Audio visual services provider Mediazest (LON: MDZ) has received more than £500,000 in new orders from existing customers over the past two months. A car manufacturing client accounts for the majority of the value of the orders. The company is progressing towards a return to profitability. The share price is one-fifth higher at 0.09p.
Yet another upgrade for Warpaint London (LON: W7L) from Shore Capital following the interim figures today. There was strong growth in Europe and the UK. North America grew slightly but the focus is higher margin business. Gross margins continue to improve. Overall group sales were one-quarter ahead at £45.8m and pre-tax profit jumped from £6.3m to £11m. The full year pre-tax profit forecast has been raised 5% to £24.5m. The share price increased 9.69% to 566p.
Trading at Sancus Lending (LON: LEND) was below expectations in the first half as management focused on the quality of lending. This, and the lower cost base, should lead to improved trading in the second half and move the business into profit later in the year. A full year loss of nearly £1m is still forecast. The share price rose 11.1% to 0.5p.
DP Poland (LON: DPP) generated like-for-like growth of 22% in the first half and the growth remains above 20% in the second half. Money raised this year is being invested in new Domino’s sites in Poland. There is also growth in franchising with four corporate stores sold to an overseas operator. The loss is reducing, and DP Poland could move into profit in 2025. The share price improved 4.88% to 10.75p. The April fundraising was at 9.92p.
FALLERS
Interim results from Bushveld Minerals (LON: BMN) show Vanchem as a discontinued activity ahead of its planned sale, which could happen in October. Continuing revenues fell from $5.1m to $25.6m as sales of vanadium fell by one-third and the realised price dropped. There was a free cash outflow of $18.1m and net debt reached $124m by the end of June 2024. Annualised savings of up to $10m are being made. There was cash of $4.1m at the end of August 2024. There are plans to sell Lemur. The share price dipped 10.5% to 0.425p.
Deutsche Bank has changed its recommendation for Avacta (LON: AVCT) to sell with a price target of 40p. This follows Monday’s announcement of updated phase 1 clinical data of AVA6000. It is safe and stable and there is observed efficacy. The share price declined 14.3% to 60p.
Plastic products manufacturer Coral Products (LON: CRU) reported a dip in full year revenues from £35.2m to £31m, while pre-tax profit slumped from £2.3m to £800,000. Lower margin business is being shed. Net debt was higher than expected at £7.8m. Property sales will boost the balance sheet, and it could fall to £5.1m by next April. Weaker demand has continued into the new financial year, but this is being offset by improved efficiency. Pre-tax profit could recover to £1.8m this year. The share price is 15.6% lower at 9.5p.
Shares in oil and gas company Bowleven (LON: BLVN) have fallen 14.3% to p ahead of the exit from AIM on 23 September. JP Jenkins will provide a matched bargain facility.