Filta Group Holdings FLTA reports strong trading in the first half of the year with revenue growth from new franchisees and previous acquisitions. The company continues to seek growth opportunities and further progress is expected in the second half of the year.
Home » Posts tagged 'flta'
Tag Archives: flta
Sanderson Group plc SND Half year trading results to the end of March, are ahead of management’s expectations with revenue growing to approximately £17.0 million from last years £14.6 million and operating profit increasing by over 30% to £2.8 million from last years £2.1 million. Digital Retail has continued to perform strongly during the six months and achieved further double-digit revenue and operating profit growth.in The Manufacturing business sales orders grew by over 10%. The Board is confident that it will be able to maintain its progressive dividend policy.
System 1 Group plc Sys1 updates that its Consultancy business stabilised after a difficult 2017/18. Gross profit was down 1% for the year as a whole at £22m but Being 4% ahead in the second half, allowed it to generate underlying pre-tax profits for the year as a whole.
Serabi Gold plc SRB Reports another excellent quarter with a strong start made to 2019 and over 10,000 ounces of gold produced in the first quarter, keeping up the momentum from the end of 2018 and the second successive quarter with production above 10,000 ounces for the first time. Guidance for 2019 is maintained at production in the range of 40,000-44,000 ounces representing a significant improvement on 2018’s production of 37,108 ounces.
Filta Group Holdings plc FLTA continued to experience strong organic growth for the year to the end of December whilst, at the same time completing two strategically significant acquisitions, moved Filta into a market-leading position. Like for like revenue grew by 23% and like for like EBITDA by 25%. The proposed final dividend has been increased to 0.92p. per share on top of the interim dividend of 0.72p making a total increase for the year of 26%.
IG Design Group plc IGR The strong trading performance continued in the final quarter both delivering revenue and profit growth across all regions in the year to the 31st March.. The Board now anticipates that the financial performance of the Group will be be up significantly up year on year. The progressive dividend policy is expected to be continued earnings pay-out ratio is also expected to be increasesd at the full year.
China-based Gamfook Jewellery had planned to join the standard list, but it has decided to float on NEX. The online retailer of customised jewellery had intended to raise cash at 15p a share, but the flotation on NEX on Christmas Eve will be an introduction at 15p a share. Management hopes the flotation will help to increase its profile and customer base. A dividend based on 28% of profit attributable to shareholders is promised.
Walls and Futures REIT (WAFR) has maintained its NAV at 92p a share at the end of September 2018. In the six months to September 2018, rents increased from £33,000 to £67,000. Additional supported housing opportunities have been assessed.
KR1 (KR1) has raised £785,000 at 5p a share and paid £40,000 in fees to advisers in shares at the same price. KR1 director Keld van Schreven subscribed for 50,000 shares. The cash will fund further blockchain token investments.
Panther Metals (PALM) has signed heads of terms for the acquisition of Parthian Resources, which owns exploration assets in Australian. Parthian shareholders will own 15% of Panther if the deal goes ahead. One of these shareholders is Kerim Sener, who is non-executive chairman, who will end up with 4% of Panther. The deal should be completed in January 2019.
Blockchain investment company Coinsilium Group Ltd (COIN) says that Gibraltar-based StartupToken has attracted a £193,000 investment from South Korea-based Blockwater Capital in return for a 7.4%. Coinsilium had invested £360,000 in StartupToken during November and the value of the investment has doubled to £722,000. Executive chairman Malcolm Palle has bought 200,000 shares in Coinsilium at 3.6p a share, taking his stake to 6.35%.
Clean Invest Africa (CIA) is acquiring the remaining 97.5% of CoalTech LLC for £24.6m. This will be funded by a share issue. A circular will be published in the first quarter of 2019. A new incentive plan for management, in the form of options exercisable at 2.5p a share, is planned.
IMC Exploration (IMCP) has issued five million shares at 1p ia share and every five shares has a warrant exercisable at 1p a share. The £50,000 will be used to continue exploration in Avoca, County Wicklow. Wishbone Gold (WSBN) has raised £300,000 at 0.1p a share. The cash raised will be used to accelerate production at the Honduras gold facility. NQ Minerals (NQMI) has raised £38,000 at 12p a share.
Milamber Ventures (MLVP) has issued shares valued at nearly £302,000 to creditors at a range of share prices. Management has acquired the majority stake in Milamber USA and Milamber retains a 20% stake. Milamber has also reduced its stake in Vocademia to 5% with the rest of the share capital acquired through the return of 900,000 Milamber shares. A further 166,667 shares were returned for Milamber’s stake in White Cobalt. Milamber has created a new training compliance company called Checkbox and taken a 51% stake in an education joint venture with Black Arrow Space Technologies, which is developing commercial orbital launch services.
