PZ Cussons (PZC) shares ticked up 2.37% to 260p as it forecasts profits ahead of consensus
In a trading update released last week, PZ Cussons reported steady revenue growth of 7% across all regions and its hygiene, baby and beauty brands in the financial year to 31 May.
As a result of a strong performance, the group said it expects adjusted pre-tax profit to come in ahead of consensus and the prior year. Jonathan Myers, Chief Executive Officer of the Group, has described the period as a year of “solid progress and broad-based growth.”
Addressing shareholders, he commented, “We rolled out our new strategy - Building Brands for Life, Today and for Future Generations - and have already started to deliver against it.”
Orosur Mining (OMI) shares soar 83.9% to 24.6p as it recovers high-grade gold intersections
The South American-focused gold exploration and development company posted a positive update this morning on its Colombian drilling programme at the Anzá project in Colombia.
The Company said it has received assay results for nine additional diamond drillholes which have demonstrated multiple high-grade gold intersections with associated silver and zinc.
The primary objective of its exploration program is to determine the potential of the Anzá land package to host a large gold mineralisation system. Once targets have been finalised in the coming weeks, the required logistical work will start to open up these areas for drilling.
Zoltav Resources (ZOL) shares jumped 14.47% to 43.5p as it slashes its losses by 69%
In its final results for the year to 31 December 2020 released last week, the Russia-focused oil and gas exploration and production company slashed its losses over the period by 69%.
Revenues grew 2% to RUB 1.24bn (FY19: RUB 1.22bn) while the Group’s operating loss decreased by 69%, compared to its FY19 results which were affected by impairment charges.
The Group said it continued to progress the drilling programme at the West Borovoy field during 2020 while the group also completed a feasibility study on the East Bortovoy fields.
Oriole Resources (ORR) shares rose 14.29% to 0.6p as it confirms gold across four targets
The West African-focused exploration firm announced in an update last week that it had confirmed gold across all four prospects at its 51%-owned Bibemi gold project in Cameroon.
The best intersections from holes BBDD010 to BBDD029 included 3.10 metres ('m') grading 1.07 grammes per tonne gold and 0.80m grading 27.90 g/t Au, the latter of which correlates with a previously reported visible gold interval which was published in April 2021.
To date, the pilot programme has delivered a greater than 50% success rate in intersecting significant (>0.3 g/t Au) mineralised intervals and the system remains open at depth, it said.
Virgin Money (VMUK) shares fell 4.64% to 195.32p despite analysts revisions to ‘stable’
Despite shares being down this afternoon, on Monday, analysts at the American credit rating agency, Fitch Ratings, revised its outlook on the stock to ‘Stable’ from ‘Negative.’
Fitch highlighted that its revised outlook was a reflection of the improved expectations for the UK's economic recovery. “Consequently, we believe that downside risks to VMUK's asset quality, capitalisation and strategic execution have reduced,’ analysts wrote in their note.
The Company stated that ‘Funding is stable, supported by VMUK's large retail and SME deposit base and demonstrated access to wholesale funding and access to the Bank of England's term funding schemes. It added that liquidity has also been ‘prudently managed.’