Mobile wireless infrastructure specialist Filtronic PLC (LON:FTC) had good news and bad news in its latest trading update.
The good was that revenues soared to £21.6mln in the half year to November, while there was a bounce into operating profits of £1.8mln compared to a £4.1mln loss.
But a note of caution from chairman Reg Gott keep the celebrations muted.
“The phasing of customer order fulfilment for FY 2017 has been significantly biased to the first half and, consequently, we expect revenues to be lower in H2 2017.”
Investors took that comment on board and knocked the share price down 12% to 12p.
Applied Graphene Materials PLC’s (LON:AGM) new chief financial officer has earned some brownie points even though he doesn’t start work until April.
He has bought 14,500 shares at 138p, a show of confidence sufficient to put almost 15% on the share price to 156p.
12.45pm...Premier African Minerals Limited rockets on new fund raise
Premier African Minerals Limited (LON:PREM) rocketed higher as it agreed and £1.2mln share subscription and scrapped its finance agreement with Darwin.
The junior miner said it is now fully financed to bring its RHA tungsten mine in Zimbabwe into production.
George Roach, chief executive, will put up a further £200,000 at the same price of 0.19p.
RHA's indebtedness to Premier of approximately US$20mln becomes repayable when the mine starts commercial production.
Throughput is planned to increase steadily to the monthly production target of 7,500 metric tonne units (mtu) and at this level RHA would be expected to generate a monthly net positive cash flow on an EBITDA basis of US$200,000, said the company.
Shares rose 37% to 0.31p.
Software house Sopheon PLC (LON:SPE) has seen a strong performance in the second half of 2016, driven by a large number of license orders in the final quarter, including substantial activity with major enterprise customers.
In addition, profitability of the business was further enhanced by cost efficiencies over the course of the year.
"Underlying profits [EBITDA] will be ahead, and pre-tax profits significantly ahead", of current market expectations as a result.
Torotrak plc (LON:TRK) slumped as it warned its diesel superchargers are being overtaken by newer electric vehicles.
The major car companies like the product, but have said their focus now is on the mass market potential of 48v hybrid electric vehicles.
Adam Robson, chief executive said: "The clear shift towards electrification and the move away from diesel engines that has occurred across the industry over the last few months has forced mainstream passenger car Tier 1s and OEMs to refocus their investment on electrification projects.
Going forward, the focus will be on KERS (kinetic energy recovery system) for off-road vehicles.
Shares tumbled 45% to 1p.
9.30am...Gloves agreement with Wilko fits nicely with Symphony
Biodegradeable plastics specialist Symphony Technology International (LON:SYM) jumped 30% as it forecast a move into profit and signed a sales agreement with Wilko.
Sales in 2016 will be £6.8mln, with cost cutting enabling the group to show a profit, while a new range of antimicrobial household gloves using Symphony’s technology will be stocked by the retail chain.
Shares rose 22% to 5.63p.
Vast Resources PLC (LON:VAST) was another riser as it sold half of its stake in the Pickstone-Peerless gold mine in Zimbabwe, with the proceeds to go towards developing its interests in Romania.
“We have been presented with a uniquely exciting opportunity to re-commission numerous high value brownfield mining assets across Romania,” said chief executive Roy Pitchford.
SSCG Africa Holdings will pay US$4mln for just under half of Vast’s 50% stake in the Zimbabwe gold mines and also loan it a further US$4mln. Shares climbed 28% to 0.40p.
Jiasen International Holdings Limited (LON:JSI) tumbled as the China-based timber products group proposed de-listing from AIM and switching to the NEX market. Shares dropped 25% to 3.78p.