The car seller said the full-year outlook remains unchanged, but added the Society of Motor Manufacturers and Traders’ forecasts the UK new car market to decline 2.8% and 4.4% in 2019 and 2020, respectively.
The market has been hit from weak consumer confidence and by the implementation of further emissions-related regulations in September.
The AIM-listed miner said ZESA, the state power company, has provided RHA with a temporary solution that can be operated manually at site until a new transformer has been delivered and installed.
“When coupled with the plant optimisation, this will significantly reduce operating expenditure and generally further de-risk planned return to production,” chief executive George Roach said in a release.
2pm: Chesterfield Resources jumps after “considerable and unexpected” progress in Cyprus
Chesterfield Resources PLC (LON: CHF) jumped 27% to 3.8p after reporting “considerable and unexpected” progress at the copper project Troodos West, located in Cyprus.
The company now has ten specified drill targets, with potential to add more, and plans to begin operations in the first quarter next year.
Some members of staff also acquired 2.3mln ordinary shares at the price of 5p, 66% premium to the current share price, representing 3.71% of the existing capital.
12.30pm: Midwich takes day’s profit warnings to four
It was due to slower demand in recent weeks in both the UK and across continental Europe, with fewer larger projects hitting gross margins.
The specialist audio visual distributor now expects full-year adjusted profit before tax to be between £30-31mln, which would be broadly flat year-on-year.
11.30am: Arrow Global moves up with €838mln fundraise
The company, which purchases debt from banks, credit card companies and telecommunications businesses, said it is a “major achievement”.
The cash will be invested to reach its €2bn assets under management target before the end of 2020.
The move will simplify the trading process for potential US investors, enabling them to trade shares in US dollars in their time zones, the company said.
Sometimes called ‘the venture market’, the OTCQB is a decentralised market of early-stage US and international companies whose shares a traded directly by a network of dealers.
10.30am: Touchstar drops after profit warning
The data collection and mobile computing solutions supplier said it was due to a trend among customers not committing to placing orders due to the political uncertainty in the UK.
The warning was also due to extended lead times for obtaining stock, pushing fourth-quarter deliveries back to the beginning of 2020.
Meanwhile, TechFinancials Inc (LON:TECH) slipped 37% to 0.73 after calling shareholders for a meeting to decide on the proposed cancellation from the AIM listing.
The fintech software provider said earlier this month it would be best for the company to have a sole listing on the NEX Exchange Growth Market as it develops its new blockchain-based businesses.
The proposal came after it had to close its 51%-owned subsidiary DragonFinancials as it was posting losses for over a year with little hope for a turnaround.
9.45am: RA ra ra!
It also updated on the award of the second phase of a US$10.9mln contract with construction services firm Cherokee Nation Mechanical.
The AIM-listed company, which provides services to remote locations in Africa and the Middle East, will help building a US Embassy in an East African country.
The recruiter said it will return £2mln to shareholders, at 16p per share, with management stating it would be in the best interest for both the company and investors.
Prime People own Macdonald & Company Group, an independent professional recruitment consultancy focused on the commercial property sector.
The AIM-listed firm said it will provide extra working capital as its La Parrilla tungsten and tin mine in Spain is now fully up and running on a 24-hour basis.
Moving to 24-hour operations at La Parrilla, the miner said its newly completed concentrator plant was now producing tungsten concentrate in line with shipment specifications.
8.45am: Bidstack Group, 600 Group slide on profit warnings
Bidstack, an in-game advertising group, said it will not meet its revenue targets for the year to 31 December, with sales “not expected to be significant”.
The company said it was due to delays, while next year will see a “material uplift” thanks to recent progress.
Meanwhile, industrial engineering company 600 Group said short-term trading is set to be disrupted by macro-economic and political uncertainties across its markets.
The AIM-listed firm said fourth-quarter order intake is now expected to be “significantly below” estimates, with orders for Germany and the Far East hit by delays due to the global automotive slowdown.
The recruitment and training group did not say why Watts has decided to leave.
Daniel Quint, most recently interim chief financial officer at Young & Co.’s Brewery PLC (LON:YNGA), has been appointed as a replacement until a permanent successor is found.
Proactive news headlines
Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (FRA:W1D) (OTCMKTS:WHELF) has signed an agreement with leading fertiliser company HELM AG for the sale of premium sulphate of potash from its Lake Way Project.
Explorer Union Jack Oil PLC (LON:UJO) and natural resources investor Reabold Resources PLC (LON:RBD) provided separate updates on a Yorkshire onshore oil and gas fields that has all the hallmarks of a North Sea discovery in terms of its scale.
Rainbow Rare Earths Limited (LON:RBW) says drilling at the Kiyenzi area of its Gakara project in Burundi contains “greater widths of mineralisation” than initially expected.
Ncondezi Energy Limited (LON:NCCL) has tweaked the timetable to submit the data for the tariff agreement covering its coal-fired power station project in Tete, Mozambique.