Global Data slides as Sally Johnson elects to stay at Pearson in bigger role
Sally Johnson was to have become the chief financial officer of Global Data in the first quarter of this year but with the news that Pearson's head bean-counter, Coram Williams, is to leave the hard-pressed educational publishing giant, Global Data has allowed Johnson to stay on at Pearson and replace him.
Graham Lilley, GlobalData's current chief financial officer, will continue in the role until further notice.
11.30am: Pearson plunges again after trading updates gets a C-
Sentiment was further turned by the announcement that finance head Coram Williams is leaving to be replaced by his deputy Sally Johnson.
“The struggling US Higher Education business has once again blotted Pearsons copybook. In some ways, you have to feel for the group. CEO John Fallon correctly predicted the dramatic decline in print course materials and has been working hard to shift the group to a more digital set-up. Unfortunately, thats easier said than done, and customers just dont seem willing to fork out for digital what they once spent on print. Operational hiccups costing the group market share havent helped,” observed Nicholas Hyett, an equity analyst at Hargreaves Lansdown.
10.30am: Agronomics runs into aggro after reporting a 28% decline in NAV per share
The investment company focused on the nascent alternative foods sector said its net asset value (NAV) per share at the end of December had fallen to 5.2p from 7p.
The company recorded a net loss for the second half of 2019 of £493,493, versus a loss of £16,357 in the same period of 2018.
9.30am: Cora Gold surges after scoping study on the Sanankoro gold project
The group said the study of the Sanankoro Gold Project showed “good initial validation of the project's future economic potential”.
It said this indicated an 84% internal rate of return, a US$30.9mln net present value at an 8% discount rate, and an all-in sustaining cost of US$942 per ounce.
The chip-based mass spectrometry (MS) instruments specialist confirmed that revenues for 2019 significantly exceeded the previous year's while “increasing momentum is being achieved in key areas of the company's strategy”.
The board is targeting a further significant increase in revenues in 2020 underpinned by further extending its MS product offering with the launch of a range of new complete system products.
Proactive news headlines:
ECR Minerals PLC (LON:ECR) has announced that its wholly-owned Australian subsidiary Mercator Gold Australia (MGA) has received a cash refund for research and development (R&D) expenditure of A$555,212 (approximately £295,515) under the Australian governments R&D Tax Incentive scheme. In a statement, the precious metals exploration and development company said the qualifying activities pertain to research into turbidite-hosted gold deposits within MGAs exploration licences in Victoria, Australia.
Digitalbox PLC (LON:DBOX) has hailed its first year as a digital media business as adjusted pre-tax profits for 2019 came in ahead of market expectations. The AIM-listed firm, which owns celebrity news site Entertainment Daily and satire brand The Daily Mash, said in a trading update that revenues and operating margins had also come in ahead of forecasts, with the growth attributed to its Insights programme which is designed to analyse user behaviour and inform content strategy
Cello Health PLC (LON:CLL) expects to report results for 2019 in line with consensus market expectations. The group enjoyed strong cash flow in the second half of last year, as is the norm, and conversion of operating profit into cash flow was strong; as a result, the group ended the year with a better net cash position than the market was expecting.
Clinigen Group PLC (LON:CLIN) has reiterated its expectation for growth to be “towards the upper end” of its organic gross profit guidance for the current year. The pharma and services group, which supplies drugs for clinical trials and distributes unlicensed and speciality pharmaceuticals, said it expects revenue growth of 16% for the first six months of its financial year to 31 December, with constant currency growth of 24%.
Genel Energy PLC (LON:GENL) chief executive Bill Higgs has celebrated 2019 as a “successful year” for the Iraq-focused oil and gas firm. In a trading update, ahead of full-year financial results due for release on 17 March, the group told investors that it delivered some 36,250 barrels of net oil production per day from the Kurdistan region of Northern Iraq. The company pointed out that it brought 19 wells into production during 2019.
Ariana Resources PLC (LON:AAU) produced a record 27,985 ounces of gold in 2019 surpassing its forecast for the year by almost 12%. The output from its Kiziltepe mine in Turkey in the fourth quarter was also close to a new record said Kerim Sener, the miners managing director. Ariana added it now expects to repay the development loan taken out to build Kiziltepe in full in April.
Iofina PLC (LON:IOF) said 2019 was a record year for crystalline iodine production by the company and it expects this year's output to grow even more. In a market update, Iofina said full-year crystalline iodine production totalled 602.7 tonnes in 2019, up from 588.8 tonnes in 2018, with 316 tonnes of the 2019 total being produced in the second half of the year. The company currently expects to produce between 315 and 345 tonnes of crystalline iodine in the first half of this year.
Woodbois Ltd (LON:WBI) on Thursday announced a “cash flow enhancement” as it revealed details of deals with past vendors and certain lenders. The aim is to accelerate the African timber company's growth as it moves toward a cashflow Read More – Source