Audioboom edges higher after revealing revenue will top expectations

0 35

Audioboom Group PLC (LON:BOOM) edged 5% higher to 696.25p in late morning after announcing full-year revenues will be well over the current market expectations.

The podcast firm has continued to see “strong sales momentum” amid a content-focused expansion plan, with performance lifted by new advertising bookings.

The AIM-listed group signed advertising bookings for the year now represented over 95% of its recently upwardly revised market forecast for revenue in 2021.

9.35am: Workspace Group drops on Barclays double-downgrade

Workspace Group PLC (LON:WKP) shed 6% to 783.5p after the shares were double-downgraded by Barclays, who said “too much” reopening optimism was priced into the shares.

Analysts at the bank noted that after office take-up collapsed in all London sub-markets in 2020, vacancy rates have roughly doubled with City sub-markets now at nearly 11% and availability of space is almost at 20-year record levels.

Barclays moved two marks down to an ‘underweight’ rating on the shares from the previous ‘overweight’, cutting its share price target to 700p from 745p.

Meanwhile, Fulham Shore PLC (LON:FUL) advanced 5% to 16.74p after announcing that 70 of its 72 Franco Manca and The Real Greek restaurants were open for business.

Group sales in the week ended Sunday April 18 were described as “very encouraging”; not only were they up on the previous week but also better than in the same week in 2019, when the word “pandemic” was still largely thought of as a halfway decent score in Scrabble.

The group continues to identify potential new locations for its two businesses. In the last two weeks, it has inspected sites in many towns and cities across the UK including London, York, Durham, Newcastle, Edinburgh, Glasgow, Cardiff, Liverpool and Manchester, for either new or additional sites.

8.40am: Bigblu Broadband rises early after proposing sale of holding in Quickline

Bigblu Broadband PLC (LON:BBB) was an early riser on Friday, surging 18% to 127.5p after proposing the sale of its holding in Quickline, the holding company for Quickline Communications.

The AIM-listed broadband services provider has agreed a deal with private markets investment firm Northleaf Capital Partners valuing the shareholding at up to £48.6mln, which is a return of up to 5.8 times the cost of the initial investment.

Of these, £41.1mln will be paid in cash and £5.6mln in loan notes on completion.

Elsewhere, Symphony Environmental Technologies PLC (LON:SYM) advanced 8% to 24.3p after its d2p antimicrobial film will cover seats and handles for buses of Guarulhos, in Brazil.

The AIM-listed firm said a donation has been made to provide material for 858 vehicles, protecting over 400,000 passengers from coronavirus and other bacteria and fungi normally present on surfaces.

Guarulhos becomes the first public transport system in the world to incorporate d2p anti-microbial technology to protect the health of its users.

Leave A Reply

Your email address will not be published.