EAGA PLC (EAGA.LN), ) a green support services company and provider of residential energy efficiency solutions, reported Thursday 21st January 2010 a 10% rise in adjusted profit and said trading since the period end has continued in line with its plans, adding that the Board remains confident of the financial performance of the Group for the remainder of the year.

MAIN FACTS:

-Revenue for half year ended Nov. 30 up 15% to GBP391.5 million (2008: GBP339.4 million), primarily organic

-EBITA up 14% to GBP24.3 million (2008: GBP21.4 million)

-Profit before tax, amortization of intangible assets, exceptional items and ePT-funded charges up 10% to GBP23.9 million (2008: GBP21.7 million)

-Profit before tax GBP15.70 million (2008: GBP17.38 million)

-Adjusted diluted EPS up 10% to 6.74 pence (2008: 6.12 pence)

-Diluted EPS 4.39 pence (2008: 4.89 pence)

-Interim dividend up 10% to 1.21 pence (2008: 1.1 pence)

-Closing net cash balances of GBP34.6 million (May. 31, 2009: GBP31.3 million)

-Outlook for Group remains strong and Board continues to be well placed to capitalize on the opportunities that arise in core markets.

One to tuck away - bullshit, where is pth???

I had entirely forgotten about this thread and was quite surprised to see it re-appear.

Hyleo, you really are a total wanker. Why not try to read the posts and see if your limited intelliegence is capable of drawing any conclusions. But for your benefit, I'll explain in further detail.

Post 2: The Sp failed to get through 160p

Post 3: The SP did retrace to support at 140p (as predicted) and subsequently climbed back to resistance at 160p. Anyone taking a position on support would have made a profit, or at least broken even assuming stops were set.

Once the SP formed a double top and then broke trendline support all bets were off and quite clearly the stock became a short.

You will also note that the header ended in a question mark.

Rather than using the benefit of hindsight like a single grey cell moron you should try and read the content of the posts. I can find many examples of your hysterical 'sell, sell, sell'and 'buy, buy, buy' posts most of which have been proven to be 100% incorrect. Knobheads in glass houses should not throw stones.

I think you can get a pretty clear picture of my opinion of you and Justyi.

The business model is totally non-viable if it does not alter... 63p now.

Investors Chronicle was calling EAGA a buy last week at 103p.
Now 59p.

Eaga warns it faces significant exceptional restructuring charges following the government's decision to reduce spending on the Warm Front programme.

It says delivery of the Warm Front programme currently represents a material proportion of the group's activities, contributing approximately 44% of revenues during the financial year to the end of May.

Funding for the programme during the current 2010-11 fiscal year is 345m and this will reduce to 110m during the 2011/12 fiscal year and 100m in 2012-13.

Eaga says it has begun discussions with the Department of Energy and Climate Change over the reduced level of funding going forward.

It adds: "As a result of this lower funding, activity in both our managed services and heating & renewables segments, during both the current and next financial years, will be significantly lower than the board had expected prior to the CSR announcement.

"Given the change in scale of the operations in these divisions the operating margins (excluding restructuring charges) are likely to be lower than our previous estimates unless significant new work is won.

"To deal with the scale and speed of the reduction in Warm Front activity the group is taking steps to significantly re-shape its operational structure and as a result we expect to incur significant exceptional restructuring related charges.

"These charges will depend on the outcome of discussions with DECC, along with the ability of the Group to redeploy resources to other parts of the business.

"At this stage the cash element of the restructuring costs could total 20m and would be incurred across the next 24 months."

But Eaga said the board continues to view the outlook for the group in the longer term with confidence.

It's weakening now.

Heading into another major slide.

Takeover alert!

http://moneyam.uk-wire.com/cgi-bin/articles/201102110700120731B.html

They think it's all over http://www.moneyam.com/action/news/showArticle?id=4127490

It is now http://moneyam.uk-wire.com/cgi-bin/articles/201104190904581592F.html