Midwich Group Plc. gained by over 16% on the London stock exchange, post the company announced its pre close trading update. As per the management, The Company has traded well in the first half, and good growth in topline has been seen across all the geographies on constant currency basis. This underlying revenue growth has been delivered whilst maintaining overall gross margins in line with those reported for 2016. The Board is also pleased to note that the new Spanish business, Earpro, acquired in March 2017, has had a very positive start contributing ahead of previous expectations in its first three months. Also, the cash generation is also in line with the expectations of the management
On account of the strong performance in the first half, the board is confident of reporting its full year results ahead of the expectations. The company would be announcing its half year results for the six months ended 30 June 2017 on 12 September 2017.Read More >
Echo Energy Plc. had lost over5% on the bourses, post the company provided first the first of its quarterly portfolio updates, including an update on its growing Bolivian interests following the announcement dated 21 June 2017. The company confirmed that the initial technical work to further mature the exploration prospect in Huayco has commenced and tendering for the 3D re-processing is underway. The company is also in advanced discussions with various parties in relation to other opportunities in Bolivia and further announcements will be made in due course. The company is also in discussion with various candidates regarding the regional MD role, which will lead a dynamic regional team.
The company’s CEO, Mr. Fiona MacAulay commented, “I am pleased to initiate the first of our routine quarterly portfolio updates, which highlights our strong positioning in Bolivia and beyond. I remain hugely excited by our ambitious regional growth strategy and look forward to updating shareholders on further progress in the near term”Read More >
Huntsworth plc. had surged by over 5% on the London stock exchange, post the company announced the acquisition of the Creative Engagement Group for total consideration of £24.7m. The acquisition would strengthen Huntsworth's ability to provide high quality digital creativity to its clients, and allow TCEG to benefit from access to the Group's existing healthcare clients, especially in the US where there is significant opportunity for TCEG to increase its market share. The consideration of £24.7m would be financed through the Group's existing facilities.
Bellway Plc surged by over 5% post the company announced its trading update. As per the trading update, sales demand was pretty strong, with a 13% increase in the reservation rate to 221 per week versus 196 per week in the year 2016. The financial year 2017 was another year of significant volume growth with the increase in housing completions for the full year to 31 July 2017 is expected to approach 10%. Also, the robust trading performance should result in an operating margin slightly in excess of 22%.