3 Companies Rising on Good News for Wednesday 22nd February 2023
If you find this podcast useful please give it a rating and review on iTunes by clicking here
3 Companies Rising on Good News for Wednesday 22nd February 2023
1. - New Gold Discovery
Conroy Gold and Natural Resources announce the discovery of a new area of gold mineralisation in the Longford-Down Massif in Ireland. Visible (native) gold is present. Quartz breccia samples returned assay results of up to 123.0 g/t gold.
Against the tough economic and supply chain environment throughout the year, the Group performed broadly in-line with expectations. Group revenue growth of 1.5% to £63.5m (FY2021: £62.7m) was achieved.
Outlook
Management is optimistic about the prospects for 2023. Macro factors including COVID-19 in China and Amazon global inventory reduction are alleviating. Retail in all regions is in line with our expectations for growth, and the UK had a strong start to the year. Margins are strongly improved due to initiatives including the above items, and a second wave of price increases beginning to contribute.
In September the company undertook a Proposed Placing and Strategic Review - read more HERE
3. - Major Licensing Agreement with NEXT
Sanderson Design Group announce a major licensing agreement for its Clarke & Clarke brand in which NEXT will hold a master agreement giving exclusive rights to produce a very broad range of Clarke & Clarke homeware products including bedding, towelling, tableware, furniture and lighting.
The agreement includes a five year licence period from product launch in spring/summer 2024 following a year of product development by NEXT.
Licensing income of £2.6 million will be recognised by the Group in the current financial year in connection with the agreement, which covers the UK and Eire.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.