This is my new and brief segment on publicly-listed companies that saw 10% moves (either direction) in the past month after reporting an update or results.
Today, you will be reviewing companies that have reported an update or have released their results during the 15th – 19th August 2016.
Fallers
Castleton Technology PLC (AIM: CTP); - a software and managed services provider to the public and not-for-profit sectors.
The company reported full-year results on the 16th of August. The shares have fallen from £0.74/share to £0.655/share, which wiped out £6.4m in market value.
Revenue has trebled from £6.053m last year to £18m.
Losses after profit have halved from £2.9m to £1.13m.
Although shareholders’ value has more than doubled, its total debt increased from £2m to £10.8m.
Crucially, net cash operating activities saw cash outflow of £1.691m this is up from £0.163m.
Orosur Mining Inc. (AIM: OMI); - this South American-focused gold producer, developer, and explorer.
The company reported full-year results on the 16th of August.
Revenue fell from $65.9m last year to $42.9m.
The company wrote off $41m of assets last year, this year it wrote off $4.6m. Therefore, losses on earnings reduced from $54m to $1.2m.
Shareholders’ value has remained unchanged.
Crucially, net cash operating activities saw cash inflow declined from $11.4m to $6.6m.
The big factor is gold production is down from 53,485oz to 35,773oz and its “all-in-sustaining Costs” is $1,069/oz.
Following these results, the shares fell from £0.2075/share to £0.1625/share, wiping out the company’s market value of £4.4m.
But the shares are up by 250% YTD.
Antofagasta (MAIN: ANTO); - is a Chilean-based copper producer.
The company reported its half-year results on the 16th of August.
Revenue fell from $1,775m to $1,448m.
When one looks at its four-year turnover performance, it has more than halved from $6,700m to £3,394m (as of Dec 2015).
Profits are down to $158m from $184m.
The company continues to burn cash as it fell from $1,853m last year to $577.7m this year. More importantly, it continues to rely on debt with borrowings standing at $3.2bn up from $2.4bn last year.
Net cash operating activities of $500m are unable to fund net capital investment of $1.051bn, therefore relying on net financing of $309m. …
