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
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
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
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
“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
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
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.
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
I3 Energy Plc’s (LON:i3E) first half results highlight ‘an incredibly active period’, according to chief executive, Majid Shafiq.
Immupharma PLC (LON:IMM) remains upbeat there are still commercial avenues open for its lupus treatment Lupuzor.
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.
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.