Concepta announces positive outcome from myLotus testing in China
Concepta plc (LON: CPT) announced positive results from the hospital evaluations executed in China on its fertility product myLotus.
Concepta’s product is an alternative to blood testing in the China’s overloaded hospitals. MyLotus allows women to check for pregnancy and ovulation signs at home instead of seeking consultation at the hospital.
The results showed that myLotus is much more accurate than the existing commercial home tests. The evaluation for ovulation testing showed a 100 percent correlation between myLotus and regular blood tests. While, the evaluations for pregnancy testing achieved an impressive 98 percent correlation.
“I have been impressed with the performance of myLotus. This small, hand-held device is providing results that are comparable to large laboratory equipment. It opens up the opportunity for more flexibility in large and smaller hospitals but also for the women at home,” said Dr Yin Hui Rong, principal investigator at the Changhai Hospital Reproductive Centre.
China is the first market for an international launch of myLotus and the UK healthcare company signed last year an additional 3-year exclusive distribution agreement for myLotus with Huanzhong Biotech Ltd and Wanma Technology Co.
With a total market of 2.3 million women a year across the Hebei, Beijing, Lianoing and Shanghai areas, hospitals in China tend to be overcrowded.
“These results give doctors the confidence to recommend that couples should use myLotus to help them increase their chances of conceiving,” said Erik Henau, CEO of Concepta.
Concepta is a pioneer in UK healthcare. Their products target personalised mobile health concentrating mainly on women’s fertility and unexplained infertility.
Concepta shares were up 13 percent, trading at 0.88p, as of today at 12:00 pm (GMT).
Eurozone economy still needs support says ECB President Mario Draghi
The recent volatility in the Euro “needs monitoring” but “by and large the risks to growth are balanced,” said European Central Bank president Mario Draghi at the press conference following the ECB’s rate decision.
The central bank confirmed key interest rates will remain unchanged at record lows, inline with market expectations. In addition, Draghi said they expect them to remain there “well past” the end of its quantitative easing programme.
Some market participants had been looking for a hint of a monetary policy change for 2018.
The bank announced they will keep buying 30 billion euros per month in bonds all through September, more “if the outlook becomes less favourable.”
No big changes were expected from the announcement, but there were big questions over how the ECB was going to tackle the rise of euro against dollar, a fact that is threatening to impact hard on inflation in the euro zone and could affect European exports.
The ECB has been fighting to bring up inflation to about 2 percent but it is not expected for them to meet the goal until 2020.
The euro topped $1.25 as Draghi was giving the press conference this afternoon surging to a new three-year high as doubts about the future of the ECB remain.
Restaurant Group shares fall 2pc as sales figures for 2017 slow
Restaurant Group (LON:RTN) shares fell nearly 2 percent on Thursday morning, after a trading update for the full year to December 2017 showed a drop in sales.
Like-for-like sales for the period were down 3 percent, with total sales decreasing by 1.8 percent. The group called the market conditions over the year “challenging”, adding that despite this they had made progress on their four point plan to deliver long term growth.
The group, who own UK chains including Frankie & Benny’s, Joe’s Kitchen and Chiquito, said it expects to deliver an adjusted pre-tax profit for the full year in line with current market expectations. Andy McCue, chief executive officer, said: “In 2017 we made solid progress against our strategic initiatives, resulting in improved volume momentum in our Leisure business, a lower cost base and a more focused growth plan. While the market has softened, we continue to benefit from strong cash generation and a healthy balance sheet.”
Shares in Restaurant Group are currently trading down 1.59 percent at 260.20 (0855GMT).
Kier Group shares jump 10pc on positive trading update
Kier Group reiterated previous guidance in a trading update on Thursday, saying it was on track to deliver double digit profit growth for the six months to December 2017.
The group confirmed that it had concluded its two-year portfolio simplification programme, in line with previous guidance.
An increase in investment in Property and Residential led to an increase in average net debt during the period, the group said, but the capital employed in these divisions is now at the target level for the purposes of Vision 2020 targets.
“We therefore expect net debt to EBITDA to be less than 1x at 30 June 2018 and for the Group’s year-end and average net debt position to reduce over the period to 2020”, Kier Group confirmed.
