Distil (AIM:DIS), whose brands include RedLeg Spiced Rum, Blackwoods Gin and Blavod Black Vodka, is toasting news that a new gin plant is coming closer to reality.
Commercial property specialists, Bowman Rebecchi and Rebecchi Architectural, have been formally appointed by Ardgowan Distil (AIM:DIS)lery to develop the new plant at its distillery site in Inverkip, Scotland.
Distil announced an investment of up to £5 million into the Ardgowan Distillery in July 2021, to include the development of a gin distillery on site, built in advance of the whisky distillery which is due to begin production in 2023.
The new gin facility and visitor centre will be developed by renovating existing buildings on the site.
Distil shares are up 4.24% at 1.72p.
3.08pm: Card Factory (LSE:CARD) climbs as chairman buys shares
A bit of director share buying has also lifted Card Factory (LSE:CARD).
The greetings card retailer has risen 5.16% to 59.1p after non-executive chairman Paul Moody bought 200,000 shares at 56.4563 pence per share.
Before the purchase he held no shares in the business.
The move comes after the company issued an upbeat statement last week, saying trading for the 11 months to the end of December was ahead of expectations.
2.35pm: Alba Mineral Resources boosted as chairman snaps up shares
Alba Mineral Resources PLC (AIM:ALBA), which has projects in Greenland, Wales, and Ireland, is on the move after executive chairman George Frangeskides spent £150,000 on the company's shares.
He bought 10,221,909 shares today at an average price of 0.1475p for an ISA. After this deal, he has a total holding of 48,115,199 ordinary shares, representing 0.75 of the company.
Alba's shares have jumped 48.15% to 0.2p.
2.22pm: URU Metals heads higher as subsidiary Zeb Nickel (TSX-V:ZBNI) lists in US
URU Metals Ltd (AIM:URU) has gained ground after Zeb Nickel (TSX-V:ZBNI) Corp, where it owns 74.82%, received final approval to begin trading today on a US market for junior resource companies.
URU said trading on the OTCQB Market was a positive step forward for both the Zeb Nickel (TSX-V:ZBNI) Corp and its shareholders, allowing Zeb Nickel (TSX-V:ZBNI) Corp to now have access to the United States investment community.
To be eligible for the listing, URU said companies must meet high financial standards, including being current in their financial reporting, follow best practices corporate governance, have professional third-party sponsor introduction, demonstrate compliance with US. securities laws, and undergo an annual verification and management certification process.
URU shares are up 17.65% at 200p.
12.20pm: Arkle Resources rises as drilling in Limerick set to start
Arkle Resources PLC (AIM:ARK) is on the rise after a positive update from its operations in Ireland.
The company said that a six hole, fully funded drilling programme would start within weeks on the Stonepark block of licences in Limerick. Arkle's share (23.44%) of the drilling programme is €75,000, with the remaining interest held by Group Eleven Resources Corp.
Chairman John Teeling said: "Our partner, Group Eleven, has extensively studied the wider geological picture around Stonepark. Their proposed drilling programme reflects this, one step-out hole to seek an extension of the Stonepark North zone, two holes to test an extension from the Group Eleven Carrickittle resource into Stonepark and three exploratory holes on the Stonepark ground, testing new targets on the Limerick Volcanic Complex. These targets are close to the adjacent ground being drilled by South 32 / Adventus. The objective is to find a mirror image of the large Glencore owned Pallas Green zinc deposit adjacent to Stonepark. The programme will take up to three months to complete."
Arkle shares have climbed 34.62% or 0.23p to 0.88p.
11.03am: Centaur Media (AIM:CAU) climbs after positive update
Centaur Media (AIM:CAU), whose brands includeThe Lawyer, Marketing Week and Creative Review, has published a positive update and seen its shares move higher.
The company said trading in its core brands remained strong in the final quarter of the year, so it expected to report revenues of at least £38.5mln for the year and margins of more than 15%, both ahead of consensus. It ended the year with a cash balance of £13.1mln, up from £8.3mln in December 2020.
