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SMALL-CAP WINNERS & LOSERS: Petrofac jumps on USD200 million contract
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
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Petra Diamonds Information
Share Price Information for Petra Diamonds (PDL)
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Share Price:
40.10
Bid:
40.00
Ask:
40.10
Change:
0.10 (0.25%)
Spread:
0.10 (0.25%)
Open:
40.10
High:
40.10
Low:
40.00
Prev. Close:
40.00
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Don't have an account? Click here to register.Tuesday newspaper share tips: Not convinced by Kingfisher's transformation plan
Tue, 26th Jan 2016 10:39
(ShareCast News) - Kingfisher's transformation plan announced on Monday didn't convince The Times' Tempus on Tuesday.The B&Q owner announced a five-year transformation programme on Monday, saying it plans to deliver a £500m sustainable annual profit uplift by the end of the process.However, it warned that profits were likely to take a take a £50m hit in the first year of the plan and a hit of between £70m and £100m in the second year.The company said it also plans a capital return of £600m over the next three years - most likely via a share buyback - in addition to the annual ordinary dividend.In a statement ahead of the group's capital markets day yesterday, chief executive officer Veronique Laury said "we do acknowledge the challenges ahead, however having already made good progress since March last year, and with 80,000 committed colleagues, we feel confident about our plan and look forward to moving on to the first year of our transformation".Tempus said the market doesn't believe the plan is achievable or that it will do enough to help the company."There were surprisingly negative reactions from some analysts, including at least one comparison with Marc Bolland's doomed attempt to turn around Marks & Spencer."Crunching the numbers, the column said savings will mainly come from the UK and France, which makes up 40% of all sales, and it plans to expand its digital sales offering.However Tempus said the main concern is the future of Homebase, which is set to be bought by Australian company Wesfarmers."The new owner has ambitious plans for the chain, which does not augur well."With that in mind, it said markets will continue to be tough with more competition and advised traders 'avoid for now'.Meanwhile, in The Telegraph, Questor has warned that Petra Diamonds is a high-risk at a critical juncture.In a trading update for the six months to the end of December, the company said production was up 2% to 1.63m carats, exceeding its output target of 1.5m carats.In addition, Petra said it remains on track to achieve full year production guidance of between 3.3m and 3.4m carats for 2016.However, revenue in the period fell 28% to $154m (£108m) as the number of diamonds sold was down 7% and rough diamond prices slid around 9% on the year.Chief executive Johan Dippenaar said: "Importantly our expansion programmes remain on track to deliver the first significant input of undiluted ore from the new mining areas in H2 FY 2016, which will lead to improved ROM grades and a better product mix."Questor said the company is sinking millions into some of the oldest diamond mines in South Africa, however the commodity cycle is unravelling and diamond prices are falling."The vast spending comes after the market turned against Petra," it said."The company is selling fewer diamonds and at lower prices, with 1.3m carats sold in the six months to December, down from 1.4m the year before."Questor said the cash outflow is worrying, with levels dropping from $125m to $42m over six months to December, with net debt increasing to $324m.For that reason, it advised to 'sell' shares.
More News
20 Feb 2024 11:57
LONDON MARKET MIDDAY: Banking stocks drag FTSE 100 into green
(Alliance News) - Stock prices in London were mixed at midday Tuesday, after a busy morning of corporate updates and earnings.
Read more20 Feb 2024 10:19
Petra Diamonds shares down as revenue drops on lower diamond sales
(Alliance News) - Petra Diamonds Ltd on Tuesday said it swung to a loss in the first half of its financial year due to higher costs and saw its revenue decline due to a fall in diamond sales.
Read more20 Feb 2024 10:11
SMALL-CAP WINNERS & LOSERS: Superdry up on reports of takeover talks
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Tuesday.
Read more20 Feb 2024 10:04
Petra Diamonds trims production guidance after earnings slide
(Sharecast News) - Shares in Petra Diamonds were sliding on Tuesday morning, after the company reported a decline in first-half revenue and earnings and lowered its production outlook for the full year.
