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Nanoco hit by order shortfall

Last updated: 15:00 04 Apr 2017 BST, First published: 09:26 04 Apr 2017 BST

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Quantum dots specialist Nanoco Group plc (LON:NANO) has lowered its full year expectations as sales have failed to materialise in the second half.
Shares fell 13 % to 31.25p.

First commercial sales of its products should come through in the second half but Nanoco has contingency plans in the event that sales are further delayed.

Operations will be restructured if it doesn’t generate any sales.

"Nanoco is engaged with more near term commercial opportunities than at any time in its history, so it is frustrating not to be able to report significant revenues to date and it is essential that sales commence as expected,” said chief executive Michael Edelman.

Online media and entertainment firm PCG Entertainment Plc (LON:PCGE) slumped as it is looking for a partner for its Client Provider Authorization from the Kahnawake Gaming Commission in Quebec, Canada.

The CPA allows PCG to provide interactive gaming services from the region. The Asia Pacific-focused group also updated investors on what was said at an investor event over the weekend.

Hague and London PLC  (LON:HALO)  is in late stage discussions regarding a potential acquisition that would amount to a reverse takeover under AIM Rules.

Shares in the oiler were suspended after the announcement but not before they had added 21% to 11.94p.

Flowtech Fluidpower plc (LON:FLO) saw sales rise by 32% in the three months to March

Performance was driven by positive momentum in all business divisions, enhanced by the contribution from our new subsidiaries, said the hydraulics specialist.
Shares rose 6% to 136.1p.

 

 

9.15am...Sophos booming as cyber security fears rise

Security software group Sophos PLC (LON:SOPH) jumped 10% to 300p as it reported a very strong end to the fourth quarter.

Billings shot up by 27% even before a contribution from recent acquisition Invincea and for the full year will be 20% ahead on a constant currency basis.

Even with an adverse currency effect, reported billings will be 18% ahead at US$630mln from US$535mln in the year to March.

That compares to consensus forecasts of US$610mln to US$617mln.  

“Consequently, cash EBITDA and unlevered free cash flow are also expected to be ahead of the consensus range."

AdEPT Telecom plc (LON:ADT) was another beneficiary of a very strong trading update.

“Underlying EBITDA will be around 26% ahead of the previous year compared to market forecasts of an 18% rise year-on-year.

Turnover is expected to be approximately 16% ahead of the previous year and above market consensus expectation.

Shares rose 12% to 355p.

Empyrean Energy PLC (LON:EME), meanwhile, has bought a 20% stake in the Duyung production sharing contract (PSC) in Indonesia from Conrad Petroleum .

The Permit includes the 'Mako' shallow gas discovery that contains 2C and 3C resource of 430-65 Bcf recoverable gas

Mako South-1 well is scheduled be drilled wither this quarter or next to undertake flow test and establish reservoir quality.

An open offer will provide additional funding, Empyrean said.

Shares rose 8% to 4.17p on a volatile morning for the price.

 

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