Activity has focussed on the continued clean-up of the Kyalla 117 well at the Beetaloo prospect in preparation for extended production testing. The well has begun flowing again without assistance for intermittent periods; however, production has not been sustained and there is evidence of a potential downhole flow restriction, Falcon revealed.
Operations will now be temporarily paused while the cause of the restriction is investigated, the results of which will inform the development of a new go-forward plan for Kyalla 117.
1.40pm:Asa International rises after collection efficiency update
A business update from Asa International Group PLC (LON:ASA) sent the company’s shares 8.7% higher to 124.5p on Tuesday.
The microfinance specialist said liquidity remains higher with about US$108mln of unrestricted cash and cash equivalents sloshing around the group. Except for India (55%), Sri Lanka (38%) and Myanmar (70%), all other operating companies achieved collection efficiency of more than 94% in the first half of the year.
The pipeline of funding deals under negotiation totalled about US$163mln.
12.45pm: Wilmington performs ahead of expectations
Wilmington PLC (LON:WIL) said it performed better than expected in the year just ended, prompting a 6.7% rise in the share price to 222p.
The provider of data, information, education and training services in the global governance, risk and compliance (GRC) markets said it finished the year ahead of plan on the key performance indicators of revenue, adjusted profit before tax and net debt.
Trading in both the Information & Data, and Training & Education divisions was strong in the second half of the financial year resulting in group revenue for the year being unchanged on the previous year, despite the lack of face-to-face training or events.
11.50am: FireAngel springs another pleasant surprise
Every three months FireAngel Safety Technology Group PLC (LON:FA.) seems to catch the market on the hop with some good news and it did it again today.
Shares in the home safety products supplier rose 6.1% to 17.5p after it reported an improved performance in the first half of the year, in line with the board’s expectations.
While COVID-19 restrictions combined with ongoing challenges in global supply chains reduced the ability to exploit fully the growing demand for FireAngel’s connected products, the board is pleased to have remained on track.
10.55am: Sanderson Design benefiting from “the trend towards maximalism”
Sanderson Design Group PLC (LON:SDG) jumped 13% to 166p after it said it is trading ahead of expectations.
The luxury interior design and furnishings group, which is holding its annual general meeting today, said the positive trading in February, March and April 2021, outlined in its full-year results announcement on 18 May 2021, has continued throughout the 23-week period with the result that profits for the six months ending 31 July 2021 are expected to be ahead of board expectations.
The board believes the group is benefiting from the convergence of three positive impacts: (1) pent up demand for home interiors, (2) the trend towards maximalism [whatever that is], and (3) the post-Brexit increased demand for British design and manufacturing.
10.00am: Fevertree down ag’in
The shares dived 7.8% to 2,260p as the maker of the heavily hyped Fever-tree mixers warned of margin pressures.
Fevertree anticipates that the EBITDA (underlying earnings) margin will be around 20.5% for the first half of 2021, down from 22.6% in 2020 and 29.6% in 2019.
9.05am: Goldplat higher after extending Kilimapesa payment deadline; 600 Group‘s order book expands
The asset has been sold to Mayflower Gold Investments, which had hoped to complete a reverse takeover of Papillon Holdings by 16 July to secure a stock exchange listing.
Goldplat has provided Mayflower Gold and Papillon an extension to 23 August 2021 to complete the re-admission to trading on the London Stock Exchange.
The diversified industrial engineering company said the order book, which stood at US$14.1mln at the end of March, has now grown to US$22.5mln.
Net debt over the same period has narrowed to US$12.8mln from US$14.2mln.