Record output at Cluff 19/03/2010
Potential bid candidate Cluff Gold produced 19,288 oz of gold in West Africa in the first two months of the year.
Fast-growing vehicle tracking systems developer Minorplanet Systems provided followers with some New Year's cheer today. The shares raced up in early trading after it revealed it is moving to the Full List on 8 January, writes James Crux.
Telematics specialist Minorplanet (MPS) said dealings in its shares will be switched to the Official List on 8 January. The move follows rapid sales growth at the Leeds-based company. Chairman Michael Abrahams cheered shareholders at the group's AGM earlier this month, saying that first quarter sales in the current year in the UK and Europe were 'well over double last year's levels'.
Minorplanet holds a 62 per cent stake in US telematics play @Track, based in Texas. Abrahams explained the company was making 'good progress' in the restructuring of @Track and was 'convinced the opportunities in the US are immense'. Back in October, the vehicle tracking venture unveiled sparkling full year figures to end-August which were in line with analysts' expectations. Sales swelled by 206 per cent to £52.9 million and pre-tax profits after exceptionals jumped from £0.7 million to £5.3 million.
Stripping out the US acquisition, sales were still an impressive 146 per cent higher at £42.6 million and pre-tax profits were 100 per cent healthier at £1.4 million. The group set up businesses in Holland, Spain, Australia, France and Germany and enjoyed an outstanding year in its UK businesses, with sales rocketing by 83 per cent to £31.7 million, bringing in pre-tax profits of £4.8 million. New customers won included the likes of Amey Highways, Morrison Construction and SITA, with companies such as P&O and Hotpoint Creda placing orders for different parts of their fleet. Turnover reached £10.9 million in Europe and Australia, with Minorplanet winning customers such as Shell Petroleum and Siemens Teece.
Investors pushed the shares up by 24p to 320p in early dealings on news of the move, valuing the business at £213 million. During 2001, the shares peaked at 535p and fell as low as 145p.
£7,277 That’s what you would have in your portfolio if you had invested £6,000 into the six Company Watch recommendations in our April 2009 issue.
Advertisement
Growth Company Investor, in association with the London Stock Exchange, presents the most wide-ranging and detailed examination of the AIM market: AIM in Review 2010. For more information and to order, click here or contact our marketing team on 020 7250 7056.
The report reveals the top-earning chief executives and remuneration levels at AIM's most profitable and fastest-growing companies. It also examines constituent parts, including basic salary, bonus, pensions, benefits and share-based payments. To order click here.
Free access to the latest AIM stock recommendations and news from the award-winning Growth Company Investor team. Receive our tips on what stocks to buy direct to your inbox every Tuesday and Friday. Find out more today.
Cautious? Positive? Adventurous? Choose between three levels of risk for a fund of funds from Sharefunds, our sister company. Click here for more information.
The brand new, fully updated AIM Guide 2009/2010 is now available to purchase. AIM Guide is the only fully comprehensive guide to AIM and is regarded as 'must-have' for any serious investor or professional interested in the market for young, fast-growing companies. Order your copy today and benefit from a £10 discount!
This report's principal aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest. Click here for more information.
Business XL, the award-winning monthly magazine for growing companies, is delighted to announce the launch of a new study on cash shells. The research provides a comprehensive overview of cash shells on AIM, companies that have become a significant feature on the AIM landscape. Buy the Cash Shells 2009 Research Report today or email Halid Delkic to obtain a free two-page abstract.
Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.
Advertisement
Potential bid candidate Cluff Gold produced 19,288 oz of gold in West Africa in the first two months of the year.
As foreshadowed in the latest Growth Company Investor, investment minnow Brainspark is buying into Italian football club AC Ancona.
Gold producer Avocet Mining hopes its Wega acquisition will take 2010 group output to 200,000 oz after a flat nine months.