News blog

AIM 50 Digest 15 April 2022

  • BY: Andrew Hore |
  • POSTED: 17/04/2022 |

Tour operator and airline Jet2 (JET2) says that its loss will be slightly lower than expected in 2021-22. Bookings are increasing and pricing is holding up. Customers are also seeking longer and higher quality holidays. Peel Hunt forecasts a jump in 2022-23 revenues from £1.18bn to £4.53bn and that could generate a pre-tax profit of more than £300m. If momentum continues, then this forecast could be upgraded.
Full year results from marketing services provider Next Fifteen Communications (NFC) show revenues of £362.1m, which includes organic growth of 26%. Pre-tax profit was 62% higher at £79.3m, while earnings were 47% ahead at 59.7p a share. The final dividend was raised by one-fifth to 8.4p a share and the total for the year is 12p a share. Net cash was £35.7m at the end of January 2022, although some of that has been spent on acquisitions. Peel Hunt as edged up its 2022-23 pre-tax profit forecast from £99.4m to £103.1m.
FD Technologies (FDP) achieved annual recurring revenues growth of 25% in 2021-22 thanks to higher sales of KX-insights software. This is before the benefits of the Microsoft Azure integration. 
Watkin Jones (WJG) expects to increase interim revenues, although this is partly due to land sales so profit could be lower. Higher building costs are being managed and full year profit should still be higher due to the timing of development completions.
Central Asia Metals (CAML) reported first quarter zinc output of 5,240 tonnes and lead output of 6,740 tonnes at the SASA mine. There was 3,020 tonnes of copper production at Kounrad.
Sheikh Holdings, effectively the management of the business, has increased its proposed bid for CareTech Holdings (CTH) to 750p a share, compared with the rival consortium offer of 725p a share.
Polar Capital (POLR) increased its assets under management from £20.9bn to £22.1bn in the year to March 2022, although this was a decline from £24.3bn in the previous quarter. Impax Asset Management (IPX) assets under management fell 8% to £38bn in the latest quarter. That was down to market declines.
Soft drinks maker Nichols (NICL) has completed its share buy back by acquiring a total of 453,486 shares at weighted average of 1428.18p a share.
Victoria Plumbing (VIC) chief executive Mark Radcliffe has bought another 700,000 shares at 50.6p following the continued decline in the share price. Smart Metering Systems (SMS) director Graeme Bissett bought 4,818 shares at 830.04p each. Former Keywords Studios (KWS) boss Andrew Day has reduced his stake to below 3%.

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