Imperial Mining (IMPP) is changing its name to Imperial X to reflect the change in investment focus from resources to the cannabis sector.
Medicinal cannabis investment company Sativa Investments (SATI) says that investee company Rapid Dose Therapeutics Inc has listed on the Canadian Stock Exchange. This has provided a 70% uplift in the initial investment value for a gain of C$140,000.
Lombard Capital (LCAP) had £4,130 in cash and £112,000 in assets available for sale. at the end of September 2018. Lombard still plans to issue an asset-backed investment bond.
Tectonic Gold (TAU) says that initial analysis of drilling at the Specimen Hill project in Queensland has confirmed mineralisation with grades up to 6.06g/t. Full results should be available in January.
Trafalgar Property Group (TRAF) is raising up to £1m through an issue of 8.5% convertible bonds 2025. The issue could eventually be increased to £5m. The bonds will be traded on NEX. The cash will be used to fund residential development and planning applications. Trafalgar has limited cash and it lost money last year.
Filta Group (FLTA) has multipled the size of its grease management operations in the UK through the acquisition of Watbio for £6.9m in cash and shares, plus working capital adjustment. Cenkos has provisionally upgraded its 2019 earnings forecast by 26% to 11.8p, assuming completion of the deal in early January. Filta is raising £3m at 200p a share, which is a premium to the market price, and has obtained a £4m, five-year loan facility. Filta started building a grease management division through acquisition just over one year ago. Watbio generates annual revenues of £10.3m and pre-tax profit of £800,000 so it is much larger than the existing operations. It also offers other drain management services.
A strong performance from property servies more than made up for a weak first half performance of the business recovery division of Begbies Traynor (BEG) and pre-tax profit was 9% higher at £3.2m on revenues 8% ahead at £28m. The number of insolvencies increased in the first half but there was no repeat of the large one-off fee in the first half of the previous year. The interim dividend was raised by 14% to 0.8p a share. Net debt fell 10% to £6.3m. The performances of the divisions will reverse in the second half and 2018-19 pre-tax profit should improve from £5.6m to £6.4m.
President Energy (PPC) has drilled the third Puesto Flores well on budget and there have been good oil shows, but they are lower than the previous two wells. All three wells could be in production by the end of the year.
AssetCo (ASTO) has transferred the loal employees in Abu Dhabi to the new supplier of fire services. There is a possibility of winning work in the region. The litigation against former auditor Grant Thornton continues and a judgement could happen in the first couple of months of 2019.
URA Holdings (URA) was not able to complete the acquisition of Entertainment AI early enough to prevent the cancelation of the AIM quotation on 24 December. The acquisition could still happen.
Real Good Food (RGD) has sold jams maker R and W Scott for £1.5m, of which £500,000 is deferred until September 2019, and the assumption of £2.45m of debt. That takes disposal proceeds to £17.8m and completes the main corporate activity. The cake decoration and food ingredients businesses make up the majority of the remaining group.
Small business financial services provider City of London Group (CIN) continues to lose money as it builds up its activities. Recognise continues to try to obtain a UK banking licence.
HaloSource Corporation (HALO) has not been able to secure additional finance and trading in the shares has been suspended. There is limited cash left.
Thalassa Holdings (THAL) intends to move to a standard listing. No new shares will be issued and the move should take place on 25 January.
Revenue and EBITDA growth in the range of 15% to 20% is expected by Craneware (CRW) in the six months to December 2018. The healthcare accounting software provider has a 100% renewal rate in dollar terms in the first half.
Replacement windows and doors manufacturer Safestyle (SFE) has improved its order intake in the past six months after its agreement with a former employee who was competing with the company. However, costs have increased and the 2018 loss will be between £8.2m and £8.6m. The 2019 performance could be ahead of expectations. Otus Capital Mananagement has taken a 5.42% stake.
Audio equipment supplier Focusrite (TUNE) had a strong November but it is still cautious about the full year. The trade dispute between the US and China remains a concern.
N4 Pharma (N4P) has extended the licence agreement with UniQuest for Nuvec. It has become an exclusive global licence with certain fields licensed back to UniQuest.
finnCap has resigned as nominated adviser and broker to The People’s Operator (TPOP) and that could scupper the placing with the owner of LycaMobile. An investment of £1.3m in shares (29.9%) and convertible loan notes was planned.
