In content advertising company Mirriad Advertising (LON: MIRI) continues to recover some of last week’s share price decline and is 60.7% higher at 0.045p, although 86.8% lower on the week.
Staffing company Empresaria Group (LON: EMR) has received a bid approach from a consortium of individuals, including the boss of the offshore services division of the company. The 60p/share indicative offer comprises 10p/share in cash and 50p/share in loan notes to be redeemed on the third anniversary of the acquisition. The Empresaria board believes the offer undervalues the company. However, two major shareholders are keen for options to be explored to realise value in the business and the initial approach may encourage others. The share price jumped by two-fifths to 35p.
Automotive interior components supplier CT Automotive (LON: CTA) improved margins in 2024 through cost reductions and greater efficiency. That enabled pre-tax profit to edge up from $8.3m to $8.7m even though revenues declined. A rise in pre-tax profit to $10.5m is expected this year. There is uncertainty about US tariffs, but the company can move supply from China to Mexico. The share price increased 25.5% to 29.5p.
Paper and advanced materials manufacturer James Cropper (LON: CRPR) expects to report flat EBITDA of £6.7m for the year to March 2025. Growth in advanced materials did not fully offset the lower paper and packaging contribution to revenues, which is set to remain flat this year. The new chief executive is cutting costs to help profitability of the paper and packaging division, and he will provide an update on strategy in June. The share price recovered 13% to 152.5p.
Vast Resources (LON: VAST) says that there were an additional 6,000 carats of gem quality stones in the parcel held by the central bank of Zimbabwe. This takes the total to 135,000 carats. They will be sold in phases. The share price rose 5.95% to 0.445p, having been as high as 0.485p.
FALLERS
Seaweed-based animal feed Ocean Harvest Technology (LON: OHT) says first quarter revenues grew 65%, but it remains loss making. Further funds are being sought from investors, but it has not yet secured any commitments. There is enough cash until mid-June. The share price slumped 76.2% to 1.25p.
Delays in decision making by customers has led to a downgrading of expectations for 1Spatial (LON: SPA). The geospatial software provider is still growing with annualised recurring revenues growing 14% to £19.7m at the end of January 2025. Group full year revenues were 3% ahead at £33.4m with lower services revenues offsetting software growth. Underlying pre-tax profit improved fell from £2.1m to £1.2m. Despite a downgrade, pre-tax profit is still expected to be £2m this year. The share price dipped 12.8% to 44.5p.
Oil and gas producer Angus Energy (LON: ANGS) has deferred the first principal repayment of £1.25m for the Trafigura loan facility. Discussions continue on changes to the repayment schedule. Tests are going on for the new booster compressor at the Saltfleetby field and Angus Energy is assessing ways of boosting production. The share price fell 6.52% to 0.215p.
Zephyr Energy (LON: ZPHR) published positive initial results from the State 36-2 LNW-CC-R well in the Paradox Basin in Utah. During a two day period steady production rates were equivalent to 700-1,066 barrel of oil equivalent/day. This fits with the P50 estimate of reservoir properties. Further results will be announced. The share price declined 9.18% to 4.45p.