Brewer Adnams (ADB) reported a decline in first-half revenues from £35.5m to £34.7m, while the loss increased from £840,000 to £1.15m. Beer volumes were 2% ahead, compared with a 1% decline in the market. Low alcohol beer sales grew. Gin sales fell because of greater competition. A fire at the Ship at Levington hampered the performance of the pubs business. Adnams made an underlying profit in 2018, thanks to better second-half performance. The new IT system went live in March and the implementation has been a distraction to management. The dividends are unchanged at 78p a share for each B share and 19.5p per A share.
NQ Minerals (NQMI) has produced 10,164 tonnes of lead concentrate, 7,431 tonnes of zinc concentrate and 46,863 tonnes of pyrite concentrate in the first half of 2019. An operating profit of A$3.6m was made on sales of A$23m.
TechFinancials (TECH) had $1.23m in the bank at the end of June 2019. A reduction in trade receivables meant that there was a small cash inflow from operating activities, but there was $402,000 capitalised developed on the blockchain ticketing system.
China-focused healthcare company MiLOC Group Ltd (ML.P) has raised £755,000 at 30p a share.
Queros Capital Partners (QCP) has gained a quotation for its bonds on the Frankfurt Stock Exchange
SME news and commentary
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