Interim results from the FTSE-250 listed self-storage company Safestore were published this morning , noting a 4% uptick in group revenues on a like for like basis, supported by an 11% growth in maximum lettable areas. The board remains comfortable with the previously offered full year expectations but adds that costs and interest charges are set to be lower than forecast. That has been sufficient to deliver some cheer for the Safestore share price, which traded as much as 10% higher shortly after the open, before giving back some of those gains.
The FTSE-250 silver gold miner Hochschild issued an update on its Mara Rosa project in Brazil today. Heavy rains have been impacting production and whilst the company had expected to extract as much as 104,000 oz of Gold this year, at the end of May only 25,000 oz had been realised. That’s going to have a significant reduction on guidance for the full year, so management are taking action to ensure the operation can be put on a sustainable footing. The Hochschild share price was down 18% in early trade.
The AIM listed neuroscience company Ixico updated the market earlier that it had received first stage FDA clearance of a new Alzheimer’s testing protocol. Management see it as a significant milestone in the testing of biomarkers for Alzheimer’s, enabling earlier diagnosis to take place. The Ixico share price had added more than 25% by 8.30am.
Most read news on Investegate this morning
Response to statement by Revolution Beauty Group - - Frasers Group (FRAS)
Sale of Oxford Instruments’ quantum business - - Oxford Instruments (OXIG)
Update re Acquisition of Swales Gold Property - - Metals one (MET1)
