Eve Sleep Plc (LON:EVE) shares gained 17.5% to 20.80p after reporting a jump in first half profits and revenues.
The online mattress retailer posted a 47% increase in gross profit to £10.2mln in the first six months of the year and a 63% gain in revenue to £18.8mln.
The company said its results fell short of its high expectations but it has taken action to boost future growth, including focusing on fewer core markets, which has reduced costs.
Shares in pharmaceutical company Diurnal Group PLC (LON:DNL) dropped 11.2% to 111p after posting a wider annual loss despite achieving its first commercial revenues.
The group, which specialises in the treatment of chronic endocrine diseases, said its operating loss grew to £16.8mln from £12.1mln last year.
Following the launch of Alkindi in Germany as a replacement therapy of paediatric adrenal insufficiency, Diurnal recorded its first commercial revenue.
SDX Energy shares suspended
SDX Energy Inc (LON:SDX) shares were suspended as a major company evolution was flagged, with the company acknowledging ‘recent press speculation’ that the AIM-quoted oiler is in talks to potentially acquire a “significant package of assets in Egypt”.
If agreed, such a deal would be considered a reverse takeover – which, given SDX’s market cap, would by deduction mean the transaction would be worth at least more than around £115mln.
Either way, SDX shares are now suspended from trading until a further announcement is made.
On to actual movers, Crimson Tide Plc (LON:TIDE) shares climbed 25% to 3.2p after the healthcare focussed technology group announced new contracts with a US drugs company, tied to a ‘patient portal for a ground-breaking anti-cholesterol drug’.
Elsewhere in the junior tech space, IT as a service firm Adept4 Plc (LON:AD4) gained 29% as a legal dispute was settled.
Double-glazed windows and doors group Safestyle UK Plc (LON:SFE) rose 21% on interim results day, despite revenues and gross profit falling 27% and 47% respectively – evidently, there was at least some relief or even some optimism beneath the headline numbers.
A move to potentially acquire Lithium exploration assets in Bolivia got Clontarf Energy Plc (LON:CLON) shares marching on the front foot, rising 7.8% to 0.56p.
N4 Pharma Plc (LON:N4P), meanwhile, topped the loser’s column as its shares shed 2.55p or 38% to 4.15p on the news that, following a strategic review and disappointing clinical results, it is dropping efforts to launch a generic version of Viagra.
Instead, it intends to save resources for investment into its drug delivery system, Nuvec.
Minoan Group plc (LON:MIN) saw its shares drop 23% as it announced it would be disposing of the Stewart Travel Limited business for a headline consideration of £6.56mln as a move to reduce indebtedness.
Bad well news sent Petro Matad Limited (LON:MATD) shares crashing 22% lower, as Snow Leopard 1 (the first in a multiple well programme) failed to find oil or gas. It will now be plugged and abandoned, before the explorer moves on to the Wild Horse 1 location.
French Connection misses out on retail sales boost, shares fall on weak first half
UK consumers may have outspent expectations in August, according to new statistics out this morning, but, positive sentiments evidently aren’t translating to fashion brand French Connection Group PLC (LON:FCCN).
The self-labelled retailer’s shares dropped after posting a 2.4% decline in first-half revenue, blaming difficult trading in the UK retail market.
Group revenue fell to £58.1mln in the six months to July 31 from £59.5mln a year ago as the fashion retailer closed down a number of underperforming stores. Retail revenue dropped 10.5% to £27.3mln with like-for-like sales down 7.0%, accelerating from the 4.1% decline reported last year.
French Connection shares slumped 3.3p or 6.59% to trade at 46.8p.
Elsewhere, Thursday’s early deals saw oil and gas growth stocks moving positively.
Irish partners Providence Resources PLC (LON:PVR) and Lansdowne Oil & Gas Plc (LON:LOGP) were both climbing after confirming the signing of a new binding agreement with their Chinese partner, which has committed to a programme of five wells to advance the Barryroe oil project, in the Celtic Sea.
Providence was up 7.9%, to 11.6p, while Lansdowne gained 10.7%, to 1.55p.
An upbeat half yearly report card from UK offshore oiler Hurricane Energy Plc (LON:HUR) helped its shares add a further 1.76% to 54.5p.
African gold firm Caledonia Mining Corporation Plc (LON:CMCL) was rising, up around 4%, after it lifted its resource estimates for the Blanket mine in Zimbabwe.
Proactive news headlines:
Providence Resources PLC (LON:PVR) can now start the countdown to the start of the Barryroe oil field development, as it today confirms the signing of a binding agreement for its proposed farm-out deal with its new Chinese partners. It promises to deliver Ireland’s first commercial offshore oil project, though the immediate focus will be on preparations for a new drilling programme slated to start next year.
