Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
DDD looks to 3D
3D technology concern DDD Group (DDD) says rising demand for 3D systems has buoyed its trading in the first half year.
In an upbeat interim trading statement, the AIM-quoted venture reports it is continuing 'to benefit from increased demand for 3D systems', adding that 4.6 million units of the TriDef 2D to 3D technology were shipped in the six months to June by licensees in its TV and PC markets, up 268 per cent on the same period last year. Shipments by TV chip manufacturers grew 273 per cent while PC software shipments increased 194 per cent.
DDD adds that it expects first-half sales to be up 138 per cent to $2.3 million (£1.4 million.) Over the period, the company signed contracts with new customers including Intel, Samsung, LG Electronics, Chimei Innolux and two PC manufacturers that wished to remain anonymous. In its TV market it noted that Blu-ray players incorporating its 2D to 3D technology had already been shipped.
Looking forward, DDD says it recently added a PC game testing group in Australia, developed its mobile software resources and won patents in the US, Japan, China and the Philippines for its technology.
Analysts at house broker Canaccord are forecasting pre-tax profits of £300,000 ( for earnings of 0.1p a share) on sales of £3.5 million for the full year. For 2012, the broker has pencilled in pre-tax profits of £2.1 million and earnings iof 1.4p a share on revenue of £6.3 million.
Last recommended by Growth Company Investor this April at 34.25p the shares currently trade at 28.75. The trading update contains little of suprise to investors but the news of the increase in chip shipments is encouraging. We retain our speculative buy rating.
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