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Two Inch Punch announces new project A Month Of Sundays | News
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Investegate |Gunsynd PLC Announcements | Gunsynd PLC: New Investment
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Grafton expects profits to beat forecasts after bumper March and April
A look at the major movers on the London market on Wednesday
Grafton Group PLC (LON:GFTU) expects full year profits to significantly beat forecasts after a bumper performance in March and April.
The building materials distributor and DIY firm - known for its Selco brand - said revenues between January and 18 April rose 32.9% to £846.8mln with growth in the latest two months ahead of forecasts.
It was helped by the fact that all its distribution, retail and manufacturing branches continued to trade as essential suppliers.
So it expects operating profit for the year to be 15% to 20% higher than concensus forecasts of £206mln, also helped by higher property profits. As it heads into the key trading periods of May and June, it cautioned that the outlook for the second half depended on consumer spending patterns returning to normal.
Grafton Group PLC expects profits to beat forecasts after bumper March and April
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Rincon Resources Pty Ltd ( Rincon ) The Company advised in late June 2020 that it had invested AUD$250,000 (approximately £140, 000) in Rincon, an Australian gold and base metals exploration company. At the time the Company s investment represented approximately 28% of Rincon s issued share capital. Rincon is a Western Australian ( WA ) focused gold and base metals company which holds a 100% interest in three highly prospective projects in WA; the South Telfer, Laverton and Kiwirrkurra Projects. Each project has been subject to historical exploration which has identified large outcropping mineralised systems. Rincon intends to explore the projects in order to delineate copper and gold resources. It intends to drill these three projects during the first half of 2021.The main focus is on the South Telfer Project, covering 50,000 hectares in the Paterson province. The South Telfer Project is approximately 12km south of Newcrest