The group’s combined Construction and Services order books remain strong at £9.5 billion, with 100 percent of forecast revenue for the 2018 financial year secured, providing good visibility.
Haydn Mursell, chief executive, said: “Our first half performance continues to demonstrate the strength and stability of the business and the benefits of our client focused strategy. We have leading market positions in infrastructure services, building and development which provide the platform to support further growth and position the Group well for the future. The Group remains on course to deliver double digit profit growth in the current year and to achieve its Vision 2020 targets.”
Kier Group (LON:KIE) shares are currently trading up nearly 9.97 percent on the news at 1053.00 (0848GMT).
Anglo American report production increase for Q4
Miner Anglo American (LON:AAL) reported a 5 percent increase in total production in 2017, sending shares up slightly in early trading.
The group reported the figures in their Q4 production report on Thursday, with the increase in total production achieved despite actions taken to remove higher cost volumes in platinum and metallurgical coal, which had resulted in a 2 percent decrease in Q4 compared to the same quarter in 2016.
De Beers diamond production increased by 5 percent, supported by stronger trading conditions, with Gahcho Kué continuing to operate at nameplate capacity.
Copper production increased marginally to 148,600 tonnes, with Collahuasi achieving record production in the year, driven by continued strong plant performance and higher grades. This is in sharp comparison to rival miner Antofagasta’s figures, which were released yesterday, showing a 1.3 percent fall in copper production.
Mark Cutifani, Chief Executive of Anglo American, said:
“We have delivered another strong operating performance in 2017. The 5 percent increase for the full year reflects our ongoing focus on productivity and was achieved despite the removal of unprofitable and higher cost platinum and metallurgical coal volumes, consistent with our disciplined, value-led approach to production.
“The ramp-up of Gahcho Kué and Grosvenor mines made positive contributions to our production profile in 2017, and a strong performance from Sishen resulted in an 8 perceht increase in production from Kumba Iron Ore.”
Shares in Anglo American are currently trading up 0.15 percent at 1739.40 (0842GMT).
Baroness Lane-Fox to champion diversity at Women in IT awards
The fourth annual Women in IT Awards is set to take place at the Grosvenor House Hotel in Park Lane next week, furthering the cause of diversity in the IT and tech industries.
The awards ceremony, organised by Information Age in partnership with Amazon Web Services, will bring together over 1,100 business and technology leaders on 31st January to celebrate the leading women in the IT industry. It is the leading initiative among extensive efforts from the tech world to rectify a gender imbalance in the sector, which sees women occupy just 17 percent of IT roles in the UK.
Ben Rossi, Information Age’s director and the brains behind the event, said the event’s biggest impact was being a “national platform to identify role models” for women hoping to start, or further, a career in IT.
The lack of visibility for women in IT is a big reason why female students are discouraged from embarking on a career in the sector. As Rossi puts it, “you can’t be what you can’t see”.
Last year the event attracted plenty of media attention after the keynote speaker, MI6 chief Alex Younger, revealed that the real-life Q is a woman. This was a big coup for the awards’ organisers, getting the initiative widespread publicity.
The 2018 ceremony, hosted in Grosvenor House Hotel’s prestigious Great Room venue on Park Lane, will be the largest tech-related diversity event ever staged, pipping last year’s audience of 1,000 and bringing together the industry’s top stakeholders. Its keynote speaker will be Baroness Lane-Fox, one of the most successful women in technology and an inspiring role model to further the event’s cause.
Antofagasta copper production falls in Q4
Antofagasta (LON:ANTO) reported a fall in copper production in the fourth quarter, sending shares down in early morning trading.
Production of the metal fell 1.3 percent on the previous quarter, to 177,800 tonnes. Group copper production for the full year was 704,300 tonnes, in line with guidance but 0.7 percent lower than in 2016. The company attributed this to the impact of the expected lower grades at Los Pelambres and Centinela, which was offset by Encuentro Oxides coming into production in October and following the completion of the ramp-up at Antucoya in 2016.
