Daily Mail & General Trust (DMGT) falls 5.8% to 909p after warning that 'material revenues' from its new risk management system RMS(one) will not come until the financial year starting October 2014. Media sales are slightly lower than analysts forecasts, Euromoney trading conditions remain 'challenging' and there's no update on floating its 52.6%-owned property website Zoopla which may disappoint the market.
Babcock International (BAB) is to raise £1.1 billion through a fully-underwritten rights issue at 790p per share to buy helicopter rescue group Avincis. Its shares dip 2.2% to £13.36. Read our views on the deal in this news analysis.
The UK energy sector is once again thrust into the spotlight after a report by watchdog Ofgem called for an investigation by the Competition and Markets Authority which could take 18 months. Both SSE (SSE) and British Gas-owner Centrica (CNA) have issued immediate responses. The news drags modestly on SSE's shares, easing 19p to £14.99, although Centrica largely escapes with a flat performance at 323p. Shares last looked at SSE in a web story in October, and at the wider UK energy market in depth in December.
Fashion-to-furnishings firm Laura Ashley (ALY) advances 8.7% to 25p as its full-year results flag improving like-for-like sales trends in the second-half period and into the opening two months of its new financial year.
Commodity broker LCB has issued a winding up petition against troubled coal miner Strategic Natural Resources (SNRP:AIM), sending the latter's shares down 44.2% to 3.63p. It is claiming for $1.15 million in unpaid fees for helping Strategic get an offtake agreement for its Elitheni coal mine in South Africa. Strategic has been in a financial pickle for some time due to depressed commodity prices.
Incentives marketing group Motivcom (MCM:AIM) slides 7% to 146.5p after full-year results come in lower than the board's expectations. That's due to 'budgetary pressures' impacting its meetings and events business, according to chairman Colin Lloyd. Strong levels of cash generation mean it can still be generous with the dividend which is increased by 20%; pre-tax profit rises by 13% to £2.8 million.
Having completed its fifth iodine extraction plant Iofina (IOF:AIM) now says it will not build any full-scale plants until the completion of an operational review in the autumn. The market is disappointed by the delayed progress and the shares are down 8.9% to 57.4p.
Wellhead technology specialist Plexus (POS:AIM) jumps up 2.7% to 279.2p as it announces a 10% increase in pre-tax profits for the six months to 31 December to £1.9 million and lifts its interim dividend 9% to 0.48p. These profits are based on its equipment rental business but the long-term potential is likely to lie in its joint industry projects which continue to progress as planned.
Retail meat packing specialist Hilton Food (HFG) rises 3.5p to 503.5p after serving up robust 2013 numbers. Annual profits improve 2.4% to £19.4 million on sales 9.1% ahead at more than £1.1 billion, though a cautious outlook statement flags challenging conditions in Europe, with 2014 likely to feature high meat prices and muted consumer spend, as well as a warning note on currencies.
Ceramic tableware maker and distributor Churchill China (CHH:AIM) cheapens 2.7% as investors take profits after a good run. Strong full-year figures showing taxable profits up 24% to £3.4 million and news of a positive start to 2014 prompt forecast upgrades, as foreshadowed here by Shares.
Mobile apps supplier to Latin America Mobile Streams (MOS:AIM) continues to feel the heat after unveiling an Argentinian Peso-driven 40% collapse in half year earnings before interest, tax, depreciation and amortisation (EBITDA) to £1.2 million. That sparks another share price hammering of more than 10% to 24p, meaning they have lost two-thirds of their value so far this year. We explained the back ground to the Peso pressure in January.