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Share Price: 7.50

Bid: 7.00

Ask: 8.00

Change: 0.00 (0.00%)

Spread: 1.00 (14.286%)

Open: 7.50

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Motivcom undone by events

Tue, 27th Sep 2011 18:18

Employee benefits and corporate events management firm Motivcom saw its shares lose almost one-sixth of their value after it issued a profit warning along with its interim figures, but the company is confident that revised market expectations for the full-year are achievable.House broker Numis Securities has cut its full-year profit before tax forecast from £5.0m to £3.8m, a level tacitly endorsed by Moticom's management."We've been downgraded by Numis," noted Sue Hocken, the group's financial director. "We have set the [full-year] forecast at a cautious level, and we have no wish to revisit it," Hocken told Sharecast.The problem with the company's interim results was not so much the half-year figures as the outlook for the second half.Revenue in the first half of 2011 rose to £52.6m from £47.3m but headline profit before tax slumped by 39% to £1.5m from £2.5m last year, though the company always knew it would be hard to match last year's performance."We had a terrific 2010, it was like two years in one," John Sylvester, the executive director of Motivcom's Motivation and Incentive Services division told Sharecast, noting that last year presented a big bounce back from a poor 2009, and was boosted by the commercial opportunities offered by the FIFA World Cup."We were hoping for some modest growth in 2011, but it has swung right back down," he added.One area of the group's business, that of finding venues for conferences and meetings, is regarded as a good indicator of business sentiment, and after tailing off as usual in the summer it has "just not seen that return we were expecting," Sylvester admitted."It's been a tough year. We have been hit by a dip in the events market that we had not anticipated, but we are reacting to it," Sylvester maintained.The good news is that the company is cash generative, has a cash pile of some £7.2m, up from £5.0m the year before, and therefore has the money to continue investing in its strategy."We will not be diverted from our strategy and we will continue to invest in the business," Sylvester proclaimed.Hocken chipped in with the information that the money is there for a small to medium acquisition as well, should the opportunity present itself.In the meantime, the interim dividend has been increased by 15% to 1.15p from 1p last year, as a sign of confidence in the future.--jh

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29 Apr 2022 09:41

MC Mining seeks to raise funds after boosting output in third quarter

(Alliance News) - MC Mining Ltd said on Friday it was exploring ways to raise funds as the coal miner reported an increase in production in the third quarter, taking advantage of high prices.

13 Apr 2022 13:44

IN BRIEF: MC Mining completes feasibility study at the Makhado project

MC Mining Ltd - Western Australia-based developer and producer of thermal and coking coal with projects in South Africa - Completes its bankable feasibility study at its Makhado hard coking coal project in the Limpopo province. Expects to finalise the financing for the project in the third quarter of 2022, with construction commencing soon after.

8 Apr 2022 15:02

IN BRIEF: MC Mining Executive Director Randazzo steps down

MC Mining Ltd - South Africa-focused coal miner - Executive Director San Randazzo will step down with immediate effect, but will remain in the role of interim CEO until the board finds a suitable replacement. Randazzo has been part of MC Mining for three years since 2019.

4 Apr 2022 15:45

UK shareholder meetings calendar - next 7 days

Tuesday 5 April
Allied Minds PLC	GM
Athelney Trust PLC	AGM
Scottish American Investment Co PLC	AGM
Wednesday 6 April
Downing Renewables & Infrastructure PLC	AGM
Thursday 7 April
RM PLC	AGM
Friday 8 April
Path Investments PLC	GM re DG Innovate purchase and name change
Rio Tinto PLC	AGM
Monday 11 April
MC Mining Ltd	EGM
Gore Street Energy Storage Fund PLC	GM re investment and dividend policy
TruFin PLC	GM re equity raise

Copyright 2022 Alliance News Limited. All Rights Reserved.

14 Mar 2022 09:33

IN BRIEF: MC Mining loss narrows on higher revenue thanks to Uitkomst

MC Mining Ltd - South Africa-focused coal miner - Reports pretax loss of USD1.3 million in the six months to December 31, narrowed from USD2.9 million a year prior. Revenue rises to USD13.0 million from USD8.8 million. MC Mining does not pay dividends.

11 Mar 2022 08:46

IN BRIEF: MC Mining chair exits, Mosehla steps in on interim basis

MC Mining Ltd - coal miner focused on South Africa - Bernard Pryor will step down as chair from Friday. Long standing Non-Executive Director Khomotso Mosehla has been appointed as an interim chair pending the outcome of the shareholder requisitioned meeting scheduled for April 11.

1 Mar 2022 12:28

IN BRIEF: MC Mining well placed to develop Makhado project in SA

MC Mining Ltd - coal miner focused on South Africa - Announces that subsidiary Baobab Mining & Exploration Pty Ltd has paid final instalment of ZAR35 million for the the Lukin and Salaita properties, which make up the Makhado hard coking coal project in South Africa.

14 Feb 2022 09:17

IN BRIEF: MC Mining shareholders call for GM in bid for board changes

MC Mining Ltd - coal miner focused on South Africa - Receives notice from shareholders to requisition a general meeting to consider board changes. Proposed board removals are of interim Chief Executive Sam Randazzo as well as Chair Bernard Pryor. Proposed replacements include the appointment of former South African minister of finance, Nhlanhla Nene, and former Anglo American Coal CEO, Godfrey Gomwe. Gomwe is also currently a non-executive director of Orion Minerals Ltd and AECI Ltd.

1 Feb 2022 11:01

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Mc Mining Share News (MCM)

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Motivcom undone by events

MC Mining seeks to raise funds after boosting output in third quarter

IN BRIEF: MC Mining completes feasibility study at the Makhado project

IN BRIEF: MC Mining Executive Director Randazzo steps down

UK shareholder meetings calendar - next 7 days

IN BRIEF: MC Mining loss narrows on higher revenue thanks to Uitkomst

IN BRIEF: MC Mining chair exits, Mosehla steps in on interim basis

IN BRIEF: MC Mining well placed to develop Makhado project in SA

IN BRIEF: MC Mining shareholders call for GM in bid for board changes

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