2:00 pm: Moneysupermarket slumps as it continues to lag behind the opera singer and the meerkat
Moneysupermarket (LON:MONY) shares slumped, down 48.6p or 14.78% changing hands at 280.2p, after financial results fell short of expectations.
The price comparison website operator also delivered a cautious outlook, with growth expected to lag its peers. Specifically, Moneysupermarket has struggled to bring in enough customers into its collective bargaining ‘energy switch’ promotions.
Elsewhere, transport firm Go-Ahead Group Plc (LON:GOG) shares were up 190p or 14.2%, trading at 1,528p, in the wake of interim results that showed a ‘good’ performance and an upgraded outlook for the full year.
11:30 am: Moneysupermarket slumps as it continues to lag behind the opera singer and the meerkat
Albert Technologies Ltd (LON:ALB) shares rose 11% to 33.50p after the maker of artificial intelligence marketing platforms said it has agreed a partnership with a top advertising agency to work on a pilot project.
The agency pilot will combine Abert’s digital marketing technology with the global reach of one of the top five global advertising agencies.
It is expected to be completed during the second half of 2018 and if successful, will be followed by long-term commercial agreement.
“This pilot demonstrates the change in perceptions in the marketing industry, whereby large global agencies, channels and brands acknowledge the potential for artificial intelligence to become a crucial part of their decision-making processes,” said Albert chief executive Or Shani.
The leisure company, which owns a 84% stake in Mediapolis, said it was assessing the ruling by the Turin Appeal Court to consider an appeal in the Italian High Court.
A winding-up request was filed against the company last June by the court prosecutor of Ivrea in Turin, Italy.
Clear Leisure has also received a ‘creditor ranking’ proposal from the appointed receiver of Mediapolis with final approval of the plan due to take place on February 23, subject to the ruling of the Bankruptcy Court.
10.00am: LAP rallies on Brixton Markets sale
The company said it was selling Market Row and Brixton Village, part of the markets, to an undisclosed “private group of companies”.
Shares rose 26% to 28.5p in morning trading.
LAP bought Brixton Markets as part of the Atlantic Group of Companies in 2006. It plans to use £16mln of the proceeds from the sale to repay debt with the rest to be added to its cash reserves.
“Brixton Markets were in a state of decline when we acquired them, with significant levels of voids,” said chief executive John Heller,
“Following a programme of intense and proactive management, we are proud that today they are home to arguably the most vibrant restaurant scene in London.
“We will now look for new projects where we can use our management skills to create similar strong levels of growth.”
Xpediator PLC (LON:XPD) shares rose 12% to 43.5p as it said 2017 revenues are expected to rise 59%, boosted by acquisitions.
The UK provider of freight management services also said trading profit is expected to be “significantly ahead of the previous year”.
The group delivered strong trading across all three of its divisions and results included a £10mln revenue contribution from three acquisitions completed during 2017.
It posted a net loss for the year of £2.2mln, up from £1.6mln a year ago, and revenues of £29,395, down from £71,359.
Anthony Sanders, who became interim chief executive after Deborah White resigned in September, said it had been a “challenging year” that saw a shift in the company’s management and its strategic focus.
Starcom PLC (LON:STAR) is under the cosh after saying it expects to report a 2017 loss.
The company, which makes wireless trackers, said it is likely to report a consolidated net loss after taxation “materially higher” than the breakeven to small loss previously indicated.
“The major variances relate to share-based payment costs, unrealised exchange differences and certain holding company costs,” it said.
Shares fell 25% to 2.5p.