In a quiet day for corporate news, attention is focused on a number of the smaller cap stocks. However, product placement and content company Mirriad Advertising stood out following news of a programmatic partnership with TripleLift, who operate a supply-side platform for advertising. The note adds that the two companies aim to create a marketplace that includes content from leading entertainment conglomerates as well as diverse content partners across a range of digital video formats. Investors certainly appear to see the value in the deal, with the stock trading 26% higher just over an hour into the day.
The offshore energy market supplier Tekmar saw its shares sitting 14% higher in early trade this morning after markets received news that it had been awarded contracts worth in excess of £4m for delivery in the current financial year, along with an additional £2m deal for FY25. The combined impact here is to lift order intake for the financial year to date to £23m, building on the recent positive momentum seen by the group.
The coal miner Bens Creek had a less robust start to the day, despite announcing a 20,000 ton “off spec” coal sale to Avani, the company’s largest shareholder. $50 per ton has been paid up front with a further $10 per ton due on delivery. This is sub-grade coal, but provides a meaningful cashflow boost to the company which continues to battle against reduced production capacity, has drawn down credit lines in full and remains loss-making at the operational level. Shares dropped 25% in early trade.
Headlines we expect on Tuesday
JTC Final Results
This time last year Revenue £200m, Pre-tax profit £35.9m, Dividend 9.98p
Hvivo Final Results
This time last year Revenue £50.7m, EBITDA £9.1m, Contracted orderbook £76m
