3.15pm: CloudCall answers the call
Cloud-based communications specialist CloudCall Group PLC (LON:CALL) climbed 4.5% to 104p on the back of a contract win.
The contract, with a major US recruitment agency, is worth a minimum of £1.1mln over three years, and will see CloudCall's integrated unified communications services rolled out to nearly 2,000 staff before the end of the year.
"This contract win will also contribute strongly toward our stated aim of growing our user base by over 1,000 new users per month in 2019,” said CloudCall's chief executive officer, Simon Cleaver.
2.15pm: Vianet in good shape
Vianet Group PLC (LON:VNET), which provides information from machines connected to the Internet of Things, rose 4.7% to 132.5p after it unveiled improved earnings.
The company, formerly known as Brulines when it specialised in technology that told publicans how much beer they had left in their barrels, said underlying profit before tax in the year to the end of March was up 30% year-on-year.
"The group is in good shape to deliver strong earnings growth and enters FY2020 with solid momentum and focus on our exciting opportunities," said James Dickson, the chairman of Vianet.
1.15pm: AO World remains in the red despite new mobiles addition
AO World PLC (LON:AO.) confirmed an improvement in annual sales but still saw its shares slide 6.9% to 102.4p.
The electricals and white goods retailer lifted revenue 10.1% in the UK and 32.2% in Europe during the 12 months to 31 March, resulting in total revenue rising 13.3% to £902.5mln, as it had flagged up in a year-end statement.
Group underlying earnings (adjusted EBITDA) remained in the red at £0.4mln, but this was an improvement on the £3.4mln losses from the prior year.
“Like something out of a Greek myth, online white goods retailer AO World keeps pushing the ball up the hill in terms of growing customer numbers, yet the losses continue to mount up,” said AJ Bell's Russ Mould.
“Founder John Roberts, who returned as CEO in January, has an ambition to make trading in Europe profitable by 2021 but, unlike its products, this doesn’t come with a warranty and will likely be treated with a healthy dose of scepticism until it can be delivered,” Mould added.
12.30pm: Chamberlin founders after disappointing results
Shares in foundry operator Chamberlin PLC (LON:CMH) fell 9.5% to 38p following the release of grim full-year results.
Although each of its businesses grew during the year, the performance of its principal foundry operations deteriorated in the second half, with its automotive turbocharger customers reducing their schedules.
Chamberlin said this deterioration partly reflected upheavals in their activities as the car manufacturers adjusted their offerings in response to the new emissions testing regime and took account of wider trading conditions.
11.45am: Driver shifts sharply into reverse
Driver Group PLC (LON:DRV) lost a sixth of its value at 50.5p after it reported lower activity than expected in the six months to end-March.
“We have reacted quickly to re-align the cost base of underperforming businesses in the first half and with enquiry rates at high levels the group is well placed to record good progress for the remainder of the current financial year,” said Steve Norris, the chairman of the claims and dispute managment group.
It is less than six months since the company reinstated its dividend and it looks like the recovery story could already be over.
11.15am: Gooch & Housego warns on profits as laser demand is hit by China-US trade war
Shares in Gooch & Housego PLC (LON:GHH) lost more than a fifth of their value at 1,050p after the optical components manufacturer warned on profits.
The company said its full-year profits would be £3.5mln-£4mln lower than expected as the US-China trade dispute hits demand for industrial lasers.
Reporting results for the six months to 31 March, the AIM-listed company said, while laser orders had increased in the second half, it was “assuming that industrial laser business will not return to 'normal' levels in FY 2019” and that it will only supply “known/high-certainty orders” as the trade dispute rumbles on in sync with a downturn in the semiconductor equipment and microelectronics sectors.
10.30am: Keras lifted by drilling update from Warrawoona
Keras Resources PLC (LON:KRS) shares were up 7.1% at 0.375p after some good news from the Warrawoona Gold Project, in which it has a stake.
Calidus Resources, the owner of the project, in the Pilbara region of Western Australia, has reported “outstanding first assays” from the regional drilling programme.
Keras currently has a 32.3% stake in Calidus Resources.
9.30am: Renalytix AI and Vp make the early running
Renalytix AI PLC (LON:RENX), a developer of artificial intelligence-enabled clinical diagnostics for kidney disease, rose 8.9% to 220p in early morning trade on Tuesday after passing a manufacturing milestone.
The company said its in-vitro (test tube) diagnostic manufacturing programme has reached a critical development milestone for the production materials used to measure blood-based biomarkers in the KidneyIntelX diabetes test.
Large quantities of the critical materials have been successfully produced and have met the stringent quality control specifications required to scale up manufacturing for commercial production, Renalytix said.