Yu Group (YU.) says that the Financial Conduct Authority is investigating the accuracy of its announcements between March and October. Poor internal controls caused a shortfall in profitability. The energy supplier has revealed that its 2018 loss could be as high as £7.85m, which is higher than previously estimated. This is due to a decline in gross margins and balance sheet corrections. There was £11m in the bank at the end of November 2018.
LiDCO Group (LID) will report float full year revenues and this has led to a £800,000 increase in forecast pre-tax loss to £1.9m. The take-up of the high usage programme has been slower than expected and an Asian order was delayed. The patient monitoring equipment supplier is expected to have cash of £1.5m by the end of January 2019.
TLA Worldwide (TLA) has agreed in principle to sell its Australian business to QMS Media and this would make TLA a cash shell.
Rasmala (RMA) left AIM on 19 December. A new holding company is based in the British Virgin Islands.
It gets worse at Paragon Entertainment (PEL) with another loss in the second half on lower than expected revenues. A 2018 loss of £2.4m is forecast. Overheads have been reduced so the loss could be smaller next year.
Scientific Digital Imaging (SDI) increased interim revenues by 23% to £8.05m through a combination of acquisitions and organic growth, while pre-tax profit was one-third higher at £1.5m. finnCap is cautious about the full year for the scientific instruments supplier and has maintained its full year pre-tax profit forecast at £2.6m, which suggests a lower second half profit.
Management has launched a 12p a share bid for former AIM-quoted PR firm Freshwater as a way of enabling existing shareholders to exit the business.
Trading in standard list shell Fandango Holdings (FHP) shares has been suspended ahead of the proposed reverse acquisition of Konnect Mobile Communications Inc, which owns PaySocial Inc, a mobile banking and payments eWallet.
Standard list shell Papilon Holdings (PPHP) has acquired 50% of Pace Cloud Ltd, which owns CarCloud, a fintech company involved in the used car sector. This represents a fundamental change in the business. Papilon is raising up to £500,000 via a convertible loan note issue. The conversion price is 1.25p a share.
Telecoms services provider Toople (TOOP) lost £1.4m in the year to September 2018, which was slightly more than the previous year. The gross profit of £203,624 was enough to cover the directors pay of £196,713. There was a cash outflow of nearly £1m in the period. There was £2.14m in the bank at the end of September 2018, but there is a loan from former shareholder David Breith with a cash value of nearly £607,000, which could become repayable from 3 May 2019.
Zegona Communications (ZEG) has decided not to tender €7.75 a share for up to 14.9% of Euskaltel, where it is trying to improve performance, because it has not been abe to secure funding. Zegona has secured a relationship with Talomon Capital, which will own up to 2.4% of Euskaltel on top of Zegona’s existing 15% stake, which will be increased via market purchases. That requires a share issue by Zegona.
Investment company Athelney Trust (ATY) is consulting with existing and potential shareholders, concerning a tender offer to existing shareholders at the same time as an issue of new shares.
Brewer Adnams (ADB) grew its turnover by 7% to £35.5m in the first half of 2018 but there was an underlying operating loss and lower gains from asset disposals. The reported pre-tax loss increased from £284,000 to £840,000. The second half is always more profitable. Depreciation is higher due to investment in the brewery and the refurbishment of the Swan Hotel. Adnams own beer volumes increased by 4.8%, compared with the market growth of 1.3%. Carbon dioxide shortages have affected the second half. The interim dividend is unchanged at 78p/B share and 19.5p/A share.
KSE is offering £29,419.64 a share in cash for Arsenal Holdings (AFC) and that values the football club at £1.8bn. KSE already owns or has acceptances totalling more than 97% of the shares in the company.
Healthperm Resourcing Ltd (HPR) increased revenues by 184% to £293,000 in the first half of 2018 and 144 healthcare staff candidates were deployed in the period, which was nearly three times as many as in the first half of 2017. More students are being trained in the English language. Healthcare recruitment contracts have been signed in the UK and they cover nine hospitals. Contracts have also been signed outside the UK.
Angelfish Investments (ANGP) is subscribing for 0% secured convertible loan notes in Wallet Ads Ltd. The first drawdown is £50,000 and this will be followed by five monthly instalments of £20,000. On payment of the final instalment, or under certain other circumstances, the loan notes can be converted into 20% of the enlarged share capital of Wallet Ads, which has developed a mobile engagement platform combining mobile wallet passes, web and social media and this enables digital vouchers to be sent to smartphones. Angelfish non-exec Richard Walker will join the Wallet Ads board.
