Recruitment firm Staffline (LON: STAF) beat expectations for 2024 thanks to gains in market share. Zeus has raised its 2024 pre-tax profit forecast from £5.6m to £6.2m. However, the 2025 estimated has been cut from £7.8m to £5.6m, reflecting downgraded expectations for the recruitment market and higher interest charges as rates remain higher than previously anticipated. There is also uncertainty about government spending for training that has hit the PeoplePlus subsidiary. Even so, the share price jumped 26.9% to 23.85p, which is eight times downgraded earnings for 2025.
Orosur Mining (LON: OMI) has released further drilling results for the Pepas prospect in the Anza project. The lates four holes include gold grades of up to 7.24g/t. This takes the number of holes with substantial gold intersections to eleven. The share price rose 11.5% to 6.8p.
Online gaming marketing services provider B90 Holdings (LON: B90) moved into profit in 2024 as overheads were slashed. Zeus forecasts a pre-tax profit of €600,000 on revenues two-thirds ahead at €5m. Net cash is €1.1m. Profit and net cash could double this year. The share price moved up 10.9% from its recent low to 3.05p.
Arc Minerals (LON: ARCM) says joint venture partner Anglo American has revealed more results from drilling on copper licences in Zambia. There are relatively high copper grades and thickness. Arc Minerals currently owns 67% of the licences and Anglo American is earning a 70% interest. There could be significant upside if a commercial discovery is made. The share price is 10% higher at 1.65p.
FALLERS
Consumer health products supplier Venture Life Group (LON: VLG) expects full year revenues of £51.8m, including an initial contribution from vitamins acquisition Health & Her, which is still being integrated. This was lower than expected because of destocking in customer brands where revenues fell by 15%. Cavendish has trimmed its 2024 earnings expectations from 4.6p/share to 4.4p/share. Chair Paul McGreevy is stepping down because of a conflict of interest with Revive Active where he is chief executive. The share price declined 4.35% to 33p.
Fuels, food and feed distributor NWF (LON: NWF) reported an improvement in underlying pre-tax profit from £3.4m to £3.6m. Higher contributions from fuels and feed offset a small dip in profit at food distribution, where the new site at Lymedale is taking longer than expected to fill up. There are £600,000 of exceptional costs relating to an investigation into a conflict of interest in contracting transport services and the investigation will be completed by May. Full year pre-tax profit expectations have been maintained at £8.6m. The share price dipped 2.56% to 152p.
Space and defence communications technology supplier Filtronic (LON: FTC) trebled interim revenues and went from loss to a pre-tax profit, excluding the movement in the value of SpaceX warrants and share-based payments, of £7.8m. The momentum is not expected to continue in the second half, where the comparatives are much tougher anyway. Despite investment in new capacity and working capital requirements net cash is £5.1m and it should be much higher at the year-end. There have been two forecast upgrades in recent months, and it is not a surprise that the full year pre-tax profit forecast has been maintained at £11.5m, up £3.4m last year. There is potential for further contract wins, though. The share price fell 2.51% to 97p, but it is still 355% higher than at the start of 2024.
Later this month, helium explorer Helix Exploration (LON: HEX) is undertaking acidisation of the Clink#1 to test capacity to stimulate flow. It will take ten days for the first results. Further production wells are being surveyed at the Rudyard project for drilling in the second quarter. There is enough cash to bring the Rudyard project into production over the next few months. The share price is 2.62% lower at 14.85p.