Insurance claims outsourcing group Quindell (QPP:AIM) publishes transformational 2013 results showing revenues 133% higher and earnings per share roughly doubled to 1.97p. Yet less impressive operating cashflow (£3.2 million) troubles the market, sending the shares down 6.5% to 36.25p. There may also be the traditional profit taking upon publication of results, given today's numbers follow a strong share price run since December 2013. We revisited the investment case in January at 21.5p and have subsequently looked at the stock here and here.
Project delays in 4G telecoms investment spark a nasty profit warning at microwave kit supplier Filtronic (FTC), hammering the shares by 21.5% to 38.25p. The company remains hopeful that much of the revenue will come through next year, although it admits timings remain uncertain, as we explain in this news analysis.
Video search engine Blinkx (BLNX:AIM) rallies 6.4% to 120.25p after confirming revenues in the range of $245 million to $247 million and adjusted pre-tax profit that will show a rough 55% jump on last year's $24.6 million. The company also puts out a detailed refute to recent claims made about its business model and practises, hopefully drawing a line under the issue.
Pure play online fashion retailer Boohoo.com (BOO:AIM) nudges ahead 0.5% to 51.25p on a pleasing year-end trading update. Sales grew more than 60% to more than £109 million in the financial year to February.
Unloved African agri-business Zambeef Products (ZAM:AIM), a long-term beneficiary of growing Sub-Saharan protein consumption trends, sheds another 12.7% to 26.75p. The food producer warns a combination of weakness in the Zambian kwacha which increases its dollar-denominated costs; pork product restrictions following an outbreak of African swine fever in Zambia; and increasingly-aggressive competition will result in losses for the first-half period. We take a closer look at the issues in this news analysis.
Window and door replacement company Safestyle UK (SFE:AIM), a likely beneficiary of housing market resurgence, edges ahead 1.63p to 182.63p. Maiden full-year figures are better-than-expected and news of a strong start to 2014 triggers forecast upgrades.
Waste management group Shanks (SKS) falls 3.8% to 112.75p after saying tough market conditions may continue through 2014 for its Benelux business. Investors don't like Shanks saying it will deliver full-year results that are 'broadly' in line with expectations as that may imply a small miss to forecasts.
Electronics repair specialist Regenersis (RGS:AIM) advances 7% to 382.75p after raising £100 million to strengthen its balance sheet and fund a €60 million acquisition of data erasure group Blancco. Read our latest view on Regenersis which is a running Shares Play of the Week.
Russian gold and silver producer Polymetal International (POLY) rises 1.7% to 626p despite full-year results reflecting lower lower commodity prices in 2012. It moves into a loss-making position and shareholders see the annual dividend cut by just over half. The production guidance for 2014 is for similar levels to 2013, so Polymetal will need higher precious metal prices to deliver earnings growth.
New Zealand oil explorer Kea Petroleum (KEA:AIM) gushes up 23.2% to 2.52p after announcing a farm-out of its Puka oil discovery. Documents on the joint venture with an unnamed partner are awaiting final sign off with the announcement of a concluded deal expected in the next week. The company also announces 3D seismic suggests its Mercury Prospect could contain up to 158 million barrels of oil.
Latin American oil play Amerisur Resources (AMER:AIM) slips 3.6% to 54.25p as it announces an audit of its Colombian reserves. These reveal proved (1P) reserves up 65% to 19.8 million barrels of oil and proved and probable (2P) reserves up 8.8% to 32.8 million barrels, Investec comments: 'In our view, the 2P number will fall short of market expectations this morning.' Amerisur is one of our top picks for 2014.
Bronchial drugs delivery specialist SkyePharma (SKP) rises 9.8% to 221.3p as it plans to raise £112 million through a placing and open offer to repay its bonds so it can concentrate on investing in new products.
Pharmacology specialist e-Therapeutics (ETX:AIM) improves 6.8% to 23.5p on positive results from the first phase study of its cancer treatment. Early signs are that the drug is halting tumour growth while those taking part in the trial suffered no side-effects. Further patients will now be recruited for a higher dose trial.
Housebuilder Inland Homes (INL:AIM) falls 5% to 47.5p despite half-year results triggering earnings upgrades from analysts. The company has reported a 19.4% increase in pre-tax profit to £3.6 million, albeit with revenue down a third to £12.8 million. FinnCap adds £1 million to its 2014 and 2015 pre-tax profit forecasts.