Gold production also fell over the quarter, down 32 percent on the quarter before due to lower grades and recoveries at Centinela.
Antofagasta plc CEO, Iván Arriagada said Antofagasta had had “a strong year operationally.”
“Our disciplined approach to capital allocation has allowed the Group to continue to invest in profitable tonnes throughout the cycle. The new additions to our portfolio at Zaldívar, Antucoya and Encuentro Oxides now account for 25 percent of Group production, helping offset declines at our mature assets and providing Antofagasta with a platform for growth as copper prices recover.”
Shares in Antofagasta (LON:ANTO) are currently trading down 1.68 percent at 950.80 (0855GMT).
Hostelworld shares up after growth in bookings in 2017
Hostelworld (LON:HSW) shares rose nearly 5 percent on Wednesday morning, after bookings shot up over the course of 2017.
In a trading update issued on Wednesday morning, the company reported a 6 percent growth in overall bookings for the year. Growth in the second half flagged however, up just 1 percent on the second quarter of 2016.
Bookings on its flagship Hostelworld brand increased by 13 percent over the year, with growth in H2 2017 of 6 percent.
Chief executive Feargal Mooney said: “We are pleased with the performance of the business in 2017.
“During the second half of the year we delivered an efficient booking mix with marketing costs for the full year marginally lower than our previously guided range.
“We continue to execute well on our strategy and this positions the Group well to make further progress in 2018.”
Hostelworld shares are currently trading up 4.24 percent at 375.80 (0845GMT).
Sage Group shares plummet despite Q1 revenue jump
Software provider Sage Group saw shares fall nearly 5 percent in early trading on Wednesday, despite a jump in revenues in the first quarter.
Group organic revenue increased by 6.3 percent for the first three months of the year, with organic recurring revenue grew by 7 percent. This was underpinned by software subscription growth of 26 percent, with organic software and software related services (SSRS) revenue increasing by 4.
North America saw the strongest performance during the three month period, with management making progress across the US, Canada and Sage Intacct as Sage Business Cloud revenues start to contribute significantly in this highly cloud-adoptive region.
France continued to be a problem area, significantly underperforming in relation to the rest of the Group. This weighed on both organic revenue and recurring revenue growth with recovery expected in the second half of the year, as previously indicated.
Steve Hare, Chief Financial Officer, confirmed that Q1 results remained in line with expectations.
“As we outlined at the time of the full year results, we have invested heavily in sales training in Q1 to set up the business for success, particularly in Sage Business Cloud, resulting in the delay of some revenue into Q2. Quarterly phasing of organic revenue growth is therefore expected to be similar to prior financial years.
“We expect acceleration throughout the year including a stronger Q2 and we reiterate our full year guidance of around 8% organic revenue growth and around 27.5% organic operating margin for FY18.”
Shares in Sage Group (LON:SGE) are currently trading down 4.36 percent at 785.60 (0830GMT).
WH Smith sales fall and CEO warns on future uncertainty
WH Smith (LON:SMWH) sales fell during the 20 weeks to January 20th, despite a rise in sales at airport outlets.
Like-for-like sales for the group overall were down 1 percent, whilst sales at airports and stations rose 7 percent, 3 percent on a like-for-like basis.
High Street sales were the worst hit, seeing a 5 percent fall, with like-for-like sales down 4 percent.
The company confirmed its cost efficiency programme was well underway, with will full-year cost savings expected to be slightly ahead of target at £12 million.
Chief executive Stephen Clarke said the results were delivered against a “very successful period last year”.
“Our travel business now accounts for almost two thirds of the group’s annual profit and we continue to deliver strong sales growth across all our key channels,” Clarke said.
“This was driven by ongoing investment in the business and continued growth in passenger numbers in our airport stores over the Christmas period. Our recently opened new concept store in Gatwick South has performed particularly well and is ahead of plan.”
Looking ahead, Clarke warned on “uncertainty in the broader economic environment”, but added that the group remains confident that it is “well positioned for the year ahead as we continue to focus on profitable growth, cash generation and investing in new opportunities.”
Shares in WH Smith are currently trading down 1.69 percent at 2,096.00 (0816GMT).