Britain

GANs revenues remain a safe bet

GAN PLC (LON:GAN) jumped 11% to 127.7p after the company said it expects revenues to more than double in 2019 from 2018s level.

The company, a supplier of gambling software to US-based casinos, said trading had been ahead of expectations in the four months to the end of October.

“Given the rapid increase in the total addressable market for US internet gambling operators and their infrastructure providers such as GAN, we expect to see continued and rapid growth,” said chief executive Dermot Smurfit in a release.

2.15pm: Andalas hit by inconsistent flow rates

Andalas Energy and Power PLC (LON:ADL) was down 12% to 0.15p as the update on the initial flow rates of the BTN 03 well were inconsistent.

The AIM-listed oiler recently completed works to extend the life of the well, which is part of the Betun-Selo KSO project in Sumatra, Indonesia, where it is undertaking a four-well programme.

“The focus for the coming month will be improving field uptime by undertaking a field equipment maintenance programme,” Andalas said in a release.

12.45pm: AFC Energy stuns with four new brands

AFC Energy PLCs (LON:AFC) shares soared 23% to 6.1p following the announcement of four new brands as its inaugural product line of hydrogen power technologies.

Two products, called HydroX-Cell(L) and HydroX-Cell(S), are zero-emission fuel cells, while H-Power is a range of systems and AlkaMem is a group of chemicals.

The AIM-listed company is releasing the new products a month ahead of its new electric vehicle charger, creating “a zero emission, low-cost and high performing technology platform” able to compete “favourably” in the market.

11.30am: Filta Group chops earnings forecast

Filta Group Holdings PLC (LON:FLTA) plunged 18% to 157.5p after the AIM-listed firm cut its forecasts for underlying earnings (EBITDA) for the full year.

The company, which provides cleaning services to commercial kitchens in North America and Europe, now expects 2019 EBITDA to be £3mln, as opposed to £4mln set previously.

The slow progress was attributed to measures taken to process an order backlog, delayed installation work and extra personnel in the UK, although chief executive Jason Sayers said 2020 will be a year of “significant progress”.

10.30am: Altus Strategies in talks for £6mln shares sale

Altus Strategies PLCs (LON:ALS) shares were up 24% to 4.66p after the mining royalty generator announced plans for a strategic investment.

The agreement, signed with private gold investment company La Mancha Holdings, proposes that the latter will buy 124mln of Altuss shares for £6mln, to be completed in January 2020 pending shareholders approval.

“This transaction will prove transformative for Altus, providing the capital and expertise to fast track our project and royalty generation activities, as well as unlocking new external growth opportunities,” said Steven Poulton, chief executive at Altus.

9.30am: UP Global Sourcing sees no problem

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