Read more16 Feb 2024 10:40
IN BRIEF: Petra Diamonds reports drop in fourth tender sales
Petra Diamonds Ltd - diamond mining group focused on southern Africa - Says sales in its fourth tender declined. Sales in the period, which runs until February, total USD47.8 million, fall 30% from USD67.9 million in tender three which concluded in December. Tender 4 sales weaken by roughly a third year-on-year from USD72.1 million, it adds. The average price per carat declines 22% to USD112 in the most recent tender from USD143 a year prior.
Read more16 Feb 2024 09:58
SMALL-CAP WINNERS & LOSERS: XP Power plunges on revenue caution
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
Read more16 Feb 2024 09:06
Petra Diamonds sales rise slightly in fourth tender cycle of FY24
(Sharecast News) - Mining company Petra Diamonds said on Friday that sales had slightly grown in 2024's fourth tender cycle, principally driven by higher prices throughout the period.
Read more13 Feb 2024 14:34
UK earnings, trading statements calendar - next 7 days
| Wednesday 14 February | |
| Coca-Cola HBC AG | Full Year Results |
| Dunelm PLC | Half Year Results |
| Pan African Resources PLC | Half Year Results |
| Severn Trent PLC | Trading Statement |
| United Utilities Group PLC | Trading Statement |
| Thursday 15 February | |
| Benchmark Holdings PLC | Q1 Results |
| Centrica PLC | Full Year Results |
| MJ Gleeson PLC | Half Year Results |
| Relx PLC | Full Year Results |
| South32 Ltd | Half Year Results |
| Friday 16 February | |
| NatWest Group PLC | Full Year Results |
| Segro PLC | Full Year Results |
| TBC Bank Group PLC | Full Year Results |
| Monday 19 February | |
| Bank of Cyprus Holdings PLC | Full Year Results |
| MoneySupermarket.com PLC | Full Year Results |
| Transense Technologies PLC | Half Year Results |
| Wilmington PLC | Half Year Results |
| Tuesday 20 February | |
| Barclays PLC | Full Year Results |
| BHP Group Ltd | Half Year Results |
| Coca-Cola Europacific Partners PLC | Full Year Results |
| Gran Tierra Energy Inc | Full Year Results |
| InterContinental Hotels Group PLC | Full Year Results |
| Petra Diamonds Ltd | Half Year Results |
| Springfield Properties PLC | Half Year Results |
| Comments and questions to newsroom@alliancenews.com | |
| A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional. | |
| Copyright 2024 Alliance News Ltd. All Rights Reserved. | |
16 Jan 2024 12:21
Petra Diamonds revenue falls due to lower diamond prices; output up
(Alliance News) - Petra Diamonds Ltd on Tuesday reported a decline in revenue despite an uptick in production and sales, as the price of diamonds fell.
Read more16 Jan 2024 11:32
Petra Diamonds on track, sees signs of price stabilisation
(Sharecast News) - South Africa and Tanzania-focused diamond miner Petra said it remains on track to hit its full-year production guidance and reported "encouraging" signs of a recovery in prices after a tough year for the industry.
Read more14 Dec 2023 17:20
EARNINGS AND TRADING: abrdn Diversified Income to begin wind-down
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
Read more13 Dec 2023 12:38
IN BRIEF: Petra Diamonds signs deal for sale of Koffiefontein mine
Petra Diamonds Ltd - diamond mining group focused on southern Africa - Signs non-binding term sheet with an unnamed party for the sale of its Koffiefontein diamond mine in South Africa. The company has been considering an exit from the site since April 2022, and continues to move towards the mine's closure. A closure application is expected to be submitted to the South African Department of Mineral Resources & Energy in February 2024, which will only be withdrawn upon this potential sale's completion. The sale would also be subject to the consent of the DMRE. Petra says it is committed to ensuring the future owner "has the technical and financial capability to conduct operations in a responsible manner for all stakeholders".
Read more8 Dec 2023 10:14
SMALL-CAP WINNERS & LOSERS: Petrofac rises further; Petra shines
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.
Read more8 Dec 2023 09:45
Petra Diamonds revolving credit increase approved; diamond prices up
(Alliance News) - Petra Diamonds Ltd on Friday said the increase of its revolving credit facility has been approved, while also reporting a growth in diamond prices at its latest tender sale.
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