Search Follow us
Elaine Reynolds
20 November 2018

Sound Energy well result highlights reservoir variability in Morocco

Sound Energy’s TE-9 well in the Tendrara Basin in Morocco has encountered poor reservoir in the primary Triassic TAGI target and the well will be plugged and abandoned. The well was the first in a three well exploration campaign and was testing the A1 structure around 25km to the north west of the company’s Tendrara production concession, with a mid-case pre-drill estimate 0.7TCF gas in place. Since 2016, Sound has successfully drilled and tested the TE-6 and TE-7 wells in the core Tendrara area around the TE-5 discovery well, however results from the larger step out wells such as 2017’s TE-8 (which encountered tight TAGI sands to the west)  and exploration further afield in TE-9 have not been as encouraging.

Read more...
Sparks Team
20 November 2018 · 3 min read

Entertainment One (ETO); reports group adjusted PBT up 7% to £42m

Adjusted diluted EPS increased 20% at 6.1p per share

Entertainment One announced half-year results for the six months ending 30 September 2018. The group’s reported underlying EBITDA grew 10% to £60m, driven by revenue growth in Family & Brands. However, this was partly offset by lower performance in Film & Television. Reported revenue was broadly stable at £405m (2017: £413m).

Read more...
Ryan Long
20 November 2018 · 3 min read

MOD Resources (MOD.L); files prospectus for the London Stock Exchange

The company expects to list in London on the 26th November 2018

MOD Resources’ (MOD.L) highly anticipated listing on the London Stock Exchange’s Main Market is expected on 26 November 2018, following the publication of its prospectus today. MOD Resources is already listed on the Australian Stock Exchange but is coming to London to attract institutional investors.

Read more...
Kate Heseltine
20 November 2018 · 2 min read

Bonmarchè (BON); struggles following six month like-for-like sales declines of -4.0%

Online sales growth was robust at 28.9% over the six month period

It seems that even at the value end of the market the impact of weaker high street demand is taking its toll. Bonmarchè, the value fashion retailer, has reported a store like-for-like sales decline of -4.0% for the six months to 29 September 2018, with a significant deterioration to -7.7% in Q2 versus -1.1% in Q1.

Read more...
Paul Hickman
20 November 2018 · 2 min read

Focusrite (TUNE); posts outstanding results with revenue growth of 13.7% year-on-year

Adjusted earnings per share grew 18.9% to 17.6p and the dividend for the year increased by 22% to 3.3p

Focusrite, the global music and audio products group, has delivered outstanding results. Revenue of £75.1m grew by 13.7% year-on-year. It also posted stronger margins so that pre-tax profit of £11.3m grew 19.2%, beating estimates by 5%.

Read more...
Ryan Long
20 November 2018 · 2 min read

SolGold (SOLG); announces eye watering resource upgrade

SolGold’s Alpala project towers above its peer group

SolGold (SOLG.L) announced this morning an eye watering resource upgrade at its Alpala Porphyry Copper-Gold Deposit, located in Northern Ecuador. The project now has a Total JORC 2012-Complaint Mineral Resource Estimate of 3bt at a copper equivalent grade of c. 0.5% Cu eq. This is a massive increase from the previous estimate of 1bt at a copper equivalent grade of c. 0.7% Cu eq.

Read more...
Sparks Team
20 November 2018 · 2 min read

Polypipe (PLP): report LFL revenue growth of 10.2%; outlook for FY in line with expectations

Revenue for the 10 months ended 31 October 2018 increased 4.5%

In its trading update for the four months ended October 2018, Polypipe declared like for like revenue growth of 10.2%. Growth driven by strong organic expansion in the Residential Systems segment and good performance in the Commercial and Infrastructure Systems segment.

Read more...
Sparks Team
20 November 2018 · 2 min read

Accsys Technologies (AXS); narrows underlying loss before tax to €4.5m in 1H18

Accoya sales volume increases 8% year-on-year

Higher volumes and pricing, besides license income, led to a 12% year-on-year increase in revenue for the six months ended 30 September 2018. Underlying EBITDA loss narrowed to €1.4m from €2.8m, reflecting increased sales and production volumes, in addition to price hikes.

Read more...
Sparks Team
20 November 2018 · 2 min read

Solid State (SOLI); reported positive interim results for the six months ended 30 September 2018.

The company reports significant contract wins have resulted in a strong open order book up by 46% to £29.4m from £20.1m last year.

Solid states interims posted adjusted gross profit margins and adjusted profits before tax increases of 0.7% and 6% respectively for the six months ending 30 September 2018. The interim dividend and adjusted diluted earnings per share increased by 5% each.

Read more...
Sparks Team
19 November 2018 · 1 min read

Custodian REIT (CREI): announces purchase of Evesham Shopping Park

The shopping park is one mile from Evesham town centre and two miles from the A46

Custodian REIT acquired the 43,000 sq. ft. Evesham Shopping Park at a mutually agreed purchase price of £14.2m. The company used its existing debt resources, which increased its net gearing to 22.8% loan to value.

Read more...