Gamma acquires STARFACE
Communications services provider Gamma Communications is buying SFT Technologies Holding, trading as STARFACE, for around £165m. This puts Gamma Communications in a strong market position in the smaller companies cloud PBX market in Germany. There are also operations in Austria and Switzerland.
Regulatory approval is expected within two months. The deal should be earnings enhancing in 2025.
Trading in 2024 was in line with expectations. Revenues will be within the consensus range of £124m to £127m. Underlying 2024 earnings will be at the upper end of the range of 80.3p/share to 88.4p/share. Even before the completion of the STARFACE acquisition, the 2025 earnings forecast is 92.2p/share.
Central Asia Metals production decline
Central Asia Metals produced 13,439 tonnes of copper at its Kounrad mine, which was within guidance, but lower than in 2023. It did miss guidance for zinc and lead production at Sasa, although capital investment should improve production this year.
Zinc concentrate production was 18,572 tonnes and lead concentrate production was 26,167 tonnes. This year, zinc production guidance is 19,000 to 21,000 tonnes and lead guidance is 27,000 to 29,000 tonnes. The new Dry Stack Tailings plant should be operational later in the first quarter.
Kounrad 2025 copper guidance is 13,000 to 14.000 tonnes . Aberdeen Minerals completed its 2024 drilling programme. Net cash is £67.6m.
Brooks Macdonald Main Market move
Wealth management services provider Brooks Macdonald maintained funds under management at £17.9bn in the second quarter to December 2024. Brooks Macdonald intends to move from AIM to the Main Market during March.
Even excluding the international business that is currently being sold, funds under management was flat at £15.7bn. There have been outflows offset by positive performance. Management believes that net inflows should return in the second half.
Singer has trimmed its 2024-25 earnings forecast by 1% to 142.7p/shares, down from 161p/share. Brooks Macdonald was on of the broker's key picks for 2025.