Pelican House Mining (PHM) is investing in battery minerals explorer Kalahari Key Mineral Exploration (KKME), which is exploring for nickel and platinum group metals in Botswana, near the South Africa border. AIM-quoted Two Shields Investments (TSI) is a co-investor in KKME and it increased its stake to 22.2%. Two Shields Investments also increased its stake in cobalt explorer Cobalt Blue Holdings to 49% before swapping it for a 11.26% stake in African Battery Materials (ABM), thereby gaining a wider exposure to technology metals licences.
Clean Invest Africa (CIA) raised an additional £50,000 at 1p a share when it floated last year. Geremy Thomas holds a 3.1% stake.
Shareholders in Welney (WENP) have voted against the appointment of Mark Jackson and Mark Chapman as directors.
AIM-quoted TechFinancials Inc (TECH) joined NEX on 8 August. Monreal has changed its name to Eight Capital Partners (ECP).
Fryer management and commercial kitchen services provider Filta (FLTA) says that interim figures are in line with expectations. There will be a full contribution from GMG, which was acquired last year, while the sale of the refrigeration division has helped to improve margins. Revenues are growing from newer franchisees and the UK-based seals business also grew its revenues. The interims will be published on 4 September.
Former boss Philip Swinstead has sold his 9.82% stake in Parity Group (PTY) and Helium Rising Stars has taken a 10.9% shareholding. Parity is on track to achieve double digit profit growth this year. The IT recruitment and consultancy services provider is modestly rated on a prospective multiple of less than nine, even though the share price has risen following the share dealing.
Pebble Beach Systems (PEB) expects revenues to fall from £4.6m to £3.9m but the broadcast software supplier believes that the second half should be better. A backlog of £4.7m should help full year revenues to be nearer to last year’s level.
Frontier IP (FIPP) has announced its first Portugal-based spin-out. It is taking a 31.8% stake in NTPE, which is developing Paper-E technology that can be used to print electronic circuits, sensors and semiconductors. This opportunity came through the relationship with Universidade Nova de Lisboa Faculty of Science and Technology. Another investee company, 27.5%-owned Fieldwork Robotics, has secured a deal with soft fruit grower Hall Hunter to prototype and test a raspberry harvesting robot system.
Phoenix Global Mining (PGM) has reported that the first drilling results from the Empire mine in Idaho have been encouraging. There was 68 metres at 0.57% copper from the surface. The current JORC resource is 0.52% copper so it would be good news if the current drilling provides higher levels of copper.
Mereo BioPharma (MPH) had net cash of £36.9m at the end of June 2018, but a R and D tax credit of £8.2m was received in August. An adult Phase 2b study for Osteogenesis Imperfecta (OI) is due to complete enrolment by the end of September. There will be initial six month data from the open-label high dose part of the study by the middle of next year. A flotation on Nasdaq is still a possibility.
Engineering and construction company North Midland Construction (NMD) increased its interim revenues from £135.1m to £160.9m and more than doubled pre-tax profit from £1.23m to £2.51m. The interim dividend has been doubled to 6p a share. Cash in the bank was 138% higher than 12 months before are £18.9m, although there are also finance leases of £4.5m. The order book is worth £320m. The telecoms-related part of the business is still losing money. There were much better profit contributions from the water and construction divisions.
Argo Blockchain (ARB) is developing a global datacentre management business facilitating cryptocurrency Mining-as-a-Service and has signed a deal that will provide 9.5MW of clean energy for two datacentres in Quebec (Argo already has one datacentre in Quebec). That provides the capacity for more than 150,000 subscribers and the centres will be operational in September and October. Argo joined the standard list on 3 August after raising £25m at 16p a share, which valued the company at £47m. However, the share price has fallen back to 11.13p.
Beauty and personal care products supplier InnovaDerma (IDP) has appointed Kieran Callan, who was a non-executive director, as chief executive with Haris Chaudhry moving to executive chairman. Callan used to work at PZ Cussons. This appointment follows poor trading and disappointing pre-tax profit in the year to Last October, InnovaDerma raised £4.4m at 276p a share and, having fallen by two-thirds at one point since then, the share price has recovered to 148.5p. Haircare brand Roots will be sold in Tesco.
Telecoms services provider Toople (TOOP) is holding a general meeting on 30 August in order to get shareholder approval to enable it to issue more shares to raise cash to keep the business going.
Oilex Ltd OEX has requested an immediate trading halt in the Company’s securities on the AustralianStock Exchange from the commencement of trading on Friday 10 August 2018. Oilex has asked for the halt to remain in place until the earlier of such time as it makes an announcement to the market in relation to the Event of Default Notice issued in regard to the Cambay PSC and the commencement of trading on Tuesday 14 August 2018.
