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M-A-G MACC INFO WIGGINS TDC MP's LINKS NEW OOP's
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UK-Invest Tues 22nd February 2000 Peel Hunt has provided an update of its views on Wiggins (WGG) and at 45.5p is still a major bull of the stock, which it officially rates as a "buy". Analyst Chris Radmore reports that cargo capacity at the flagship Manston airport site is 30,000 tons a year and Wiggins is operating at full capacity. The companies original plan was to be handling 150,000 tons of cargo and 250,000 passengers a year within 5 years. But Peel Hunt says Wiggins is way ahead of schedule "By the end of the year to March 2001 (Year 2) the cargo target will have been achieved and the passenger target almost achieved" says the broker. Turning to International rollout, Radmore notes that Planestations expects "to have signed agreements over 20 European airports by the end of calendar 2000 - they are in negotiations on 7 at present." Talks are also said to be underway concerning 5 US airports and a couple in the Middle East. Turning to the bottom line Peel Hunt says it is confident that in the year to March 31 Wiggins will achieve pretax profit of 17 million and earnings per share of 1.45p and will resume dividend payments. Next year the broker expects 23 million at the pretax level and earnings per share of 1.97p rising to 30 million and 2.52p respectively in the year to March 2002. |