There's widespread revenue growth for Daily Mail & General Trust (DMGT) in today's first quarter trading update, excluding a flat performance from Euromoney. The positive news sends its share price up 3.5% to £10.02. Group revenue is up 6%, the digital arm is up 2% and its events business has seen 32% rise in sales compared to the same period a year earlier. Daily Mail & General Trust owns 52.6% of property website Zoopla which is rumoured to be looking at a stockmarket flotation. The media group today says it is exploring 'various strategic options' for Zoopla, which is also 4.9% owned by main market-listed LSL Property Services (LSL). Daily Mail & General Trust is one of Shares' top picks for 2014.
Financial services group Hargreaves Lansdown (HL.) falls 5.5% to £14.15 despite both the half-year pre-tax profit and dividend being lifted by 11%. Total assets under administration have hit £43.4 billion. The company has reversed a decision to charge extra for clients holding investment trusts.
A joint venture with a Chinese shipbuilder looks to have come up trumps for Aim-quoted resource investment company Amedeo Resources (AMED:AIM) up 141% to 1.9p. The £52.9 million cap has an indirect 18.6% stake in Chinese firm Jiangsu Yangzijiang Offshore Engineering (YZJOE) which has a conditional $1.7 billion deal to build two semi-submersible drilling platforms.
Two weeks after a non-executive director spent £3 million on company stock, Utilitywise (UTW:AIM) says pre-tax profit and revenue for the six months to 31 January are ahead of management expectations. The shares rise 2.5% to 295.13p. That puts the stock 380% higher than when we originally highlighted its potential in June 2012 at 61.5p as a Shares Play of the Week.
Cannabinoid medicine specialist GW Pharmaceuticals (GWP:AIM) slips 1.5% to 291.8p as its losses widen in the three months to January. It lost £2.8 million during the period compared to a £2.1 million a year ago as it seeks to bring new treatments to market. It has £35.3 million cash.
While the market continues to be worked up into a frenzy about the rich pipeline of companies coming to the stockmarket, not all IPOs (initial public offerings) have gone well. Mobile gambling provider 24/7 Gaming (247:AIM) slumps a further 29% to 5.5p today after demoting its chief executive officer and parting ways with three other directors. The business floated at 48p last July and has struggled to get a decent return on marketing investment. It now needs cash to fill a working capital hole.
Nigerian oil producer Eland Oil & Gas (ELA:AIM) gushes up 5.9% to 103p as it commences commercial production from its OML 40 block at a gross level of around 2,500 barrels of oil per day. The company had previously been dogged by production delays but now plans to ramp up its output.
Energy minnow Solo Oil (SOLO:AIM) rises 2.4% to 0.22p after picking up a stake in an exploration licence in Surrey’s Weald Basin. The company plans pay up to £600,000 for 10% of Horse Hill Development a special purpose company with rights to a 65% participating interest and operation of the PEDL137 licence.