Difficult trading conditions have forced Czech Republic-based New World Resources (NWR) to abandon its 2013 production targets set less than two months ago. This has spooked investors, causing the coal miner's share price to collapse 10.6% to 167.1p. We have flagged the company's problems several times in Shares, click here and here to read our two stories from February.
Department store operator Debenhams (DEB) rallied 9% to 87.7p as investors expressed relief that the retailer’s half-year figures contained no further negative surprises following March's profit warning. We look at the situation in depth here.
An acquisitions spree has stirred up trouble at NCC (NCC), the Manchester-based IT tester confirming that it would miss market expectations. That's swiped 12% off the shares to 107.5p, a harsh-looking market reaction given that the core business remains strong. We look at the situation in detail here.
Pharma giant GlaxoSmithKline (GSK) shot up 4.4% to £16.78 after its lung treatment was recommended for approved in the US. The Food & Drug Administration is expected to rule on Breo Ellipta in May after its advisers recommended the treatment. An analyst at Sanford C. Bernstein has been reported as forecasting that the treatment could be worth $703 million annually by 2020.
Investors have been warming to the long-term mobile network enhancements story at Filtronic (FTC) for over a year and they're being rewarded hand over fist. The microwave kit and filter specialist confirmed it would beat market expectations for 2012 with revenues of £38.5 million, about 50% up on 2011. That news sparks a 15% shares jump to 60.5p, more than 200% up on our Dec '11 feature, page 26 (read here).
SABMiller (SAB), the beer brewing behemoth behind brands including Peroni and Foster's, frothed up 14p to £33.57 as investors raised a glass to a reassuring trading statement. For the year to March, the £53 billion cap, boasting brand strength and pricing power, grew sales 7% organically with fourth quarter revenues rising by a creditable 4%.
Dairy Crest (DCG) was flat at 434.3p despite deploying some of the cash raised from the sale of French spreads business St Hubert to agree a revised capital structure and new pension contributions. Through these moves, the £592 million cap has reduced its ongoing interest costs – prompting analysts to upgrade profit forecasts – and improved its dividend cover, whilst retaining the flexibility to make bolt-on acquisitions.
Telford Homes (TEF) shares jumped 7.1% to 265p following a trading update which stated that pre-tax profit would beat market forecasts for the year to 31 March 2013 and that the group was already 94% pre-sold for the year to 31 March 2014. As well as reporting significant improvement in both gross and operating margins, the housebuilder said net debt had been reduced to under £35 million compared to 2012 when debt stood at £54.6 million.
Shares in Persimmon (PSN) rose 1.63% to 1,124p after the £3.3 billion cap housebuilder said it plans to pay out a dividend of 10p per share to shareholders in June next year. This payment is being brought forward and had originally been scheduled for 2015. The Group said the government's recently-announced measures to help home-buyers in the budget had a significant impact on new enquiries.
Sausage skins maker Devro (DVO) lost some of its sizzle, dipping 3.7% to 323.1p. The maker of collagen casings for the global food industry warned first quarter profits were down on last year due to lower production yields, notably in the USA, as well as the timing of price increases, although the group is confident of hitting its full-year numbers.
Beverages peer Diageo (DGE) moved 9.5p higher to £19.84 despite reporting slower-than-expected third quarter organic sales growth of 4%, below consensus expectations of a 5%; and the 5% growth achieved in the first half. The shares were bid up with analysts expressing confidence the £49.7 billion cap Johnnie Walker whisky-owner will still hit its full-year numbers.
Identity management has been a hot space for specialist software supplier GB Group (GBG:AIM) and it's doing better than expected. Posting strong growth across the board saw the shares rise over 5% to 98p, although detail on acquired/organic growth is thin. We'll likely get more when full-year figures are released in June.
Israeli training simulation software specialist SimiGon (SIM:AIM) edged up 0.25p to 18.25p on news of another contract with the USAF, this time for remote piloted aircraft. Worth $405,000 over 18-months, it's relatively small beer by itself, but illustrates a growing and increasingly valuable relationship with the US military people, and timely just before Monday's full-year results.
Not content with its rapid expansion in the UK and parts of Europe, insurance claims specialist Quindell Portfolio (QPP:AIM) is now eyeing the US. The bulletin board favourite has pulled the trigger on the £20.8 million acquisition of Canadian SaaS company Iter8 in a bid to accelerate its market land grab. The move eggs the volatile shares 4% higher to 13.5p, read our recent articles on the company here and here.
Enterprise communications kit supplier Mobile Tornado (MBT:AIM) has suffered a slow walkie-talkie roll out across Latin America with network customer America Movil. Underwhelming 2012 figures don't help, slicing 5.5% off the shares to 25.5p. But there's a growing hope that the foundations are in place for a much better 2013.
Pochin's (PCH) dropped 10.7% to 25p after the group's interim management statement revealed that 'any significant improvement in the Group's performance is dependent on improved conditions in both the construction and commercial property markets.'
And finally, healthcare technology group Cambridge Cognition (COG: AIM) was up 8% to 76p on its first morning as an Aim company. The £11.8 million cap, which specialises in computerised neuropsychological tests, raised £6.4 million from its debut to rollout CANTABmobile, a cognitive test for GPs and dementia specialists.