Russian gold-developer and explorer Trans-Siberian Gold (LON:TSG) saw its share price sink on Friday, after warning that profits were likely to fall going forward. The group’s total gold production for the financial year 2017 of 36,714 ounces exceeded previous guidance, but it warned that profits were likely to fall heading in 2018. The miner, who is focused on low cost, high grade mining operations and stable gold production in Russia, forecast production in 2018 of of 36,000oz-to-40,000oz. Revenue remained strong in 2017, up slightly to $43.5 million from $42.2 million the year before. However, “operational challenges” had cut first-half profit to $0.5 million, down from $5.4 million in 2016. “Whilst operations improved significantly in the second half, it is expected that pre-tax profits for FY2017 will be lower than FY 2016,” the company said. Shares in Trans-Siberian Gold are currently down 2.44 percent at 40.00 (0849GMT).

Engineering firm Smiths Group (LON:SMIN) saw shares sink 10 percent on Friday morning after reporting weaker-than-expected first half results. The group’s figures were knocked by a hefty tax impairment charge and weakness in its core businesses, causing pretax profit to fall 12 percent to £217 million. This figure came in well below analysts expectations of £283 million, but the group confirmed its forecast for the full year. Revenue fell 4.3 percent to £1.55 billion, after delays in new product launches at Smiths Medical dragging down overall revenue figures. The group also warned that foreign exchange, at current rates, will remain a headwind for the year.

Annual profits at high street retailer Next (LON:NXT) fell 8.1 percent over 2017, saying that the year had been “challenging in several different ways”. Pre-tax profit fell to £726.1 million, in line with the company’s guidance, with total group sales declining by 0.5 percent to £4.1 billion. In-store sales fell by a whopping 7 percent, marginally offset by an 11.2 increase in sales online. However, the group kept its full-year dividend steady at 158.0p per share. “2017 was challenging in several different ways. A weak clothing market coincided with self-inflicted product-ranging errors and omissions. “At the same time, the business has had to manage the costs, systems requirements and opportunities of an accelerating structural shift in spending from retail stores to online,” the company commented. The group forecast total full-price sales growth of 1 percent for the 2018 year, compared to 0.7 percent growth on the same metric last year. Shares in Next are currently trading up 1.44 percent at 4,695.00 (0810GMT).

Flybe (LON:FLYB) shares sunk nearly 25 percent in early trading on Thursday, after London Southend Airport owner Stobart Group said it wouldn’t be making an offer for the carrier. Stobart Group released a statement this morning saying that it had been “unable to reach agreement on satisfactory terms”. “The board of Stobart Group has determined that it is not in its shareholders’ best interests to increase its latest proposal for Flybe above the level which was rejected by the board of Flybe. “Given this, Stobart Group confirms that it does not intend to make an offer for Flybe”, it concluded. Flybe responded with a statement in which it said it remains “highly confident in the prospects of Flybe” and “believes that the group continues to have an exciting future as an independent company, delivering the sustainable business improvement plan as set out in June 2017.” “This plan is focused on driving sustainable profit and cash generation and will see the fleet size reduce to an optimum level for the number of identified profitable routes and make the business demand-driven rather than capacity-led”, it said. The airline were hoping for a takeover after a spate of profit warnings and a 50 percent drop in profits in the first half of 2017. Shares in Flybe (LON:FLYB) are currently trading down 23.13 percent at 35.90 (0938GMT).

Consumer self-care company Venture Life reported its first profit on Thursday morning, after a strong year of organic growth and international expansion. The group posted a maiden pre-tax profit of £0.1 million for the 2017 year, up from a loss of £1.1 million the year before. Revenues rose 12 percent to £16.1 million, driven by an expanded product range and the strong performance of its Ultra DEX line in the UK. Jerry Randall, chief executive officer of Venture Life, said: “Venture Life has delivered another year of good organic revenue growth across its business, and achieved another of its objectives by delivering a profit before tax for the first time. This coupled with a cash positive H2 2017, means we expect to be sustainably profitable going forward. “Having invested in and established excellent operating leverage within our business, these growing revenues have translated into increasing profitability, with the majority of incremental gross margin falling through to the bottom line. “This again demonstrates the opportunity in our business to grow the bottom line at a faster rate than the top line, and with the recent reorganisation of our plant in Italy, we have increased our capacity such that we can now accommodate twice the volumes of 2017. “Our strategy continues to be a focus on revenue growth, through both organic growth of our existing portfolio and through acquisition. 2018 has started well with our order book ahead of the same point in 2017, and I look forward to another good year of growth for the group.” Venture Life (LON:VLG) shares are currently trading up 14 percent at 49.02 (0921GMT).

