Value building at Telford Homes 01/12/16
Telford Homes has released another set of reassuring results. Demand remains strong in its specialism of non-prime locations with good transport links and an average selling price in the £500,000 bracket.
Oil and gas producer Dana Petroleum says it has discovered a new oil field at North Zeit Bay in the Gulf of Suez.
The fully-listed company indicates a drill stem test at its Fin-1X exploration well produced an average flow rate of 1,049 barrels of oil a day from this onshore prospect, which is only three kilometres from another recent discovery, Lorcan, which flowed 4,714 barrels a day in June.
Dana, which currently produces from 36 oil and gas fields in Egypt, the UK, Norway and Holland, maintains the Fin-1X discovery, together with the Lorcan find, confirms 'this area will be very attractive to develop'. The company has submitted a preliminary development plan to the Egyptian General Petroleum Corporation.
Highlighted by Growth Company Investor at £10.65p early last year, Dana shares now change hands at £17.10p. Partial profit taking might be prudent, but it could be worth holding on to a chunk for potential future gains.
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The shortlists for the first two categories in the Grant Thornton Quoted Company Awards 2017 have just been released. Read on to see who has been nominated for Chairman and Non-Executive Director of the Year.
Keywords Studios continues to perform strongly and has acquired Canada’s Enzyme, which tests the localisation and functional aspects of video games. It will fit nicely with Keywords existing operations in this field and brokers are upgrading earnings by around 5 per cent.
Toople is a new brand in the corporate telecom sector. The company was founded earlier this year by CEO Andy Hollingworth who spent a dozen years at TalkTalk. He sees a major opportunity to grow in the SME market, especially those 5 million or more businesses with under 50 employees.
Kromek has been a disappointing investment since listing in 2013. It has interesting technology used in sectors where there are good growth opportunities but so far the company hasn’t delivered the sort of revenues originally targeted. However recent contract wins hold out the prospect of improved visibility.
Third party logistics provider Wincanton has released interims showing its recovery is firmly on track. The share price responded well, taking the stock close to a five-year high, but there’s still plenty of value on offer with a p/e of less than 8 times current year earnings and a yield of 4.5 per cent.