Car parts-to-bicycles retailer Halfords (HFD) pedals 10.3% higher to 462p as excellent first-half figures to 27 September prompt analysts to upgrade earnings forecasts. Pre-tax profits rise 6.4% to £44.6 million with the help of strong like-for-like sales growth in the key areas of cycling, where better weather helped, and car maintenance.
Fashion retailer SuperGroup (SGP), a running Shares Play of the Week, puts on 2p at £12.08 as a strong and better-than-expected second quarter update drives forecast upgrades, as we discuss in more detail here.
Randgold Resources (RRS) jumps 8.6% to £50 after its third quarter production update showed a large drop in costs. Yet analysts aren't entirely bowled over as cash is rapidly being depleted. Historically seen as having a robust balance sheet, Randgold now only has $17 million cash remaining, albeit access to an undrawn $200 million revolving credit facility. It has spent $545 million on capital expenditure this year but only generated $255 million cashflow, notes Investec. The bank says the key to rebuilding the balance sheet is Randgold hitting production targets in 2014 for its new mine, Kibali.
Bradford-based grocer Morrisons (MRW) eases 1.2p to 279.8p on a lacklustre third quarter trading statement. Like-for-like sales fall 2.4% in the quarter to 3 November, below consensus expectations as weak consumer confidence, heavy industry promotions and the supermarket's low exposure to convenience and the web constrain sales.
As foreshadowed by Shares, sweeteners producer Tate & Lyle (TATE) ticks 4.5p higher to 798p as half-time figures reassure. Taxable profits come in 3% lower at £173 million, a figure in line with consensus and delivered despite the negative impact of a soft beverage season in the US.
A third quarter update shows LEDs specialist Dialight (DIA) remains a twin-speed business. The industrial arm is going gang-busters but the obstruction division faces challenges that we flagged in June. The shares stay roughly flat at £10.34 as investors take comfort from management's bid to tackle its challenges. We've written on the company in today's new issue of Shares as part of our cover story looking at stocks set to benefit from emerging technology themes.
British computer-aided design (CAD) specialist Delcam (DLC:AIM) soars 21% to £20.65 after accepting a £172.5 million takeover offer from US giant Autodesk. Good for shareholders but it will be a shame that another British success story leaves our stockmarket.
UK satellites operator Inmarsat (ISAT) drops 5% to 678p after posting a fall in third quarter revenue on weaker demand for its services from military forces. The company insists it will meet market expectations this year.
Low-power health and consumer electronics technology microcap Toumaz (TMZ:AIM) slumps nearly 8% to 4.38p as it goes cap in hand to shareholders again. The latest £17.7 million placing is designed to fund a final commercial push for its SemsiumVitals healthcare monitoring system.
Cloud services to public sector organisations is an increasingly heated space, sparking Sweden's EU Supply to seek admission to the Aim market. The electronic tendering and purchasing business hopes to raise £5 million to pay-off debt and fund expansion.
PuriCore (PURI), which fights the spread of infectious pathogens, shoots up 6.2% to 51p as it secures a $3.5 million contract with a US supermarket. The four-year deal will see the company’s FloraFresh technology used to improve the quality of the chain’s floral department. We have written about the company's director dealings in today's new issue of Shares.
The UK’s largest-quoted landlord Grainger (GRI) rises 5% to 207p on strong full-year results. The company reversed a £1.7 million loss last year into a £64.3 million pre-tax profit in the 12-month period to October, while slicing £235 million off its debt pile to £959 million and boosting its dividend 6.25% to 2.04p per share.
Specialty chemicals outfit Synthomer (SYNT) sheds 1.3% to 229.7p after saying second-half profit will be lower than the first half of the year. The company blames difficult trading conditions in Europe. On the upside, Synthomer maintains that debt at the end of the third quarter was slightly lower than the level reported at the interim results.
Morgan Sindall (MGNS) jumps 5.5% to 841.5p after the heavy construction specialist reports a 6% increase in forward orders to £3.3 billion since the end of the first half of the year. The group remains on course to deliver results in line with the board's expectations.
Builders' merchants group Grafton (GFTU) adds 1% to 627p after the group's third quarter interim management statement reveals a 7.4 increase in turnover to £1.6 billion in the ten months to 31 October.
Logistics specialist Wincanton (WIN) falls 3.5% to 125.5p after the Chippenham-based supply-chain specialist reported a 1.6% drop in half-year revenue. Wincanton managed to add 20 basis points to operating margins to 4.5% while profit before tax in the period rose to £9.7million from £7.56 million a year ago.
Shipping services specialist Clarkson (CKN) rises 0.6% to £20.15 after the group's interim management statement for the third quarter suggests there are some early signs of improvement in the global shipping market.