Distribution Finance Capital (LON: DFCH) says trading has been better than expected and there is a write back on the RoyaleLife settlement. Panmure Liberum has upgraded its pre-tax profit forecast before the additional £3m RoyaleLife write back, which then adds a further 21% upgrade. The 2024 pre-tax profit forecast is £18.7m, falling back to £13m in 2025. The loan book will end the year at £650m-£700m, but the net interest margin will be higher than anticipated. The share price is 13.9% higher at 37p.
Floorcoverings distributor Likewise (LON: LIKE) in contrast with some companies had a strong October and November when sales were 11% ahead. Year-to-date growth is 7.5%, which represents an increase in market share. Margins are also improving. Zeus has maintained its 2024 pre-tax profit forecast at £2m, although sales are ahead of expectations. The share price rebounded 11.3% to 17.25p.
Semiconductor designer EnSilica (LON: ENSI) has won another long-term design and supply contract. The total contract value for the deal with an industrial test equipment provider will be more than $30m over ten years. This comes with an upfront payment to help the cash position. The share price improved 10.3% to 48p.
Ethernity Networks (LON: NET) chief executive David Levi has acquired five million shares at 0.13p/share on top of the 4.89 million shares bought in the placing at 0.133p/share. The share price recovered 9.62% to 0.1425p.
Nativo Resources (LON: NTVO) intends to acquire the Morrocota gold mine in Peru, which is 3km away from the Bonanza gold mine, where it has a 50% stake. The two mines share some facilities, and they have the same quartz vein systems. The cost is £125,000 in shares issued at 0.00288p/share. The share price rose 8% to 0.0027p.
FALLERS
SDX Energy (LON: SDX) plans to leave AIM because of the costs of the quotation and the greater flexibility as a private company. Potential investors would prefer to invest in an unquoted company. It is the intention to put in place a matched bargains facility. The strategy continues to be to become a vertically integrated gas and renewable energy producer in Morocco. If shareholders agree, then the quotation will be cancelled on 9 January. SDX Energy joined AIM in May 2016 at 18p/share. The share price slumped 55.3% to 0.85p.
Fashion retailer Quiz (LON: QUIZ) has been hit by falls in online and stores revenues, although there was an improvement in international revenues, in the four months to the end of November. There was a sharp decline in November. Overall revenues fell 6% to £24.9m. Annual costs will be increased by £1.7m as a consequence of the Budget. Net debt is £2.8m and the £4m of bank facilities could be fully utilised by early 2025 and additional funds will be required. The company’s founder has offered a £1m loan. The share price dived by 34.4% to 3.51p.
Rockfire Resources (LON: ROCK) is raising £660,000 via a placing at 0.12p/share and there is a retail offer than could raise a further £120,000. The cash will be spent on the development of the Molaoi zinc silver lead germanium project in Greece. The share price fell 22.9% to 0.135p.