Leeds Group plc LDSG reports that trading conditions have been difficult for the year to the 31st May and it does not propose to pay a dividend. Sales revenue increased by 1% to £41,538,000 .but profit before tax fell from £1,448,000 to £885,000. Earnings per share were halved from 4.1p to 2p.
Western Selection (WESP) maintained its NAV at 95p a share at the end of the six month period of December 2017. Net debt was £1.13m. A sharp upturn in the value of the stake in Bilby (BILB) and offset declines in other investments. The interim dividend is unchanged at 1.1p a share. The shares go ex-dividend on 8 March.
Gledhow Investments (GDH) has granted six million options to its directors and company secretary. Guy Miller and Brett Miller will receive 2.5 million options each and Geoffrey Melamet receives 1 million. The exercise price is 1p a share. They last for five years and would equate to 10.9% of the enlarged share capital if taken up. The current share price is 1p (0.75p/1.25p). Gledhow had a NAV of £714,452 at the end of September 2017, which is equivalent to 1.45p a share. Since the year end, a gain of £115,000 was achieved on the sale of Coinsilium shares and Gledhow retains a significant stake which in Coinsilium, where the share price is more than three times the level at the end of September 2017. That could add more than £100,000 to the Gledhow NAV but the Coinsilium share price is volatile. Directors and company secretary remuneration was £21,514 last year. There are 4.9 million warrants exercisable at 1.5p each but these expire on 6 March 2017. Bruce Rowan and related parties own 83.37% of the current share capital.
IMC Exploration (IMCP) is continuing with its plans to move to the standard list. IMC has signed heads of agreement with Trove Metals Ltd and this should lead to a joint venture for the project at Avoca, County Wicklow. The current Koza/IMC joint venture has been set aside. IMC has decided to focus on the 12 most prospective of its 15 licences.
Crossword Cybersecurity (CCS) says that its revenues more than doubled to more than £700,000 in 2017. There is customer interest in the Rizikon cyber security product and the General Data Protection Regulations will provide momentum when they come into force in May. Full year figures should be published by the end of April.
Sandal (SAND) says that radiators supplier Pitacs will be a distributor of the Energie MiHome range. Pitacs is launching a new boiler in April and the Energie MiHome thermostats and radiator valves can be sold with this. Pitacs supplies more than 2,000 independent plumbers’ merchants as well as Plumb Nation.
Angelfish Investments (ANGP) says that its investee company Rapid Nutrition plans to gain a quotation in London. Rapid, which is already quoted on the SIX Swiss Exchange, has developed a nutraceutical product range. One of the terms of the £150,000 loan to Rapid was that it should be admitted to the London market by the end of February but this date has been extended to the end of April because of delays in the flotation process. If admission to the market happens by 1 March, then the principal and interest will convert into Rapid shares. If it takes longer than the interest after the end of February is payable in cash.
BWA Group (BWAP) has issued £220,000 of 4% convertible loan notes, with £120,000 taken up by Bath Group, which is owned by BWA chairman Richard Battersby. Bath has taken £70,000 of the loan notes in lieu of cash owed by BWA investee company Mineralfields Group.
Trevor Lloyd has succeeded Philip Kirkham as chairman of National Milk Records (NMR).
Kryptonite 1 (KR1) has changed its name to KR1.
Shield Therapeutics (STX) disappointed the market with phase III patient trial results for the use of Feraccru in the treatment of iron deficiency anaemia in patients with chronic kidney disease that did not meet statistical significance requirements. The results are being analysed in order to identify the reason the trial failed. The share price fell by two-thirds.
Diversified Gas and Oil (DGOC) expects to complete the acquisition of Appalachian producing gas and oil assets from CNX Gas by the end of March. This will cost $85m (£59.9m), while the acquisition of Alliance Petroleum will cost a further $95m (£66.9m). A placing at 80p a share has raised £133.1m. The group’s net working interest production will increase by 173% to 28,133 boed. Management expects annualised EBITDA to be $70m-$75m.
OnTheMarket (OTMP) joined AIM on 9 February having raised £30m at 165p a share. The share price ended the day at 148p. The online property portal operator will make significant investment in its business over the next two years and this will lead it to fall into loss for a couple of years.
Draper Esprit (GROW) has made three new investments. Evonetix is developing the ability for parallel synthesis of DNA on silicon arrays. Droplet Computing has developed technology to decouple applications from the operating system for online and offline use. Kaptivo is developing products to provide whiteboard live streaming and image capture.
