Cloud communications company LoopUp Group (LON: LOOP) sharply reduced its loss in the first half of 2023 and it generated £4m of cash from operations, partly thanks to a fall in trade receivables. Net debt has fallen to £5.6m and bank facilities renewed until September 2024. Annualised recurring revenues are £2.7m. The share price jumped 44.2% to 3.1p. Last September’s fundraising was at 5p.
Keystone Law (LON: KEYS) is paying a special dividend of 12.5p/share on top of the interim of 5.8p/share. Underlying pre-tax profit was one-quarter ahead at £5.7m, while net cash was £11.3m at the end of July 2023. Interest from new principal lawyers is increasing and 25 offers were accepted in the first half. There is plenty of back office capacity for additional lawyers. The share price increased 17.1% to 480p.
Checkit (LON: CKT) increased annualised recurring revenues by 24% to £12.6m by the end of June 2023 and retention rates remain high. The performance optimisation software supplier is adding predictive data analytics to it suite of products. The share price improved 7.4% to 29p.
Full year figures from floorcoverings manufacturer Victoria (LON: VCP) show revenues 43% ahead at £1.46bn and underlying pre-tax profit edging up from £73.8m to £76.9m. Following acquisitions net debt is £658.3m. Cash generation will reduce this debt. The integration of acquisitions will help to improve margins. The share price is 6.19% higher at 618p.
FALLERS
Tungsten West (LON: TUN) says that by January 2024 it plans to have obtained the necessary permits for the Hemerdon mine and additional finance to enable production to resume. The board says that there is currently no demand for tranche C of the company’s convertible loan notes. If there is no demand for them then Tungsten West will not be able to meet its liabilities during November. Alternative sources of finance are being sought. The share price slumped by two-fifths to 2.25p.
Gemfields (LON: GEM) says its interim profit after tax should be $18.1m, down from $56.7m. The shareholding in Sedibelo Resources has been written down by $13.3m to $18.7m because of lower market valuations of platinum group metals companies. The share price fell 10.2% to 13.25p.
In the quarter to August, Andrada Mining (LON: ATM) increased tin concentrate by 86% year-on-year to 398,000 tonnes. There is $7m in cash. Initial tests of the lithium pilot plant have commenced. The share price slipped 6.41% to 7.3p.
Liberum has downgraded its 2023 forecast for advertising firm M&C Saatchi (LON: SAA) after its latest interims. Clients have been spending less and revenues fell 7% to £120.4m. Interim pre-tax profit slumped from £16m to £8.8m. Net cash was £15m. The 2023 pre-tax profit forecast has been cut from £33.1m to £27.9m, still representing year-on-year growth in the second half. Forecast earnings are 14.7p/share. The share price is 3.46% lower at 125.5p, having fallen below 121p at the start of the day.
Ex-dividends
Belvoir (LON: BLV) is paying an interim dividend of 5p/share and the share price fell 4.5p to 229p.
Camellia (LON: CAM) is paying an interim dividend of 44p/share and the share price dipped 75p to 4960p.
Colefax (LON: CFX) is paying a final dividend of 2.8p/share and the share price is unchanged at 760p.
DSW Capital (LON: DSW) is paying a final dividend of 2p/share and the share price slipped 1p to 63.5p.
Franchise Brands (LON: FRAN) is paying an interim dividend of 1p/share and the share price is unchanged at 162.5p.
Lendinvest (LINV) is paying a final dividend of 3.2p/share and the share price fell 4.5p to 44.5p.
Lords Group Trading (LORD) is paying an interim dividend of 0.67p/share and the share price slipped 0.5p to 61p.
Vector Capital (LON: VCAP) is paying an interim dividend of 1p/share and the share price is unchanged at 39.5p.
Vianet (LON: VNET) is paying a final dividend of 0.5p/share and the share price declined 2p to 76.5p.
