Metals Exploration (MTL); typhoon Rosita impacts operations
Stock down 8.33% to 1.38p at 08:31
Metals Exploration’s subsidiary, FCF Minerals Corporation, advised that Typhoon Rosita had short term impact on its mining and processing operations at its Runruno project in the province of Nueva Vizcaya. The typhoon made landfall on Tuesday morning over the central and northern parts of the island of Luzon.
Read more...NetScientific (NSCI); Vortex Biosciences partnering with STRATEC for liquid biopsy platform
NetScientific recently reported revenue of £0.13m in H118, down from £0.16m in H117
Vortex, the US- based portfolio company of NetScientific, announced a global partnership with STRATEC Consumables to produce a customised chip for use in its automated liquid biopsy platform (VTX-1) and to scale-up commercialisation of the product.
Read more...4imprint Group (FOUR); momentum continues into the second half
4imprints board expects full-year revenue and underlying operating profit to be at the upper end of market forecasts
4imprint Group issued an update on its group trading performance today. The group’s half-year results, reported on 31 July 2018, indicate that it is progressing well towards its strategic goal of generating $1bn in revenue by 2022. It also reflected highly encouraging initial results from its brand marketing initiative launched in March 2018.
Read more...KEFI Minerals (KEFI); receives formal renewal of its Hawiah Exploration Licence in Saudi Arabia
KEFI will now reactivate exploration activities in the license area as the operator for its local JV partner Gold and Minerals Limited.
The license renewal follows a two-year review by the Saudi government of the companies mining code to encourage foreign investment in its mining industry. Work was suspended in the area in 2016 over certain issues raised by the local community, which have now been settled.
Read more...Shepherd Neame (SHEP); announces results of property valuation
Management expects to repeat the property valuation every four years
Shepherd Neame, the Kentish brewer and pub-company, announced the results of a property valuation equivalent to a 12% increase in the company’s net book value from 1353p per share (as recorded in the June 2018 accounts) to 1515p, a 42% premium to the share price of 1010p. Management intends to repeat the exercise every four years, which gives a new dimension to the valuation perspective available to shareholders.
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PPHE Hotel Group (PPH); on course to meet full year expectations
The average room rate grew 2.5% LFL or 3.4% on a reported basis
PPHE is on course to meet full-year expectations with firm progress across the board in Q3 (like-for-like RevPAR up 5.8%). While regional performance is not disclosed, London, the company’s largest profit source, looks to have shared in market recovery (RevPAR up 4.5% per STR), while Netherlands has seen early benefit from newly-completed flagship Victoria Amsterdam renovation.
Read more...Globalworth (GWI); acquires office buildings in Warsaw for €190m
Acquisition expected to yield c.€11.5m in rental income
The acquisition of two properties in Warsaw by Globalworth’s Polish subsidiary will be funded through the extension and increase of an existing second loan agreement with Globalworth.
Read more...Lighthouse Group (LGT); renews affinity contract with Bakers for additional three years
Bakers, the only independent Trade Union for the food industry, comprises 17,000 members
Lighthouse Group has announced renewal of its affinity contract with Bakers, Food and Allied Workers’ Union (BFAWU) for an additional three years from 1 September 2018.
Read more...Grifol’s study a significant development, but not for the reasons Grifols would like to believe
Albumin replacement therapy study opens up potential new treatments for Alzheimer’s
Spanish blood fractionation company Grifols has released results this morning, which one of its investigators has described as “the most significant development in the treatment of patients with moderate Alzheimer’s disease (AD) in over 15 years”.
Read more...Restaurant Group (RTN); to acquire Wagamama
For the most recent reporting year Wagamama generated £43m EBITDA, 45% the size of Restaurant Group’s £95m
Consolidation in the multi-site leisure and retail space is something we are likely to see much more of in the current weak consumer market. Restaurant Group is one of the largest UK operators with market capital of £565m, though its reputation is not the best following a serious profit collapse three years ago.
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