Share research from Hargreaves Lansdown

Anglo American - Reinstating the dividend payment
30 Jul, 2010 12:55
The group’s half year results (30July2010) saw the company reporting good progress. Economic recovery in many parts of the world helped the group report a 104pc increase in operating profit to $4.36 billion. Group restructuring and cost savings initiatives all contributed, with management now confident enough to reinstate the dividend payment – axed during the depths of the financial crisis. The company’s sale of what are now seen as non-core businesses also remained ongoing - the already announced sales of

Royal Dutch Shell - Restructuring and cutting costs
29 Jul, 2010 14:00
The group’s second quarter/half year results (29July2010) generally exceeded analysts’ forecasts. Second quarter profit on a current cost of supply basis (a figure which strips out gains or losses from inventories and other non-operating items) increased by 95pc to $4.53 billion against that achieved in Q2 2009 ($2.3 billion). Assisted by a rising oil price, group restructuring measures continued to gain traction – costs of just over $3.5 billion on an annualised basis were removed over the period, with some

AstraZeneca - Enjoying emerging market momentum
29 Jul, 2010 13:25
The group’s second quarter/half year results (29July2010) materialised at the high end of analysts’ expectations. Pre-tax profit during the quarter rose by 10pc on a constant currency basis to $2.91 billion, whilst earnings per share came in at 179 US cents. The group’s core brands - Crestor, Seroquel and Symbicort – continued to enjoy strong performances, whilst emerging market sales again saw positive momentum (+16pc) – this compared to an increase of 1pc in Western Europe. In addition to

Royal Dutch Shell - Restructuring and cutting costs
29 Jul, 2010 13:20
The group’s second quarter/half year results (29July2010) generally exceeded analysts’ forecasts. Second quarter profit on a current cost of supply basis (a figure which strips out gains or losses from inventories and other non-operating items) increased by 95pc to $4.53 billion against that achieved in Q2 2009 ($2.3 billion). Assisted by a rising oil price, group restructuring measures continued to gain traction – costs of just over $3.5 billion on an annualised basis were removed over the period, with some

BAE Systems - Continuing to expect progress over 2010
29 Jul, 2010 13:20
The group’s half year results (29July2010) broadly met analyst expectations. Overall headline sales grew by 9pc over the period, whilst underlying earnings per share improved by 14pc to 20.4 pence per share. The F-35 Lightning II System Development and Demonstration programme completed its first mission systems flight test in March. The US Ship Repair business received a multi-ship, multi-option US Navy contract for executing planning, modernisation, maintenance and repair work on 11 Arleigh Burke-class destroyers. The contract has a potential

Rolls Royce - Raising guidance for the current year
29 Jul, 2010 13:20
The group’s half year results (29July2010) generally proved to be reassuring. The group made progress across all of its key financial metrics, whilst management guidance now expects a modest improvement for current full year profits over 2009. Group revenues increased to £5.42billion (2009 first-half £5.14 billion), while after-sales services revenues increased by 8pc to £2.61 billion on an underlying basis. Adjusted profit before tax improved by 4pc to £465m (2009 first-half £445m), with the group highlighting a robust balance sheet

Rexam - Reinstating the dividend payment
28 Jul, 2010 16:55
The group’s half year results (28July2010) saw the company enjoying a recovery in its fortunes. Group organic sales grew (excluding the impact of foreign currency exchange and disposals) by 2pc, whilst underlying operating profit gained by 22pc to £266m. Founded on improvements in underlying economies, the company witnessed a recovery in volumes, along with gains in pricing. Furthermore, a strong focus on costs, tight management of capital (investment) expenditure and a concentration on cash flow all underlies the performance. Fortunes

BATs - Consumers fund a 19pc boost to the dividend payment
28 Jul, 2010 16:20
The group’s second quarter results (28July2010) saw the company highlighting similar trends to those seen in the first quarter. While organic cigarette volumes declined by 3pc (-4pc in Q1), mainly driven by market declines in Romania, Turkey, Japan and Pakistan, price increases assisted the overall performance. Adjusted earnings per share increased by 13pc to 87.1p, ahead of an analyst consensus estimate of nearer 85p – currency fluctuations and a lower pound also played their part. Group revenue increased by 8pc

BG Group - Production levels dip
28 Jul, 2010 16:20
The group’s second quarter/half year results (28July2010) marginally disappointed investors. Production volumes declined by 2pc to 57.3 million barrels of oil equivalent, or 630,000 barrels a day, mainly due to maintenance programmes. Furthermore, on a headline basis, the group suffered a 21pc decline in Q2 profitability ($602m), impacted by exceptional charges taken to cover the value of commodity contracts and higher well write-off costs. However, when excluding exceptional charges, profitability rose by 19pc to $899m during Q2. The group’s Liquefied

Centrica - A positive first quarter, aided by the weather
28 Jul, 2010 16:15
The group’s second quarter/half year results (28July2010) saw the figures largely reflecting Centrica’s recent expansion, aided by one of the coldest winters on record. Adjusted operating profit grew by 65pc to £1.56 billion (£945m), with earnings per share growing by a similar amount. Assisted by the cold weather, residential gas consumption in the UK increased by 8pc, whilst a reduction in the group’s tariffs helped the company to add an additional 223,000 customer accounts. Furthermore, away from supply and towards