Ceramics and giftware company Portmeirion (LON: PMP) beat sales expectations by £4m in 2022. Currency movements helped, but there were additional volumes with the UK doing better than anticipated. Pre-tax profit should be £8m. Energy costs are hedged until the first quarter of 2024. The share price jumped 17.1% to 377.5p, which means that Portmeirion is valued at eight times estimated earnings.
Digital marketing services provider The Mission Group (LON: TMG) says 2022 revenues grew by 10% and pre-tax profit was at least £7.6m. Net debt was higher than expected at £11.4m. There will be restructuring and other one-off charges of £6m. Revenues and margins are expected to improve this year. The share price rose 11.1% to 50p.
Parkmead Group (LON: PMG) says a gas discovery has been made at the LDS-01 well on the Drenthe VI concession – Parkmead has a 7.5% interest. A second well is being drilled and after that the discovery will go into production. First gas production should be before the end of the first quarter. The discovery has added 2p a share to finnCap’s Parkmead valuation, although UK energy taxes reduces the valuation, so it is 184p a share. The share price increased 7.4% to 56.5p.
Credit provider Morses Club (LON: MCL) is cancelling its AIM quotation and the share price dived 69.8% to 0.35p. Morses Club needs to save cash to contribute to the compensation fund that is part of the scheme to keep the company going.
Spirits company Distil (LON: DIS) says third quarter revenues almost halved to £411,000. The UK removal of the UK distributor and stock reductions hit the period. Full year revenues will be worse than expected. The share price slumped by 44.4% to 0.5p.
Customer engagement software provider Pelatro (LON: PTRO) shares are continuing their downward trajectory following Tuesday afternoon’s profit warning. There was a further decline of 31.9% to 6.25p.
Virgin Wines (LON: VINO) was hampered by problems with its new warehouse management system, which led to lost revenues and higher costs. There was also lower spending by clients. There were 60,000 additional customers in the first half. Forecast full year revenues have been cut from £69.1m to £63m, while pre-tax profit estimates have been slashed from £4.3m to £1.8m. The share price slipped 29% to 51.5p.
Digital media company Digitalbox (LON: DBOX) says 2022 profit is broadly in line with forecasts even though revenues were lower than expected. It appears that the tough advertising market is not going to change in the short-term. The share price fell 11.4% to 7.75p, which is ten times estimated 2022 earnings.
Ex-dividends
Character Group (LON: CCT) is paying a final dividend of 10p a share and the share price fell 2.5p to 425p.
Caledonia Mining Corp (LON: CMCL) is paying a dividend of 14 cents a share and the share price is unchanged at 1145p.
Dotdigital (LON: DOTD) is paying a final dividend of 0.98p a share and the share price declined by 0.9p to 83.3p.
Focusrite (LON: TUNE) is paying a final dividend of 4.15p a share and the share price increased by 5p to 765p.
Origin Enterprises (LON: OGN) is paying a final dividend of 12.85 cents a share and the share price is unchanged at 435 cents.
Premier Miton (LON: PMI) is paying a final dividend of 6.3p a share and the share price fell 6.5p to 114.5p.