Cash-generative FTSE 250 homewares retailer Dunelm (DNLM) cheapens 30p to 949p as news of a 0.9% like-for-like revenue decline for the first half leaves investors cold. Though unusually warm weather crimped first quarter sales, the cushions, quilts and pillows purveyor flags much improved second quarter trading, with like-for-like sales growing 2.9%. Cantor Fitzgerald says that while it is not making any changes to its 2014 or 2015 profit forecasts, it remains a 'buyer' of the stock which it sees as a beneficiary of a recovery in both the housing market and consumer confidence.
Tile and wood flooring specialist Topps Tiles (TPT) tacks on 3.5p at 132.5p on a pleasing first quarter trading update. Over the 13 weeks ended 28 December, like-for-like sales skipped 9.3% higher with Topps noting an acceleration of same-store sales in the final month of the period. Despite a tailwind from an improving housing market, Shares still believes the business faces many challenges, as we recently discussed. We look at today's announcement in more detail here.
Speciality pharmaceutical Sinclair IS Pharma (SPH:AIM) leaps 7.8% to 30.7p after agreeing to buy the global rights to Perfectha, a hyaluronic acid-based dermal filler to treat facial wrinkles and fine lines. This triggers very large earnings upgrades as we discuss here.
Copper output exceeded targets by 5% in 2013, reveals Central Asia Metals (CAML:AIM) which now plans to increase production capacity even further this year. The stock rises 2.3% to 154.5p as the Kazakhstan-based operator maintains its strong operational track record. Its chief executive officer Nick Clarke has also been announced as non-executive director at UK miner Wolf Minerals (WLFE:AIM). Read our latest view on Central Asia Metals here.
A rival offer has been made for Clear Leisure's (CLP:AIM) block of land in Italy that is fully permitted for building a new theme park. While there's no increase on the €20 million cash level, the new offer lapses six months later than the existing one. That gives Clear Leisure until September to make a decision which is handy as there looks to be another option waiting in the wings. Several MPs from the local region have proposed that the land be merged into a real estate regional fund which owns nearby assets, therefore creating a one of the largest leisure developments in Europe. The shares rise 13.3% to 2.38p.
Cloud-based telephone solutions supplier Synety (SNTY:AIM) leaps more than 25% to 202p after reporting a sizeable rise in recurring revenues, up from £149,000 to £850,000.
Talent management software supplier NetDimensions (NETD:AIM) is making the most of its 'invest for growth' strategy, flagging that it will beat market revenue expectations of $15.8 million. It also says pre-tax losses should also be lower than analyst predictions.
A £1.1 million cash call at a 50% discount to yesterday's 0.37p closing price sparks a collapse at signal processing solutions microcap ViaLogy (VIY:AIM) to 0.18p. The funds will be used to oil working capital and explore opportunities, although the company's very survival seems in question.
Analysts at Canaccord Genuity are forecasting a strong set of interims from business publisher Wilmington (WIL); anticipating the top line to have been driven by the company’s acquisition drive. The shares are down 1.2% to 247p.
Emerging markets fund manager Ashmore (ASHM) has become the first UK company to be granted a licence to invest directly in China’s $3.4 trillion domestic equity market and its $4.7 trillion bond market. The shares rise 0.2% to 400p.