Britain's second-biggest department store operator Debenhams (DEB) claims to be making steady progress in implementing its new strategy. But investors are likely to focus on caution over the UK trading environment, which the company describes as ‘more volatile.’ That sends the shares more than 3% lower in early trade on Tuesday, to 43p.
UK oilfield services company Petrofac (PFC) has enjoyed a busy spell of project bidding activity and that’s likely to pep-up profits in the first half, the company says on Tuesday. The company now anticipates posting an underlying net profit of $135m to $145m for the half with a strong order book expected also, although investors remain wary, the share price flat at 424.8p.
Supermarket chain Tesco (TSCO) is apparently set to launch a one-hour grocery delivery service to customers in central London, according to reports. This may be seen positively for the company but may spark fears across the sector of more cut-throat competition, particularly in the online shopping part of the sector. Tesco shares nudge around 1.3% higher in early trade on Tuesday to 169p, versus a flat Morrisons (MRW) (240.9p) and a marginally lower Sainsbury (SBRY) at 254.4p.
Virtual robotic workforce play Blue Prism (PRSM:AIM) posts more strong growth in the first half of is year, with headline revenues jumping 133% to £9.3m. New customers and upsells to existing ones both feature prominently, and the exit monthly run rate of £1.72m implies future recurring revenues of £20.64m. EBITDA losses total £2.7m, sharply up on a year ago (£1.4m) but the firm has £10.4m of net cash to fuel further progress. The upbeat growth tone - predicted by Shares on 22 June - sends the share price soaring more than 8% to 836p, ending a run of declines through most of June.
Flooring specialist Carpetright (CPR) flags a return to like-for-like growth in the UK in the second half of its full year to 29 April 2017. But things look like turning negative in Europe, where store opening are impacting operating performance and costs. Carpetright shares spring 8% higher to 195p, with investors evidently relieved that the news is not far worse.
Buildings connectivity specialist RedstoneConnect (REDS:AIM) has landed the contract to wire-up the brand new stadium being built for football club Tottenham Hotspur on the site of the old White Hart Lane. Shares in RedstoneConnect rallying 3.8% on the news, to 135p.
Resources tiddler Mkango Resources MKA:AIM), one of a handful of rare earth miners outside China, aims to start production in Malawi in 2020. The deadline set is designed to catch an expected leap in demand for the metals that are used in electric vehicles and other new technologies. But the news does little for investors, the stock flat at 2.88p, valuing the business at just £2.4m.
