Haynes Publishing PLC (LON:HYNS) is ticking over as sweetly as a well-tuned engine through its transformation from car manuals to general all purpose do-it-yourself blueprints.
Interim profits rose by a third to £800,000, helped by a good look under the bonnet and some fundamental changes to its key parts.
“We have continued to see good growth across our digital product ranges which now represent 36% of Group revenue, in part facilitated through the update and launch of VESA Mk II, our market leading electronics diagnostic solution.
“We have also completed the outsourcing of Group printing and order fulfilment in the US, which has allowed us to cut significant costs from the business,” said Eddie Bell, chairman.
Shares purred 14% higher to 140p.
Alba Minerals Resources PLC (LON:ALBA) jumped 12% to 0.404p as Horse Hill returned to the agenda again.
An update from the Brockham well, just down the road from HH, from operator Angus Energy sparked a flurry of buying in Alba, which has 5% of Brockham and 15% of Horse Hill.
Angus said Brockham’s Kimmeridge and other formations appear to be the same in structure to the oil-bearing Kimmeridge sections of the Horse Hill-1 well.
Notably, the Corallian formation, which lies immediately below the Kimmeridge, had both oil and gas shows, Angus added.
It was the Kimmeridge formation that set the Horse Hill -1 well flowing at 1,688 barrels a day, a rate that coined the phrase the ‘Gatwick Gusher’.
Lonmin PLC (LON:LMI) was a heavy faller on another disappointing update from the South African platinum miner.
Production has been hampered due problems with its Generation 2 shafts, news that knocked 22% of the share price at 137.8p.
10.00am ..Nu-Oil rockets on tie-up with Chinese drilling contractor
Nu-Oil PLC (LON:NUOG) was one of the early risers as it signed a collaboration deal with CDPL, a drilling contractor owned by Chinese giant CNOOC.
CDPL, headquartered in Singapore, operates a fleet of 8 high specification jack-up drilling rigs.
The collaboration agreement will allow Nu-Oil’s 50% owned subsidiary MFDevCo to use CPDL as a one-stop shop partner in the Marginal Field Delivery Consortium.
Shares rose 22% to 0.5p.
Another good day for Powerhouse Energy PLC (LON:PHE) on news that a demonstration version of its gasification system has left Australia en route for the UK.
“The UK is key to PowerHouse and is where we intend to manage the Company’s operations. It is therefore commercially practical to cultivate relationships with the domestic engineering and waste community, “ said Keith Allaun, executive chairman.
Care home specialist Ashley House PLC (LON:ASH) slumped 15% to 8.25p as it cautioned uncertainty over the level of government funding for supported housing was causing it problems.
Underlying profits fell to £0.2mln (£0.4mln) in the half year to October.