial year, representing 72% of its current annual target. The Board anticipates that legal completions will increase by around 5% for the six months ending 31 January 2013 and expects that the operating margin for the same period will slightly exceed the 12.5% achieved in the second half of the previous financial year.The Board continues to believe that improvements in shareholder return can be achieved through organic growth, given that land can be acquired where the return on capital is accretive to shareholder value. To that extent the Group's land teams have been active, resulting in expenditure of £91 million on land and land creditors and modest net bank debt of £77 million at 30 November 2012. Given its balance sheet and operational capacity, the Group is well placed to deliver future sustainable and responsible growth.
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