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Kin + Carta climbs after raising revenue forecasts for the year

A look at the major movers on the London market on Thursday

Kin + Carta (LSE:KCT) has seen its shares climb after it lifted its expectations for its full year performance.

The consultancy group said first half revenues came in at £85mln, with operating margins up from 3% in the same period last year to around 7%.

It now expects full year revenue growth of 35%-40%, up from the previous forecast of 30%, with margins of 10%-11%.

The figures exclude any contribution from the Incite, Edit and Relish ventures which were divested in the first half.

Chief executive J Schwan said: "Our trading performance continues to improve with strong first half revenue growth and operating margin expansion. As in previous years, our second half is expected to show a stronger performance with higher net revenue levels and improving operating margins".

The company is up 12.09% at 241p.

2.08pm: Premier African Minerals in share exchange deal over potash project

Premier African Minerals Ltd (AIM:PREM) is on the rise after a deal involving its share in potash producer Circum Minerals.

Premier is exchanging its 4.8% interest in Circum, which owns the Danakil Potash Project in Ethiopia, for a 13.1% stake in a special purpose vehicle called Vortex, newly formed by Regent Mercantile Holdings.

A number of other minority shareholders have accepted the deal, and Vortex is expected to end up with around 36.7% of Circum.

The accepting shareholders would have an indirect interest in Circum through their holding in Vortex, and their Vortex interest would mirror their current ownership of Circum.

Premier chairman Neil Herbert said: "This Vortex offer consolidates a substantial percentage of minority shareholders representing 36.7% of Circum...

"With current potash prices at all-time highs this project has significant potential value which is only constrained by the current conflict in Ethiopia. On settlement of the conflict, Circum believes it will be well placed with an approved Definitive Feasibility Study and corresponding extension of Circum's Mining Licence to finalise project financing and the commencement of construction."

Premier has put on 8.44% to 0.33p.

12.15pm: Active Energy threatened with US lawsuit

Active Energy Group PLC (LSE:AEG) has been threatened with a US lawsuit from an environmental lobbying group.

The renewable energy business said it had received a "notice of intent to sue" letter from the Southern Environmental Law Center alleging it is discharging wastewater without the required permits from its Lumberton property in North Carolina.

Active said it was not currently operating at Lumberton, and it had not discharged any wastewater "other than what was required under its permits and by the historic statutory remediation obligations associated with the property."

It denies the allegations and said it would continue to take "robust legal action in response and in defence."

It is also reviewing all its options at Lumberton.

Its shares are down 3.33% at 0.17p.

11.24am: Dekel Agri-Vision falls as cashew project still awaits key equipment

Dekel Agri-Vision plc (AIM:DKL) has seen its shares slide as its cashew project is still operating well below full capacity.

The West African agriculture company also warned it had seen a softening of palm oil production this month after a 20.2% increase in January compared to a year ago.

Meanwhile the cashew processing plant at Tiebissou, Côte d'Ivoire, is only running at 15% of capacity as it awaits the delivery and installation of final items of equipment.

It said this equipment, which includes colour sorter and shelling machines, should arrive at the site in March and April.

The company's key debt provider, the BIDC Bank, has extended the principal grace period of its €4.6mln loan from two to three years, acknowledging that the delay in commencing full-scale production was beyond the company's control .

Executive director Lincoln Moore said: "Record crude palm oil prices and strong production in January are expected to deliver record revenues for January. Whilst early indications in February are we may break the 5-month trend of like for like monthly production growth, the efforts we have put into increasing our extraction rate in fourth quarter of 2021 appear to be paying dividends, and the CPO price outlook continues to remain strong

" The cashew project has commenced operations successfully, however, the ramp-up to full production is taking time. We are working with the contractor to minimise any further delays. We continue to believe the cashew project has the potential to become a very profitable operation, so together with our shareholders we are anxious to ramp up to full production as quickly as possible in the coming months."

Its shares are down 3.96% at 4.85p.

10.05am: PetroTal lifted by positive drilling news from Peru

PetroTal Corp. (AIM:PTAL, TSX-V:TAL) is heading higher after positive drilling news from Peru.

The company said well 10H, which started production on January 30 this year, had set a new internal daily production record with an average 10 day production level of 10,050 barrels of oil per day.

The well's final cost was US$11.5mln, 17% under budget, and has already paid out over 45% of its total well cost at US$90 a barrel.

With the company's central processing facility fully commissioned, it is waiting for final ministry approval which is expected around February 15, 2022.

This would allow it to operate to its maximum capacity of approximately 24,000 to 26,000 barrels of oil per day, from the current constrained production of around 20,000 barrels.

Chief executive Manuel Pablo Zuniga-Pflucker said: "We have set additional production records with 10H's early production rates.

" We are extremely pleased from a technical standpoint at what this could mean for the future performance of PetroTal's drilling inventory and are pleased to deliver a strong start to 2022 for shareholders."

Petrotal is up 5.76% at 34.9p.

9.16am: Crimson Tide (AIM:TIDE) jumps by a quarter after contract win and new partnership with Cisco Meraki

Software specialist Crimson Tide (AIM:TIDE) has surged after a new contract win and a partnership with IT group Cisco Meraki.

The deal is with a leading contract catering company, which will use Crimson Tide (AIM:TIDE)'s mpro5 sofware platform to digitise its daily logbooks to meet food safety standards.

The contract is initially worth more than £400,000 .

The partnership with Cisco Meraki involves the latter's Internet of Things products, with mpro5 using data gathered from sensors and smart cameras.

Crimson Tide (AIM:TIDE) chairman Barrie Whipp said: "Our contract win continues to demonstrate the value of mpro5 in catering, an area where we now have a great understanding of the standards required in health and safety...

"I am particularly pleased with the new partnership with Cisco Meraki. Their global reach and the availability of the Cisco Meraki marketplace means that mpro5 is now able to reach markets outside our traditional geographies. We look forward to implementing mpro5 with Cisco Meraki sensors in a wide range of vertical markets"

Its shares are up 24.44% to 2.8p.

8.42am: BrandShield Systems boosted by contract with consumer electronics group

Cybersecurity specialist BrandShield Systems PLC (AIM:BRSD) has unveiled a contract with a major international consumer electronics brand.

The company will help the customer detect and prevent online fraud, and protect it from illicit trade and unauthorised online sales.

Chief executive Yoav Keren said: "This win, alongside additional customer momentum, further demonstrates that BrandShield is becoming the go-to choice for reputable global companies targeting advanced protection from a host of constantly evolving digital threats...

"This is one amongst several new deals that have closed already this year and we have a very exciting pipeline of new opportunities on the horizon."

The news has lifted its shares by 5.66% to 14p.

Also heading higher is Nanosynth Group PLC (AIM:NNN) after it unveiled a strategy for making a major acquisition.

It has put in place plans for cash and share bonuses for chief executive Mark Duffin and the chief operating officer Peter McNamara to incentivise them to make a significant deal.

These will pay out if they make an acquisition that increases the market capitalisation of the company by at least £10mln. It is currently valued at around £19mln.

Separately it has also improved the terms of Duffin's share option package.

Meanwhile the company's joint venture partner Volz has agreed to convert its production line to provide the capability for Nanosynth's alphaviron layer to be included across Volz's product range.

Nanosynth's half share of the cost of converting the Volz production will be met by issuing a warrant over 50mln ordinary shares in the company to the shareholders of Volz, rather than paying cash.

Its shares have surged 19.36% to 0.93p.

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