Company News
Exxon Q4 beats estimates on higher Permian, Guyana output
US oil giant Exxon Mobil fourth quarter profits beat estimates, despite weaker oil prices and refining margins, driven by increased production in the Permian basin at home, and in Guyana.
Director dealings: The Works chair invests, Staffline director linked to sale
Among the director dealings disclosed to markets in London today involved insiders at discount stationer The Works, and the AIM-traded Staffline Group.
Offshore wind developer Orsted CEO Mads Nipper to step down
Offshore wind developer Orsted said on Friday that Mads Nipper was stepping down from his position as president and chief executive, to be replaced by Rasmus Errboe, who is currently deputy CEO and chief commercial officer.
Fusion Antibodies validation project with US NIC progresses
Fusion Antibodies announced on Friday that its OptiMAL validation project with the US National Cancer Institute (NCI) was progressing as planned.
Metals One completes PEA for Finland Black Schist project
Metals One announced on Friday that it has completed a preliminary economic assessment (PEA) for its Finland Black Schist Ni-Cu-Co-Zn Project, identifying the Rautavaara (R1) deposit as the key economic driver.
Chevron adjusted earnings fall short of estimates
Texas-based energy giant Chevron reported fourth-quarter earnings of $3. 2bn on Friday, an increase from $2. 3bn a year earlier, although adjusted earnings of $3. 6bn fell short of analyst expectations.
Celadon still seeking finance as it draws down most of facility
Celadon Pharmaceuticals reported on Friday that it has received £0. 897m of a £1m drawdown request from its committed credit facility, with the remaining £0. 1m now expected in February.
Prospex reports rise in production from Selva Malvezzi
Prospex Energy reported a significant increase in production and revenue from the Selva Malvezzi production concession in Italy on Friday, with gross revenue for the fourth quarter reaching €3. 38m, a 91% rise compared to the final three months of 2023.
Smiths Group surges on breakup plan after activist pressure
Shares in Smiths Group surged on Friday after the engineering business said it was selling its electronic connectors unit and would demerge or offload the detection operation as part of a strategic review that includes extending its share buyback to £500m.
Novartis impresses with Q4 beat, 2025 outlook
Pharma giant Novartis comfortably beat market forecasts with its fourth-quarter results on Friday, with the Swiss firm pointing to further growth in sales and profits in 2025.
Cohort completes acquisition of Aussie firm EM Solutions
Cohort announced the completed acquisition of EM Solutions on Friday, following earlier announcements in November and January.
Faron identifies final patient in BEXMAB phase two study
Faron Pharmaceuticals announced on Friday that it has identified the final patient for its BEXMAB phase two dose optimisation study in refractory or relapsed myelodysplastic syndrome (r/r MDS) and its phase one and two study in frontline high-risk (HR) MDS.
Reabold ups stake in West Newton gas development field
Reabold Resources announced on Friday that it has completed the acquisition of additional shares in Rathlin Energy UK from Connaught Oil & Gas for £0. 7m, increasing its equity interest in Rathlin to about 79. 8%.
Gemfields reports progress in disrupted fourth quarter
Gemfields reported total auction revenue of $196m for 2024 on Friday, as it continued to invest in the expansion of its Montepuez Ruby Mine (MRM) in Mozambique.
Focusrite trading as expected amid stocking headwinds
Focusrite said in an update on Friday that trading for the first half of its financial year was expected to align with the board’s expectations, with performance anticipated to be weighted towards the second half as channel destocking in the US eased.
Alliance Pharma FY profits seen in line with expectations
International healthcare firm Alliance Pharma said on Friday that FY24 group profits would be in line with expectations despite a modest downturn in revenues.
Avon Technologies trades in line during Q1
Defence products manufacturer Avon Technologies said on Friday that Q1 trading was in line with expectations and that its outlook for the FY remained consistent with previous guidance.
James Halstead's first-half sales fall UK market remains subdued
James Halstead said it expects to hit market forecasts with its full-year forecasts, though increased confidence in international markets has been offset by subdued activity in its core UK market.
Tritax Big Box flags strong 2024 performance
Tritax Big Box reported a strong 2024 operational performance in an update on Friday, having secured £22. 7m in additional contracted rent, including one of the UK’s largest pre-lets of the year - a one million square foot facility leased to a global e-commerce company.
Tribal expects to smash forecasts with 2024 results, shares jump
Tribal Group's share price surged on Friday morning after the education tech and services group delivered a bullish fourth-quarter trading update and confident outlook for 2025.