Future in demand after update on GoCompare acquisition
A look at the major movers on the London market on Wednesday
1.11pm: Publisher pleases at presentation
Future PLC (LON:FUTR) has been lifted by a presentation to analysts this week on price comparison websites.
The company, which recently bought GoCompare, believes such websites can continue to add value for consumers and also product providers.
It said the integration of GoCompare was going well, according to Roddy Davidson of Shore Capital, who issued a buy note on the business.
Davidson said: We were encouraged by the positive points stressed in yesterday’s presentation and see good structural growth prospects for the price comparison website [PCW] market through attracting more consumers and increasing conversion rates – as an example only around 30% of switching activity in car insurance is via PCW’s, despite 40%-50% of customers using a PCW to research prices.
SIG shares jump as it forecasts a return to profit
A look at the major movers on the London market on Wednesday
SIG PLC (LON:SHI) has come in from the cold sooner than expected.
The insulation specialist said January and February had seen a solid start to the year, with sales volumes then picking up so that March and April traded ahead of expectations.
So it now expects to deliver an underlying profit in the first half, turning round its losses more quickly than expected.
It said: Whilst the evolving COVID-19 backdrop will continue to create uncertainty in the short term, more so in our EU markets than the UK, the strong demand across territories and sectors in the first four months of the year was encouraging and gives the board increased confidence for the full year performance.
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Edenville Energy Plc, an AIM quoted company operating the Rukwa Coal Project in southwest Tanzania, has announced a number of developments.
Highlights
Proposed strategic investment by Anthony (Tony) Buckingham of £1 million as part of a £2.48 million (before expenses) placing, which includes participation from the company’s substantial shareholders of, in aggregate, an additional £1.05 million.
Additional assets targeted in line with previous announcements.
Strategic investor
The company is pleased to announce that Buckingham has agreed a £1 million strategic investment in the company through the placing (as defined below), giving him a shareholding of 18.5% of the company’s issued share capital, as enlarged by the placing, which is subject to, inter alia, shareholder approval at a General Meeting to be convened shortly.
Uganda’s oil journey to a $15 billion investment
April 14, 2021 Written by CRISTAL ADVOCATES
There was palpable excitement in 2006 when Uganda found oil that the government organised national thanksgiving prayers on October 8, 2006 to celebrate this feat.
To the ordinary folk, an immediate economic bonanza that is yet to materialise was imminent! As a nascent country finding oil for the first time, it is not surprising that it has been a long journey to the Final Investment Decision (FID).
There was lot of work to be embarked upon putting in place the necessary legislative framework and enabling infrastructure. Uganda’s petroleum discoveries were made at a time of rising oil prices and raging resource na