Seeing Machines (SEE) has published a trading statement to try to reassure investors following the unexpected departure of its chief executive. Interim revenues will be greater than the A$13.6m reported for last year. The fleet business is gaining revenues internationally. There is growing interest in the driver fatigue technology from Transport for London.
Recruitment software provider Dillistone (DSG) says that its 2017 figures will be much better than expected. This led to a pre-tax profit upgrade from £200,000 to £300,000. This is still a depressed figure due to the investment in GatedTalent and the future of the business depends on the take-up of this new product.
Engineering and technology recruiter Gattaca (GATC) says that weakness in the technology sector will hold back its progress and its chief executive has resigned. Underlying pre-tax profit is set to decline for a second year while the dividend could be halved to 11.5p a share in order for its to be twice covered.
Trading in the shares of BOS Global Holdings (BOS) remains suspended because of the resignation of RFC Ambrian as nominated adviser. BOS still does not have enough working capital so it cannot publish its 2016-17 annual report because the uncertainty over the AIM quotation scuppered a £1.2m placing.
Trading in Kennedy Ventures (KENV) shares will recommence on 12 February following the publication of its annual report. There was a cash outflow of £2.76m in the year to June 2017. The Namibia Tantalite Investment Mine run by African Tantalum has made its fourth shipment of tantalum to its North American customer and there are two more potential customers.
Croma Security Solutions (CSSG) says its first half figures will be much better than those reported for the first half of last year. The EBITDA will improve from £440,000 to more than £1.1m. The company’s largest ever contract was won at the end of the period. There has been an increase in demand for personnel from Croma Vigilant and it has won a five year contract. There is also improved demand for technology supplied by Croma Systems. The interims will be published in February.
BNN Technology (BNN) will lose its AIM quotation on 12 February. A matched bargain facility will be set up. The remaining board hopes to do at least one deal with the two US-listed companies it is in discussions with concerning the acquisition of all or most of BNN’s business.
Strategic Minerals (SML) has extended its access to the Cobre magnetite stockpile in New Mexico until the end of March 2019. This will provide cash to finance other projects.
Origo Partners (OPP) has sold 4.7% of Jinan Heng Yu Environmental Protection Co Ltd for the equivalent of $3m. This is in line with book value but it may take many months for the cash to be received. Origo retains a 7.2% indirect stake. The Origo NAV was $0.09 a share at the end of June 2017.
Alba Mineral Resources (ALBA) has secured additional exploration licences in Greenland. The 466 square km of land is in north west Greenland. Exploration work can be combined with existing licence areas.
Mercantile Ports and Logistics (MPL) says its port in Mumbai will receive its first revenues in a few weeks, following delays in the first customer sorting out its logistics. A further 200 metres is being added to the quay on the east flank of the facility.
Physiomics (PYC) has won a £70,000 contract from a major pharma company. The company’s Virtual Tumour computer model will be used for helping to predict outcomes in pre-clinical testing.
Warpaint London (W7L) says its 2017 results will be in line with expectations suggesting a pre-tax profit of £9.8m and a total dividend of 4p a share.
Polarean Imaging has relaunched plans to come to AIM. It had planned to float at the end of 2017 and the new proposed date is 22 February.
Fryer management services provider Filta Group Holdings (FLTA) says its 2017 revenues were 30% higher at £13.25m. The sale of the refrigeration business should increase the group margin.
TechFinancials Inc (TECH) has pulled out of the sale of non-core operations because the buyer had still not obtained regulatory approval.
Cadmium-free quantum dots producer Nanoco (NANO) has secured a material development and supply agreement with a major US firm that will provide funding to expand Nanoco’s manufacturing site in Runcorn. The deal covers the production of nano-particles for electronic devices. Commercial supply should commence in 2019.
Dukemount Capital (DKE) has secured a two month extension to its option on a property in north west England while talks with a housing association continue. Plans for the refurbishment of the building will be presented to the housing association. Gary Carp has increased his stake from below 3% to 5% in the past fortnight.
Flying Brands Ltd (FBDU) is negotiating to buy a North American medical imaging software developer, which owns FDA-approved medical imaging software that fits well with Flying Brands; own software. The cost of £500,000 would mainly be financed through a share issue.
Avocet Mining (AVM) has completed the sale of Resolute (West Africa) for $5m.
Path Investments (PATH) is still intending to raise cash and move to AIM in the first quarter of 2018. The farm-in deal to acquire 50% of Alfeld-Elze II licence and gas field in Germany is expected to go ahead in the near future.
Chuk Kin Lau has increased his stake in book publisher Quarto Group (QRT) from 20% to 25.6%. Cavendish Asset Management nearly halved its stake to 3.69%.
