A Q3 trading update was published by the FTSE-250 listed technology firm Softcat this morning with the company noting double digit profit growth against the comparative, with momentum appearing strong and the full year projections being materially upgraded, too. AI adoption is driving customer demand and management add that the broad based array of services offered by Softcat provides a popular end-to-end solution in an increasingly complex marketplace. The Softcat share price was up 11% in early trade.
The provider of sustainable water and climate solutions Genuit Group issued a trading update for the first four months of the year ahead of its AGM later today. Two key drivers are in play, notably demand from the Middle East being curtailed by the ongoing conflict and macroeconomic woes closer to home weighing on performance. However, revenues are down just 0.4% against the same period a year ago, H1 profits are projected to be flat and cost saving measures are being deployed. A timely resolution to the Gulf conflict has the potential to see FY numbers land at the lower end of the range but as the situation drags on, that evidently becomes harder to realise. The Genuit share price was down almost 5% shortly after the open.
The uranium exploration company Arkle Resources issued an update this morning regarding drilling activity in Namibia. This noted what management hailed as exceptional results and has driven an acceleration of the next phase of work, which will start in June or as soon as contractor staff are available. More news is set to come here as further drilling takes place – investors will understandably keen to get further details. By 8.30am, the Arkle share price was up around 10%.
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Company Update - - Rift Helium PLC (RIFT)
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Proposed Placing to raise approximately £5.5m - - Creo Medical Group (CREO)
