Filtration expert Porvair (PRV) jumps 6% to 246p after saying pre-tax profit for the nine months to 31 August was ahead of expectation, therefore full-year results should beat targets. Investors also liked news that net debt is falling and there's an improvement in the metals filtration arm after a quiet first-half period. Stockbroker Peel Hunt upgrades its 2013 pre-tax profit forecast by 6% to £7.4 million but keeps its 2014 figure unchanged at £8.2 million 'for the time being'. It has a 305p price target.
Lloyds Banking (LLOY) dips 2.2% to 75.66p after news that the UK government has sold its first chunk of shares in the FTSE 100 constituent. We look at the news in more detail here.
RWS (RWS:AIM) has bought the two thirds of patent attorney web portal Inovia that it didn't already own. Although the shares only nudge ahead 0.2% to 777.75p, the deal is very important as we discuss in this news analysis.
Thailand and Malaysia focused oil firm Coastal Energy (CEO:AIM) advances 4.1% to £11.42 on reports it is the subject of a $2.3 billion bid from Hong Kong private equity firm Jynwel Capital. In an ambiguous response the company says it continuously evaluates opportunities to maximize shareholder value. We last looked at Coastal in detail here.
Department store Debenhams (DEB), which disappointed the market with a pair of profit warnings earlier this year, dances 2.8p higher to 106p on a reassuring full-year trading update. Pre-tax profits for the year to August will meet revised forecasts, says the retailer, highlighting like-for-like sales up 1.9% in the final quarter for 2% growth for the year as well as online market share gains.
Chinese outdoor clothing and footwear maker Camkids (CAMK:AIM) sheds 4.5% at 116p despite delivering strong half-time figures. For the half ended 30 June, sales skipped 21% higher to RMB 433.7 million or £44.4 million and pre-tax profits grew 15.4% to RMB 121.9 million. Despite flagging growing caution from some distributors, the £92 million cap demonstrates its confidence in growth prospects by declaring a maiden interim dividend of 2.3p per share.
Pan African Resources (PAF:AIM) rises 3.6% to 14.25p after resuming dividends following a temporary suspension last year while it bought the Evander gold mine in South Africa.
Embattled microprocessor designer Imagination Technologies (IMG) offers a reassuring steer that royalty rates are holding firm and that volume shipments remain robust. Licensing, where recent trouble has centred, looks set to get a boost if its latest series-6 PowerVR gains traction outside of its Apple (AAPL:NDQ) base. The shares ease off 2.4% to 335.7p after a strong run that Shares flagged last week thanks to the new iPhone launch, and a new licensing deal with MediaTek.
Mobile specialist InternetQ (INTQ:AIM) rallies 4.3% to 320p after sealing a music streaming deal with Sony in Malaysia. We believe this offers potential to expend into other South East Asian territories in time.
Mobile app store billing is the future for payments play Bango (BGO:AIM). When this will happen remain the key question. While management continue to bang an upbeat drum, volumes so far simply do not chime. Half-year results show app store revenues of £6.6 million, minuscule compared to, say, Apple's iTunes income of $4.3 billion. Operational uncertainly was flagged by Shares back in March, and it seems that investor patience is once again being tested, the shares cut by 10% to 166p.
Cash continues to bleed out of network security minnow Corero Network Solutions (CNS:AIM) and half-year revenues of $9.5 million does nothing to lighten the scale challenge it faces, especially having now sold its profitable CBS unit in July. The shares tumble 8% to 13p.
Afferro Mining (AFF:AIM) shareholders have voted in favour of the proposed acquisition by International Mining & Infrastructure (IMIC:AIU) with a 97% majority. The takeover is expected to complete on 31 October. Afferro's shares nudge ahead 0.3% to 83.5p while IMIC advances 0.4% to 31.38p.
