Castleton Technology Shares Dive After Profit Warning; ProPhotonix Awarded Five-Year Supply Agreement

Shares in CASTLETON TECHNOLOGY PLC (CTP.LN) fell sharply Thursday after the company said it will miss expectations for fiscal 2020 following a first-half shortfall.

Shares at 1036 GMT were down 38.5 pence, or 41%, at 54.4 pence.

PROPHOTONIX LTD. (STKR) said that it has been awarded a five-year supply agreement from a Fortune 50 company for custom LED illumination devices and maintenance products.

Shares up 0.30 pence, or 17%, at 2.05 pence.

Shares in BAHAMAS PETROLEUM CO. (BPC.LN) fell after the company said that it would propose an open offer to raise 7 million pounds ($8.5 million) to fund its exploration.

Shares down 0.30 pence, or 13%, at 1.93 pence.

MORSES CLUB PLC (MCL.LN) reported a 33% fall in pretax profit for the first half of fiscal 2020 after booking higher costs, and said that trading was in line with the board's expectations.

Shares down 15.0 pence, or 13%, at 100.0 pence.

AVACTA GROUP PLC (AVCT.LN) said that it has entered into a collaboration agreement with ADC Therapeutics SA (ADCT) to develop conjugates combining Avacta's Affimer platform with technologies developed by the Swiss company.

Shares down 1.75 pence, or 8.9%, at 18.0 pence.

KONINKLIJKE PHILIPS NV (PHIA.AE) warned that its connected care operations have been hit by a margin decline in the third quarter, which is expected to drag on its profitability for 2019.

Shares down 3.38 pence, or 8.1%, at 38.22 pence.

N. BROWN GROUP PLC (BWNG.LN) cut its fiscal 2020 product gross-margin guidance after taking a hit from promotions in the first half, and said it swung to a first-half pretax profit on lower exceptional losses.

Shares up 8.20 pence, or 8.2%, at 108.2 pence.

DUNELM GROUP PLC (DNLM.LN) shares fell slightly on Thursday after the company cautioned that improvements to its gross margin in the first half of fiscal 2020 will be likely offset by adverse foreign exchange movements later on.

Shares down 61.0 pence, or 7.5%, at 754.0 pence.

FTSE Small-Cap up 0.11%

AIM down 0.23%

Write to Adria Calatayud, Oliver Griffin, Sabela Ojea, and Anthony O. Goriainoff at [e-mail]

(END) Dow Jones Newswires

October 10, 2019 07:14 ET (11:14 GMT)

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