Good Energy (GOOD) and Ecotricity have come to an agreement that means the latter has withdrawn its requisition of a general meeting. No details were released about the reasons behind the withdrawal.
Cadence Minerals (KDNC) is in talks to sell part of its 16.1% stake in AIM-quoted Bacanora Minerals (BCN) to a strategic investor group. Bacanora’s main interest is in the Sonora lithium project in Mexico.
Blockchain investment company Coinsilium Group Ltd (COIN) has formed a Gibraltar-based subsidiary called Terrastream Ltd, which plans to develop blockchain platform for a token-based alternative funding system. Gibraltar is expected to be the first jurisdiction to develop a regulatory framework for distributed ledger technology and the blockchain. A token sale will help to finance the development work. The initial focus is likely to be the resources sector.
MetalNRG (MNRG) has added additional ground to its licence in Australia. The new area will be called Palomino North.
All Star Minerals (ASMO) has extended the terms of the convertible loan note issued to Valiant Investments have been extended so it matures in May 2018. The annual interest charge is 20% and the conversion price is 0.1p a share. The maturity dates of other loan notes totalling £110,000 have been extended to January 2018. The interest rate and conversion price are the same. Shares have been issued to satisfy past liabilities on these loan notes.
Warehouse REIT has issued the AIM prospectus for its placing, offer for subscription and intermediaries offer to raise up to £150m. An existing portfolio of warehouse assets will be acquired for £108.9m, based on a 7% net initial yield, and there are other potential assets being assessed. A dividend of 5.5p a share is being targeted for the year to March 2019.
Utilitywise (UTW) has confirmed that trading last year was in line with expectations so pre-tax profit is likely to decline from £8.2m to £4.7m.
Palace Capital (PCA) has sold a Bristol property for £2.25m, which is its net asset value, following the loss of one of its tenants, Blafour Beatty. The property was acquired as part of a portfolio from Quintain in 2013.
Scientific Digital Imaging (SDI) is acquiring Applied Thermal Control, a manufacturer of chillers, coolers and heat exchangers, for up to £1.2m.
Management Resource Solutions (MRS) says that its chief executive Joe Clayton has left the company. He was appointed chief executive at the end of 2016. In the year to June 2017, MRS generated revenues of A$52.2m and the loss for the year will be higher than expected. Exceptional costs will also be higher than thought initially. MRS had cash of A$2m.
Gatemore Capital has increased its stake in DX (DX.) from 21.3% to 23.8% following the resumption of trading in the shares.
Redx Pharma (REDX) will be paying unsecured creditors in full. The process has begun but it will take some time. This brings the reintroduction of trading in the shares nearer.
Home improvements products provider entu (UK) (ENTU) is appointing an administrator because it has not agreed a refinancing with a potential financial backer. The trading businesses will be sold. Trading in the shares was suspended on 24 August. entu raised £32.8m when it joined AIM in October 2014.
Kin Group (KIN) has been unable to secure the funding it requires and an administrator has been appointed to the main subsidiary. Kin Group will not get anything from a sale of the subsidiary and it will become a shell. There will still be a requirement for a fundraising for the shell to be viable.
365 Agile (365) has left AIM because it has been unable to secure a reverse takeover. Potential acquisitions are still being assessed.
Mercantile Ports and Logistics Ltd (MPL) has signed up the first customer for its Mumbai port facility. This should generate £4.7m for each one million tonnes handled, with the payment raised by 7% a year. Two million tonnes of cargo have been contracted for the first year, with a guaranteed minimum of 750,000 tonnes, and the figure will rise for each of the next two years reaching three million tonnes in the third year, with a minimum of two million tonnes. Operations should commence in December. The share price rose by two-thirds to 8.13p.
Sula Iron & Gold (SULA) has raised £900,000 at 0.146p a share but £500,000 of this figure will be part of an equity sharing agreement. Sula is gambling that it will receive £500,000 or more as part of the equity sharing agreement and this will paid on a monthly basis until September 2018. The benchmark price is 0.161p a share so each month the share price has to be at least that level for Sula to at least receive that amount owed. The board members have agreed to halve their salaries.
Verditek (VDTK) has secured a deal that will mean that 51%-owned Greenflex Energy will provide its solar technology to power digital advertising boards in bus shelters in Italy. This is a trial contract won via competitive tender and starting with one bus shelter and then rolling out to a further 20. The customer is Media One, which operates more than 5,000 digital advertising boards.
Finsbury Food (FIF) is closing the loss-making pastry products maker Grain D’Or,which has failed to improve despite cost controls. Grain D’Or was acquired as part of the £56m Fletchers acquisition in 2014 and last year generated revenues of £28.5m.