Reckitt Benckiser (LON:RB) has pulled out of takeover discussions with Pfizer (LON:PFE) , saying the acquisition of the whole of Pfizer’s consumer health business “did not fit their acquisition criteria”. Reckitt Benckiser had wanted to buy just one part of their business, but they were unable to reach an agreement for that part with Pfizer. On Thursday the group confirmed it had ended the discussions between them. Rakesh Kapoor, Reckitt Benckiser’s chief executive, said: “Our priority remains organic growth, including the completion of the integration of Mead Johnson Nutrition and creating further value from reorganising into two new business units – Health and Hygiene Home. “We always approach inorganic growth opportunities in a rigorous, disciplined, and financially responsible manner to ensure long term value creation for shareholders. An acquisition for the whole Pfizer consumer health business did not fit our acquisition criteria and an acquisition of part of the business was not possible.” Shares in Reckitt Benckiser rose on the news, currently trading up 5.53 percent at 5,937.00 (0907GMT). Pfizer shares are trading steady, down just 0.19 percent at 36.27.

Shares in clothing retailer Ted Baker (LON:TED) dropped nearly 4 percent on Thursday, after the group warned on ‘challenging’ external trading conditions going into 2018. The group performed well over the course of 2017, with group revenue rising 11.4 percent to £591.7 million. The figures were boosted by a 10.4 percent rise in retail sales to £442.5 million, with wholesale sales up by 14.6 percent to £149.2 million. Profit before tax increased by 12.3 percent to £68.8 million. The company went on to warn that unseasonably cold weather had an impact on the early part of trading for the spring/summer season, adding that it expects external trading conditions to remain challenging across many of its global markets. Ray Kelvin CBE, founder and chief executive, added: “Our new collections have been received positively and although we anticipate external trading conditions will remain challenging across many of our global markets, the strength of our brand and business model mean that we remain well positioned to continue the group’s momentum and long-term development. We have a clear strategy for growth across both established and new markets which is underpinned by our controlled, multi-channel distribution as well as the design, quality and attention to detail that are at the heart of everything we do.” Shares in Ted Baker are currently down 3.88 percent at 2,822.00 (0855GMT).

Shares in advertising agency M&C Saatchi (LON:SAA) shot up nearly 5 percent on Thursday morning, after recording record revenue and earnings for the 2017 year. Revenues rose 12 percent to £251.5 million, up by 7 percent in constant currency terms. Profit before tax rose 16 percent to £27.7 million, with headline net earnings up 17 percent. Performance was boosted by the addition of major new business wins including Visit Britain, The Body Shop and Clinique. Sport & Entertainment and PR and Mobile continued to trade well, despite a major performance dip in the Americas, where headline operating profit fell 53 percent. David Kershaw, chief executive, said: “2017 was another record year for M&C Saatchi in terms of both revenue and earnings. Our established strategy of winning new business and starting new businesses continues to deliver. “This year has begun well, and we are confident that we will continue to make good progress in 2018 and beyond.” Shares in M&C Saatchi are currently trading up 4.48 percent at 420.00 (0839GMT).

Employee services provider Personal Group (LON:PGH) saw profits fall in 2017, in direct correlation with the delayed roll-out of a salary sacrifice offering to Royal Mail Group and other customers. Pre-tax profit fell to 9.6 percent to £9.51 million, reporting an Ebitda “marginally ahead” of expectations at £10.8 million. The company increased its dividend by 3.2 percent to 22.7p. The group saw a 77 percent rise in software-as-a-service (SaaS) revenue to £2.7 million from £1.5 million the year before. “As we continue in the current financial year, the company is better placed than ever to realise the significant opportunity presented by the employee services market,” chief executive Mark Scanlon said.