News blog

AIM 50 Digest 10 June 2022

  • BY: Andrew Hore |
  • POSTED: 12/06/2022 |

Oil palm plantations operator MP Evans (MPE) says that the oil palm price remains strong and it has averaged $1,630/tonne in the first five months of 2022, compared with $1,127/tonne in the same period in 2021. The average mill gate price received by the company was $1,079/tonne, up from $715/tonne. Palm kernel prices are also much higher. Group production of crude palm oil is slightly lower, but more was processed in the company’s mills.
RWS (RWS) increased interim revenues by 9% to £357.3m, while underlying pre-tax profit was one-fifth higher at £60.7m. This reflects a full contribution from SDL. The interim dividend was raised 13% to 2.25p a share. Net cash was £38.2m at the end of March 2022. SaaS revenues are increasing as a proportion of the group total, and they currently contribute one-third.
Cleantech-focused investment manager Impax Asset Management (IPX) has been hit by the weak stockmarket and many cleantech companies have been among some of the worse performers. Interim revenues were 46% ahead at £88.6m, but reductions in assets under management are reducing expected revenues. Interim operating profit was £34m. The interim dividend was raised by 31% to 4.7p a share. The full year operating profit forecast has been reduced from £67.1m to £65.1m.
North Sea oil and gas company Serica Energy (SQZ) says average net production in the year to date is in excess of 26,000 barrels of oil equivalent per day. Serica’s production is more than 85% gas, which is equivalent to more than 5% of the UK’s gas production. Serica says that the new energy levy does not cover profit made prior to 26 May. Capital investment will offset a significant amount of the levy cost.
Ergomed (ERGO) says its revenues and order book continue to grow. It is expanding into new European countries. There will be a trading statement in July. More than one-fifth of the shares voted at the AGM were against the reappointment of Michael Spiteri. He was appointed to the board in October 2018 and is chair of the remuneration committee. Anne Whitaker has been appointed as a non-exec.
Next Fifteen Communications (NFC) has confirmed that it will not increase its recommended bid for advertising agency M&C Saatchi (SAA)
Keywords Studios (KWS) has acquired Forgotten Empires for up to $32.5m. The Ohio-based company develops real-time strategy games, and it has worked with other Keywords businesses. In 2021, revenues were $7.2m and they are expected to grow significantly this year.
ITM Power (ITM) says that its full year loss will be higher than expected and the cash burn was £52m -although there is still £364m in the bank. Revenues remain modest at £5.5m due to delayed deliveries of products.
Fevertree Drinks (FEVR) non-exec Laura Hagan bought 634 shares at 1575p each. Nichols (NICL) finance chief David Rattigan bought 150 shares at 1274p each.
Pan African Resources (PAF) has appointed Berenberg as joint broker.

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