<

Good Energy (GOOD) continues to refocus on the small business market and services, such as electric vehicle charging. The renewable energy supplier increased revenues from continuing operations by 3% to £63.5m. The higher cost of sales was offset by lower overheads. Pre-tax profit edged up from £2.4m to £2.5m. Disposals helped to reduce net debt to £35.5m. The dividend was increased by 10% to 1.1p a share. There was a surge in feed-in tariff (FiT) customers prior to the closure of the scheme earlier this year, but domestic supply customers declined.

IFA consolidator AFH Financial (AFHP) has made two more acquisitions. Twickenham-based Mulberry Independent Financial Advisers will cost up to £5.3m, while AE Garment Independent Financial Services will cost up to £1.9m. There is an initial total cash outflow of £3.3m. Following the deals, AFH has assets under management of £5.6bn.  

World High Life (LIFE) joined NEX Exchange on 12 September. The investment company intends to acquire businesses involved in medicinal cannabis and related products, including nutraceuticals and cosmetics. There is enough cash in the company to assess acquisitions and undertake due diligence. Chairman and chief executive David Stadnyk has been involved in the cannabis sector in Canada since 2012 and he helped to develop the regulations for the sector.

Bracken Trading 1.5% preference shares (BRAC) have started trading on NEX Exchange. Bracken is involved in lending in the residential property sector and also operates two solar farms. The quotation is expected to provide finance through the placing of additional preference shares. So far £10,000 worth have been issued. Bracken has repurchased ordinary shares valued at £9m. A pre-tax profit of £1.46m was generated in 2018.

Rutherford Health (RUTH) is raising a further £12.5m at 176p a share from LF Woodford Equity Income Fund and Woodford Patient Capital Trust.

EPE Special Opportunities (ESO) increased its NAV by one-fifth to 245.5p a share, helped by a strong recovery in the share price of fully listed-Luceco (LUCE) and that business is continuing to improve its trading.

LED lighting and electrical accessories supplier Luceco increased interim revenues by 10% to £82.7m and gross margin improved from 26% to 35%. That enabled Luceco to return to profit in the period. Underlying pre-tax profit was £6.1m. An interim dividend of 0.6p a share was announced and the dividend payout percentage will be raised from 20% to 25%. There have been manufacturing efficiency improvements in China and UK retail demand has rebounded. The main profit improvement was in the wiring accessories division, but both LED lighting and portable power divisions returned to profit. There has been director share buying following the results.

Kyler Hardy has been appointed as chief executive of Imperial X (IMPP) and Emma Priestley and Kyle Hookey have also joined the board. Hardy has a 12.5% stake and Priestley owns 5.4%. Palace Trading Investments has sold 4,615,000 shares at 2p each, leaving it with 685,000 shares.

Equatorial Mining and Exploration (EM.P) has raised £500,000 at 0.01p a share, which includes £95,000 of shares to pay creditors. Director Michael Staten has converted £82,500 of convertible debt into shares. He subsequently sold 550 million shares at the 0.1p conversion price.

Vi Mining (VIM) says Jilde Zeitlin has stepped down as chairman and he will be replaced as non-executive chairman by David Summer. Allan Rowley will take over as chief executive from Summer and he will remain finance director.

 

NEX Exchange Limited (”NEX Exchange”) accepts no responsibility for the content of this article or for any reliance placed by you or any person on the information contained therein.

By providing access to this material NEX Exchange does not intend to solicit business or offer any securities to any person in any country, whether directly or indirectly.

Articles available on nexexchange.com may be produced by independent third parties and are for distribution only under such circumstances as may be permitted by such third parties and applicable law. They are published solely for informational purposes and should not be construed as a recommendation to sell, buy or hold any product, investment, security or any other financial instrument. Any opinion, view or idea contained in any article is the author’s own and does not reflect or represent the opinions, views or ideas of NEX Exchange, nor any of its affiliates, directors, officers, employees or agents. Publication of the article does not signify endorsement by NEX Exchange of any of the information contained therein. NEX Exchange is not involved in the preparation of any such articles and does not make any representation or warranty, express or implied, as to the accuracy, completeness, suitability or correctness of any of the information presented by individual authors in the articles. In no circumstances will NEX Exchange, or any of its affiliates, directors, officers, employees or agents, be liable for any indirect or direct loss, or consequential loss or damages including without limitation, loss of business or profits arising from the use of, any inability to use, or any inaccuracy in the Information or views contained in the articlesAny opinions expressed in the articles are subject to change without notice and are not to be relied upon as investment advice, which should be sought from your independent advisers. NEX Exchange is under no obligation to update or keep current the information contained in the articles.

Please refer to the NEX Terms of Use for further information