Investors were interested in Trustpilot’s most recent trading update after the consumer website raised its profit guidance, following a successful start to the new year.
The company allows users to check the reliability of businesses before purchasing a service or product. The company said it expects its adjusted annual operating profit to be between $2.4 and $4 million, based on “resilient” trading during the first half of the year.
Investors rejoiced when Trustpilot reported a $3 million adjusted operating profit in the six months to June’s end, compared to a $5.4 million loss a year ago. The company’s revenues increased to $85million, an 18% increase in constant currency. Bookings grew 16% in constant currency. The share price rose by 8 1/4p or 12.1% to 76 1/2p after the update. This was its biggest single-day gain in over eight months.
Even the tough session for the housebuilders couldn’t stop the FTSE 100, which rose 24.10 points or 0.3 percent to 7,440.21, as a lower dollar led miners upwards.
Shares of Glencore increased by 11 1/4p or 2.5 percent to 469 3/4p. Anglo American rose by 40p or 1.7 percent to £23.65. Antofagasta rose by 31 1/2p or 2.1 percentage to £15.47.
Watches Of Switzerland was the biggest supporter of the FTSE 250. The index closed up 52.17, or 0.3 percent, to 18,631.71. The retailer rose 69p or 10.8 percent to 710 1/2p, a new two-month high, on the back strong annual results.
Diploma received high marks for its acquisition news and for a positive outlook on the full year. This pushed the shares of the FTSE 250 group, which deals with wiring and cabling, up 106p or 3.6 percent to £30.70. Analysts believe that the company’s acquisition of Distribuidora Internacional Carmen, a fluid power distributor, for £170 millions will allow Diploma to access European markets, where it has been underrepresented. The group’s strong performance over the first nine-months of the year has further boosted sentiment.
Citigroup also advised investors to buy the IT supplier Softcat, boosting the shares by 74p or 5.3%, to £14.61.
Barratt Developments’s disappointing results for the full year, where it lost 6 3/4p or 1.6 percent to 411 1/2p, put its peers under pressure. Crest Nicholson fell 6p or 3.2 percent to 182 1/2p. Berkeley Group Holdings lost 41p or 1 percent to £39.98.
Investors in Aptitude software Group were disappointed after the company announced that Jeremy Suddards would step down as CEO. Shares dropped sharply, by 64p or 18.8%, to 276p – a level that has not been seen since 2018.
MusicMagpie shares have fallen more than 90% since 2021 when it made its initial public offer. The online retailer for refurbished phones, electrical gadgets, and other electronic devices posted a loss of £3.2million in the six-month period ending May, compared to £1million a year ago. This was enough to drive its shares down by 3 1/2p or 18.7% to 15 1/4p.
Gym Group shares, on the other hand, rose as revenues and memberships increased in the first half of the year. The number of gym members increased to 867,00, nearly 10% more than a year ago. This helped revenues increase by 18.5% to £ 99.8 million. The company’s shares rose by 10 1/2p or 11.8 percent to 100 1/2p.
SpaceX, Elon Musk’s rockets and satellites company, has completed an share sale that has pushed its valuation up to $150 billion. (Callum Jones reports).
CNBC, a financial news network, reported that Bret Johnsen’s offer to purchase the stock of up to 750 million dollars from its insiders was accepted by both new and existing investors. SpaceX has not responded to a comment request.
The conglomerate, based in Hawthorne California, is built on rocket launches and contracts with government agencies such as Nasa.
SpaceX is the most valuable private company in the world
Investors and industry watchers are particularly interested in the future of Starlink, as Musk has indicated that he intends to spin off the company via an initial public offer (IPO) in the next few years. It would then be listed alongside Tesla, another pillar of Musk’s empire.
Gwynne shotwell, president and chief operational officer of SpaceX, is responsible for the majority of the daily running of the business.
Seraphim Space Investment Trust shares have been pushed down by a tiny amount due to plans for a share-buyback.
JP Morgan Securities was appointed as the broker by the venture fund that invests in space-related companies. Seraphim has the right to buy up to 15% of its capital but it does not plan to use this authority because it cannot pay a premium over its net asset value.
In the year to the end June, the group reported that investment activity was robust. Eleven companies had successfully closed investment rounds. Seraphim has a portfolio of space-related companies, including All.Space which manufactures antennas for satellites. D-Orbit, a space logistics company, and Arqit – based in Britain – whose quantum computing encryption technology is used.
Seraphim’s cash reserves of £35 million will support its expected fundraising requirements over the next 12-18 months.
Seraphim was founded in 2014 by Mark Boggett , the chief executive of Seraphim, along with some colleagues from YFM Equity Partners. The shares increased by 4p or 14.9% to 30p.