Sopheon tops London risers as it raises 2017 guidance?EUR<

By Tom Howard / January 29, 2018 / www.proactiveinvestors.co.uk / Article Link

Innovation management services provider, Sopheon PLC (LON:SPE) expects 2017 sales and profits will be well ahead of market expectations when the numbers are totted up.

The board expects that reported revenues for 2017 will exceed US$28mln, up from US$23mln in 2016.

Overall revenue visibility for 2018 stands at US$18mln, compared to US$13m at this time last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) will be "significantly ahead of market expectations, as will pre-tax profits.

The net cash position at the end of 2017 was positive, at around US$9.5mln, up from US$4.2mln at the end of 2016.

Shares gained 17.4% across the day to trade at 578.2p.

 

1.45pm...Petra Diamonds records biggest single-day fall for 17 years after profit warning?EUR<

Petra Diamonds Ltd (LON:PDL) shares are currently enduring their worst session for 17 years after the miner cut its current year production guidance and said earnings are expected to be hit by a stronger South African Rand.

The company now expects production for the year to the end of June to be between 4.6mln and 4.7mln carats, down from its previous forecast of between 4.8mln and 5.0mln carats.

Higher diamond prices should mean that revenue per tonne is broadly the same as last year, although it added that underlying earnings for the year will see a 10-15% impact from the stronger Rand on Petra's dollar-denominated cost base.

Shares are currently down 15.4% to 66.6p.

Margin worries hit Bargain Booze owner as well

Margin pressure at Bargain Booze owner Conviviality PLC (LON:CVR) had the share price going down swifter than  a can of Special Brew this morning.

Results for the 26 weeks to 29 October were mixed, with the wholesaler and off-licence stores operator reporting a 9.2% year-on-year increase in revenue to ?836.3mln and a 1.7% increase to ?23.2mln in adjusted underlying earnings (EBITDA).

But the gross margin ebbed to 12.5% from 12.8% due to an increase in sales to large national account customers in the period, leading to a 1.6% fall in pre-tax profits which came in at ?12.3mln.

Shares sank 13.4% to 310p.

 

9.40am... Fishing Republic angling for success as it nets ?1.3mln through share placing

Fish tackle retailer Fishing Republic PLC (LON:FISH) is angling for some success after it raised ?1.3mln from investors to help develop its e-commerce operations.

The AIM-quoted firm - which plunged back in November after a shock profit warning - wants to beef up its online game as, like most bricks-and-mortar retailers, it has struggled to get people through its doors as punters' habits shift towards internet shopping.

It raised the money at 10p a share - a slight discount to Friday's closing price - so it is perhaps unsurprising to see the stock fall back 6% to 9.9p early on Monday.

Porta Communications top of the risers

Porta Communications PLC (LON:PTCM) was the top riser in London though.

The City PR group - behind agencies such as Newgate and Redleaf - told investors that the strong trading it enjoyed in the first six months of 2017 continued into the second half of the year.

As a result, Porta expects gross profits for the 12 months through to December 31 to be in the region of ?33mln and adjusted underlying earnings (EBITDA) to be around ?2.5mln.

In 2016, the AIM-listed firm saw gross profits rise 10% to ?29.7mln and adjusted underlying earnings rise 11.5% to ?2.3mln.

Back in its interim results, chief executive Stefan Williams said the addition of several new faces to the board and management team had a "positive effect on the performance of the business".

 

Proactive news headlines:

Porta Communications PLC (LON:PTCM) has told investors that the strong trading it enjoyed in the first six months of 2017 continued into the second half of the year.

Internet of Things company Telit Communications PLC (LON:TCM) has confirmed that "numerous parties" have expressed an interest in acquiring its automotive division.

Concepta PLC (LON:CPT) shared some impressive results from hospital evaluations of its myLotus fertility product carried in its launch market of China. Women at the Changhai Hospital, Shanghai, and SJZ Reproductive Hospital, Shijiazhuang, took part in ovulation and pregnancy tests.

Palintest, a subsidiary of Halma PLC (LON:HLMA), is to collaborate with Molendotech, a portfolio company of Frontier IP PLC (LON:FIPP) to develop and commercialise Molendotech's water quality testing technology.

Rose Petroleum PLC (LON:ROSE) has revealed new analysis of its Paradox basin acreage, in Utah, seeing the potential for some 450mln barrels to be present. Chief executive Matthew Idiens described the initial seismic results as "a watershed moment" for Rose.

Hydrogen power specialist ITM Power (LON:ITM) increased income by 47% and more than doubled the size of its order book in its latest half year. Graham Cooley, chief executive, said the half-year had seen strong and consistent growth in both the refuelling and power-to-gas markets.

Chief executive officer Mike McAuliffe is leaving Seeing Machines Limited (LON:SEE), the computer vision technologies company.

DP Poland PLC (LON:DPP), the franchise holder for Domino's pizzas in the central European country, has launched its first national TV ads following another six months of rapid sales growth. Total revenue in 2017 rose by 51% to 58mln PLN ( ?12.2mln) from 39mlm PLN, with like-for-growth of 17%.

Faron Pharmaceuticals Ltd (LON:FARN) has been granted fast track designation by the US Food & Drug Administration for its lead drug, Traumakine.This accelerated review is designed to get drugs to areas of unmet medical need.

Nasstar PLC (LON:NASA) said adjusted underlying earnings (EBITDA) for 2017 were slightly ahead of expectations while the cloud computing group's cash position improved substantially.

Metal Tiger PLC (LON:MTR) has purchased, on market, 5.75mln shares in Thor Mining PLC (LON:THR) (ASX:THR) at an average price of 3.25p per share. As a result, Metal Tiger's holding in Thor is now 67.1mln shares, representing 10.87% of the issued share capital.

Diversified Gas & Oil PLC (LON:DGOC), the US-based gas and oil producer with a focus on the Appalachian Basin, said that trading for the year ended 31 December 2017 remains in line with market expectations and prospects for 2018 look very encouraging, with the group evaluating further acquisitions.

Greka Drilling Limited (LON:GDL) boss Randeep Grewal is expecting a materially better 2018, thanks to rising demand for well drilling services in China. "We expect a stronger drilling mandate during 2018. With firm drilling contracts signed with state-owned enterprises, we start 2018 with a materially stronger foundation than last year."

Jersey Oil & Gas PLC (LON:JOG) has told investors that a follow on to the Verbier discovery well is planning for this summer. The company, in a statement, said that the co-venturers (which are led by project operator Statoil) have now approved a work programme and budget for 2018, and it includes an appraisal of the Verbier oil discovery.

Fox Marble, the AIM-listed company focused on marble quarrying in Kosovo and the Balkans region, announced that it has received the ?2mln due in respect of the subscription shares as announced on the 19 January 2018. As previously announced, it is the company's intention to use these funds to retire existing debt of the Company and increase production at the quarries and processing factory.

Metminco Ltd (LON:MNC) has submitted a plan of works for the development of its Miraflores gold and silver project in Colombia. The next crucial step will be the completion of an environmental impact assessment. At the end of last year, Metminco established a reserve of 457,000 ounces of gold and 385,000 ounces of silver at Miraflores.

Cabot Energy (LON:CAB) announced that following completion of the recent subscription with High Power Petroleum LLC, announced on 19 December 2017, Petro Mychalkiw has been appointed to the board as a non-executive director.

Kore Potash PLC (ASX:KP2) announced that Lawrence Davidson resigned as joint company secretary of with effect from 25 January 2018. It added that current joint company secretaries, Henko Vos and Francesca Wilson will continue in their roles. 

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