Full year numbers from the HR supplier Mind Gym were published this morning and a big contraction in spend from US technology firms has hit the company’s performance hard. Interestingly the numbers called out a decline in client spend on DEI (Diversity, Equality & Inclusion) something which had bolstered the metrics in the comparative period. With last year’s £3m profit swinging to a £12.1m loss, even with promises of cash generation being seen in FY25 the fact reserves are looking depleted is clear cause for concern. Shares were trading 28% lower just before 9am.
A small cap mining firm saw its shares surge this morning after announcing that an investor was set to buy 51% of the company’s Muchesu coal mine operation in Zimbabwe. That gives royalty assurances to Contango and the investor has also committed to match historic investments. Shares traded as much as 65% higher shortly after the bell before easing with gains around 27% at 9am.
And a UK based diagnostics developer, Cizzle Biotechnology, has this morning advised the market of a pair of updates. Two lines of work into cancer research are being extended by the company, with accompanying funding having also been received. This is a complex, multi-part deal but ultimately the market seems happy with the outcome although today’s 15% gain simply reverses the losses accrued over the last week.
Headlines we expect on Tuesday
Ashtead Group Q4 & FY Results
This time last year (FY) Revenue $9667m, Operating Profit $2522, Total dividend $1
Will the company make any further comment about moving its listing to the US?
De La Rue Final Results
This time last year Revenue £350m, Adjusted Operating Profit £27.8m, Net Debt £83.1m
