The company traded in line with expectations in the first half of 2010 and is on target to deliver “materially improved” full-year results.
Martyn Rose, the chairman of Ingenta, said the benefits of the recently announced sales wins and restructuring are beginning to be recognised in the company’s reported results.
2.30pm: Crossword Cybersecurity targets closure of “several large opportunities”
The company said it is aiming to close “several large opportunities” before the end of the year.
In an outlook statement accompanying its interim results, the cybersecurity firm also said it remained confident full-year results would be “in line” with market expectations.
Nevertheless, the shares, which have been on a terrific run of late, rising from 245p at the end of 2018 to 505p last night, fell back to 456p.
1.30pm: Petrel runs out of gas after caution permeates trading statement
The company, which is focused on Iraq, Ghana and the Irish Atlantic, said challenges remain in Iraq while progress in Ghana with the authorities remains slow.
As for the anticipated drilling in the Irish Atlantic Porcupine Basin, the anticipated multi-well drilling programme in the Irish Atlantic has been delayed by a politically-inspired private members’ bill hoping to ban future licence rounds and extensions, and although the government blocked the bill, governments do change …
12.30pm: On the Beach on the rise after collapse of Thomas Cook
There will be an exceptional cost this year to cover the cost of rescuing stranded holidaymakers but nevertheless, On the Beach shares were up 6.4% at 404.2p.
11.30am: Northgate drives higher after kicking off a review of the business
Van hire specialist Northgate PLC (LON:NTG) headed north, rising 5.8% to 320p, after it revealed a review of the business has kicked off.
The review is focused on “clarifying the significant intrinsic value of Northgate”, the recently-appointed chairperson, Avril Palmer-Baunack, told shareholders at the company’s annual general meeting.
The review would encompass Northgate’s core businesses and “the strong potential of strategic actions that will grow the business in both scale and value”.
10.30am: Low & Bonar doubles after agreeing to a takeover
Normally, when a company puts an announcement out on late Friday evening it is bad news but not this time; the board of the performance materials specialist, which issued a profit warning back in May, recommended acceptance of a 15.5p cash offer from Freudenberg, a family-owned global technology group that is based in Germany.
The terms value Low & Bonar at around £107mln.
9.30am: XLMedia and Mosaic tumble after worrying updates
Yehuda Dahan will be replaced as the chief bean-counter by Liat Hellman, who is currently the chief financial officer of XLMedia‘s Webpals arm, will take over the gig on an interim basis.
Dahan’s departure coincided with XLMedia revealing that performance was weaker than expected in July and August.
The shares were down 16.5p at 58.5p.
The developer of point-of-need mass spectrometry instruments said some deliveries in the first half of the year were delayed because the company’s manufacturing partner needs to ramp-up throughput on newly implemented testing and release procedures.
The board is confident that full capacity will be in place to support significant further sales growth in 2020 and beyond.
Proactive news headlines
Mkango Resources Ltd (LON:MKA, TSX:MKA) is buying a stake in a company that has developed a technology to recycle rare earth magnets, which it hopes to employ at its Songwe Hill project in Malawi.
Iodine producer Iofina PLC (LON:IOF) notched up record half-year revenues in the first six months of 2019, with revenue up 29% to US$14.53mln and underlying earnings (EBITDA) soaring 172% to US$1.97mln.
Premier African Minerals Limited (LON:PREM) chairman Michael Foster has stepped down as the group edges closer to manganese miner MNH Holdings.
MTI Wireless Edge Ltd (LON:MWE) has won a US$1mln contract to supply military antennas to an unnamed European customer over the next 15 months.
Kosmos Energy Ltd (LON:KOS, NYSE:KOS) has revealed successful results from the Yakaar-2 appraisal well, offshore Senegal, which has confirmed “world class” gas resources.
Metal Tiger Plc (LON:MTR) chief executive Michael McNeilly has described himself “delighted” as 59.81% investee Kalahari Metals Limited (KML) landed approval for its environmental management plan for the Kitlanya projects in Botswana.
Union Jack Oil PLC (LON:UJO) executive chair David Bramhill highlighted “significant progress” across its three key projects – West Newton, Biscathorpe and Wressle – as the onshore oiler released its half yearly results.
Redx Pharma (LON:REDX) will deliver a poster presentation at the European Respiratory Society International Congress 2019 in Madrid, Spain on 28 September-2 October 2019. The poster relates to RXC006, the company’s potential treatment for the orphan disease, idiopathic pulmonary fibrosis (IPF), which is being prepared for clinical trials during the second half of next year.
Caledonia Mining Corp PLC (LON:CMCL, NYSEAMERICAN:CMCL, TSX:CAL) has appointed mining industry veteran Nick Clarke as an independent non-executive director with immediate effect.