Lansdowne Oil & Gas PLC (LON:LOGP) chief executive Steve Boldy told investors that the Irish explorer is looking forward with “great excitement” as a new binding partnership agreement has now been signed for the Barryroe farm-out.
Drug development services provider hVIVO PLC (LON:HVO) has its strongest sales pipeline for several years, according to chief executive Trevor Phillips. This month the group signed an £11.9mln contract that will start to contribute from October and throughout 2019.
As Hurricane Energy Plc (LON:HUR) counts down to first production, targeted in the first half of 2019, the next milestone will come before the end of this month. The UK oil field developer now awaits the completion of sea trials for the Aoka Mizu FPSO vessel which is said to be in the final stage of upgrades in Dubai.
Shares in Vast Resources PLC surged after it was granted more time to secure financing for its acquisition of a stake in the Blueberry project in Western Romania.
Stobart Group Ltd (LON:STOB) has continued to commercialise its core operating businesses in the six months to the end of August, delivering operational progress in its Aviation and Energy divisions.
Iofina plc (LON:IOF) found the market hard to please on Thursday with a set of interims that revealed an increase in revenue and underlying earnings.
BlueRock Diamonds PLC (LON:BRD) shares jumped in early trading Thursday after reporting a narrowed loss for the first half of the year as average grades and production increased at its Kareevlei mine in South Africa.
Caledonia Mining Corporation PLC (LON:CMCL) has added 13% to the most certain category resource at the Blanket gold mine in Zimbabwe. Measured and Indicated ounces are now 805,000oz, up from 714,000oz in August 2017, from 6.74mln tonnes at a grade of 3.72 g/t.
Frontier IP Group Plc (LON:FIPP) has taken a 10% stake in Amprologix, a spin-out from the University of Plymouth.
NetScientific PLC’s (LON:NSCI) portfolio company, ProAxsis, has had two of its products selected for inclusion in a major upcoming clinical trial into respiratory diseases.
Mkango Resources Ltd (LON:MKA) has received another batch of encouraging assay results from its Songwe Hill development in Malawi. All nine drill holes intersected rare earth mineralisation, with grades in the best five holes up to 2.8% rare earth metals over widths of up to and over 30m.
Eco Atlantic Oil & Gas Ltd (LON: ECO, CVE:EOG) has agreed to increase its interests in the Tamar licence, offshore Namibia. The company has struck a share-based to buy-out partner Amis Oil and Gas Ltd, agreeing to issue 300,000 Eco shares in return for its 10% shareholding in the Pan Africa Oil Namibia Holdings vehicle, in turn effectively increasing Eco’s exposure to the Tamar licence up to 80% (from 72%).
The hot and dry weather in Colorado over the summer months has forced Highlands Natural Resources Plc’s (LON:HNR) partners to revise the fracking schedule at the East Denver project.
Range Resources Limited (LON:RRL) (ASX:RRS) said it has initiated a waterflood programme aimed at increasing water injection and oil production rates from early 2019 onwards as it expands in the South East (SE) area of the Beach Marcelle field in Trinidad.
Jersey Oil & Gas PLC (LON:JOG) chief executive Andrew Benitz said he is “very excited” over the prospects for the company’s key Verbier asset as partner and project operator Statoil advances an appraisal programme. Verbier was discovered with an exploration well almost a year ago, and, Statoil has subsequently put in place plans for a follow-up programme.
Eland Oil and Gas PLC (LON:ELA) has recorded its first ever profit after two new wells at its Opuama field in Nigeria meant production increased threefold.
Europa Metals Ltd (LON:EUZ) (ASX:EUZ) has increased the JORC mineral resources estimates for its 100%-owned Toral lead-zinc-silver project in northern Spain, following its recent re-logging programme of certain historical core samples.
Chaarat Gold Holdings Ltd’s (LON:CGH) Turkish mining contractor has begun deploying equipment at the Tulkubash gold deposit in the Kyrgyz Republic.
Alba Mineral Resources PLC (LON:ALBA) said a team had been dispatched to North Wales to carry out electromagnetic and magnetic geophysical surveys on its gold asset there. It follows the completion of a geochemical assessment of the Clogau-St David's mine area and near-mine extensions, samples from which have been sent for analysis.
Oracle Power PLC (LON:ORCP), which is developing a coal-fired generating plant in Pakistan, is plotting out the next phase of development of project as it eyes sign-off from the authorities. In an update alongside interim results, the company said it will put down a US$700,000 performance bond once the Private Power Infrastructure Board has granted a notice to proceed and formally rubber stamped a letter of intent for the 700MW facility.
Motif Bio Plc (LON:MFTB) (NASDAQ:MTFB), the clinical-stage biopharmaceutical company specialising in developing novel antibiotics, has announced that iclaprim data will be presented at two upcoming scientific conferences – IDWeek 2018 in San Francisco from October 3-7, and the World Anti-Microbial Resistance Congress in Washington DC from October 25-26.