Morning Report: G3 Exploration survives to fight another day

Headlines from the Proactive UK newsroom.

China focused gas group G3 Exploration (LON:G3E) has received a stay of execution from the Grand Cayman Court. Joint Provisional Liquidators have been appointed and will work with the board and management to develop a re-structuring plan.

Rockfire Resources (LON:ROCK) has seen more intersections of gold from a new zone at the Plateau Gold Deposit in Queensland, Australia. The explorer believes the gold is part of a large system it unearthed in November. 

Base Resources’ (LON:BSE) says a definitive Feasibility Study on its Toliara Project in Madagascar has confirmed it as a world class asset. The NPV’s US$652mln over the initial 33-year mine life.

Belvoir Group (LON:BLV) is to acquire Lovelles, a privately-owned franchised estate agency network operating in Lincolnshire and the Humber region with 19 branches. The lettings agent added that trading continues to be strong and it should comfortably achieve market expectations for the full year.

Dixons Carphone (LON:DC) says it has reached the trough of its mobile problems as it cut interim losses to £86mln from £440mln. Mobile revenues dropped by 18% and the electricals group also took a £26mln bad debt hit. 

Serco (LON:SRP) is forecasting revenues will grow 14% this year and trading profits by 30%.  The outlook for 2020 is for further strong growth in both revenues and profits.

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