Petro Matad (MATD); operational update: drilling of 90MMbo Snow Leopard advanced to Q2 2018
Stock down 7.6% to 11.5p at 8:02
In its update on the planned exploration drilling programme in 2018, MATD has announced to advance the drilling of the 90MMbo Snow Leopard to Q2 2018. It will also defer the drilling in the Tugrug Basin.
Read more...Destiny Pharma (DEST); starts Phase 1 dermal safety study of XF-73; FY2017 operating loss £3.2m
Stock up 5.54% to 131.40p 08:05
DEST announced the start of Phase 1 dermal safety study, looking at potential skin irritation of XF-73 solution involving up to 30 subjects. The FDA also confirmed that the clinical pathway planned by the company for XF-73 was appropriate.
Read more...Solid State (SOLI); trading update: revenue to be slightly ahead and PBT to be in line
Stock down 20.21% to 300.00p 08:00
SOLI expects overall revenue for the year ended 31 March 2018 to be more than £45.5m, up almost 15% YoY, slightly ahead of expectations. It expects PBT to be in line with market consensus at around £3m.
Read more...Air Partner (AIR); accounting review update: Total cumulative impact will not exceed £4m
Stock up 11.08% to 82.20p at 8:12
The issue is related to its accounting for receivables and deferred income in previous financial results. AIR’s board has appointed PricewaterhouseCoopers and Rosenblatt Solicitors to provide independent accounting and legal support as part of the review into the issue. Management believes that the total cumulative impact will not exceed £4m for financial years ended 31 July 2011 and 31 January 2018.
Read more...Severfield (SFR) trading performance: on a solid track
The group’s overall trading performance continues to be in line with the upwardly revised expectations. The financial position of the group remains strong and year-end net funds were around £33m (2017: £33m).
Read more...Epwin Group (EPWN); Weak markets and input cost inflation push down FY 2017 adjusted PBT by 14.2%
Stock down 1.26% to 78.50p 08:03
Revenue rose 1.7%, while underlying operating profit fell 12.9%. Underlying operating cash conversion rate declined to 89%. EPWN proposed a final dividend of 4.46p per ordinary share, totalling 6.69p per share for the year.
Read more...Norcros (NXR); trading update: underlying profit in line, UK business remains challenging
Stock down 2.83% to 180.50p 08:05
NXR announced that overall revenue for the year ended 31 March 2018 is expected to be around £300m, up 10.7% YoY and 4.4% higher on a constant currency like for like (LFL) basis.
Read more...Eddie Stobart Logistics (ESL); full-year results: 2017 underlying revenues and EBIT grew 14% and 17%
Stock up 0.88% to 126.60p 08:04am
Revenues grew in Manufacturing, Industrial and Bulk (+37%), E-commerce (+111%) and Retail (+11%), but decreased in Consumer (-12%) and Other (-50%) segments. Operating profit decreased 1%, mainly due to one-time IPO costs.
Read more...Custodian REIT (CREI); acquires distribution unit in Bellshill for £3.72m
The 53,198 sq. ft. distribution unit is located within Bellshill Industrial Estate, Bellshill, 10 miles east of Glasgow. The purchase price of £3.72m was funded with CREI’s existing debt facilities, which increased the net gearing to 21.8% loan to value.
Read more...Mission Marketing (TMMG); strong revenue and profit growth;announces acquisition
Stock up 2.2% to 46.5p at 8:05am
In 2017, TMMG’s revenue and profit grew for the seventh consecutive year. The company announced the acquisition of Krow Communications Ltd (Krow)
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