The departure of Savannah Resources (LON: SAV) chief executive David Archer has hit the share price, which slumped 30.8% to 2.3p. Dale Ferguson will be interim chief executive. The environmental impact assessment of the Barrosso lithium project in Portugal. Savannah Resources has six months to optimise the design of the project.
Energy supplier Parkmead (LON: PMG) says that its business in the Netherlands is generating record revenues thanks to higher gas prices, enabling a move into profit. This led to a 13.1% jump in the shares to 48.3p. In the year to June 2022, revenues of more than €14.5m were generated, compared with a forecast figure of €12.8m. This strong revenue generation continued into the new financial year. Exploration is being ramped up and two wells could be drilled earlier than previously expected.
Midlands-based property investor Real Estate Investors (LON: RLE) has sold £5.7m of properties so far this year with a further £10m planned. If the significant discount to NAV continues, then a special dividend will be considered. Contracted rental income is still £14m a year and the occupancy level is 85.9%. The share price rose 8% to 37.25p.
A first half trading updated from carbon fibre ceramic brakes manufacturer Surface Transforms (LON: SCE) shows a 240% increase in revenues and it is ready for further significant growth in demand following contract wins. This should help the company move towards profitability. The growth in interim revenues mainly came from Aston Martin Valkyrie production and development projects. The share price moved ahead by 8.1% to 47p.
Ecommerce technology provider Attraqt (LON: ATQT) says that interim revenues are in line with expectations, but it expects investment decisions to be delayed because of weak economic conditions. It is also taking longer for clients to build up to full usage. Annualised recurring revenues have risen by 15% to £23.4m. Attraqt increased last year’s total revenues by 9% to £22.9m but continues to lose money. There was £3.5m in the bank at the end of 2021. There was a 10% dip in the share price to 1.425p.
United Oil & Gas (LON: UOG) did not find any hydrocarbons at the ASV-1X exploration well in the Abu Sennan licence, onshore Egypt. The test results will be reviewed, and options considered. The share price fell 8.1% to 1.425p.
