Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Investments and investor services

Proactive news summary: ATTRAQT, Cohort, Forbidden Technologies, Planet Payment, StatPro. Tango Mining, Tern

Everything's going to the Cloud in the IT world by the looks of things.

The forecast for this round-up is decidedly cloudy, or, more accurately (since it is a proper noun), Cloudy.

Cloud and mobile IT investment company Tern (LON:TERN) said the value of its portfolio has risen more than four-fold over the past 12 months.

Shares in the group have almost trebled since July and today it revealed total assets at end June of £1.2mln compared to £285,000 a year ago.

Rosslyn Data Technologies (LON:RDT) revealed it had won a contract with an unnamed Fortune 500 company that will replace its own analytics platform with Rosslyn’s RAPid Cloud-based system.

There will be four separate “deployments” of the application, although the AIM-listed group reckons there is scope to expand the co-operation.

Results for the first half of 2015 from StatPro (LON:SOG), the portfolio analytics provider, showed its progression to Cloud services remained on track, though profitability has, as expected, been dampened during this period of heavy investment in the product line.

The dividend was maintained even though pre-tax profit fell by almost a quarter to £0.8mln from £1.08mln a year earlier, while underlying earnings (EBITDA) fell 15% to £1.73mln.

Half year revenues at the software firm fell by 2% to £15.4mln, though on an annualised basis there was a 4% rise to £28.6mln.

Forbidden Technologies (LON:FBT) says its Cloud-based video platform will benefit from a newly developed third-party video codec (coder/decoder).

Blackbird 8, the new codec, which allows more efficient file compression, is deemed to be particularly advantageous for mobile users; notably because it could halve the amount of power used in processing and therefore drain the battery less.

Elsewhere in the tech sector, ATTRAQT (LON:ATQT) has quickly set about a new product offering capitalising on its tie-up with YUDU Media, which creates digital catalogues for mobile devices.

A newly signed memorandum of understanding positions the new partners for new customer wins as well as cross-selling opportunities.

The defence technology specialist Cohort (LON:CHRT) is making its first acquisition outside the UK with the €19mln (£13.3mln) takeover of Investigação e Desenvolvimento de Electrónica (EID).

The addition of Portuguese military communications business, which will be funded using debt, is expected to be immediately earnings enhancing.

Minds + Machines (LON:MMX) has signed up two of the world’s top law firms to its new .law domain name.

DLA Piper, one of the world's largest business law firms, and Skadden, Arps, Slate, Meagher & Flom, a leading international law firm, are the two early adopters, M+M said.

The machine that is global payments specialist Planet Payment (NASDAQ:PLPM) continues to motor as the group reported an improved financial performance in its second quarter.

The group saw around a 26% increase in net income to US$1.9mln in the three months to end-June compared to US$1.5mln in the same period of 2014, while there was a 7% uptick in revenue to US$12.7mln versus US$11.9mln in 2014.

Adjusted underlying earnings (EBITDA) for the quarter was US$2.9 million compared to US$2.8 million for 2014, as its continued cost trimming continues to improve profitability.

Did someone mention motoring?

Niche lender S & U (LON:SUS) revealed its motor finance arm continues to trade at record levels as it posted a half year update.

Chairman of the group Anthony Coombs also heralded an "exciting new era" for the firm following the sale of its home credit division Loansathome4u to NSF, which completed yesterday (August 4).

Gross receivables have just reached £200mln for the first time. Transaction volumes cumulatively this year are slightly down on the record levels seen in the first half of 2014 but have picked up in recent weeks and the board believes should exceed record annual budgets.

On to the mining sector and Coal of Africa (LON:CZA), which has found a partner for its Makhado project in Limpopo, South Africa after Singapore-based investment company Yishun Brightrise agreed to buy 183mln shares in the company (equivalent to a 9.5% stake) for £9.4mln (5.15p per share), with Coal of Africa hoping for further investment.

Tango Mining (CVE:TGV) provided an update on its continuing bulk sampling programme at the Oena project.

The TSE Venture-listed firm said its first diamond tender closed on 28 July 2015 and the diamonds were sold at an average of US$2,480/carat (ct), while the highest price received was US$6,016/ct and the average stone size was 3.28 ct.

Based on tonnes (t) processed to date the grade was 0.278 carats (ct) per hundred tonnes (cpht). The National Instrument (NI) 43-101(i) resource estimate was 0.12 cpht with an average stone size estimate of 1.22 ct per stone, Tango disclosed.

A total of 20,047t of the 35,688t of diamond bearing gravels mined were processed recovering a total of 47.64 ct.

Jubilee Platinum (LON:JLP) remains on-track with its plan to bring its two platinum surface projects into operation as it revealed it had raised £2.442 million in a share placing.

The group placed around 71.8mln shares at 3.4 pence each - a premium of 3.3% to the 30 day weighted average price as at yesterday (Aug 4).

Forte Energy (LON:FTE) is negotiating a no win – no fee deal with its lawyers the Slovakia handling its appeal against the Ministry of Environment.

Forte started legal proceedings in June after its Ludovika joint venture had an extension of its uranium permits at Kuriskova turned down.

Stratex International (LON:STI) expects to complete construction of the Altintepe gold mine in Turkey imminently with the first gold pour on track for the end of next month.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK