Three developing stories at the UK stock market open.
1. Speedy Hire downgrades profit outlook
Speedy Hire LON:SDY has this morning issued a trading update for the 10 months to 31st January. Although some good growth was seen towards the end of last year, with a notable year on year improvement seen in December, broader economic headwinds are dragging and management note that this is likely to result in lower than forecast levels of profitability for the full year.
2. LungLife AI eyes delisting
LungLife AI LON:LLAI, the developer of clinical diagnostic systems for lung cancer has this morning announced that it plans to cancel its admission to AIM. With funding options failing to materialise and a limited cash runway that will only last until the second quarter, management feel they have few options but they plan to continue trying to raise money as a private company. Should that not work, then an orderly winding up of the business will follow.
3. Drill results from Zimbabwe impress for Ariana
AIM-listed Ariana Resources LON:AAU has this morning advised the market of “excellent” drilling results at the Dowke gold project in Zimbabwe. This is allowing even more robust modelling of the mineralisation and reinforcing the potential of this high quality asset.
