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WINNERS & LOSERS SUMMARY: NMC Health Rises After Upgrading Guidance

Tue, 28th May 2019 10:40

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.

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FTSE 100 - WINNERS

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NMC Health, up 3.5%. The private healthcare operator upgraded its underlying guidance for 2019 after the formation of a healthcare joint venture in Saudi Arabia. The venture is formed by the General Organization for Social Insurance - the largest pension fund in Saudi Arabia - contributing its 39% stake in Tadawul-listed National Medical Care Co at a price of SAR54, or GBP11.36, per share and NMC contributing its five Saudi Arabian assets plus an additional USD66 million in cash at closing. In light of NMC's majority stake in the venture, as well as its management control, NMC KSA's financial statements are to be fully consolidated. NMC KSA will also recognise income from National Medical Care as share of profit from an associate. NMC upgraded its underling 2019 guidance, and expects to post revenue of GBP2.50 billion to USD2.54 billion in 2019, up from the previously guided USD2.43 billion to USD2.47 billion. In 2019, earnings before interest, taxation, depreciation, and amortisation is expected to be USD575 million to USD585 million - previously USD566 million to USD576 million.

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Antofagasta, up 1.7%. HSBC raised the Chilean copper miner to Hold from Reduce.

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FTSE 250 - WINNERS

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Amigo Holdings, up 5.0%. The guarantor loans provider reported a sharp rise in annual profit, revenue and loan book following the company's "most significant year". In the twelve months to March 31, Amigo saw its pretax profit increase 68% to GBP111.0 million from GBP66.1 million the year before. Revenue increased 28% to GBP270.7 million from GBP210.8 million. Amigo declared a maiden final dividend of 7.45 pence, resulting in a total dividend of 9.32p - which represents 50% of the company's statutory profit over the past 12 months. Looking ahead, Amigo said it has made a "solid start to the year", despite the "mood of uncertainty" around Brexit. The lender said it has not seen any "notable effect" from Brexit but will continue to monitor the situation.

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Galliford Try, up 4.5%. The housebuilding and construction company rejected a GBP950 million merger offer from Bovis Homes. Bovis wanted to purchase the Galliford's Linden Homes and its Partnerships & Regeneration businesses and intended to issue new shares to fund the deal, through which Galliford would have remained an ­independently listed company focused on construction. Galliford said the offer did not "fully value" the two businesses, and reiterated it remains confident in its long-term future. The two companies released the statements on Tuesday after media reports, with Sky News having said Saturday the two were in "secret talks". Shares in Bovis Homes were flat.

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OTHER MAIN MARKET AND AIM - WINNERS

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Tertiary Minerals, up 12%. The miner said it secured a long-term lease over nine claims on a "productive" gold belt in the US state of Nevada. The 20-year lease is on nine areas of the Pyramid mining district, which is 25 miles north-west of the city of Reno. The claims are on the Walker Lane porphyry copper/epithermal gold belt, Tertiary said, with limited historical drilling in 1989 and 1990 showing visible gold. Managing Director Richard Clemmey said: "We are delighted to have acquired an interest in the Pyramid project. Projects with high-grade gold results in drilling that have not already been followed up are hard to find in Nevada."

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Thomas Cook Group, up 7.1%. Berenberg raised the troubled travel company to Hold from Sell.

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OTHER MAIN MARKET AND AIM - LOSERS

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Albert Technologies, down 43%. The software company said it does not expect 2019 revenue to achieve market expectations, although it still will show a "significant improvement" over 2018. Revenue in 2019 thus far "has been slower than anticipated" due to a longer ramp-up time with enterprise clients, and is in line with the first quarter of 2018. Growth is expected to pick up later in 2019 based on Albert Technologies' existing client based and sales pipeline. The market had expected Albert Technologies to more than double in 2019 its revenue of USD4.6 million in 2018, but the company said Tuesday it was "unlikely" to achieve this. While Albert Technologies is expecting 2019 to "show significant improvement" over 2018, it said its short-term revenue outcome is "difficult to accurately predict". It has, however, taken steps to cut its cost base and conserve cash.

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Trafalgar Property Group, down 42% at 0.35p. The property developer said it has raised GBP250,000 through a placing, which will go towards funding new and existing development projects, as well as provide additional working capital. The company issued 62.5 million shares at a price of 0.4p per share, reflecting a 33% discount to Trafalgar's closing price of 0.6p on Friday last week. In addition, Trafalgar also announced that it has promoted Paul Treadaway as chief executive officer and executive director with immediate effect. Treadaway will be replacing CEO Chris Johnson and Executive Director Alex Johnson, who have both stepped down with immediate effect.

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Clontarf Energy, down 15%. The Ghana and Bolivia oil and gas explorer reported a significantly narrowed annual loss, on a decrease on exploration impairments. The company narrowed its pretax loss to GBP350,553 in 2018 from GBP2.8 million in 2017, as its impairment of exploration & evaluation assets significantly decreased, falling to GBP111,682 from GBP2.6 million. Clontarf's administrative expenses increased 5.5% in the year to GBP238,871 from GBP226,410 the year before. The company did not generate revenue in either period.

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Trafalgar Property raises GBP125,000 from share placing

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Trafalgar Property interim loss widens slightly as expenses increase

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IN BRIEF: Trafalgar Property seeks planning permissions for portfolio

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