Apologies for my short absence owing to sickness. At least it seems I haven’t missed much at a market-wide level, however, with today’s inflation news offering UK listed stocks something to cheer. That aside, the budget remains our big unknown. At 3pm the AIM All Share was up almost 6 points at 739.56.
- Cloudcoco +175%
- Feedback +45%
- Corcel +24%
- Versarien -38%
- Sanderson Design -16%
Cloudcoco LON:CLCO is firmly at the top of the board, following news of its planned disposal of its IT Services business. Whilst there’s a lot of money changing hands, once debts are cleared it will yield just under £1m of working capital for the company. Regardless the share price has responded well, up 175% at 3pm.
Feedback Group LON:FDBK was 45% higher by 3pm. That follows news that the company is now able to access the NHS payments platform, in what it sees as a transformative progression for the business.
Corcel [LON:CRCL ] gets the notable mention, up 24%. That follows a note that derivatives play SpreadEx has significantly upped its exposure to the business, to match off client demand – although the bulk of the share price move did appear before the filing.
By 3pm, Versarien LON:VRS was the biggest faller, off by 38%. That discount reflects this morning’s placing news. Proceeds will be used to further increase the Company’s in-house concrete and mortar testing capabilities and fund external UKAS accredited testing services for 3D construction printed products.
And the luxury interior design group Sanderson LON:SDG also had a poor day, retreating 16% of the back of interims. Revenues are down by 11% but profit metrics have fared far worse. Management are optimistic that the geographic diversification into the US will prove helpful in the medium term but the 1/3rd cut in dividend is dragging, too.
