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Immedia hits bum note with profit warning

A look at the day's major movers, including Altitude, Mporium and Zinc Media.

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Immedia Group PLC (LON:IME) plunged 7p to 11p after a profit warning.

The provider of digital content is experiencing delays in both existing and new business channels where previously it had been close to securing additional opportunities.

“We are expecting the remainder of the year to be difficult but we remain very confident that incremental revenue streams will be delivered, albeit on a more extended timescale than previously envisaged,” said Bruno Brookes, the chief executive officer of Immedia and former Radio One DJ.

2.15pm: Bushveld delivers a robust performance

Bushveld Minerals Limited (LON:BMN) rose 2.7% to 21.25p after a well-received set of interims.

It delivered a robust performance in the face of weaker vanadium prices that left it in a strong financial position moving into the second half.

On revenues off modestly at US$78mln, the South Africa-focused group delivered profit after tax US$2.3mln higher at US$30.8mln for the six months ended June 30.

1.00pm: Less than world-conquering update from Alexander Mining

Five days after upsetting shareholders with news of a plant to become a cash shell, Alexander Mining PLC (LON:AXM) was back in the doghouse Monday.

Half-year results gave a clue as to why the company is exiting its current line of business; loss before tax was £235,000, which was at least an improvement on last year’s loss of £276,000.

Management said it expects further funding will be required in the next 12 months.

Shares in Alexander were down one-sixth to 0.03p; a year ago, they were trading at 0.118p.
 

11.45am: Concepta narrows losses; announces collaboration with Manchester fertility clinic

Concepta PLC (LON:CPT), the company behind the MyLotus home-use fertility tracking and pregnancy testing system, laid an egg with its half-year results.

The shares were off 10% at 1.55p as the company posted a slightly narrower loss of £1.33mln for the first half of 2019, compared to £1.51mln the year before.

On the plus side, the company announced its first UK fertility clinic collaboration, which is with Manchester Fertility.

11.00am: Aeorama shooting for higher-margin business

Aeorema Communications PLC (LON:AEO), the live events organiser, surged 9.6% to 28.5p after it implied the current fiscal year should see higher margins.

“Whilst the group has delivered an unusually high number of low profit margin events during the year, new events to be delivered in 2020 are expected to have higher gross profit margins. Despite this, the group has delivered a highly successful and profitable year,” declared Mike Hale, the chairman of the group.

Profit before tax in the year to the end of June rose to £375,010 from £58,685 the year before.

10.10am: Altitude on a high as its US operations turn profitable

Altitude Group PLC (LON:ALT) was hitting the heights, rising 18% to 54.5p, after it said its US business is now profitable and generating cash.

The promotional products group’s said revenue in the first half of 2019 was up 43% to £5.4mln from £3.8mln the year before.

The loss before tax widened to £930,000 from £736,000 the year before.

9.30am: Mporium slumps after acquisition and fund-raising

Digital marketing technology firm Mporium Group PLC (LON:MPM) shed almost half of its value after announcing an acquisition and fund-raising.

The shares slumped 46% to 0.45p as the company said it would buy Click Labs, a performance-based digital agency, for a maximum of £5.5mln, most of which will be satisfied through the issue of 400mln shares at an assumed value of 0.5p.

The company has also raised £1.25mln by placing shares at a halfpenny each.

Zinc Media PLC's (LON:ZIN) recent good run came to an end as the shares slumped 19% to 0.27p following the release of the multimedia content producer's full-year results.

Mark Browning, the chief executive officer appointed in December, warned shareholders that the current fiscal year would be a “transition year for the group as it addresses the “profitability challenge” it faces.

The year just ended (to 30 June) was one of deeper losses, with a loss before tax of £2.86mln, versus a loss the year before of £1.81mln.

Proactive news headlines

Synairgen PLC (LON:SNG), the respiratory drug discovery and development company, is well-poised to complete the phase II trial on its lead candidate.

Columbus Energy Resources PLC (LON:CERP) told investors that its plan to drill the Saffron prospect has been approved by Trinidad’s Ministry of Energy and Energy Industries.

Arix Bioscience PLC (LON:ARIX) said it co-led a €20mln series-A investment round in a spin-out from Aarhus University, Denmark, that further strengthens its position in oncology.

Oriole Resources PLC (LON:ORR) is expanding its footprint in Cameroon, following early success at the Bibemi and Wapouzé gold projects where it is earning up to a 90% interest.

Alba Mineral Resources plc (LON:ALBA) will be keenly watching progress at the Horse Hill oil project, onshore southern England, where drilling has now begun for a horizontal well.

Katoro Gold PLC (LON:KAT) has extended the timeframe around the proposed sale of its Imweru gold project in Tanzania to Lake Victoria Goldfields.

Thor Mining PLC (LON:THR)(ASX:THR) has noted the publication of a maiden resource for the Big Sandy lithium deposit in Arizona.

I3 Energy Plc’s (LON:i3E) first half results highlight ‘an incredibly active period’, according to chief executive, Majid Shafiq.

Rose Petroleum PLC (LON:ROSE) chief executive Colin Harrington told investors he is excited about the next steps in the group’s transformation.

Victoria Oil & Gas PLC’s (LON:VOG) half yearly numbers revealed a substantial improvement, as expected, thanks to the restart of sales to its key customer, a neighbouring gas-fired power plant.

Echo Energy PLC (LON:ECHO) interim results statement highlights a successful restructuring over what’s described as “a period of change”.

Ariana Resources PLC (LON:AAU) expects to reveal “in due course” its plans for Cyprus, where it has been carrying out due diligence on a potential exploration portfolio.

IOVLabs, the parent company of RSK, in which Coinsilium Group Limited (NEX:COIN) has a stake, has acquired Taringa, the world's largest Spanish-speaking social network platform.

Immupharma PLC (LON:IMM) remains upbeat there are still commercial avenues open for its lupus treatment Lupuzor.

Advanced Oncotherapy PLC (LON:AVO) has bumped up the size of an open offer by 16% as investors clamoured for shares in the proton beam therapy specialist.

Synthetic fuels firm Quadrise Fuels International PLC (LON:QFI) said its recent open offer received a take-up of 74.8%.

Savannah Resources PLC (LON:SAV) has confirmed that major shareholder Al Marjan has now bought £1.24mln of shares as part of a £5mln fundraising.

CentralNic Group PLC's (LON:CNIC) senior secured bond of €50mln was admitted to trading on the Oslo Stock Exchange on Friday, with a coupon of three-month EURIBOR plus 7% per year.

MaxCyte Inc (LON:MXCT) said it is taking part in five industry conferences at which it will showcase its CARMA technology.

Faron Pharmaceuticals Oy (LON:FARN) gave a poster presentation at the European Society of Medical Oncology over the weekend, showcasing recent data from its ongoing MATINS study, where good tolerability has so far been seen and "promising" anti-tumour activity.

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