Online video streaming specialist Perform’s (PER) fast-growing advertising revenues have created a speed bump in the road. The sports-focused company has warned that 2013 earnings will miss expectations sending the top performer down 12.9% to 75p. This follows the growing proportion of advertising revenues whose margin is lower than the margin generated on sales of the company’s existing core Watch&Bet subscription product sold to bookmakers.
Shares in Debenhams (DEB) jumped 4.4% to 94.75p on investor relief the retailer has avoided another profits warning. Nevertheless, the department store operator’s latest trading update showed weaker-than-expected sales, with woeful British weather continuing to take its toll, as we discuss in more detail here.
Pub operator Greene King (GNK) has delivered a decent set of results considering the difficult weather conditions that depressed the second half of its financial year. Its finals reveal a 6.6% rise in pre-tax profit (before exceptional items) to £162 million. The dividend's gone up by 7.3% and the new financial year has got off to a good start with a 3.3% rise in like-for-like sales over an eight week period. The robust statement helped to lift the shares by 3.5% to 772p. Read our recent analysis of the leisure sector where Greene King was among our top equity picks.
Specialist pensions consultancy and wealth management business Mattioli Woods (MTW:AIM) edged ahead 1% to 284p following a reassuring year-end trading update. The firm revealed assets under administration and advice of £3.6 billion, up 20% on the prior year.
An offtake agreement sent Sirius Minerals (SXX:AIM) up 6.7% to 27.75p as investors welcomed news of a solid customer ahead of the small cap building its mine in North Yorkshire. Sirius has agreed to sell 1 million tonnes per year of polyhalite to Chinese group TCT once production begins in 2017.
Photobooths-to-laundry machines operator Photo-Me (PHTM) put on 2.25p at 87.25p as annual numbers to April painted a bright picture and triggered upgrades. Taxable profits surged 21% higher to a better-than-expected £24.3 million, while the dividend was hiked 20% to 3p. Photo-Me also reported another increase in its net cash pile, up 18.5% to more than £61 million.
Bombed-out home automation technologies minnow JSJS Designs (JSJS:AIM) sparked up 4% to 0.26p. The £1.4 million cap's like-for-like sales rocketed 48% higher in the half to March, boosted by business won with B&Q, while chief executive Mike Lord expects profitability in 2014.
Betfair (BET) nudged ahead 5p to 835p despite reporting a 27% drop in pre-tax profit to £38 million for the financial year to 30 April. The market liked a 27% rise in the dividend and the company reporting 'excellent progress' in its turnaround plan.
After seeing its share price slump on a weak gold price and negative investor sentiment towards junior mining equities, Touchstone Gold (TGL:AIM) enjoyed a welcome resurgence, rising 4.2% to 3.12p. It has discovered a high-grade zone at its Segovia project in Columbia. We featured Touchstone as a Play of the Week in February and while the trade was stopped out after a sharp correction in the gold price took the market by surprise in April, the fundamental attraction behind its asset base hasn't changed.
Chippenham-based logistics specialist Wincanton (WIN) has secured a five-year contract to support supermarket giant Morrison's (MRW) convenience store expansion programme, sending its shares up 2.1% to 66p.
Fellow logistics group, Stobart (STOB) rose 1.2% to 87.25p after the Warrington based haulier-to-airport management group assured investors it remains confident of delivering strong returns as its four year strategy (2011-15) moved from the investment phase to optimisation.
Online gaming software designer Playtech (PTEC) is on track to hit expectations, with a marginal improvement in business since April's update. The market remains nonplussed, the shares 2.5p off at 598.5p.
Poor execution appears to be behind a sales slump at precision technology manufacturer Elektron Technology (EKT:AIM). Factory capacity problems and mystery one-off costs saw sales lag by 11% in the first four months. Investors headed for the hills, the shares diving more than 9% to 13.62p.
Managed IT supply microcap Enables IT (EIT:AIM) underwhelmed with modest half-year operating profits and limited cash resources. A £315,000 lost contract write-off looks puzzling. A £910,000 fund raise and small acquisition did to little to lift the mood, the shares falling 6% to 40p.