Elsewhere, the equipment rental specialist Vp PLC (LON:VP.) rose 8.4% to 802p on the back of well-received full-year results.
"Vp has started the new financial year positively and in line with our expectations. We anticipate that our main markets in the UK will continue to be supportive, but with slightly slower overall growth than experienced in recent years influenced by the current political and economic uncertainty,” said Neil Sothard, the group's chief executive officer.
For the year just gone, the company reported profit before tax of £33.6mln, up from £30.8mln the year before, paving the way for a 16% increase in the full-year dividend to 30.2p.
Proactive news headlines:
Active Energy PLC (LON:AEG) expects its new CoalSwitch manufacturing plant at Lumberton, North Carolina to begin operations 'shortly'. All the key equipment is en route from its previous site in Utah to its new location and should arrive this week.
Digital marketing and services group Be Heard Group PLC (LON:BHRD) has won the best contract in the world (probably) with Carlsberg UK.
EQTEC PLC (LON:EQT), the waste gasification to energy project specialist, is to jointly develop a biomass gasification power project in California, USA. It is the first agreement to result from the framework agreement, announced last month, with California-based firm Phoenix Biomass Energy to develop biomass gasification power plants in the US.
Horizonte Minerals PLC (LON:HZM)(TSE:HZM) has completed test work on samples of limonite ore from the Vermelho nickel-cobalt project in the Carajás mining district of Pará state, northern Brazil. The company was able to produce a high purity product containing 21.8% cobalt, exceeding the reference grade used for sulphate pricing.
Tissue Regenix Group PLC (LON:TRX) said current trading was in line with expectations as it confirmed it had secured a US$20mln credit facility that would allow management to invest in growth. MidCap Financial Trust is providing a US$15mln, five-year loan, a three-year revolving line of credit and further US$2mln revolver if needed.
Oncimmune Holdings PLC (LON:ONC) said a large-scale lung cancer study it was a pivotal part of was a success. The company’s EarlyCDT-Lung test was used alongside x-rays and CT scans to check for the killer disease.
Chaarat Gold Holdings Ltd (LON:CGH) has boosted reserves at the Tulkubash gold project in Kyrgyzstan by 39% to 22.2mln tonnes. Chaarat’s new feasibility study for Tulkubash envisions production running at 94,000 ounces of gold per year, at an all-in sustaining cost of US$819 per ounce.
discoverIE Group PLC (LON:DSCV) has upped its final dividend following a strong uplift in profits for its latest full year. The custom electronics maker reported an underlying pre-tax profit for the year ended 31 March of £27.2mln, 24% higher than the year before, while revenues climbed 13% to £438.9mln.
Coinsilium Group Limited (LON:COIN) is to provide advisory services to blockchain business data platform OASISBloc in relation to an initial exchange offering (IEO).
Pembridge Resources PLC (LON:PERE) has signed a definitive share purchase agreement with Capstone Mining Corp for the acquisition of the Minto copper, gold and silver mine in the Yukon, Canada. The consideration comprises up to US$20mln in total payments due to Capstone.
Alba Mineral Resources plc (LON:ALBA) has raised £500,000 of new capital to support the maiden drill programme at the Amitsoq graphite project in Greenland. Funds will also be directed to ongoing operations at the Clogau gold project in north Wales and the Limerick base metals project in the Republic of Ireland. Alba sold 250mln new shares, priced at 0.2p, in order to raise the funds.
Bluejay Mining PLC (LON:JAY) closed out the year ending 31 December 2018 with £8.85mln of cash, after booking losses before tax of £10.7mln. During the period the company continued to make progress on the development of its Dundas Ilmenite project in Greenland.
Providence Resources PLC (LON:PVR) told investors that a proposed well site survey for the Dunquin South exploration prospect won’t go ahead in the 2019 work programme. The company and its partners in the Frontier Exploration Licence 3/04 made a decision to defer the survey.
Tower Resources PLC (LON:TRP) says 2019 will be a crucial year for the company in many ways. The company, in its financial results statement, highlighted that it is realising plans for the Thali license in Cameroon which could transform the group, meanwhile, it said that assets in Namibia and South Africa are attracting lots of industry attention.
Wishbone Gold PLC (LON:WSBN) has revealed a delay in the publication of its annual accounts due to a requirement from its Australian auditors for a valuation of the group’s mineral properties in Australia. The AIM and NEX-listed group said this has resulted in an increase in value in the properties which will be fully explained in the accounts when issued. Big Pic in March.
Amur Minerals Corporation (LON:AMC), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, said that, under the convertible loan agreement entered into on 22 March 2019, it has today issued 4,025,034 new ordinary shares in the company to Cuart Investments PCC Ltd and YA II PN Ltd in settlement of US$108,153 of principal and accrued interest.