Its shares have climbed 6.02% to 59.37p.
9.46am: BEST OF THE BEST (AIM:BOTB) sees lower profits as lockdown boost to its competitions fades
BEST OF THE BEST (AIM:BOTB) is in a losing position after another warning on profits.
The online organiser of weekly competitions to win cars and other prizes said half year results to the end of October were in line with expectations.
But the figures were down on last year as consumers came out of lockdown and found other ways to entertain themselves as the world re-opened.
And its marketing costs increased further in recent months.
It said: "Following a period of stabilisation (albeit at a significantly higher level than pre-COVID-19), the cost of acquiring players increased by a further 37% [or so] in November and December 2021 compared to the prior six month average, resulting in fewer customer registrations for similar levels of marketing investment."
So it now expects full year revenues of £34mln - £35mln, down from £45.6mln.
Pre-tax profits are forecast to be £4.25mln - £4.75mln. In August it reckoned they would be around £6mln, itself down sharply on the £14.06mln reported last year.
Chief executive William Hindmarch said: "Our very strong results last year were driven by material increases in our marketing budget, the addition of new competitions, prize enhancements and pricing changes, delivering significant quantities of new customers and traffic to our website, which our operationally geared business model converted into heightened levels of profitability.
"However, it is now also becoming apparent that the business benefitted more than originally assumed from a tailwind during the COVID-19 period, whilst much of the country remained in lockdown with restricted movement, travel, entertainment and other retail opportunities...
"Understandably, we will be taking steps to reduce the bottom line impact of reduced revenues, by maintaining a sharp focus on costs, and prioritizing the most efficient marketing channels.
"We recognise that there is potential volatility ahead, which is evident in our cautious short-term outlook, but look to the medium and long term with confidence as we push towards a return to steady growth and more normalised marketing costs."
The update has seen its shares drop 28.22% or 171p to 435p.
Russ Mould, investment director at AJ Bell, said: "[The company] thrived during the early stages of the pandemic as people were bored at home, potentially on furlough, and wanted to find a way of making a quick buck. Revenue and profit soared, and the company even put itself up for sale, perhaps thinking if ever there was an opportunistic time to get top price for the business, this was it.
“The sale didn’t happen and interest in its games faded as work from home restrictions were lifted. Now customer acquisition costs are soaring, and profit is falling, with the share price having slumped by 78% in the past 12 months. While the business is still making money, shareholders are likely to be losing patience fast."
8.50am: PCI-PAL boosted by strong first half performance
PCI-PAL PLC (AIM:PCIP) is in demand after forecasting better than expected results for the year.
The provider of secure payment solutions for business communications said half year revenues rose 72% year-on-year to £5.4mln, with annual losses now anticipated to be lower than City estimates.
Chief executive James Barham said: "We have enjoyed an excellent performance in the first half of the year...
"With the strength of trading shown to date, and a growing pipeline and partner eco-system, we now anticipate that the group will exceed its current market revenue expectations, resulting in a reduced loss before tax for the financial year. The board remains confident in the longer-term outlook for the group and continues to invest in its ambitious growth strategy."
Proceedings in relation to an alleged patent infringement against the company are continuing, and it is working towards an outcome that it believes will best benefit the business.
Its shares are up 17.24% or 10p at 68p.
Dillistone Group (AIM:DSG) is also on the move, up 11.91% or 2.5p at 23.5p on contract news.
Ikiru People, its recruitment software subsidiary, has won a major contract extension with one of the UK's largest and best known recruitment organisations.
The contract is for a five-year period and is with one of the top ten recruiters in the UK by revenue.
Chief executive Jason Starr said: "Five-year contracts are almost unheard of in our sector. This significant commitment from one of the UK's best known recruiters is a huge vote of confidence in our product, our team and our business, and we are delighted to be able to announce it. It is a great start for our ambitions for 2022."