Reach shares rise 17.83% as 1H20 results come in above expectations
Reach, the commercial national and regions news publisher, announced 1H20 results to 28 June, which were substantially ahead of expectations.
The Company reported a strong recovery in digital advertising, and increased customer engagement across all channels, with year on year digital revenue growth in Q3 of 12.9%.
Commenting on the interim results for 2020, Jim Mullen, Chief Executive Officer, Reach plc, said: "We have seen a strong recovery in the digital advertising market since the worst impacts of COVID-19 in April which has driven a return to healthy digital revenue growth since July, assisted by increased customer engagement and loyalty. Circulation sales have also stabilised and shown a gradual recovery during Q2 and Q3."
Furthermore, the Company declared it was currently trading ahead of depressed FY20 market expectations, despite COVID-19.
The full year outlook however was heaviuly caveated with the uncertainty surrounding the maxcro-economic challenges and potential negative effects of COVID-19.
“Award-winning journalism and content enable our news brands to shape the daily conversations of millions of people. Moving forward we will see continued momentum from new and improved products. Our strengthened customer insight and innovation teams will assist us in driving stronger and deeper customer relationships, increasing our appeal to advertisers and driving revenue growth. With the business currently performing materially ahead of market expectations, the Board is recommending an issue of bonus shares to shareholders." Mr Mullen added.
UK Gold; ALBA and Scotgold Resources climb up 17.0% and 15% respectively
UK Gold investors are happy with shares in both Alba Resources and Scotgold resources seeing their shares rise.
The former recently outlined plans to mine Gold in Wales with the latter announcing its exploration update for its flagship increasing resource inventory at the Cononish Gold and Silver Mine in Scotland. Scotgold expects its first gold by 30 November 2020.
CEO, Richard Gray, commented: "Scotgold is now at an exciting juncture, with first gold expected from the Cononish Gold and Silver Mine by 30 November this year and a growing portfolio of exploration anomalies and targets. We look forward to advancing our systematic exploration program, which holds out the promise of; increasing our Mineral Resources within reach of the Cononish Mine, identifying new orebodies at Beinn Udlaidh and Inverchorachan and of course making new discoveries over the rest of our extensive Option Area on the Dalradian belt."
Bahamas Petroleum shares increase 12.5% on positive 1H20 Results.
Bahamas Petroleum (BPC) operation progress made during the six months ended 30 June 2020 was somewhat overshadowed by the merger with Columbus Resources, transforming the Company into a full-cycle oil and gas Company focused on the Caribbean and Atlantic Margin region, post period end.
Simon Potter, Chief Executive Officer of Bahamas Petroleum Company commented: "BPC finds itself transformed from where it started the year. We are now a full-cycle exploration and production company with multiple assets in one of the most exciting regions in our industry, with un-paralleled growth potential and the financial resources to enact our planned strategy."
Financial highlights reflected the strict capital discipline maintained throughout the period resulting in a cash balance as at 30 June 2020 (before completion of Columbus Merger) of over $12m (FY19: $11.1m).
Looking forward BHC confirmed operations at Perseverance #1 were to commence in late 2020 with a ork programmes being planned and implemented to increase production from between 400 to 450 bopd to a target of 500 bopd by the end of 2020, with longer term targets to increase production to 2,500 bopd net by the end of 2021.
"The next six months have the potential to be company making for BPC and, as such, we look forward to providing further updates as we continue on our journey toward completing the drilling of Perseverance #1 in early H1 2021, and as we seek to expand profitable production activities and generate positive free cashflow from across the broader portfolio." added Simon.
ValiRx shares lose a 1/3 following Disappointing Phase 1 & 2 Trial Results
Shares in ValiRx collapsed today as investors took a dim view on the headline results from Phase 1 & 2 clinical trials for VAL201.
VAL201 is a short peptide being studied for the treatment of prostate cancer. The peptide structure is inspired by the naturally occurring androgen receptor, and is designed to intercept and prevent the binding of the androgen receptor to SRC kinase - an enzyme implicated in cancerous cell growth pathways. By preventing the androgen-mediated activation of SRC kinase, VAL201 can potentially prevent cancerous cell proliferation (or growth) without interfering with other functions of either the androgen receptor or SRC kinase.
Of the 12 patients dosed with VAL201, 11 patients had sufficient PCWG2-relevant data collected across multiple cycles. 6 of these 11 have been categorised as responding throughout treatment. That is, when the treatment with VAL201 was halted for a defined reason, whether or not the 6 standard cycles had been completed, these patients showed no disease progression by PCWG2 criteria with stable disease. Disease Impact - Overall Response Rate 54.5%
Dr Suzy Dilly, Chief Executive Officer commented: "……While considering these results it is important to remember that this is only the first clinical trial using VAL201, so this data has been generated using the utmost caution in sequentially dosing patients. Nevertheless, the headline results clearly demonstrate that VAL201 has the potential to be a safe and well-tolerated drug. With this data in hand, future studies will investigate optimal dosing strategies for VAL201 and help confirm these early indications of a positive response rate."
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(Sharecast News) - London stocks were well into positive territory at the close on Friday, with banks pacing the advance after well-received results from Barclays, as investors shrugged off news that the UK's economic recovery was stalling.
Gunsynd, an investment firm operating within the natural resources sector, announced that it has invested C$0.25 million (around £0.146 million) into precious metals royalty and streaming company Empress Royalty Corp. The group said the move complements existing investments in the precious metals sector, adding new commodity exposure to silver.
Clinical stage drug development firm, Evgen Pharma, has been given the green light to kick-start its STAR trial which will investigate whether its lead asset, SFX-01, can reduce the severity, or prevent the onset of, acute respiratory distress syndrome in patients with suspected COVID-19.
Braveheart Investment Group, the AIM-listed investment firm, said its investee company, Pharm2Farm ("P2F"), will launch the sale of a new antiviral face mask that has a ‘kill rate’ of over 90% for up to 7 hours for COVID-19 by the end of the year.
London-listed Sensyne Health, the UK-based clinical AI company, announced that it has signed a research collaboration agreement with US pharmaceutical company Bristol Myers Squibb ("BMS"), marking its fourth successive partnership with a major pharma company.