Church & Dwight has terminated its CSD500 condom licensing deal with Futura Medical (FUM) after just over four years. The licence covered North America and part of Europe. The rights will be returned to Futura by November. New partners will be sought.
Green & Smart Holdings (GSH) says that biogas project development is on track and the company could pay a maiden dividend for the 2017-18 financial year.
Investment in the business has held back first half progress at packaging manufacturer Robinson (RBN) and underlying pre-tax profit fell from £580,000 to £364,000. It was also difficult to pass on plastic resin cost increases. Full year profit is forecast to fall from £2.2m to £1.2m.
Bushveld Minerals Ltd (BMN) has retired its $3m prepayment facility, which was used to buy part of its 78.8% stake in Strategic Minerals Corporation, with Wogen Resources. Vametco Alloys has increased its facility from $6m to $11m. Vametco’s Nitrovan vanadium will be marketed by Wogen around the world outside of Japan and Taiwan.
Filta Group Holdings (FLTA) is acquire drain services provider Grease Management for up to £1.11m. Annual revenues are £1.28m and three-quarters are recurring. Post-acquisition cost savings of around £100,000 could nearly double the profit contribution.
Cancer drug developer Sareum (SAR) says that its full year profit will be better than expected. The cash pile will also be higher than forecast.
Sphere Medical Holdings (SPHR) is ditching its AIM quotation as part of a funding deal with Woodford Investment Management and the Wales Life Sciences Investment Fund, which will invest £5m in convertible preferred shares. Other investors will invest up to £3m. The convertibles will be issued at 2.82p each and can be swapped for one ordinary share. Sphere will be re-registered as a private limited company, which makes it possible for Woodford to invest more.
Nanoco Group (NANO) is attracting interest in its cadmium-free quantum dots following the EU’s plans to ban cadmium in displays from October 2019. However, revenues are slower in coming through than hoped.
Photovoltaic silicon wafers supplier PV Crystalox Solar (PVCS) still had net cash of €27.9m at the end of June 2017. Running down inventories has offset the loss of €5.4m. A decision should be made by the arbitration tribunal concerning a customer that did not purchase the wafers it was contracted to buy by the end of September.
Packaging company Macfarlane Group (MACF) increased its revenues from £81.5m to £89.8m, while pre-tax profit jumped from £2m to £2.54m with the improvement coming from the distribution business. Net debt was £14.6m at the end of June 2017, while the pension fund deficit was cut from £14.5m to £13.4m. The interim dividend was increased from 0.55p a share to 0.6p a share.
Following the ending of bid talks for Quarto (QRT), Liontrust has cut its stake from 12.65% to 7.54%. Cavendish Asset Management has taken its stake to 5.18%, while two directors have also made small purchases.
Shares in standard list hostels operator Myanmar Strategic (SHWE) started trading on 22 August. The placing price was $10 and the shares are trading at $9.5m – a bid/offer price of $7/$12.
Standard list shell Boston International (BIH) is in talks to acquire Cornhill FX Holdings. This is part of the strategy to acquire operations in the foreign exchange sector. Legal and financial due diligence is being undertaken. Cornhill Capital is Boston’s broker.
Plus 500 PLUS produced a strong performance with record breaking results significantly ahead of expectations, in the six months to the 30th June. Net profit rose by 104%, EBITDA by by 100% and earnings per share by 103%. Revenue rose by 19%. Including the share buy back programme returns to shareholders more than doubled, rising from $26.7m to $64.4m. Current trading continues to be strong and it is expected that results for the remainder of the year will continue to exceed market expectations, significantly.
Telit Communications TCM plunged from a profit of $4.7m to a loss of $6.7m before tax in the six months to the 30th June. Revenue growth was hekd back by a number of factors including delays in the US certification of LTE poducts which is not now expected until quarter 3. Despite the delay the company still expects these to be strong growth drivers in the second half and remains confident of a strong performance but just to be on the safe side the interim dividend of 2.5 US cents per share is being abolished.
Ultra Eectronics ULE Expects to see the year more heavily weighted than normal towards the second half following delays in the awarding of new contracts due to the UK general election and delays in the US budget being approved. First half revenue fell by 0.1% and underlying profit before tax by 0.2% but the interim dividend is being increased by 2.8%
Filta Group Holdings FLTA updates that revenue growth in the six months to the 30th June has been in the region of 38% following strong performances in both the UK and the US. The first half has been substantially ahead of last year and further growth is expected throughout he remainder of the year.